Your Smart Money Decisions

12/24/2024

Online payment services like Venmo, PayPal, and Cash App make it quick and simple to send funds to friends, family, or businesses you know but use caution when sending money to unknown parties. To find out how much fraud protection each platform offers, it's always a good idea to read over its terms and conditions.

The CFPB filed a $870 million lawsuit against Zelle and three of its owner banks last week for failing to safeguard customers from fraud on their platform since 2017.

Since Zelle does not provide buyer protection, there are no returns or purchase protections, and you are unable to cancel once the money has been sent.

To learn more, read the article:

The Consumer Financial Protection Bureau (CFPB) sued the operator of Zelle and three of the nation’s largest banks for failing to protect consumers from widespread fraud on America’s most widely available peer-to-peer payment network.

11/29/2023

Holidays are a special time to spend with family and friends, celebrating however you choose. But the season typically comes with a little added stress of gifting. While it is generous to want to buy the perfect item for that special someone, keep a few things in mind as you shop and swipe, so you don't stress any more than necessary.

Set a budget. Determine how much you can realistically afford to spend before hitting the stores or going online. Stick to it and avoid any impulse purchases.

Research for any deals that may be had. Before shopping, scout out the best deals, using any online tool available. Price compare, definitely check those reviews, and be informed before making your purchase. Having this knowledge gives you power over the retailers!

Use credit cards responsibly. While many cards may offer perks, be cautious to not accumulate debt. If your purchases can't be paid off next month, think twice before swiping.

Write your list and plan ahead. What do you need and where can you find the best deals? Keep this list handy and stay organized to avoid any last-minute purchases.

Shop locally, if possible. Consider supporting your local business for holiday gifts and contribute to your community. It's a win-win for everyone.

No one wants to be Ebenezer Scrooge, but let's face it, holidays can rack up some heavy bills come due in January (if you use credit). You can be surprised, and not in a pleasant way.

Tips for 2024: Set a budget for next year and set aside a monthly amount to a special savings account. If you come across that perfect gift in June for your BFF, grab it then so you can cross them off your list. Just remember where you hide the gift come next December!

Happy Holidays everyone!

07/27/2023

After three years, the student loan pause ends in August, and interest will start accruing September 1. While repayments do not start until October, the Education Department has finalized a new version of its income-driven repayment plan for student loans (SAVE - Saving on a Valuable Education). If your student loan payments are high compared to your income, an income-driven repayment plan may help. Check out the link below for more details and share with anyone you think may benefit from the new repayment option.

05/26/2023

Don't let money run your life. Waking up with anxiety over paying bills is not living. Thinking that more money will bring you more joy is not living. Recognize that you need to organize your finances and take control of your financial future, so you can start living the life you want. Visit us at https://ysmdecisions.com to schedule a complimentary 20-minute consultation and see if financial coaching is right for you.

Nurture your financial well-being and build the life of your dreams

04/18/2023

It was reported last week that inflation for the month of March dipped to 5% (decreasing for nine straight months). What tips or tricks have you used to stretch your dollar over these past few years?

04/13/2023

Financial stress is everywhere; you are not alone. See if financial coaching is right for you with a complimentary 30-minute consultation. https://ysmdecisions.com

04/06/2023

Did you know that many are experiencing a higher level of anxiety around finances and financial stability than in previous generations?

Yes, right now there is constant talk of inflation, unemployment, and market woes that dominate the headlines. But having someone to balance out the noise and help you focus on organizing your finances is an important first step in nurturing your financial well-being.

See what we're about. Visit https://ysmdecisions.com for more information.

Nurture your financial well-being and build the life of your dreams