Tony Robbins: 7 Tips for Building Financial Security in Tough Times

Tony Robbins: 7 Tips for Building Financial Security in Tough Times

Gabrielle Olya   Wed, June 18, 2025   GOBankingRates

Money is an all-too-common source of worry and stress. We fear losing our jobs, stock market crashes or simply not being able to pay all of our bills next month. While we can’t control the greater economy or even our job security, there are steps we can take to protect our finances as much as possible and ride out any waves that come our way.

In a blog post, entrepreneur and author Tony Robbins outlined a few effective tips to build financial security, regardless of what’s happening in the wider economic environment. Here’s how to create financial certainty in an uncertain world.

1. Focus on What You Can Control

Don’t let your financial fears get the best of you.

“When the world seems uncertain, most people freeze or panic,” Robbins wrote. “But the most successful people in history — those who built fortunes and legacies — did so by acting when others were paralyzed by fear. Remember, where focus goes, energy flows. If you focus on what you can control, you’ll find the power to act, even when the sky seems to be falling.”

Some things you can do to gain control are to build an emergency fund for short-term needs and to plan ahead for long-term goals through retirement savings accounts and life insurance.

2. Shift Your Mindset

Robbins says that if you want to “shift your results,” you first have to “shift your state.”

“Don’t let the news or social media dictate your emotions,” he wrote. “Take care of your body, move, breathe deeply, and prime your mind every morning for strength and gratitude. Certainty starts from within.”

3. Focus on the Facts

Paying attention to negative speculation can make you feel more fearful than is necessary.

“In times of uncertainty, rumors and negativity spread faster than the truth,” Robbins wrote. “Get the real facts about your finances, your job and your opportunities. Make a list of your assets, your skills and your connections. Knowledge is power, and clarity is the antidote to fear.”

4. Create a Budget

One of the best ways to gain control of your money and work toward financial freedom is to create a budget that includes room for saving, investing and paying down debt.

“Now is the time to get lean and strategic,” Robbins wrote. “Review your expenses and cut what isn’t serving you. But don’t just focus on scarcity — look for places to invest in your growth. The greatest fortunes are made in times of crisis, not comfort. Invest in your skills, your relationships and your health. These are assets that no market crash can take away.”

TO READ MORE:  https://www.yahoo.com/finance/news/tony-robbins-7-tips-building-131606255.html

7 Ways To Protect Yourself From Family Fraud in Retirement

7 Ways To Protect Yourself From Family Fraud in Retirement

Jordan Rosenfeld   Thu, June 19, 2025   GOBankingRates

Older adults, particularly seniors, are especially vulnerable to financial fraud — but not all of it comes from strangers, scammers or people on the internet. Family members can also engage in financial fraud.

While no one wants to have to plan for such an outcome, being prepared is the best way to prevent it from happening in the future. Estate planning and fraud prevention experts offered some tips to protect yourself from family fraud in retirement.

Keep an Eye Out for These Red Flags

Unfortunately, perpetrators of financial abuse can be anyone, including caretakers, lawyers, business associates, new friends and even family members, according to Darius Kingsley, a fraud and scam prevention expert and head of consumer banking at Chase.

Here are several immediate red flags to watch out for:

• Unusual financial activity: Signs that could point to financial abuse include unpaid bills, missing checkbooks, suspicious signatures, missing valuables and unexpected authorized users added to financial accounts. For any of these, contact your financial institution right away.

• Changes in ownership and responsibility: If you notice changes to wills, power of attorneys or any other financial plans, it could be a sign of financial abuse.

Form a Team

Make a financial care plan and form a team of trusted individuals to help you take care of your money as you age, Kingsley said. This team can include family, friends, accountants, lawyers and social workers who can help support your future plans.

“You can also designate a trusted contact to help manage financial accounts if you cannot be reached,” Kingsley said.

Automate and Monitor Finances Regularly

Automate all the bills you can, so that you’re not relying on a single individual to handle your every transaction, Kingsley advised.

“It is easier to have control of what comes in and out of your account when you set up bill payments that can be monitored by you and people you trust.”

Protect Personal Information

If you’re still dealing with any paper, shred documents with sensitive personal information as soon as you’re done with them, Kingsley suggested. Consider switching to paperless communications to avoid your personal information getting into the wrong hands.

Additionally, set up ongoing identity monitoring to alert you if there are changes to your credit report or if your information is found in a data breach or exposed on the dark web.

TO READ MORE:  https://www.yahoo.com/lifestyle/articles/7-ways-protect-yourself-family-120228305.html

Saving Money Vs. Paying Off Debt: The Personal Finance Conundrum

Saving Money Vs. Paying Off Debt: The Personal Finance Conundrum

By Todd Kunsman  Saving Money  Dec-08-2023 Invested Wallet

Saving money vs. paying off debt might be one of the most common personal finance debates. Least, I think it is and continues to find people on different sides.

For those just getting started and trying to figure out your financial path, it can be confusing with what to do or where to focus your time.

A few years back, I also ran into this dilemma. I researched, ran numbers, but still was truly indecisive as to what would take priority.

And you’ll see many experts choose one over the other. You’ll also read stories of others in the media or bloggers who chose one path over the other too.

For me, saving money vs. paying off debt can be a finance conundrum to those just getting started.

Saving Money Vs. Paying Off Debt

If you look at the math, see the interest on your debt, you’d generally lean towards paying off debt has your main goal. Right?

But pending your financial goals and current situation, it’s not always as simple as that.

In 2014 as a personal finance newb, I was looking at some student loan debt, car debt, credit card debt, but also had very little save and not much in retirement either.

After searching what I wanted to do and reading, I still found myself arguing internally of which is better: saving money or paying off debt.

The research explained the math and gave some great life examples. But even with that information, I still could not make a definite decision.

Chalk it up indecisiveness or financial ignorance still, but I was afraid I’d make the wrong decision if I went down one specific path over the other.

This is why I’m calling this a debate, a finance conundrum, or a confusing and difficult problem to solve.

Hopefully, you aren’t thinking I’m being over dramatic. You may even be yelling,

“C’mon look at the data and math of your situation!”

For me specifically at the time, this was a battle regardless. A bit further down, I’ll share my choice and why.

When Should You Choose Saving Before Paying Off Debt?

20% of Americans don’t save any of their annual income at all and even those who do save aren’t putting away a lot. (CNBC)

One of the top reasons to prioritize saving money before paying off debt is to build an emergency fund.  

This can be important if you have little to nothing saved as you need some buffer for emergencies or other unexpected expenses. Plus, it helps relieve you of some money stress.

Also, if you’re somewhat lucky with your current debt, the interest rates on those loans might be pretty low. If you aren’t getting wrecked by the rates, socking this money away first until you have six months or so of expenses saved might be a great choice.

TO READ MORE:  https://investedwallet.com/saving-money-vs-paying-off-debt/

The Psychology of Money: 8 Ways to Improve Your Money Mindset

The Psychology of Money: 8 Ways to Improve Your Money Mindset

By Sam Stone

As the old saying goes, personal finance is ‘mostly personal and a little bit financial.’

Long-term growth and success rely more on our habits and behaviors than on complex knowledge and advanced strategies. Learning a few key points on the psychology of money can go a long way to building the right mindset for prosperity.  Let’s look at a few far-reaching psychological concepts that play an outsized role in our financial lives, including some of the biases and fallacies that can point us in the wrong direction.

8 Crucial Money Psychology Concepts

Human cognition can be messy. Each of us carries a collection of cognitive biases, irrational beliefs, and behavioral quirks. When we make decisions about our money, this can, unfortunately, lead us down the wrong path.

Understanding each of the money psychology concepts below will help you approach your finances more rationally and avoid some of those poor decisions that stem from cognitive bias.

Optimism Bias

Optimism bias is the natural tendency to overestimate the likeliness of positive outcomes and underestimate negative ones.

