Podcasts about annualcreditreport

If talking about credit makes you anxious, confused, or just flat-out annoyed… you're not alone. In this episode, we break down the truth about credit scores and reports: what they are, how they work, the most common myths people believe, and why it's time we stop treating credit like a moral compass.Whether you're building credit for the first time, trying to bounce back from a rough patch, or just wondering why your score dipped after doing the “right” thing - we got you.We cover:The biggest myths about credit (including the one a lot of folks still repeat)Why your score is not a moral report cardHow to check your credit and why you must The rise of shady credit repair schemesSmart ways to build or rebuild without getting scammedCredit reports, analogies, and a little tough loveLinks: Episode 211 - Everything you were never taught about bankruptcy (or watch it HERE)Check your credit report for free at AnnualCreditReport.comNational Foundation for Credit Counseling (NFCC)Operation HOPE – Financial counseling and education Connect with Julien and Kiersten on our website, Instagram, Twitter, and YouTube.Join our email list to get updates from us, opportunities for discounts, freebies and a quick rundown on the relevant financial and career news impacting your life. Get our book Cashing Out: Win the Wealth Game by Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by ForbesIf you would like to learn more about investing, check out our newest class, Making Money Grow

Why This Episode Is a Must-Listen Credit doesn't just open doors. It can make or break your financial future. In “Unlocking the Power of Credit for Financial Success,” Andy Wang and a panel of experts demystify the secrets of credit scores, break down new innovations in fintech, and reveal actionable tactics for building—and protecting—your financial reputation. Whether you're just starting out, rebuilding after a setback, or looking to leverage credit for new opportunities, this episode has the clarity, insight, and real-world strategies that LinkedIn professionals need right now.  I want to thank our sponsor Seeking Alpha Premium, the investment research platform that helps you make smarter decisions with institutional-grade analysis and proven stock ratings. Get $30 off your first year plus a 7-day free trial at www.inspiredmoney.fm/alpha. Meet the Expert Panelists Howard S. Dvorkin, CPA, is a nationally recognized debt and credit expert, two-time author, and Chairman of Debt.com, where he has dedicated his career to helping Americans achieve financial freedom. A pioneer in financial education and consumer advocacy, he has shaped state and federal legislation, led national credit counseling associations, and appeared as a trusted voice in major media outlets including The New York Times, CNN, and Fox News. https://www.howarddvorkin.com Anthony Davenport is the founder and CEO of Regal Credit Management, a leading firm that helps professional athletes, entertainers, and high-net-worth individuals build, restore, and protect their credit. A best-selling author of Your Score and a certified FICO® credit expert, he is a sought-after speaker and media commentator featured in outlets such as Forbes, USA Today, and Oprah Magazine. https://anthonymdavenport.com Cullen Canazares is the Co-Founder & CEO of Rental Kharma, the pioneers in the rent reporting industry for over 12 years, having helped more than 125,000 families build credit by reporting rent payments to major credit bureaus. A Stanford Graduate School of Business alumnus and serial entrepreneur, he has dedicated his career to advancing financial inclusion and empowering renters to raise their credit scores, achieve homeownership, and access better financial opportunities. https://www.rentalkharma.com https://www.rentalkharma.com Reyna Gobel, MBA, MPH, is an award-winning freelance journalist and keynote speaker whose work on personal finance, nutrition, travel, and wellness has appeared in The Atlantic, Scientific American, Money, Reuters, AARP, and U.S. News & World Report. She is also the author of seven books—including Graduation Debt, a Washington Post Book of the Month—and has educated audiences at hundreds of colleges, alumni associations, and organizations nationwide. Her nutrition course is available at www.bestnutritionclassever.com and you can find her content at www.walletsandwaistlines.com. https://reynagobel.com Key Highlights: 1. The Real Credit Score Formula—Demystified Howard Dvorkin breaks down the evolution of credit scoring from subjective loan office assessments to the current data-driven FICO model. He emphasizes, “If you take credit out, pay it off. If you can't pay it off immediately... try to keep the utilization under 10%.” Focusing on payment history and credit utilization gives you control over the score that controls so many major financial moments. 