Our prior article, 5 Steps To Be Your Own Mogul – Part 1, covers the first three steps to manage your finances like a business. Below we present the final two steps. 4. Forecasting If you have performed the budget exercise and broken your expenses out into categories, you can start to highlight areas
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Why not take some financial pointers from the business world and apply them to your personal finances? Whether you are a party of one or a family of four, it pays to be fiscally agile. Some of the longest financial plays in the business world today are small businesses that perennially stay afloat and drive
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Have you ever enrolled in a Medicare Advantage plan, just to discover in January that your doctor doesn’t accept your new coverage, or to realize you should have stayed in a particular network? As a result, you had to remain in a plan that was less suitable for your specific needs for an entire year.
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Can you avoid a New Year’s Day hangover? We’re not referring to the traditional hangover that comes from too much alcohol, but the financial hangover that comes from too many charges on your credit card. Of course, you can avoid a New Year’s credit hangover – especially with some help. Consider these eleven ways to
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Christmas Shipping Can Still Be Free Are you a procrastinator who hasn’t started your holiday shopping yet? If not, are you still hunting for deals even after Black Friday, Small Business Saturday, Cyber Monday and Green Monday? In any case, you still want to take advantage of online bargains and free shipping offers. You’re in
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You’ve overspent during past holiday seasons, but you’re determined not to let it happen this year. What’s your plan to prevent painful post-holiday bills? A new study from Elevate’s Center for the New Middle Class (CNMC) may be able to help. The study focused on holiday spending behavior and how it varies depending on credit
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By Eric Olsen, Executive Director, HELPS Nonprofit Law Firm It’s a constant struggle to stay afloat financially on disability income. Many disabled persons have credit card debt they can’t pay, often incurred before they were disabled. What can disabled persons do about telephone calls and letters from collectors? What happens if you are sued? As
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It may seem like you have been paying credit card interest since 3500 BC – but you might be surprised to learn that credit actually dates back to those ancient times. Historians believe that the Sumerians of ancient Mesopotamia (in modern-day Iraq) extended credit to farmers in the rough equivalent of a consumer loan. The
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By Roshni Chowdhry, head of customer experience at SafetyNet Being laid off is not something most people plan for. Even though unemployment is low right now, some industries (including retail) have seen several layoffs in recent months. The bad news is that nobody is fully immune to layoffs. The good news? It’s possible to survive
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Your checking account is a tempting target for thieves. You must stay alert for the many varieties of checking account scams – but first, you must be able to recognize a scam when you see one. Have you ever been targeted by any of the scams below? Free Prizes – This scam usually starts with
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Do you like the idea of good deals but not the idea of standing outside the mall in a three-point stance waiting for the doors to open for pre-dawn Black Friday savings? Then Cyber Monday, which will be held on November 26th, 2018 — the Monday following the Thanksgiving holiday — is for you. Cyber
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The ability to save money is one of the many skills one must learn in order to become financially successful, and one of the most difficult. Moody’s Analytics analyzed different demographics and determined that savings rates increase as we age. Sadly, according to their data, only one age group saves between ten and fifteen percent
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What happens to your financial accounts when you pass away? They will be passed along to the beneficiary or beneficiaries designated for that account – but what happens when your beneficiaries are out-of-date? For example, what if your beneficiary passes away before you do? How about an old account where you named your children as
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Did your credit card limit unexpectedly decrease? If so, would you believe the good economy is the reason why? Capital One and Discover, two of America’s largest credit card issuers, recently announced a tightening of credit card limits despite the strong economy. Both companies cite risk management as the reason. While the economy may be
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Black Friday, this year on November 23, offers some of the lowest prices of the year on many consumer goods including TVs, other electronics and toys. Savvy shoppers save hundreds or even thousands of dollars on this single day. Shopping on Black Friday is extremely hectic and overwhelming due to so many amazing deals. Stores
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Do you know how your mortgage loan officer is compensated? You should if you plan to buy a home, because your loan officer’s compensation could have the potential to affect your mortgage loan – and proposed new changes could amplify the effects. At the beginning of 2014, the Consumer Financial Protection Bureau (CFPB) significantly changed
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New Study: EMV Cards Still Subject to Fraud Whether you know it or not, you probably have an EMV card in your wallet. EMV cards, named for the joint development with Europay, MasterCard, and Visa, incorporate a computer chip into the physical card. When scanned using an EMV-capable chip reader, the card generates a unique
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Student loan debt in America has topped $1.5 trillion dollars, and millennials hold a large amount of that debt burden. As of 2017, 37.5% of Americans with student loan debt were under the age of thirty. A new study by MagnifyMoney highlights the difficulties millennials face because of their debt. Since student debt draws money
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You’re never too old to learn new things – including better money management practices. The Federal Deposit Insurance Corporation (FDIC) agrees. To address financial literacy concerns, the FDIC created the Money Smart teaching program in 2001 to help educators and financial institutions increase consumer understanding of basic financial systems work and how to use them
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Home sellers and their agents may be limiting their potential base of buyers by ignoring a growing pool of them. Mortgage industry software company Ellie Mae reports that loans acquired through the Veterans Affairs (VA) Department account for 10% of all primary insured home loans. It is easy to see why VA backing is preferable
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Nearing the Limit The housing market has suffered from excess demand and limited supply for years, causing a sharp increase in home prices. Add continually increasing interest rates to the mix, and eventually something has to give. The turning point may have arrived. The S&P CoreLogic Case-Shiller report shows that home prices are still rising,
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Since 2009, the Home Affordable Refinance Program (HARP) has helped qualified homeowners with limited equity in their homes find affordable refinancing. After seven program extensions, HARP is scheduled to end December 31, 2018, when new assistance programs from the mortgage-loan-backing agencies Fannie Mae and Freddie Mac will take its place. In the wake of the
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Most consumers know that credit cards can come with fees other than interest charges applied to balances. Annual fees, late payment fees, balance transfer fees, cash advance fees, foreign transaction fees … the list goes on. Did you know that debit cards could have fees as well? If not, don’t feel bad. In a recent
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