Queen of Free’s 5 easy methods to economize

Cherie Lowe shared her favorite strategies for saving more money on 13Sunrise.

INDIANAPOLIS – Some of the best principles for avoiding debt and increasing wealth are based on a few simple habits.

Cherie Lowe, the Queen of the Free, shared her five easy money strategies on 13Sunrise and this week on her blog.

First, withdraw extra money from your checking account before you spend it, because despite your best intentions, you WILL spend it. Move a paycheck bonus, unexpected windfall, or cash that exceeds your budget into savings ASAP. You can always send the money back if the car needs to be repaired.

If possible, schedule your bill payments with Autopay to avoid late fees. If your utility or creditor allows, try scheduling a regular monthly payment on a specific day to match the receipt of your paycheck.

Save a percentage from every paycheck. On her blog, Cherie explains how to get the same percent off every paycheck, gift, or even flea market proceeds for retirement, charity, college fund, vacation expenses, vacation, or emergency repairs for your home and vehicles. Even a few dollars at a time can add up if you stick to your plan.

If you’re under budget on one line for the month, “Even if it was $ 2.81 for the light bill or $ 0.75 for the grocery budget,” Cherie says, add that excess cash to one of the funds above, or direct it to repay a larger debt.

Finally, avoid the urge to hit the “Buy” button. With a purchase, sleep before you make it. “If it’s not a real need,” says Cherie, “sit down for at least 24 hours with your decision to make sure you really want the item.”

Watch Cherie’s segment with Jalea Brooks from 13Sunrise in the video player.

These steps might help shield your cash and your info. How a easy electronic mail or textual content message may open you as much as fraud. – Los Angeles Sentinel | Los Angeles Sentinel

These steps can help protect your money and information. How a simple email or SMS can open you to scams.

Thoughtful young African American women sit at the PC in the home office and prepare to spend money online with a personal plastic card. Smiling biracial woman making payment by bank transfer on ecommerce website

The pandemic has accelerated identity theft – and the impact on ordinary people is significant. In fact, the Americans have more than lost $ 382 million on fraud related to stimulus checks and unemployment benefits, counterfeit treatments for COVID-19, and more, according to the Federal Trade Commission (FTC).

Even worse, Black and Latinx consumers are more likely to be victims of fraud than their white counterparts. Because of this, it is important to identify activities that are aimed at stealing your hard-earned money.

JPMorgan Chase is available to help consumers spot suspicious activity – from fake emails and texts to fake claims about ways to stay healthy. We sat down with Jordan King, the local community manager of the Chase Community Center branch on Crenshaw Blvd., to discuss tips and best practices for a better financial future.

Dissatisfied couple customers who are entitled to contractual terms, various customers who sit at the table and argue with the broker about mortgage loan or real estate problems, fraud and bad contractor concept

What should consumers watch out for with scammers?

King: Let’s start with emails and texts. Phishing is the fancy name for email purporting to be from legitimate companies – including banks. They really come from criminals trying to get your personal information like passwords and credit card numbers.

The email may ask you to reply or click a link that will take you to a website that is similar to your bank’s website. You will then be asked to provide your username, password, account number, personal identification number (PIN), social security number, or other personal information. In addition, if you click an attachment on this email, software called malware may be downloaded that tracks or steals your information.

So be very careful when clicking on a link in an email. instead go straight to the company’s website. And don’t click attachments unless you are sure they are from someone you know and trust.

Scammers are increasingly starting to contact victims via text or phone, mostly from a number they don’t know, telling them there is a problem with your bank account, including it being closed, frozen, or canceled unless You call a phone number or go to a website listed in the message and provide your personal and / or account information.

Are there any specific signs to look out for?

