In your contacts notes field, track the amount you pay each year for regular home maintenance services. Yesterday, I was significantly overcharged. I contacted the manager and shared what I have spent over the years. He apologized and quickly corrected it. We all make mistakes sometimes. Especially now, local businesses truly value long-term clients. Please support them.
Too Many Passwords…
Whether appearing in your mailbox or your browser, financial information inundates us daily, adding to the papers and information (virtual or real) you already have. Some of it is important; some of it is not. Not only should you strive to reduce the amount of paper and computer files that you retain, but you need a system for organizing everything that you decide to keep. Not only are we inundated with information, our lives require more passwords than ever. Time to confess: I have far too many passwords (financial accounts, online shopping, subscriptions, kids’ schools, activities . . . the list goes on). I have wasted a lot of time trying to find or remember them all, and I worry about online security. Your passwords need to be secure, whether you write them on a piece of paper (keep the list hidden far from your computer) or you use a…
An Email Hack – What to Do
Since the beginning of 2020, the Federal Trade Commission reports that there have been more than 150,000 fraud, phishing scams, and identity theft occurrences. Security experts, Risk Based Security, see various schemes emerging to take advantage of people’s vulnerability due to COVID-19. Examples include phishing emails referring to urgent pandemic updates, robocalls from the Department of Public Health, texts related to unemployment claims, and of course email hacks. Like most experts, Risk Based Security anticipates that the incidence of fraud will continue to escalate. For the past six years, I have written and spoken extensively about getting one’s financial house in order. Passwords, security, and identity theft protection are all topics that I address. I am well versed in the subject, but despite this I discovered that my personal email was hacked a few weeks ago. Data breaches are unfortunately common – we have all seen the headlines. As surprised as…
Helpful Information for Financial Caregivers
Have you been asked to serve as a financial caregiver? Are you considering asking someone to serve as a financial caregiver for you or a loved one? The Consumer Financial Protection Bureau (consumerfinance.gov) offers four free guides explaining what it means to serve as a trustee, power of attorney, guardian of property, and as a government fiduciary (for Social Security and VA benefits.) A common trait across these types of financial caregivers is that involve a fiduciary duty. These four guides explain fiduciary duty and offer helpful suggestions on how best to serve in these roles. Guides for Different Types of Financial Caregivers
Financial Truths
Managing your financial life is not a “set it and forget it” exercise. You must take a comprehensive view and stay engaged. As you work through the process and become more conversant with concepts, many financial truths are worth remembering: The importance of time: Compounding is powerful. The importance of risk and return: There are many types of risk. The importance of discipline and conviction: Stay true to your plan. The importance of patience: Study your investment decisions and don’t rush. The importance of value: Value is not what you paid for something. It is what someone else is willing to pay for it. The importance of supply and demand: Both have an impact on value. The importance of expectations: They also drive value. The importance of liquidity: How easily something can be converted to cash is key. The importance of total return: Look at both appreciation and income. The…
How Much Coverage?
It is a new year and a new decade. Resolve to get your financial house in order. Making sure that you have adequate insurance should be an item on your “to-do” list. The nonprofit Life Happens teaches people about life insurance and disability insurance. When it comes to insurance, there are many considerations. Your situation and life stage are unique. The site offers calculators so consumers can determine but how much coverage they require. Being thoughtful about your insurance needs helps protect your loved ones and your budget. Check out the site LifeHappens.Org
Advice For Women to Keep Money Secure
Very helpful money advice for women from women. Thanks to Karen Doyle @KarenDoyleScit @GOBankingRates for featuring me along with @bobbirebell and @NicoleMiddendor. Women must be engaged in their personal finances. Advice for Women to Keep Money Secure
Financial Caregivers’ Roles
Have you been asked to serve as a financial caregiver? Are you considering asking someone to serve as a financial caregiver for you or a loved one? The Consumer Financial Protection Bureau (consumerfinance.gov) offers four free guides explaining what it means to serve as a trustee, power of attorney, guardian of property, and as a government fiduciary (for Social Security and VA benefits.) A common trait across these types of financial caregivers is that involve a fiduciary duty. These four guides explain fiduciary duty and offer helpful suggestions on how best to serve in these roles. Guides for Different Types of Financial Caregivers
New Job Offer? Great Tool for Budgeting
Have you received a new job offer? Considering a job transfer to a new state? This online calculator from payroll processing provider ADP helps you determine what your take home pay will be every pay period. There is also a version for those who are paid hourly. Such a helpful tool as you build your budget for your next chapter in life. To give it a try, click on the link below: ADP Take Home Pay Calculator
Helpful Tips on Holiday Tipping
Tis the season for tipping. It is a nice way to say “thank you” to those who help us out during the year. Many have questions about whom to tip during the holidays and how much to give. Here are a few thoughts: For those who help you out regularly – dog walker, trainer, hair stylist, babysitter, piano teacher – tip the equivalent of one service or session. For nannies or housekeepers who work with you more than once a week, consider one week’s pay as a holiday bonus. For teachers or coaches, consider pooling voluntary contributions from parents and putting the funds toward a gift card to be given at the end of the season or at the end of the school year. For other service providers, you could double the tip that you would give other times of the year. Every year make a list of holiday tips…