6 Money Problems That Didn’t Exist 50 Years Ago
.6 Money Problems That Didn’t Exist 50 Years Ago
Cynthia Measom Mon, July 19, 2021
For consumers today, America is much, much different than it was 50 years ago in the 1970s. For example, you can buy almost anything you want or need from your phone with easy monthly payments, the cost of child care can decimate your paycheck and if you take out student loans to pay for college, you can financially cripple yourself for decades after you enter the workforce.
If you are like most people, you use technology throughout each day, which means that you are likely constantly bombarded by various ads, videos, emails and text messages that are designed to influence you to spend money. And if you make a habit of taking the bait, you can create a whole host of additional issues for yourself -- from identity theft to fully utilized credit card limits.
How to Spot Counterfeit Money
.How to Spot Counterfeit Money
How can you tell if money is fake? Check the bills in your wallet with these methods.
By Geoff Williams | July 21, 2021 U.S. News & World Report
Checking counterfeit money light. 100 dollars against the window in his hand. Check for watermark on new hundred dollar bill. translucence of the American currency.
If you hold the bill toward the light and there's no watermark or if you can see the watermark even without holding it up toward the light, then the bill you're holding is probably a counterfeit.(GETTY IMAGES)
It would be easy to assume that it's rare to encounter counterfeit money. After all, plenty of people rely on credit and debit cards and even cryptocurrency, and go long stretches of time without touching a dollar bill or quarter. But cash isn’t exactly dead yet. Every week, it seems, counterfeiters make news throughout the country.
What Not To Do While Trying To Get Out of Debt
.What Not To Do While Trying To Get Out of Debt
Know how to pay off debt so you don't make costly mistakes.
By Jaime Catmull April 30, 2021
If worrying about how to pay off debt keeps you awake some nights, late-night television abounds with alleged solutions. Some ads even promise to get rid of your debt for “pennies on the dollar.”
Fall victim to these “deals” and you might be left with worse financial troubles than before. But these aren’t the only foolish ways of paying off debt. Financial experts shared some common mistakes people make while trying to get out of debt — avoid making these same missteps.
1. Not Having a Reasonable Debt Repayment Strategy
What Is the Social Security COLA?
.What Is the Social Security COLA?
For the average recipient, the 2021 monthly increase doesn't even cover a fill-up at the gas station — but it beats nothing.
by: David Payne July 14, 2021
For 2021, Social Security benefits increased by 1.3%. That was the smallest cost-of-living adjustment (COLA) since 2017 — but consider that, initially, thanks to pandemic-induced price gyrations — retirees were looking at the prospect of no increase at all in 2021.
The estimated average monthly Social Security benefit payable in January 2021 increased from $1,523 in 2020 to $1,543 — that’s one Andrew Jackson. The average monthly benefit for a couple who are both receiving benefits rose $33, from $2,563 to $2,596. And the maximum Social Security benefit for a worker retiring at full retirement age increased from $3,011 per month to $3,148, an additional $137.
14 Money Moves You Will Be Thankful For
.14 Money Moves You Will Be Thankful For
Keep your financial goals on track by tackling these tasks.
By Maryalene LaPonsie
Take these steps to improve your finances now.
There is no time like the present to start improving your finances. “Procrastination is the No. 1 reason people fail in retirement,” says Luke Lloyd, wealth advisor and investment strategist with Strategic Wealth Partners in Independence, Ohio.
However, it’s not just your retirement that will benefit from being proactive about finances. You can save money on debt, eliminate headaches for your heirs and free up cash for the things you want by making the following 14 expert-backed money moves.
Budget For Future Expenses.
How the Pandemic Has Changed Banking – Maybe Forever
.How the Pandemic Has Changed Banking – Maybe Forever
COVID-19 has totally changed how we use our money.