King: Yes, here are a few surefire ones:

  • Scammers will often tell you that they are a Problem or price. You may say you are in trouble with the government, you owe money, someone in your family is having an emergency, there is a problem with your account, or you won the lottery. Remember – if it sounds too good to be true, it probably is.
  • After you set up the problem or the price, become scammers urge you to act immediately. They want you to hand over your sensitive information before you have time to think about it. They could threaten you, emphasize a sense of urgency, or say you are running out of time. However, no legitimate business or government agency will pressure you in this way or request your personal information, such as your social security number, bank account, or credit card numbers, by phone or email.

How can consumers protect their money and information?

King: Here are some best practices:

  • Protect your online information. Download and update antivirus software for your computer, and do not enter sensitive information on public computers or on unsecured networks. Also, be careful about disclosing your financial username and passwords online – this includes financial websites and apps that offer tools to help you manage your accounts, invest, or prepare your taxes.
  • Only buy from safe websites. Look for a lock symbol in the address of a website. This helps protect your credit card number, expiration date and three-digit CVV.
  • Change your passwords often. Change your passwords frequently and use a combination of letters, numbers, and special characters. Don’t use your pet’s name, your child’s name, or anything else that is easy to find out.
  • Create a separate password for each financial institution. This offers an additional level of protection in the event that a problem occurs at an institution.
  • Monitor your accounts. Log into your accounts regularly – even daily – via online banking or your mobile banking app to monitor transactions and your account balance. Look for transactions that you don’t recognize. You can also view your monthly statements and contact your bank immediately if you have any problems.
  • Set up an additional confirmation. The correct name is two-factor or multi-factor authentication. It just means you have to take an extra step or two to access your information. For example, you can request that a text message with a code be sent to the cell phone number that you previously provided to the company. The first time you log into your Chase account electronically or with a device unknown to us, we will ask for your username, password and a temporary identification code. And we will send it to you by phone, email or SMS.
  • Destroy sensitive documents. Destroy bank records, checks deposited through mobile banking, and other documents that contain your account information. Keep monthly checking and savings account statements in a safe place until you file your taxes and then destroy them as well. Chase and other banks offer paperless statements so you can view the information online without having to worry about paper.
  • Check your credit report. Read your credit reports carefully at least once a year. You can request a free annual credit report from any of the three national credit reporting agencies, even if you do not suspect any unauthorized activity is on your account. visit annualcreditreport.com.

A businessman shops online using his cell phone and credit card

How does Chase protect customers from fraud?

King: We see it as a partnership; We help protect your accounts and information, and so do you. We monitor all of our accounts 24/7 including the use of security measures that you cannot see.

Even if we find or flag a transaction that you have not authorized, we offer Zero Liability Protection, which means you will not be held responsible for it.

Stop by our Crenshaw Blvd store or our other locations to learn more about JPMorgan Chase’s commitment to customer safety through our fraud prevention and protection tools. I look forward to working with you.

JPMorgan Chase & Co.

5 Easy Methods Investing Can Double Your Cash

If you invest long enough, it is possible that you will end up with twice as much money as you did when you started. It is incredible to accomplish this feat, and accomplishing it without spending extra money is even better!

However, it can be done, and it’s easier than you probably think. Here’s how long it would take, depending on how your accounts are split between stocks and bonds.

Image source: Getty Images

The rule of 72

The rule of 72 is a popular way to estimate how long it will take to double your investment Asset allocation model. You just take the number 72 and divide the rate of return that you think you can expect. So if you think you will make 10% over the life of your investments, it would take roughly 72/10 = 7.2 years to turn $ 100,000 into $ 200,000.

A conservative portfolio

A portfolio that is 100% bonds would be considered conservative, and that allocation would have one average return of 6.1% between 1926 and 2020. Under the rule of 72, it would take 11.8 years to double your investment at that rate.

A moderately conservative portfolio

If you had added 30% stocks to your accounts during this period, your average return would have grown to 7.7%. According to the rule of 72, you would have twice as much money in 9.4 years.

A balanced portfolio

If you had a balanced portfolio, you’d hold 50% stocks and 50% bonds, and your return would have risen to 8.2% on average. At this rate of return, after around 8.8 years, you could double what you started with.