2. Insider Secrets to Credit Optimization Anthony Davenport reveals how timing and reporting dates can cause credit scores to fluctuate—even if you pay off your cards monthly. He recommends, “Find out the reporting dates for each of your credit cards and set up your auto payment to pay it off a few days in advance before that date. That way, your credit score is going to stay optimal every month, in and out.”  3. Building Credit Without Going into Debt Cullen Canazares shares how rent (and now, utility) payments can count toward your credit score, thanks to new fintech solutions and imminent industry upgrades. For those without credit cards or thin files, this is a groundbreaking way to build creditworthiness—without taking on new debt.  4. Develop a Mindset for Long-Term Credit Health Reyna Gobel underscores the importance of confidence, knowledge, and bite-sized action. “A lot of people don't know the nutrients they're eating either,” she says, connecting personal finance to health. Starting with small, manageable steps, like pulling your credit report or disputing an error, can yield big results. Call-to-Action Here's my challenge to you this week: Pull your credit report. It's free at AnnualCreditReport.com, and reviewing it is the first step in taking control. Look for errors, understand what's driving your score, and make one small improvement... whether that's paying down a balance, setting up autopay, or reporting your rent. As we heard from our guests, small actions can have a huge impact over time. Find the Inspired Money channel on YouTube or listen to Inspired Money in your favorite podcast player. Andy Wang, Host/Producer of Inspired Money

Your credit score may not seem like a daily concern, but as a dentist, managing debt is an unavoidable reality. Whether it's student loans, a practice acquisition, or buying a home, your credit score can be the deciding factor in securing favorable loan terms. In this episode, we break down the essentials of credit scores, how they impact your financial future, and key strategies to improve and maintain a strong score. Learn why debt, when used correctly, can be a powerful tool for financial growth and how to leverage it wisely.Key Points Covered:✅ Why credit scores matter for dentists and practice owners✅ The role of debt in wealth accumulation and financial leverage✅ Common misconceptions about credit and debt management✅ The five key factors that determine your credit score✅ How to strategically use debt to build wealth and avoid financial pitfalls✅ Why leveraging assets like a dental practice can create long-term financial success✅ Practical steps to improve your credit score and increase lending opportunitiesResources & Links:

What do Bigfoot and credit reports have in common? They're each the subject of many myths.We don't know much about 8-foot furry creatures, but we can dispel some of the folklore about credit and credit reports. Neile Simon is here to help us do that today.Neile Simon is a Certified Credit Counselor with Christian Credit Counselors (CCC), an underwriter of Faith & Finance.If you've ever wondered whether closing a credit card boosts your score or if credit counseling hurts your credit, you're not alone. Let's dive into these common misconceptions and separate fact from fiction.Myth #1: Paying Off Debt Instantly Improves Your Credit ScoreIt's a common belief that paying down debt will immediately result in a perfect credit score. However, credit improvement takes time because credit scores are based on your payment history.Reality: Your credit report gives lenders a snapshot of how responsibly you've managed debt over time. Consistently paying bills on time is the best way to build and maintain a strong score—but it won't happen overnight.Tip: Be cautious of anyone claiming they can “fix” your credit instantly. No legitimate company can erase negative (but accurate) information from your credit history overnight.Myth #2: Credit Counseling Destroys Your Credit ScoreMany people worry that seeking credit counseling will harm their credit score.Reality: Enrolling in a credit counseling program is a neutral mark on your credit report and does not directly affect your score. Closing accounts impacts your score, so working with an accredited nonprofit organization is essential to develop a plan that keeps your credit intact. That's why Christian Credit Counselors is the only organization we recommend for credit counseling and debt management. Tip: Avoid paying for expensive credit monitoring or identity protection services. You can monitor your credit for free through reputable sources.Myth #3: Canceling Credit Cards Boosts Your ScoreMany people believe that closing old or unused credit cards is a responsible move, but it can actually hurt