It seems unconscionable to most, but unscrupulous men and women often target senior citizens to rob them of their money or identities. When scammers know how to confuse and gain the trust of the elderly, they have virtual free reign of bank accounts, personal information, and even assets.
If you are concerned about the well-being of a senior in your life, or if you are a senior who wants to protect yourself, take some time to learn about common risks and scams. Some of the more mainstream scams involve prescription drugs, investments, charities, reverse mortgages, and “free” prizes. By Continue Reading »
Many subscribe to the notion that it’s bad business to lend money to friends or family. However, how do you handle the refusal of a loan in a way that makes a loved one feel like it is nothing personal? Here are several tips on how to refuse gently, while still helping your friend or family member:
Don’t feel pressured. People agree to these types of loan requests because they don’t feel they can say no and they feel backed into a corner with no way out. You don’t have to say yes, so don’t let the pressure get Continue Reading »
Consumers are constantly looking for affordable — and predictable — ways to manage their money. One option that seems to be gaining in popularity is prepaid credit cards. But it is a good option for you? The answer is as individual as the financial situations each of us faces.
A prepaid credit card is just as it sounds: You “deposit” whatever dollar amount you’d like onto a card, and you then use the card to make purchases. As you spend, your purchases are deducted from the total balance. When the balance gets low, you can reload the card with Continue Reading »
As we head into the meaty part of the summer, most of us are looking forward to a few days of vacation. Whether it’s a week at the beach, an overseas adventure, or just relaxing around the neighborhood, consider these tips for ways to get the most vacation for your dollar.
Budget. Before you even begin planning where you are going to go and what you are going to do, develop a realistic and manageable budget. Be sure to include all known expenses, including transportation, entertainment, lodging, food, tips, and souvenirs. Then add a little extra to the budget Continue Reading »
As mortgage rates remain low and consumers consider if they want to buy a new home or refinancing an existing mortgage, keep some of these basic mortgage principles in mind:
A good income does not automatically mean good loan terms. Any self-employed individual who has tried to get a mortgage loan knows that it’s far from easy to get a good loan rate, no matter your income. A 1099 tax form isn’t as encouraging as a straightforward W-2, and those who are self-employed take care to use as many tax deductions as legally possible — and that can skew the Continue Reading »
Copious amounts of information is available online — including on this blog — about financial tips and tricks that can result in more personal savings, yet most of those tips involve reviewing your budget or making cuts to personal spending habits. Here are some non-financial tips that can help you reach your savings goals.
Personalize your accounts. If you have established an account for a specific purpose, give it a name. Assigning a meaningful title such as “retirement fund” “anniversary trip” or “kitchen makeover” makes the goal seem more tangible.
Use a photo to keep you riveted. Adding a Continue Reading »