Is FOMO Making You Poor?

Doesn’t it always seem that your friends or people you used to know are just flat out having a better life than you?  If you tune in to Instagram or Facebook on a daily basis, you’ll find someone who snapped a picture of themselves in a far away luxurious destination or in the front row of the latest concert in town.   With all of these images barraging us every day, does it have an effect on how we think about spending our money. One phenomenon to hit the scene in the past few years is a concept called (FOMO) which is the Fear Of Missing Out.  This is a far cry from (BOGO) Buy One Get One, so please don’t confuse the two of them.   With the power of social media today and the strong suggestions of images, we can often feel like we are missing out in the good times…the fun times…the best of times from what we see ...

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VIDEO: How Millennials Can Retire With A Million Dollars

Nearly two-thirds (64%) of working millennials say they will never accumulate $1 million in savings over their lifetime, according to the Wells Fargo Millennial Study. Six in ten (59%) of millennials have started saving for retirement, whereas 41% have not. Of the millennials who are not saving for retirement, 64% say they are “not making enough money to save for retirement.” The Wells Fargo Millennial study was conducted by GfK and surveyed over 1,000 U.S. adults between the ages of 22 and 35, with an additional oversample of 500 Hispanic millennials for comparison purposes. (source:wellsfargo.com)…. Read Full Article at: http://bit.ly/2eXvvpM ...

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Ways To Pay Off Credit Card Debt

Credit card debt is a huge burden on many Americans.  Once you have accumulated the debt, it feels like it is impossible to get out from under.  While getting your current spending under control is the first step (and you may need a financial counselor to help you); there are some things you can do to help pay down the debt. Here are some strategies on paying off that credit card debt.   Paying more than the minimum.  This is a must.  Dig through your cash flow and find a way to cut out expenses, so you can increase your monthly payment to the credit card. Use the calendar to your advantage.  If you can make more than a minimum payment, a proven way to pay more is by make separate additional payments.  Try making a separate half payment every 14 days. Laddering.  Most people with credit card debt have debt on multiple cards.  Make a list of all the ...

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VIDEO: What To Do If You Receive A Severance Package?

When the consulting companies are done offering advice to your corporation on how to make it more effective, the one word you don’t want to hear from upper management is “reorg”. Reorg, short for reorganization, if often a labor intensive process where a large organization systematically eliminates a section of the workforce to streamline their overall processes, people, and systems. When these reductions in workforce happen, one of the possibilities that may occur is to offer you a severance package. The problem for most families is that decisions have to be made so quickly that people often make poor choices on how to best maximize this package. Here are five smart money moves to make when you are offered a severance package. Read Full Article at: https://shar.es/1xFXsV ...

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10 Reasons Why You Can Cut the Cable Cord Now

Did you know that the average cable bundle has 189 channels but the average subscriber only watches 17 of them  (or less than 10%) according to a Nielson study in 2014?  Consumers would like to pay for only the channels they watch and free themselves from the shackles of the cable bundle by cutting the cable cord.  Let’s look at the top 10 reasons why consumers can cut the cable cord now! 70+ Channels of Free Over the Air Channels For those here in Atlanta there are over 70+ free channels available via an HD antenna including all of the major networks such as NBC, ABC, CBS, Fox, CW and PBS.   These are delivered in High Definition (HD) quality which is better than cable/satellite. 100+ Cable channels available through streaming apps Most people don’t want to give up some of their cable channels such as ESPN, CNN, Fox News, etc. Services such as Sling TV and Sony Playstation Vue with ...

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Be Careful About “Washing” Out Your Tax Losses

With more investors trading stocks as a hobby and the number of day traders who have decided to take over their own portfolios, it is incredibly important that you recognize one little nasty piece of the tax code that can hurt you called the wash rule. The wash rule was set up to more closely define how tax losses can be taken for the short term trading of the same securities.   If an individual decided to sell or trade a security they own at a loss and within 30 days of the sale buys a substantially identical stock or security (or an option) their tax losses may be disallowed.  Remember, the rule can also apply if your spouse buys a substantial amount of the security as well. In our current tax code, the wash sale can affect your personal finances with the following consequences. You will not be able to “realize” or claim, the loss on the sale The disallowed ...

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VIDEO: 5 Apps To Impress Your Friends

With the thousands of apps you can download from your Apple or Android phones, every year you will learn of an app or two that you never knew of before. You may wonder why in the world you really need to know about new apps when you don’t even use the ones you have on your phone now. Not only are these apps super cool and have real pragmatic uses, but this is a way for you to impress friends or business acquaintances with something they had no idea existed. Read Full Article at: https://shar.es/1xF04o ...

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VIDEO: Fantasy Football Insurance

Ok, I’ve heard it all now. I’m not a fantasy sports guy, but as a numbers person I can understand the attraction. More than $1 billion is spent each year on Fantasy Sports leagues. League fees can run from free to $1000. The more the 25 million people playing in paid leagues can pocket real money. Those that are spending money find it frustrating to draft a player who gets injured in real life and have to be sidelined on their fantasy team. An injury can ruin your fantasy lineup and your season could be over just as it is getting started. Industry studies show that the average fantasy player spends $467 annually on various sports leagues. Read Full Article at: https://shar.es/1xFXaK ...

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