Teaching your children how to be financially independent will help smooth the transition into adulthood. It will also give them what they need to stay financially stable throughout life.
Here are some tips for raising kids to be financially independent adults.
The tail end of summer brings with it some fantastic finds, but some marked-up products, too. Here's what to buy and what to skip in August.
The final dog days of summer bring a flurry of marked-down products and end-of-season sales, but there are some items that are best purchased during another time of year. Stay ahead of the retail game by using this guide to learn what to buy and what to skip in August.
Another round of stimulus checks are already on their way. That's great news for many. Unfortunately, the bad news is that another round of stimulus check scams are underway, too. Protect yourself by learning all about these scams.How the scam plays out
Stimulus check scams can be ordinary phishing scams, which is when a criminal asks a victim to provide personal information. They then go on to empty the victim's account.
In another variety of the scam, a victim receives an email instructing them to download an embedded link to get their check.
In yet another stimulus check scam, a criminal will impersonate an IRS official demanding a processing fee for the check.
Technology has made it way too easy for scammers. But, if you know what to look for, you can beat them at their game and stop a scam before it gets past step one.
Another phone call, another scam.
It can sometimes feel like scammers have some kind of competition going to see who can hit you with the most robocalls in a day. In fact, according to Truecaller, scams and robocalls account for 67% of all phone calls in the U.S. Each American will receive an average of 28 of these calls a month. More than just an annoyance, scam calls cost 56 million Americans a financial loss in 2020.
One of the most common scams pulled off over the phone is the auto warranty scam. Here's all you need to know about this scam and how to protect yourself from falling victim:
How the scam plays out
In this ruse, scammers posing as representatives of a car dealer or manufacturer will call to tell you that your auto warranty is about to expire. The scammer will then segue into a pitch for renewing your warranty. During the call, you may be prompted to press a number to stay on the line, and then are asked to provide personal information to continue the process of renewing your warranty. If you follow instructions, you will be playing right into a scam.
How to spot a scam
It is possible for legitimate auto warranty companies to call you about purchasing or renewing a warranty. Look out for these red flags to help you pick out the authentic calls from the scams:
Follow these tips to keep yourself safe from auto warranty scams and similar ruses:
Alert the authorities
If you are targeted by a suspected scammer, you can alert the Federal Communications Commission (FCC) at the FCC Complaint Center. These calls likely violate telemarketing and robocall regulations, and by alerting the FCC, you can help them identify the scammers.
If the call you received involved fraud, you can also file a complaint with the Federal Trade Commission at ftc.gov.
Robocalls are incredibly annoying, but getting scammed is more than just an irritating experience. Follow our tips to protect yourself from auto warranty scams and similar ruses.
You probably already know how important your credit score is to lenders. When you apply for credit, your credit score helps lenders determine whether or not you are able to repay the loan based on your past financial performance. With a higher score, you qualify for better interest rates, lower payments, higher credit limits, and more types of credit than you would with a lower score.
Did you also know that your credit score can make it easier to rent an apartment, qualify for a good cell phone plan, and pay less for insurance? A higher score can save you hundreds, if not thousands, of dollars every year, which can add up to significant savings.
Not only can it hurt you financially, but many employers now check a potential employee's credit as part of the hiring decision. A low credit score could cost you a chance at your dream job.
There are no tricks or quick fixes to getting a good score. However, you can raise your score over time by demonstrating that you consistently manage your credit responsibly. Here are 10 things you can do to improve your credit score: