Realize that it is not the amount of money you make that counts. What counts is the amount of money you keep after your bills are paid and how you put that money to use. In other words how you handle and spend your money is what matters.
It’s Not How Much You Make …
Posted in My Financial IQ
Leave a comment
Stop Money From Leaving Your Wallet!
Even though life is busy, take a minute and think. Have you done all you can to stop money leaving your wallet? Money gets away from us through oversights, mistakes, and unnecessary spending.
Clear out any clutter around you. Clutter robs us of focus and takes attention from the things we need to do. Most importantly, keep the area reserved for financial papers (your office, desk or drawer) free from clutter. This allows you to respond to things in a timely manner, i.e. find bills that need to be paid, loan documents that need to be completed, and any other financial task that needs to be addressed.
Posted in My Financial IQ
Leave a comment
Let’s Talk Money!
Am I safe to assume that we all want to improve our lives, regardless of where we are and our level of accomplishment? Good, then let’s talk about it. Specifically, let’s talk about money and how our feelings about it affect our lives.
Money is a charged topic. It contributes to relationship stress and failure, it motivates some to resort to crime and others to excel in their fields. Overall, it triggers a wide range of behaviors and emotions in us. While many are comfortable with money many more experience an emotional roller coaster just thinking about it.
Continue reading
Posted in Money & Mind
Leave a comment
Your Beliefs About Money
Is your glass half full or half empty? Do you see abundance or only lack? Do your beliefs serve you or hold you back? If you find they hold you back, take the necessary steps to change them. Becoming aware of your beliefs allows you to make corrections and adjustments in your belief system.
~from “77 Useful Tips & Strategies to Improve Your Financial Health” (c)2005 Johanna Hofmann, MBA
Posted in Money & Mind
Leave a comment
Your Relationship With Money
Many women have learned that money does not make us happy nor does it buy us love. We have also learned that our culture values a big house, expensive jewelry, and fancy vacations. No surprise we’re confused and often have conflicting values around money.
Take stock in how you feel about money. Listen to your self talk. Is it that you cannot afford something or that you ask yourself “How can I afford it� Is it time to change your money talk?
~from “77 Useful Tips & Strategies to Improve Your Financial Health” (c)2005 Johanna Hofmann, MBA
Posted in Money & Mind
Leave a comment
Is Too Much Credit Really a Good Thing?
Paying today, tomorrow and the day after tomorrow for what has been used up, consumed, and in many cases forgotten, has consequences. Here are just some of them:
Debt takes dollars away from current consumption. In other words having to service monthly credit card debt takes money away from investing for retirement, building a business, health care for you and your children, education, etc.
Your ability to obtain a mortgage or loan at a favorable rate might be adversely affected.
Continue reading
Posted in Money & Mind, My Financial IQ
Leave a comment
“As The World Turnsâ€
Are you as astonished as I am that another year has gone by? Invariably a part of me feels nostalgic about time gone, about missed opportunities to be, do and have … And yet, there is another part of me feeling excitement about the possibilities new beginnings can bring.
Continue reading
Posted in My Financial IQ, Taxes
Leave a comment
“Lot’s of money left behind!â€
Might some of it belong to you?
According to NAUPA, the National Association of Unclaimed Property Administrators, billions of dollars are being left behind by unsuspecting citizens in the form of unclaimed property. Unclaimed property refers to accounts and monies left at institutions and companies, where there has not been any contact with the owner for a year or longer.
Continue reading
Posted in My Financial IQ
Leave a comment
Protect Yourself! Part 3 of 3
Part 3
Finally, let’s see what you can do if you have fallen victim to a scam or theft.Stay calm, take a deep breath and go to work. Overall, you want to respond quickly and not waste any time!
• At once close any accounts that have been affected (credit card, banks, newly opened accounts in your name, etc.).
• Do not reuse old PINs.
• Contact the fraud department of the credit bureaus and attach a fraud alert to your credit file. The intention is for you to be notified if there is any activity with your credit. You should also receive a copy of your credit report from the credit bureaus.
• File a police report. Make sure you get the report number.
• Keep a close eye on your credit report. Correct any information that is not correct.
• Cancel, where possible, old and obtain new identification: drivers license, social security number, insurance cards, library cards, etc.
• File a complaint with the Federal Trade Commission (www.ftc.gov) .
• Complete a fraud affidavit and send it to all your creditors (see the FTC website for details).
• Keep excellent records of all your correspondence with creditors and agencies regarding your situation: document, document and document.
Once identity theft has occurred, on average, victims spend over $1,500 and countless hours clearing his or her name. A handful of companies offer an identity theft program. One of them, PrePaidLegal, offers the Identity Theft Shield program, where membership includes regular credit report monitoring, credit report evaluation and identity restoration. To find out more you can go to: www. prepaidlegal.com/hub/hofmannjm.
Additional information regarding issues of identity theft can be found on the following sites:
www.usdoj.gov, www.ftc.gov, and www.idtheftcenter.org.
To contact the credit bureau services go to:
www.equifax.com, www.experian.com, and/or www.tuc.com.
Best regards,
Johanna Hofmann
Posted in My Financial IQ
Leave a comment
Protect Yourself! Part 2 of 3
Part 2
Today, let’s examine what you can do to protect yourself. First and foremost you MUST take steps to protect your personal information including:
Shredding any and all personal information to be thrown out. This includes preapproved credit card applications, any financial documents, credit card receipts, etc. My rule: when in doubt, shred it!
Guard your mail. Be aware of what you put into your mail box and what comes (or does not come) in your mailbox. You may want to have a locked mailbox or a mailbox away from your home. At minimum, be aware of what mail you are expecting. If you don’t receive your regular mail, don’t wait, investigate immediately.
Protect you information online. NEVER respond to emails asking you to verify any personal information. When in doubt, pick up the phone and verify the request.
NEVER give out any personal information over the phone, never give in to requests to verify personal information.
Only do business/use your credit card online with secure sites. Look for the VeriSign or security lock at the bottom of your browser page.
Opt out to decrease the amount of offers and solicitation you receive (with your name and information on them).
Be aware of ATM scams.
Check bank and credit card accounts for accuracy.
Keep a list of account and phone numbers: credit card companies, banks, etc. to cancel accounts should the need arise.
Know the content of your credit report and check it regularly. You are entitled to one free credit report per year. This does not count as a credit inquiry and hence does not count against you.
Use Your Common Sense!
Check back for part 3, where we will discuss what to do if you have fallen victim to Identity Theft. Until then!
Posted in My Financial IQ
Leave a comment