By Ann Logue January 17, 2021
Like almost everything else, banking has changed significantly during the pandemic. More Americans than ever are navigating online banking thanks to social isolation, while banks have been placed at the center of the American government's loan program propping up small businesses.
If you've been looking for the best ways to bank in the midst of COVID-19, we've dug into some of the most significant changes for the industry.
More Mobile Banking
In April, banks reported a 200% increase in new mobile banking registrations. Customers used these to deposit checks, track balances, and transfer funds without visiting an ATM or a branch.
12 Essential Money Tips for Every Phase of Your Financial Life
.12 Essential Money Tips for Every Phase of Your Financial Life
Get the secrets money experts want you to know. By Gabrielle Olya May 17, 2021
Everyone makes money missteps at some point in their lives, whether it's splurging on unnecessary items or neglecting to contribute to retirement funds as soon as possible. Even financial pros are not immune to making mistakes. To help you avoid unnecessary pitfalls, check out these tips and tricks that can help you live your best money life -- no matter your age.
Start With Saving
Although it’s tempting to spend rather than save when you get a paycheck, it’s important to prioritize putting money away into your checking or savings account. On top of that, you should also use the right checking or savings accounts to grow your money.
Easy Tips and Home Projects to Help You Save Money
.Easy Tips and Home Projects to Help You Save Money
July 5, 2021 Teresa Siqueira
Whether you rent your home or have a mortgage, total monthly costs can seem overwhelming. Fortunately, there are plenty of simple and easy home projects you can do that will not only improve the value of your home, but that will also help you to save money over time. From making a few simple updates to your plumbing or growing a garden, it’s easy to tweak your lifestyle and home to put more cash in your pocket. Read on to discover how making a few strategic improvements around the house can benefit your bottom line.
Set up a household budget
The best way to save money is by drafting a budget to track your income and expenses and determine where you could save.
Want To Borrow Money From a Friend or Family? How To Approach the Subject
.Want To Borrow Money From a Friend or Family? How To Approach the Subject
By Laura Woods May 7, 2021
You’re strapped for cash, so you’re thinking about asking a friend or family member for a loan. Whether you need a small amount to get by until payday or a larger sum for a major life event — i.e., seed money to start a business — you’re not sure how to structure the ask.
There’s a common school of thought that mixing loved ones and money just doesn’t work. Of course, everyone doesn’t share this mindset, so tread lightly to ensure you don’t inadvertently tarnish your relationship with the other person.
Jodi RR Smith, president of Mannersmith Etiquette Consulting, said borrowing money is rarely easy — especially when you’re asking friends or family for the loan.
Someone Owe You Money? How To Get It Back Without Ruining the Relationship
.Someone Owe You Money? How To Get It Back Without Ruining the Relationship
By Laura Woods July 9, 2021
You lent money to a friend or family member and they haven’t paid you back. Since you thought this was a short-term arrangement — and definitely not a gift — you feel like it’s time to ask for repayment, but you’re stressed about it. This is a person you care about, so you don’t want to strain your relationship. However, you need your money back, so you’re willing to initiate this uncomfortable conversation, but you want to do it the right way.
“On many occasions the way we ask for the money to be paid back can be truly detrimental,” said Maryanne Parker, founder of Manor of Manners etiquette consulting. She said the best way to ask depends on your relationship with the other person, the amount of money owed and the situation.
23 Money Mantras to Live Your Life By
.23 Money Mantras to Live Your Life By
Start living a richer life today.
By Barri Segal
Achieving financial freedom is no easy task. If you're tired of living paycheck to paycheck, relying on coupons and dodging bill collectors, you might be in desperate need of some solid money advice to help improve your financial situation.
With that in mind, GOBankingRates asked America's top money experts to share their money mantras. Consider these quotes the next time you need to make any money decision -- big or small. Even better, you could use their words of wisdom to grow your wealth.
Click through to see the experts' motivational money mantras. With advice ranging from how to take control of your finances to becoming a better investor, these money tips can help you get rich.