In terms of money, optimism bias can lead to reckless decisions and insufficient planning. That can include:

Investing heavily in risky products

Carrying insufficient insurance

Taking on excessive consumer debt

Ignoring your emergency fund

No one looks forward to dealing with failed investments or significant unplanned expenses (like vehicle repairs or medical bills), but the risk is there. When misfortune does come, this optimistic bias leaves us in a precarious position.

The ideal approach to finances is to hope for the best but prepare for the worst. It’s great to be optimistic, but not when it gets in the way of sound decision-making.

Pessimism Bias

The polar opposite of optimism bias – pessimism bias – can also play an insidious role in our finances. Pessimism bias, (also known as negativity bias), draws our attention away from positive circumstances and causes us to weigh negative stimuli more heavily.

Negativity bias can cause us to subconsciously exaggerate the impact of market downturns in our minds and overreact to perceived financial dangers. One typical instance of this is people rushing to sell a stock that has decreased in price over a short period. It is also what causes many people to cash out some or all of their investments in fear of future market conditions, almost always missing out on gains in the process.

TO READ MORE: https://investedwallet.com/the-psychology-of-money/

6 Subtly Genius Ways Wealthy People Save Tons of Money

6 Subtly Genius Ways Wealthy People Save Tons of Money

Cindy Lamothe   Mon, June 16, 2025  GOBankingRates

Ever wonder how the rich are able to maintain their lavish lifestyle without depleting their bank accounts? As it turns out, they’re exceptionally good at saving. In fact, many of their financial decisions are genius strategies for creating lasting wealth.

Below experts outline some of the ways they’re able to save tons of money.

Prioritizing Strategic Investments

“From what I’ve observed working with affluent clients, one of the most effective ways wealthy people save money is by focusing on strategic investments,” said Shirley Mueller, finance expert and founder of VA Loans Texas.

“They understand the power of compounding and often prioritize tax-advantaged accounts like IRAs, 401(k) plans and health savings accounts (HSAs) to maximize their returns while minimizing tax liabilities.”

She also noted that many also leverage tools like trusts and charitable giving strategies to reduce tax exposure, creating long-term savings while supporting causes they care about.

“This level of planning reflects their focus on building sustainable wealth rather than chasing short-term gains,” Mueller added.

Mastering the Art of Negotiation and Rewards

According to Mueller, wealthy individuals rarely pay full price for anything, even when they can afford to.

“They are skilled negotiators, whether they’re buying property, financing a home, or making high-ticket purchases,” she said.

The expert noted many also take full advantage of rewards programs tied to credit cards or memberships.

“I’ve seen clients use travel rewards or cashback bonuses in ways that significantly offset their expenses,” Mueller explained. “For them, it’s about maximizing value on every dollar spent, an approach that helps them save thousands without cutting corners on their lifestyle.”

Valuing Maintenance Over Replacement

“Another subtle habit I’ve noticed among wealthy clients is their commitment to maintenance,” Mueller said. “They understand that taking care of what they already own — whether it’s a home, car, or investment property — saves money over time by avoiding costly repairs or replacements.”

For example, routine home maintenance can prevent expensive structural issues down the road.

Similarly, she said they approach personal finances with this mindset, regularly reviewing their budgets, portfolios, and insurance coverage to ensure everything is optimized and aligned with their goals.

“These small, consistent actions create a strong foundation for long-term financial success,” Mueller noted.

Strategic Tax Planning

TO READ MORE:  https://www.yahoo.com/finance/news/6-subtly-genius-ways-wealthy-200041280.html

7 Things You Should Never Pay For With Cash

7 Things You Should Never Pay For With Cash

Jennifer Taylor 

Some people charge everything to a credit card to rack up rewards points, but that isn’t your style. When possible, you prefer to pay with cash. Maybe you’ve ditched the plastic as a way to curb overspending, avoid credit card fraud or simply because you prefer to shop off the grid. However, despite the many good reasons to pay with cash, it isn’t always the best choice.