A growth portfolio

With a growth portfolio, you would have owned roughly 70% stocks and 30% bonds, and your return on that period would have been 9.4%. At that rate of return, it would take 7.7 years to double your money.

An aggressive growth portfolio

If you owned all of the stocks, your accounts would be considered aggressive and would have grown an average of 10.3% each year. And according to the rule of 72, the value of your account would have doubled after 7 years.

Asset allocation Return Time to double up
Conservative 6.1% 12 years
Moderately conservative 7.7% 9.4 years
Balanced 8.2% 8.8 years
growth 9.4% 7.7 years
Aggressive growth 10.3% 7 years

Author’s calculations.

Risk tolerances

It may be tempting to pick a return with the lowest number of doubling years, but this can make your goals even more difficult. These predictions of when your money could double are based on consistency and only missing some of the best Stock market Days could cut your returns a lot.

For example, if you had invested in the S&P 500 from January 2, 2000 through December 31, 2020, you would have an average return of 7.5% and your money would have doubled every 9.6 years. But missing the 10 best days in this 20 year period would have dropped your return to 3.35% – and with that return it would take 21 years to double your investments!

It is also possible that your willingness to take risks diminishes as you age. If so, you may find that you have an aggressive portfolio in your early working years, a growth portfolio in your middle years, and a more conservative portfolio in your final years. The time it takes to double your accounts uses an average of these different asset allocation models rather than just one.

Past performance does not guarantee future performance

You would have received these returns over the past 94 years – but over shorter periods of time, the returns you get can vary quite a bit. When you’ve invested $ 10,000 Large-cap stocks on January 2, 2000, you would have had an average return of 1.59% and a final account balance of $ 11,300 over the next seven years. This is mainly because the decade started with 3 negative years of returns due to the bursting of the dot-com bubble. Conversely, if you had started investing in January 2010, you would have narrowly missed the Great Recession and seven years later had an average return of 13.89% and about $ 28,300 – more than double your original investment.

This shows that this rule is not an exact science and is subject to the whims of different market cycles. Therefore Time in the market is so important. The longer your money can stay invested, the better the chances that your investments will double.

Doubling your money may seem impossible or extremely difficult, but it is an attainable goal that you can achieve. And to get there, you don’t have to take any nasty risk or volatility. Just giving your accounts enough time to grow.

Meredith Company’s REAL SIMPLE To Launch Weekly “Cash Confidential” Podcast and “The New Guidelines of Retirement” Digital Occasion Sequence in Conjunction With Constancy Investments®

NEW YORKFeb. 22, 2021 / PRNewswire / – Meredith Corporation (NYSE: MDP) REALLY SIMPLE, the ultimate resource for a modern woman’s busy life, today announced the launch of its weekly Money Confidential. Podcast on March 1st and the virtual series of events “The New Rules of Retirement” on March 25th. Sponsored by Fidelity Investments®, a leader in financial planning and advisory, the offerings are designed to help women of all ages manage the retirement planning process and share actionable information and achievable solutions to their long-term and short-term financial goals.

“2020 has been a difficult year for our readers in every way, including financially, so we’re excited to partner with Fidelity Investments to have honest conversations and practical solutions to personal finance,” he says Liz Vaccariello, REALLY SIMPLE editor-in-chief. “We’re committed to eliminating the financial concerns and burdens of our audiences by creating a safe space to talk about money – and offer solutions that work.”

REAL SIMPLE’s 12-part “Money Confidential” Podcast will be available on all podcast platforms including Apple Podcasts, Spotify, Google Play, Stitcher, and TuneIn. host Stefanie O’Connell Rodriguez, a nationally recognized millennial money expert and author of The Broke and Beautiful, will provide tips and guidance on how to invest beyond a 401 (k), reduce the pressures of student debt, save for the future, and address the stress of money and relationships mix.