their credit scores.Reality: Lenders want to see two or three active credit lines. Closing credit cards reduces your available credit, which can negatively impact your score by increasing your credit utilization ratio (the percentage of available credit you're using).Tip: Keep zero-balance accounts open unless they charge an annual fee. If you must close an account, do so gradually—perhaps one every six months—to minimize the temporary impact on your score.Myth #4: Too Many Inquiries Hurt Your ScoreWhile excessive hard inquiries (when lenders check your credit for a loan or credit card application) can lower your score, not all inquiries count against you.Reality: Credit bureaus recognize rate shopping—for example, when you're comparing mortgage or auto loan rates. If you make multiple inquiries within a 45-day window, they count as one single inquiry, not multiple.Tip: Always shop around for the best loan terms without worrying about multiple hits to your credit score.Myth #5: Checking Your Own Credit Report Hurts Your ScoreMany consumers avoid checking their credit reports because they fear it will negatively impact their scores.Reality: Checking your own credit is a "soft inquiry" and does not affect your score. Only "hard inquiries" (such as applying for a loan or credit card) can impact your score.Tip: Review your credit report every 6–12 months to catch errors or fraud early. Get a free report from AnnualCreditReport.com, the only official site for free credit reports.Myth #6: Credit Scores Are Locked In for Six MonthsSome believe their credit score is only updated periodically, leading to confusion when making financial decisions.Reality: Your credit score is dynamic, meaning it updates as new information is reported—not every six months. Changes in balances, payments, and account activity can impact your score as soon as they are reported by creditors.Tip: If you're working on improving your score, be patient and consistent—your efforts will show over time.Myth #7: If I Pay My Bills on Time, I Don't Need to Check My Credit ReportIt seems logical that paying your bills on time means your credit report is in good shape. But that's not always the case.Reality: 80% of credit reports contain errors. Mistakes like incorrect account information or fraudulent activity can damage your score even if you've never missed a payment.Tip: Check your credit report at least once a year to identify errors and dispute inaccuracies before they hurt your financial standing.Myth #8: All Credit Reports Are the SameMany people assume that if they check one credit report, they've seen them all.Reality: There are three major credit bureaus—Equifax, Experian, and TransUnion—and they all calculate scores differently. Some lenders may pull from only one bureau, while others check all three.Tip: Review reports from all three bureaus to get a complete picture of your credit history and spot discrepancies.Myth #9: A Divorce Decree Automatically Removes You from Joint AccountsDivorce proceedings often divide assets and debts, but that does not automatically separate joint accounts.Reality: If you and your former spouse share a loan or credit account, both of you remain responsible for the debt—even if a court assigns the balance to one person.Tip: To protect yourself, close joint accounts or refinance loans to remove your ex-spouse's name. Simply relying on a court order won't protect your credit.Myth #10: Bad Marks Automatically Disappear After Seven YearsMany assume that negative information automatically falls off their report after seven years, but it's more complicated than that.Reality: Some items, like Chapter 7 bankruptcies, remain on your report for 10 years, while Chapter 13 bankruptcies stay for seven years. Paid-off accounts in good standing can remain for 10 years, which benefits your credit history.Tip: If you have negative marks on your report, focus on building positive credit habits to minimize their impact over time.Myth #11: I Can Pay Someone to “Fix” My CreditCredit repair companies often promise quick fixes, but many of their claims are misleading.Reality: No company can legally remove accurate negative information from your credit report. If a debt is legitimately yours, it will stay on your report until its expiration date.Tip: You can dispute errors yourself for free. Christian Credit Counselors provides free resources and sample dispute letters to help you correct inaccuracies.The Truth About Credit ReportsUnderstanding your credit report and score is essential for financial success. By debunking these myths, you can take control of your credit and make informed financial decisions.Check your credit report regularly for errorsKeep credit card accounts open to maintain a strong scoreShop around for loans without worrying about multiple inquiriesWork with trusted advisors, not credit repair scamsIf you're struggling with credit card debt, Christian Credit Counselors can help. They've helped thousands of people get out of debt 80% faster while honoring their financial obligations.Visit ChristianCreditCounselors.org or call 800-557-1985 to learn more.On Today's Program, Rob Answers Listener Questions:I have a $50,000 home equity line of credit with $40,000 currently owed. I'm in school for one more year and have had to draw $1,000-$2,000 from the line every couple of months to cover expenses. My interest rate is 2.6%. I was wondering if I could use the equity in my home to pay off this debt and get some extra cash to help me through the rest of school.Resources Mentioned:Faithful Steward: FaithFi's New Quarterly MagazineChristian Credit CounselorsAnnualCreditReport.comWisdom Over Wealth: 12 Lessons from Ecclesiastes on Money (Pre-Order)Look At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

What steps should you take if you suspect your identity has been stolen?We are joined by guest Victor Russell, Operations Manager at Apprisen, to explore the pervasive issue of financial scams and how individuals can protect themselves. The discussion covers various scams, primarily targeting seniors, such as the "grandparent scam" where victims are manipulated into sending money continuously until they realize they have been deceived. Another prevalent scam involves romance, where lonely individuals are exploited into giving money, leading to severe financial repercussions like unmanageable debts.Russell underscores the importance of regularly obtaining a credit report to defend against identity theft, given the frequency of database breaches. He recommends using AnnualCreditReport.com to obtain detailed reports from the three major agencies.To add another layer of protection, Russell recommends freezing credit reports, which can prevent unauthorized loans but must be unfrozen before applying for new personal loans.Victor advises against responding to unsolicited digital communications, especially those with suspicious links, as they are often scams. Government agencies like the IRS and the Social Security Administration do not request sensitive information via email or phone.He also stresses the importance of younger individuals being cautious about their online presence, sharing an example involving his daughters and potentially compromising online content. Support this Podcast For those who fall victim to identity theft, Russell outlines a process: contact financial institutions and credit card companies notify the Social Security office file a police report. ftc.gov and the AARP Fraud Watch Line assist identity theft victimsSocial Security Administration and the Consumer Financial Protection Bureau also offer support.Apprisen, the organization Russell represents, is a non-profit agency providing a range of financial services for over 70 years, including debt management, credit health education, housing counseling, and assistance with student loan management. Most services are free, though some may have fees based on income eligibility.Apprisen's free & secure financial analysis: https://iris.apprisen.com/Key Moments00:00 Negotiating terms, managing expenses, and providing credit education.04:26 Lower interest rates boost homebuying and counseling.08:04 Rise in grandparent scam targeting seniors via phone.10:42 Rising scams target financially stable, vulnerable individuals.13:17 Check credit reports for identity theft detection.19:29 Verify contacts and email sources for security.22:53 Fraud incident led to insurance and identity loss.25:51 Be cautious responding to unsolicited digital surveys.28:28 Be cautious with text communication; it's public.31:46 File police report, and notify financial institutions immediately.37:08 Protect and monitor investments against potential threats.40:02 Unfreeze credit report for loan approval issues.41:24 Keep Medicare card secure to prevent theft.47:19 Listener resources included in show notes.49:12 Regularly check and reconcile financial statements.We would love to hear from you.Give us your feedback, or suggest a topic, by leaving us a voice message.Email us at hello@lookingforwardourway.com.Find us on

With financial fraud on the rise, protecting your personal and banking information has never been more important. A recent JD Power study found that nearly 29% of bank account holders experienced fraud in some form over a 12-month period.To help us navigate the best security practices, Aaron Caid shares expert advice on how to safeguard your accounts from cybercriminals.Aaron Caid is the Chief Marketing Officer at Christian Community Credit Union, an underwriter of Faith & Finance. 1. Strengthen Your Password SecurityA strong, unique password is your first line of defense against fraud. Here's how to create one that's tough to crack:Use a mix of uppercase and lowercase letters, numbers, and special characters.Avoid using common words or easily guessed phrases (e.g., "password123" or your birthdate).Consider using a password manager to generate and securely store complex passwords.In addition to a strong password, enable two-factor authentication (2FA) for your financial apps. This extra layer of security requires a one-time passcode (usually sent via text or an authentication app) to verify your identity when logging in or completing transactions.Pro Tip: Turn off text message previews on your phone. If a scammer steals your phone, they could see your passcode on your lock screen and gain access to your accounts.2. Monitor Your Accounts & Stay Alert for FraudVigilance is key when it comes to detecting fraudulent activity early.Regularly check your bank accounts for unauthorized transactions.Review your credit reports through the three major bureaus—Equifax, Experian, and TransUnion—by visiting AnnualCreditReport.com.Sign up for transaction alerts from your bank or credit union to get notified of suspicious activity.Fraudsters also use phishing scams—fake emails, texts, or calls—to trick people into giving away personal information. These scams often create a sense of urgency to pressure you into acting quickly.Never share your:Username or passwordOne-time passcodesAccount or personal information over the phone, email, chat, or textHackers can spoof phone numbers and email addresses to make messages appear legitimate, even impersonating banks and credit unions. If you're ever unsure, call your financial institution directly to verify any suspicious messages.3. Use Secure Wi-Fi & Protect Your Personal InformationWe all love a good coffee shop work session, but public Wi-Fi networks are a big security risk when accessing sensitive financial accounts. Hackers can intercept your data and steal your login credentials.Always use a secure, password-protected Wi-Fi network when banking online.Use a Virtual Private Network (VPN) for added encryption and security.Also, ensure you don't let identity thieves find your personal information in the trash!Shred documents containing sensitive details like account numbers, social security numbers, or other financial information. Shredders cost as little as $35—a small price to pay for big security.Stay Secure & Bank with PurposeAs fraud prevention becomes increasingly important, many Christians are seeking banking solutions that align with their values. Christian Community Credit Union (CCCU) offers a Harvest Bundle—a unique checking and savings account designed to help members grow their savings while supporting missions worldwide.4% APY on the first $5,000 in Harvest Checking5% APY on the first $5,000 in Harvest Savings1.5% cash back on purchases with the Cash Rewards Visa CardA portion of proceeds supports missions, including gospel outreach, protecting vulnerable children, and fighting human trafficking. For those looking to align their banking with their faith, the Harvest Bundle from CCCU offers competitive rates and kingdom impact—a win-win for wise financial stewardship.If you're looking for a banking partner that reflects your faith and values, consider joining Christian Community Credit Union (CCCU).Ready to bank with purpose? Visit JoinChristianCommunity.com today!On Today's Program, Rob Answers Listener Questions:Can you provide a list of the faith-based investments that I can invest in? I'm trying to invest differently with my 401(k) funds.  I have an old work comp claim that was incorrectly billed, causing Medicare to deny payment. What happened, and how can I prevent this in the future? Also, if I submit a claim to the work comp company and they only pay a portion, am I responsible for the remaining balance? I own a free-and-clear home in Davenport. There is no mortgage anymore, and I would like to transfer 50% of ownership to a family member. Would I have to pay any taxes, or would my family members have to pay them because of this transfer? I'm retired, receiving $70,000 annually from disability and SSDI. I have $50,000 in a TSP account and $9,000 in debt that I'm paying off. I'm currently renting for $1,500 per month. Should I use my VA loan to purchase a home or just continue renting? I have a Roth IRA that I formed from a 403(b) annuity a couple of years ago. I'm 73 and will be 74 in a couple of months. At what point does the RMD apply to my Roth? Also, I'm retired and have Social Security and a retirement pension. I occasionally make profits from a book I publish and workshops I do. Can I make contributions to my Roth from those profits?Resources Mentioned:Faithful Steward: FaithFi's New Quarterly MagazineList of Faith-Based Investing FundsCenters for Medicare & Medicaid Services (CMS.gov)AnnualCreditReport.comLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