Not sure what types of purchases warrant leaving the cash in your wallet? Here’s a look at seven common payments that should always be made with a different form other than cash.

Rent

Writing a check can be a hassle, so if you don’t have the option to pay your rent online, you might opt for cash. However, William Capece, CFP, director of business development at the JS Benefits Group, said doing so is unwise, because it leaves you without a paper trail.

“Too often we hear stories of landlords who evict tenants over unpaid rent, while the tenant swears to have paid,” he said. “Cash leaves no paper trail and thus no proof.” On the flip side, he said landlords should also never accept cash payments for the same reason. “This should be outlined in the renter agreement,” he said.

Car

Since interest rates are at historic lows, Capece advised against buying a car with all cash. “Utilizing a car loan helps in many ways,” he said. “Dealers make more money when customers utilize debt, so they are more likely to give you a better deal.”

Beyond that, he said paying for such a large purchase in cash limits your ability to invest. If you can swing it, he recommended financing your car purchase and using the cash as the down payment on a rental property. “Use an appreciating asset to pay for your lifestyle,” he said.

Home Maintenance and Updates

If you own your home, you likely spend at least some money on upkeep each year. Capece said it’s important to have a paper trail for these expenses, so you don’t forget about them when it’s time to do your taxes. “Those expenses could be added to the cost basis of the home or as a write-off against income,” he said.

He recommended consulting with a tax professional for specifics on your unique situation.

Utilities and Other Recurring Bills

TO READ MORE: https://news.yahoo.com/7-things-never-pay-cash-120012133.html

Suze Orman: 6 Bad Pieces of Money Advice

Suze Orman: 6 Bad Pieces of Money Advice

Nicole Spector Fri, January 3, 2025  GOBankingRates

There has always been bad advice out there about what to do with our money. But now, in an increasingly digital age where many of us are glued to social media apps, inhaling particle after particle of “expert” information, we’re inundated with all sorts of financial advice. Some of it is salient and good; but some of it could be terrible for us, or, at best, not rightly sized for our needs and wants.

Suze Orman has become a multimillionaire as a personal finance guru, and is quick to call out a piece of advice about money that should be avoided. Let’s look at six bad pieces of money advice that Orman has bluntly struck down.

‘It’s Fine To Hire a Financial Advisor Who Is Not a Fiduciary’

This one may catch you by surprise, if only because you may not know this distinction exists. Not all financial advisors are fiduciary financial advisors. A fiduciary financial advisory has the qualification and commitment to act in your best interest and is overseen by complex and specific rules.

A financial advisor who does not have a fiduciary duty could act against your best interests by, for example, investing your money in a stock that they want to see succeed for their own prosperity.

“Only advisors who operate as fiduciaries are promising to always put the client’s interest first,” Orman wrote in a blog on her site in 2020. “If you are interviewing potential financial planners, ask them if they are a fiduciary and if they will put that in writing if you work with them. This should be a super easy request anyone will quickly say yes to.”

 ‘You Have To Send Your Kid to an Expensive College in Order for Them To Be Successful’

Like fellow financial expert Dave Ramsey, Orman doesn’t at all disavow a college education, but she does have a scrutinizing eye when she sees people going into student loan debt to secure one. Her philosophy is that college is valuable, but needs to be obtained affordably.

She doesn’t want to see parents place too much importance on the best of the best when it comes to education and their children’s needs. She wants them to be practical and act within their budgets so that they’re not putting their own futures at risk in the name of helping their kids.

TO READ MORE:  https://www.yahoo.com/finance/news/suze-orman-6-bad-pieces-130007865.html

4 Reasons You Should Not Spend Your Rare $2 Bills

4 Reasons You Should Not Spend Your Rare $2 Bills

Caitlyn Moorhead   Thu, June 12  GOBankingRates

Sometimes called lucky, sometimes suspected as fake, the $2 bill, with its iconic depiction of Thomas Jefferson on the front and the signing of the Declaration of Independence on the back, has long been a curiosity when it comes to American currency and sorting through your cash.