Organized by Brandi Broxson, REAL SIMPLE Features Editor, “The New Rules of Retirement” series of events will introduce Fidelity Senior Vice President, Retirement and Cash Management Melissa Ridolfi, Financial Hype Woman and Influencer Berna Anat and other personal finance experts. A second event is planned with the aim of providing women with a game plan and helping them learn the new rules for retirement September 2021.

“Today we see more women than ever struggling to learn about planning their futures and reducing the financial burden so many of us are feeling today,” he said Melissa Ridolfi, Senior Vice President of Fidelity Investments. “How loyalty We’re celebrating Women’s History Month with a special focus on helping women improve their financial wellbeing. We love to speak to REAL SIMPLE to really talk about saving and investing and taking simple steps to make sure your money is harder to hit with your age goals. ”

REAL SIMPLE makes life easier and more meaningful for today’s busy woman, offering inspiring ideas and practical solutions to make her life easier. REAL SIMPLE understands the modern woman and creates a positive, supportive community where women can connect and share their ideas. REAL SIMPLE reaches an audience of nearly 14 million every month through print and digital. consequences REALLY SIMPLE on Facebook, Twitter, Pinterest, and Instagram.

About Fidelity Investments
Fidelity’s mission is to create better future prospects and achieve better results for the customers and companies we serve. With assets under management by $ 9.8 trillionincluding the discretion of $ 3.8 trillion from December 31, 2020We focus on serving the unique needs of a wide variety of customers: helping more than 35 million people invest their own savings, 22,000 companies administering employee benefit programs, and providing investment and technology solutions to more than 13,500 institutions to invest theirs Own customers’ money. Fidelity has been privately owned for more than 70 years and employs more than 47,000 people who are focused on the long-term success of our customers. For more information visit https://www.fidelity.com/about-fidelity/our-company. For more information on Fidelity’s Women Talk Money virtual pop-up event to celebrate Women’s History Month, please visit www.fidelity.com/gamechangers.

SOURCE Meredith Corporation

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Three Easy Methods Investing Can Double Your Cash

What’s the Easiest Way to Double Your Money? The punch line of an old joke tells you to keep your money in front of a mirror. Unfortunately, this method doesn’t even add a little to your wealth or purchasing power. A better strategy is to get your money public, where you can rely on simple concepts to double its real spendable value. Here are three of these concepts to get you started.

1. 401 (k) employer match

Employer match is the easiest and most reliable way to double your money in an investment account. All you have to do is contribute to your 401 (k) and then stay with that employer until you are fully vested. Your employer will fund your account using a set formula when you do this. Some employers match dollar for dollar – which means you’ll double your money at least every other paycheck.

Image source: Getty Images.

Ask your plan administrator for your suitable and Exercise Rules. Then adjust your posts accordingly and plan your career path within that company.

2. Doubling time

The time it takes to double your money in the stock market depends on the average annual growth rate of your portfolio. If you know the growth rate, you can approximate your doubling time by dividing that rate into 72. The answer is your estimated doubling time in years.

Follow this calculation with the money in your savings account and you will quickly see the benefits of investing in the stock market. A good interest rate on cash today is around 0.50%. At this growth rate, your cash balance will double in 144 years. Compare this to money invested in money invested S&P 500 Index fund that you can reasonably expect to grow around 7% per year. Now you’ll double your money in less than 11 years – a far more useful schedule.

Note that the doubling time comes from the future growth rate of the investment, which is being guessed on your part. The guess is reasonable based on historical market averages. However, your doubling time estimates are far less reliable when you assume an investment is growing 10% or 15% annually. This is because positions that outperform the market are usually less consistent. For example, you might see 15% growth one year and 4% the next year. It’s not a single year of growth that matters; It’s the average over time.

3. volatility

Stock market volatility is scary, especially for beginners. But it also creates opportunity for those who have the strength to buy when everyone else is selling. Here is an example. On March 23, 2020, the S&P 500 hit a low below 2,300. You could have bought the same day The S&P 500 ETF from Vanguard (NYSEMKT: FLIGHT) for about $ 210 per share. As of early February 2021, this ETF will trade at over $ 350 per share. It hasn’t quite doubled yet, but has grown 66% in less than a year.