Hosts: Rob Chappell and Stephanie Díaz De León Guests: Suzanne Johnson, Park Bank First Vice President of Branch Banking, and Jeff Mack, Park Bank First Vice President of Business Development In this insightful episode of the Money Mindset Podcast, Rob and Stephanie are joined by Suzanne Johnson and Jeff Mack from Park Bank to discuss the fundamentals of credit. From understanding credit scores to practical steps for credit building and repair, this episode is packed with valuable information for anyone looking to improve their financial health. The discussion starts with personal experiences and misconceptions about credit and then delves into more complex topics like credit utilization, payment history, and the impact of credit inquiries. Plus, the guests describe all the other factors, beyond the credit score, that go into lending decisions. The hosts also provide actionable strategies for debt management and tips on how to establish a strong credit history. They share personal stories, insights, and practical advice on topics such as: Personal Credit Journeys: The hosts and guests share their first experiences with credit and the lessons learned. Understanding Credit Scores: Explanation of what goes into a credit score, including payment history, credit utilization, and length of credit history. Credit Building Strategies: Practical advice on how to build and maintain a good credit score, from opening credit cards responsibly to managing debt effectively. Credit Repair Tips: Steps you can take to recover from poor credit, including tackling delinquent accounts and managing credit utilization. The Importance of Credit Education: The value of understanding your credit and the role of financial institutions in providing credit counseling and resources. Economic Factors and Credit Access: Discussion on how economic conditions can impact credit availability and personal financial health. And in the “Math Isn't Mathing” segment: cutting cable in favor of streaming services was supposed to save us money. Is it? Additional Resources: For more information on credit building and debt management, visit Park Bank's Credit Sense. Check your credit report for free at AnnualCreditReport.com. This Money Mindset Podcast is brought to you by Park Bank, your local community bank focused on helping you achieve your financial goals. Visit parkbank.com to learn more about their services and financial resources.

If you think there's only one way to pay for healthcare, maybe it's time to think outside the box of health insurance.Of course, health insurance is a great thing to have, but is it necessarily the best way to pay for healthcare costs? Lauren Gajdek joins us today to discuss medical cost sharing and how it might be a better option.Lauren Gajdek is the Vice President of Communications and Media at Christian Healthcare Ministries, an underwriter of Faith & Finance. What Are People Looking for in Healthcare?Many people are searching for options beyond traditional health insurance. CHM members often seek three key elements:Freedom to Choose Providers: Members value the ability to select their healthcare providers, especially those they trust, without being restricted by a network.Faith-Aligned Solutions: They want a healthcare solution that aligns with their Christian beliefs, which can be hard to find in conventional insurance plans.Lower Costs: Cost is a major factor, and many people are looking for more affordable ways to manage their medical expenses.CHM meets these needs by offering a healthcare solution that allows members to choose their providers and emphasizes a biblical approach to sharing medical expenses.Flexibility in Choosing ProvidersOne significant difference with CHM is that it does not restrict members to a specific network of providers. This freedom is especially valuable in emergencies or when traveling, allowing members to access care without worrying about whether a provider is “in-network.” While they can assist members in finding cost-effective providers for planned procedures, the final choice remains with the member, offering a level of autonomy that traditional insurance often lacks.How Does Medical Cost Sharing Work?Medical cost sharing through CHM allows members greater control over their healthcare decisions. Unlike traditional insurance, no pre-approvals are required. If a medical expense falls within their guidelines, it becomes eligible for sharing among the membership. This means that decisions about care are made by the doctor and the patient without the bureaucracy typically associated with insurance.Why Is CHM More Affordable?CHM is often more cost effective than traditional health insurance due to its unique structure:Self-Pay Discounts: Members can request self-pay discounts, significantly