The $2 bill has been in circulation, in various designs, since 1862, and while it is rarer than other dollars in your pocket, you can spend it like any other bill. Despite the novelty of it, you may or may not want to keep some of them in your stash as some are quite collectible and valuable.

Here are four reasons why you shouldn’t spend your $2 bills.

Collectors Could Pay You Much More Than $2

While most $2 bills are worth their face value, of well, $2, certain older bills or bills with unique serial numbers might fetch a premium among collectors. Here are some rare bills that could fetch you a lot of paper:

• 1862 and 1869 legal tender notes: These are the earliest $2 bills and feature a portrait of Alexander Hamilton (which was later replaced by Jefferson)

• 1890 $2 Treasury Note: An 1890 $2 Treasury Note featuring General James McPherson can be worth thousands so double check you’re not using it to tip your delivery driver, unless you were hoping to be very generous.

• 1928 red seal notes: The 1928 $2 bill was the first to feature Thomas Jefferson’s home, Monticello, displayed with a red seal rather than a green one.

• 1976 bicentennial $2 bills: This $2 bill was released to celebrate the U.S. bicentennial, and while most of them are only worth face value, some with special serial numbers, misprints, stamps or star notes can be worth hundreds of dollars.

Sometimes It Makes Sense To Be Sentimental

Many people have received $2 bills as gifts, keepsakes, tips or tokens of good luck. If your bill has sentimental value, you might be more inclined to keep it for its personal significance rather than its monetary worth.

Good luck can be hard to come by in this economy, so though handing over a $2 bill often leads to stories, questions and sometimes even debates about its legitimacy as currency, it may be worth keeping in your pocket next to your rabbit foot if you don’t need to spend it.

It Wouldn’t Make an Economic Impact

TO READ MORE:  https://www.yahoo.com/lifestyle/articles/4-reasons-not-spend-rare-200108291.html

What “Liberation Day” Could Have Been

What “Liberation Day” Could Have Been

Notes From the Field By James Hickman (Simon Black)  June 10, 2025

On July 9, 1807, after Napoleon’s crushing victory over an entire coalition of European nations, the King of Prussia was forced to sign the Treaty of Tilsit, formally putting an end to the conflict.

The peace treaty was devastating for the Prussians; they were forced to pay heavy tribute and war reparations to France, limit the size of the Prussian army, and hand over roughly 50% of their territory to Napoleon.

Just imagine what it must have been like to be living in Westphalia at the time (one of the regions that was ceded to Napoleon). One day you’re Prussian territory. The next day you’re French (and later an independent kingdom).

Everything changed. And that included the legal system.

Before Napoleon arrived, that area (especially Westphalia, part of modern-day Germany) was part of the decaying Holy Roman Empire, and its legal landscape was a tangled knot of conflicting systems.

There was feudal law, where obligations to lords governed land and labor.

There was Roman civil law, which had been in place since the 15th century, though inconsistently applied.

Ecclesiastical courts handled everything from marriage disputes to moral offenses.

Customary law varied by village and town, with local statutes often passed down orally or compiled in obscure legal codices.

Add to that guild regulations, imperial edicts, and the whims of local princes and bishops, and you had a legal system that was both impossible to navigate, and ripe for abuse.

This was all wiped away.

When Prussia handed over the territory of Westphalia, Napoleon immediately imposed the Napoleonic Code as the law of the land.

The Napoleonic Code, originally drafted in 1804, was radical for its clarity and uniformity. It abolished feudal privileges, standardized property rights, and enshrined the idea of equality before the law.

No more special courts for nobles or clergy. No more confusing tangle of contradictory rules. The code was divided into clear sections—persons, property, acquisition of property, and civil procedure—and it applied to everyone.

For the first time, a Jewish merchant in Kassel and a Lutheran farmer from Göttingen were subject to the same laws, interpreted by the same courts. That was unthinkable under the old regime.

The US is in desperate need of a similar Westphalian reset. The Law of the Land in the United States of America these days is an endless collection of conflicting and often obsolete federal, state, and local laws combined with countless court rulings and precedents, plus enough rules and regulations to fill a football stadium.

Plus the code of regulations grows by around 80,000 pages each year, so the monster only becomes larger.

It shouldn’t take being conquered or vanquished by war to have your legal code pruned of dead limbs.

In fact I heard a very smart guy on a podcast some years ago talking about how every law in the US should have a sunset clause so that it’s automatically abolished in, say, 5-10 years.

Bad laws will expire without any further action from Congress. Necessary ones will be updated and refreshed.

That “very smart guy” happened to be Elon Musk. And I imagine that was exactly the type of reform he had in mind when he bank-rolled Donald Trump’s presidential campaign... and it’s exactly what “Liberation Day” should have been.

Not across the board tariffs on staunch allies. Not bazillion-gajillion percent tariffs on China.

They should have liberated Americans from the 200,000+ page Code of Federal Regulations... many of which serve no purpose other than to frustrate commerce and productivity.

Bizarrely, for politicians who claim to care about “small business” and “the working class”, most of these rules hit small businesses and workers the hardest because they don’t have the resources (unlike big companies) to navigate Byzantine regulatory codes.

They’ve made it extremely difficult (to downright impossible, depending on the industry) to start a productive business. Good luck starting a restaurant in the state of California. Or a copper mine in the state of Arizona (where one unlucky business has been in permitting for 20+ years!)

The government doesn’t need to centrally plan anything; they just need to get rid of regulatory obstacles which make it more difficult for Americans to be more productive. And this is essential to saving the country from its $2 trillion annual deficits, and $36 trillion national debt.

You don’t need a PhD in economics to understand this problem; quite simply, the US economy needs to grow faster than the debt. That isn’t happening right now.

These days, the debt is growing by more than 5.5% annually, far outpacing economic growth. So saving the country’s finances mean that GDP needs to grow by at least 5.5%, and ideally much more.

And while that sounds like an unrealistic goal, it’s totally achievable; with all the talent and investment capital in the US, along with AI, robotic automation, and nuclear power on the horizon, the US should be able to grow at 7%+ per year.

That could have happened if Liberation Day had actually liberated Americans from job-killing laws and productivity-constraining regulations.

I have said many times in the past that America’s problems are still technically fixable, but that the narrow window of opportunity is rapidly closing.

It’s beyond frustrating to see these problems continue to grow worse. And it’s becoming harder every day to imagine a scenario where we don’t end up with a currency crisis or major inflation down the road.

I still hold out hope that sanity prevails... that, even if at the last minute, the US government summons the courage and clarity to do the right thing for America once and for all, and avoid the worst outcome.

I hope.

But as we used to say in the military, hope is not a course of action. And that’s why it makes so much sense to have a Plan B.

To your freedom,  James Hickman  Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/what-liberation-day-could-have-been-152940/?inf_contact_key=0f1d9fe0303c853725f454bfcae2c92a5829043fa73cf2bc2dd7addb4cb374c3

5 Ways To Prepare Your Finances

5 Ways To Prepare Your Finances

G. Brian Davis  Thu, June 12, 2025  GOBankingRates

The Trump Administration Says Tariffs Aren’t Going Away: 5 Ways To Prepare Your Finances

In an appearance on Fox News, Commerce Secretary Howard Lutnick made the Trump Administration’s position clear: “Rest assured, tariffs are not going away.”

The Administration has signaled that they will not extend the current 90-day pause on many tariffs. So how should American consumers prepare for a jolt in prices?

Slash Spending Now

Don’t get caught flat-footed by price jumps. Start cutting back on spending now, to soften the impact when the worst of it hits.

“People often wait too long to pivot when it comes to their finances,” said Charles Hoff, financial education counselor at DFCU Financial. “Plan for the worst scenario now, which means cutting expenses to a level where you are living ‘well below your means’ so you can absorb increasing costs.”