Do not interpret this to mean that you should refinance your home to raise money for the next stock market crash. Buying on a down cycle is not an easy or quick way to make money. You have to deal with two levels of uncertainty. First, you don’t know right now when the market bottomed out. You could buy today and see your investment lose 20% of its value the next day. Second, you don’t know how long it will take to restore. It could be months, like 2020, or years, like the 2009 crash.

To manage this uncertainty, focus on high quality positions that can survive whatever the circumstances that stall the market. Also, only invest money that you haven’t needed in at least five years so that a lengthy recovery doesn’t surprise you.

Double your investment

Why use a mirror to feel like you’ve doubled your money when you could invest and actually double your money? It’s easy enough when you know what to do. Maximize your employer match, invest in index funds, and let time work for you. If you’re in no hurry, increase your investment when the market gets choppy.

Cody Sims: 5 Easy But Sensible Cash Habits For The New Yr And Past

There’s no denying that creating good habits can take some work. It is no different to be more disciplined with your finances. Yet smart money habits can pay off over time and help you grow your bank account and create a more stable financial life. Keep these five tips in mind to improve your financial acumen.

1. Practice the principle of mindfulness. It’s as easy as paying attention to your spending habits and curbing impulsive purchases. When you are deliberate with your money, you will make rational decisions based on what you can afford and what you need. Strategies to help you be more alert include making a monthly budget, making lists before you go to the grocery store, and holding back large purchases until you can really afford them.

2. Keep an eye on your financial transactions. Be vigilant in any financial transaction, no matter how small. Although cashiers use computerized registers, they can still make mistakes when entering items or making changes. Whether you are in the grocery store or the department store, watch items being called to make sure you are being charged a reasonable fee. Check your receipts. Count your change. In the case of bank mistakes, what you don’t know can affect your bottom line. Check your online bank statements daily to monitor fees and be on the lookout for fraud that is growing.

3. Show respect for the currency. When you abuse money, you decrease its value and give yourself permission to abuse it. Don’t puff up your bills or let change pile up in the bottom of your purse. Instead, keep it safe and keep track of your data.

4th Play your cards right. In the past, a major credit card was essential for online purchases and travel reservations such as plane tickets, hotel rooms and rental cars. In today’s economy, it is possible to manage many, if not all, of these transactions with a debit card. Credit cards can offer benefits through their rewards programs, and disciplined use can help build creditworthiness. However, many cards come with an annual fee and high interest rates when you have funds with you. To limit spending on credit cards, keep your credit card at home with only your debit card in your wallet.

5. Look inward and remove barriers to financial freedom. If you have had difficulty making smart financial decisions in the past, you may be subconsciously sabotaging yourself. Attitudes towards money largely result from a complex mix of upbringing, culture and self-control. To overcome this, focus on the things that you are constantly overspending on. Are you going to eat out? Shopping clothes? To go on vacation? Familiarize yourself with your “weakness” and try to change your spending habits in a certain area.

While any of these five tips can help you build your financial muscles, one of the best things you can do about your financial life is to meet with a financial professional on a regular basis. An experienced financial advisor can provide financial coaching and help you identify specific strategies for saving and investing for your future. Find a qualified professional you can trust to discuss all aspects of your financial life. Meet annually or as often as you like to discuss your financial goals and adjust your spending and saving habits to keep on track.

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James “Cody” Sims, CRPC, AAMS, AWMA is a financial advisor and franchisee with Ameriprise Financial Services, LLC of Chattanooga, TN. He specializes in fee-based financial planning and asset management strategies and has been in the business for 25 years. To contact him, send an email to james.e.sims@ampf.com or call (423) 648-2900

Ameriprise Financial Services, LLC. Member, FINRA and SIPC.