Finance

Practical Money Lessons for Kids Just in Time for Summer

Just in Time for Summer, Practical Money Lessons for Kids

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Summer break is the perfect occasion to discuss finances with your family. Events like vacations, road trips, or even gardening projects involve cycles of saving and spending. These money lessons for kids will last a lifetime, and we've broken them down by age. As you teach your child financial literacy, remember to use the summer fun to your advantage.  Introduce the concept of money (age 2-3) While at the beach, play a game of trading shells for other items. As the play continues, explain to your child that money works in the same way. To obtain goods and services, people...
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Senior Fraud Awareness and Financial Security

Senior Fraud Awareness and Financial Security

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Scams are everywhere; however, diligent people are too. While con artists will stop at nothing to exploit the vulnerable, there are programs in place to help. After recognizing increased fraudulent activity targeted towards older adults, the U.S. Senate declared May 15th as National Senior Fraud Awareness Day.  On this day, the nation recognizes the need to protect older individuals. Additionally, twenty-four states enacted age-specific laws and resolutions. There's no doubt that every person should guard themselves against scams. Nonetheless, each year, there are about 7.86 million cases of suspicious activity directed towards the elderly. Senior Fraud Awareness day is not only important,...
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Certificates of Deposit, Easier Passive Income Than Crypto

Certificate of Deposit, Easier And Insured Passive Income

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Imagine a savings account that could do more with your money. If you had the opportunity to set funds aside for six months, with a stable interest return, would you? Enter into the savvy-savings of a certificate of deposit account. Not only do these investments have the lowest amount of risk, but they are the simplest form of passive income. How does a certificate of deposit work? With a certificate of deposit, there is no need to log in every day to check prices. Since most CDs hold for a minimum of six months, the fluctuating market has little effect...
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How to Stay Within IRA Contribution Limits but Retire Happily

A Credit Union’s Advice on IRA Contribution Limits

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When people retire, they desire financial security. They want to ensure that money won't be an issue down the road. That's why, even after setting up a 401k, savvy savers take an additional step. It's called an individual retirement account (IRA), and it allows you to make higher personal supplements than with your employer. IRAs offer more investment choices at lower fees. And, even if you meet all IRA contribution limits, you're still on the path towards a comfortable retirement.  Facts about individual retirement accounts There are some surprising facts about IRAs, some of which could go to your advantage. Take...
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New Boat Ownership and Finance Options

Boating Basics and Finance Options For Anyone

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As temperatures heat up, many people plan to enjoy some time outdoors. What better way to celebrate the warmer weather than to take a refreshing dip into our beautiful oceans? With some important boating basics under your belt is easier than you think. Topped with great financing options, you'll be cruising around the water in no time. Unsure what to look for in a new boat? Don't worry. This article covers it all. Continue reading below for the full details on boating basics.  First-time boat owner checklist Before becoming captain of your vessel, you'll need to know a few things....
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The New Tax Season Deadline Automatically Extends Filing Time

The New Tax Season Deadline Automatically Extends Filing Time

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A change to the tax season deadline brings a sigh of relief to many filers. The Treasury Department and Internal Revenue Service announced an automatic extension to the 2020 federal income tax filing due date for individuals. The timeline will move from April 15, 2021, to May 17, 2021. "This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers," said IRS Commissioner Chuck Rettig. The new tax season deadline "will help taxpayers navigate the unusual circumstances related to the pandemic." While the season's extension provides more time,...
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What is a HELOC Draw Period?

What is a HELOC Draw Period?

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A home equity line of credit is a powerful financial tool. Borrowers obtain money by using their homes as collateral. During a HELOC draw period, the borrower has control. They do not have to utilize the full availability if they don't want to.  HELOCs help because the interest rates are usually lower than credit cards. For instance, Achieva Credit Union allows you to borrow for as low as 2.99% APR. You can fund things such as medical expenses, home renovations, or even college expenses. By unlocking your home's value, you can reach your financial goals. Can you pay off your balance...
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David Steward on Being a Black Billionaire In Tech

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Tech billionaire David Steward changed the structure of the online business experience. His company, World Wide Technology (WWT), is one of the largest Black-owned organizations in the U.S.  In honor of Black History Month, we would like to showcase his contributions to both cyber security and workplace diversity. With business and personal philosophies standing as one, Steward proves that doing GOOD is the best investment. Childhood experiences shaped future business practices Raised in central Missouri, Steward faced poverty and discrimination during his childhood. Because so, gaining profit was never his business motivation. His objective was to serve others. As his...
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Using Auto Refinancing to Reduce Your Installment Debt

Using Auto Refinancing to Reduce Your Installment Debt

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Auto refinancing is an often overlooked term. However, going through the process could save you hundreds of dollars. While many are reactive towards installment debt, changing to a proactive plan will benefit your financial future.  Can you lower your monthly car payment without refinancing? There are three tactics to lower your car payments without going to a new lender. You can: - prepay as long as your current terms do not enforce penalties, - ask your current lender to lower your rates, - or extend your payment timeline.  Each option can lower your payment, but it won't necessarily reduce your...
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What the FTC Warns About Cryptocurrency Investing

What the FTC Warns About Cryptocurrency Investing

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News about cryptocurrency investing is flooding the headlines. So far, several CEOs (and one city mayor) have announced a sudden interest in Bitcoin. As familiarity grows for digital currency, we though it was a good idea to discuss it in length.  Even with the uptick in Bitcoin activity, the FTC stands by its previous warnings. It is crucial to understand that cryptocurrency investing does not have the same protections as trading with the U.S. dollar. No one can guarantee that you will make money. They also advise against investing money you can't afford to lose.  What is Bitcoin? To understand Bitcoin,...
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