Deepen Your Emergency Fund

As you rein in your spending, use the surplus to pad your emergency fund.

Robert Gabriel, financial specialist with healthcare platform Vosita, explained that most financial experts recommend emergency savings that can cover three-to-six months of living expenses. “With the volatility tariffs will create in the economy and prices, shoot for the upper part of that range. A well-cushioned emergency fund serves as a shock absorber against price hikes or possible income disruptions.”

Don’t just leave that cash losing money in an account earning no or low interest, either. Find a high-interest savings account that can hopefully keep pace with inflation or at least reduce the loss in purchasing power.

TO READ MORE:   https://news.yahoo.com/news/finance/news/trump-administration-says-tariffs-aren-100245267.html

7 Reasons You Should Update Your Bank Account Password ASAP

7 Reasons You Should Update Your Bank Account Password ASAP

Jacob Wade  GoBankingRates

According to a recent survey by GOBankingRates, 17% of Americans have never changed their bank account passwords.  This means the money parked in those accounts could be vulnerable to online thieves. With massive data breaches becoming a common trend, phishing scams and fraud schemes running rampant online, and password cracking software becoming more sophisticated, it’s important to stay up to date on securing your financial accounts.

If you haven’t changed your bank account password, here are seven reasons to do it today.

You Use the Same Password for Other Accounts

Most people have been guilty of this. With so many accounts moving online, it’s easy to use the same password over and over again. But this is a mistake that hackers want you to make, especially with your financial accounts.

Using the same password for multiple accounts puts you at more risk. If there is a data breach for any of your online accounts, hackers now have access to your password for that account. The first thing they will do is attempt to use this same username/password combo for multiple types of accounts, including your bank account.

If you have no other protections in place, they can quickly drain your accounts, leaving you with no money and no recourse. Always use unique passwords for each online account.

Be Real — It’s Been a While

While you don’t necessarily need to change your password every month, if you haven’t changed your bank account password in a few years, it might be time to mix it up. With data breaches across major companies, it is likely that an old password of yours might have been compromised. This can be quickly remedied with a password change for each of your financial accounts.

A good rule of thumb is to update your password every two years. Research from the Federal Trade Commission suggests that mandatory password changes aren’t as effective as just setting a strong password in the first place. But changing your password every few years can help keep your passwords protected from data breaches.

Your Password Is Saved In Your Browser — and Is Easier To Access

https://finance.yahoo.com/news/7-reasons-bank-account-password-190018206.html

7 Money Habits That Can Make or Break You

7 Money Habits That Can Make or Break You 

Credit.com   Yahoo! Finance/Thinkstock -  Todd Tresidder

Why do you keep buying things you can’t afford? It makes no sense: it’s not rational. Nobody wants to be in debt.  The answer is simple: debt problems are emotional, not rational. Debt results from unconscious habits and attitudes that cause you to spend more than you can afford.

In other words, everyone knows the first law of finance is to spend less than you make. That is how you stay out of debt. Unfortunately, knowing what to do and actually getting it done are two different issues.

That’s why being on the right side of these seven financial practices is critically important to your financial success. They can close the gap between knowing what to do and actually getting it done – simply by changing your daily habits. It is the easiest way to solve your debt problems and begin building wealth.

The good news is this means you have the power to improve your financial situation no matter where you are at today. You created your habits, and your habits produce your long-term financial results. That means you’re in charge and have the power to make positive changes.

Consider the following seven financial practices that can take you to debt or wealth. The habits you choose will determine your financial success or failure.

1. Emotional Spending

Here is a simple test to determine if you’re an emotional spender:

    Do you use shopping to relieve stress or escape boredom?

    Do you use shopping as a pick-me-up or entertainment?

    Do you celebrate by shopping for a treat?

    Do you ever shop as a form of “retail therapy?”

    Do you use shopping for social connection?

    Do you have clothes in the closet with the tags still attached?

    Do you have more than one of the same item?

    Is your credit card bill so large that you can’t afford to pay it off at the end of the month?

    Do you ever feel an endorphin rush when making a purchase?

    Do you experience anxiety, guilt, or remorse after shopping?

    Do you ever hide purchases from friends or loved ones?

If you answered “yes” to one or more of these questions, then you might have an emotional spending problem.

Emotional shoppers become addicted to the temporary endorphin high that comes from buying. You’re genetically programmed to pursue what makes you feel good, turning spending into a physiological habit like a drug. That’s why excessive spending is about the emotional experience from buying stuff and not the stuff itself.

The purchase brings temporary yet immediate gratification (even if it causes debt).

The wealthy habit is to spend based on needs — not wants — and to plan purchases rather than buy spontaneously. A good habit for breaking emotional spending is to force a two-day cool-off period for all non-planned purchases so your emotions can settle down. If you still want it after two days then it may actually be worth buying.

2. Addiction

Closely related to emotional spending is addiction, but this can be an addiction of any kind — not just shopping. Gambling, drug and sex addictions are highly destructive — both financially and otherwise. The ensuing debt spiral may be the least of your worries but is often a consequence.

The wealthy habit is to avoid all forms of addictive behavior and live in balance — admittedly easier said than done. If you face addiction issues, the solutions are beyond the scope of this article. Seek professional help and consider one of the 12-step “Anonymous” programs tailored to your specific addiction.

3. Entitlement

Entitlement thinking is the belief that you magically deserve all the good things in life regardless of what your financial statement says. After all, why shouldn’t you have designer clothes, a big-screen TV, pedicures and a new car? Everyone else does, right?

TO READ MORE:    https://finance.yahoo.com/news/7-money-habits-break-110023407.html

6 Most Useful Lessons I've Learned From My Wealthiest Clients

6 Most Useful Lessons I've Learned From My Wealthiest Clients

Business Insider  Jovan Johnson  Sun, June 8, 2025

I've been a financial planner for over 10 years. Here are the 6 most useful lessons I've learned from my wealthiest clients.

I'm a certified public accountant and certified financial planner with over a decade of experience helping high-income professionals and diverse business owners take control of their finances. My clients range from medical professionals to small businesses, and I help them grow their wealth, reduce tax burdens, and run more profitable businesses.

Many of my high-net-worth clients share common habits, mindsets, and strategies that helped them build and maintain their wealth. The good news is that anyone can apply these habits to improve their financial life.

Here are six of the most useful lessons I've learned from my wealthiest clients.

The more you give, the more you receive

One of the most profound lessons I've learned is that life becomes richer when you focus on pouring into others, rather than just focusing on yourself.

For example, clients who are generous with their employees often see retention rates soar. This principle extends beyond finances into mental well-being, relationships, and overall happiness. Generosity has a way of opening doors that talent or hard work alone sometimes can't.

Many of my wealthiest clients often share that they wouldn't be where they are without the generosity of others who helped them along the way.

Relying on others is the only way to accomplish everything

Wealthy individuals often have incredibly demanding schedules, leaving little time for personal tasks or downtime. One key to their success is recognizing the power of outsourcing and delegation.

Whether they hire a nanny to help with childcare or work with a financial advisor to manage their finances, they understand that they can't do it all alone. Instead of trying to juggle every responsibility, they build a trusted team around them with professionals who help them stay focused on what matters most.

They become comfortable relying on others, knowing it's the only way to accomplish everything on their plate while still maintaining their sanity and quality of life.

You can only go as far as your health allows

If you don't take care of your health, it will be harder to reach your goals, no matter how important they are. Many of my wealthiest clients have learned this firsthand. They've realized that when their mental, physical, spiritual, or emotional health is off-balance, their ability to lead, create, and perform suffers.

As a result, they intentionally make time and invest in activities that support their overall health, such as exercise, therapy, spiritual practices, or rest. Prioritizing health is not a luxury; it's a necessity.

TO READ MORE:  https://www.yahoo.com/finance/news/ive-financial-planner-over-10-170701688.html