reducing medical costs. Because it operates as a nonprofit ministry rather than an insurance company, these discounts are a vital part of its strategy to lower costs.Strong Provider Relationships: With over 40 years of experience, CHM has built relationships with healthcare providers, allowing them to negotiate better rates for services behind the scenes.The Importance of a Faith-Based ApproachCHM's foundation as a Christian ministry is central to its identity. The organization's mission is rooted in biblical principles, emphasizing the importance of sharing each other's medical burdens. This focus on community and mutual support makes them unique in healthcare solutions. It is a reminder that ministry comes first.CHM offers a flexible, faith-based alternative for managing healthcare costs, making it appealing to many believers. To learn more about how medical cost-sharing works or explore their services, visit chministries.org/faith.On Today's Program, Rob Answers Listener Questions:I have a two-flat apartment building that's worth $700,000. We were offered to sell it, and we're looking at another apartment building in another area for $625,000. I wanted to know what it would cost me to sell mine for $700,000 and buy the other for $625,000. I've never sold a building, so I am still determining what to expect.My son struggles to pay the bills for his business, and he's taken out several payday loans to make ends meet. He needs to connect with someone who can give him business financial guidance or possibly look into debt consolidation. Do you have any suggestions?I'm selling a home and would like to know where to start with everything. I know I need an emergency fund and want to help the children. I also want to put money into another home I'm going into. I don't know where to start with all of this, as it's all new for me since my husband passed away.I've been told there's a way to get a free credit report. I understand the government requires it, but I'm uncomfortable using the internet. Please tell me how I can get my free credit report.Resources Mentioned:Christian Healthcare Ministries (CHM)Wise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More by Miriam Neff and Valerie Neff Hogan, JD.AnnualCreditReport.comLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

You've heard the identity theft protection ads for years, but do you really need it?Today, dozens of companies sell identity theft protection, so people obviously buy it. But what exactly are they getting, and is it really worth it?Understanding Identity Theft Protection: Is It Worth It?Identity theft is a growing problem that affects millions of people every year, with schemes ranging from credit card fraud to insurance and tax fraud. With this in mind, many companies offer identity theft protection plans. But is it worth it? Let's take a closer look at the features, their value, and whether or not you should invest in one of these plans.Before diving into the specifics, it's important to remember that fear should never dictate our financial decisions. In 2 Timothy 1:7, Paul reminds us:“For God gave us a spirit not of fear but of power and love and self-control.”When considering whether to purchase an identity theft protection plan, look at the facts, pray for guidance, and make an educated decision.Typical Features of Identity Theft Protection PlansIdentity theft protection plans come with a range of features, though not every plan includes all of them. Here's a look at some common offerings:Credit Report and Score Access: Many plans provide access to your credit reports and credit score.Credit Report Monitoring: This feature alerts you to suspicious activity, such as new accounts opened in your name.Fraud Alert Setup: Plans often help you set up fraud alerts on your credit reports, making it harder for thieves to open accounts.Dark Web Monitoring: This monitors for signs that your personal information is being misused on the dark web.Fraudulent Account Dispute Assistance: Some plans assist you in disputing fraudulent charges and accounts.Social Security Number Monitoring: You'll be notified if your Social Security number is used suspiciously.Browser Protection Tools: These tools protect your personal information online and alert you to unsafe websites.Insurance Coverage: Some plans include insurance to cover costs associated with identity theft recovery, such as legal fees and lost wages.These features may sound appealing, but is it worth paying $7.50 to $70 per month for this protection?Can You Do It Yourself?Interestingly, most of these features are things you can handle on your own:Credit Report Access: You can easily access your credit reports from Experian, TransUnion, and Equifax, or visit AnnualCreditReport.com for free reports.Credit Monitoring: Monitoring your credit every six months is simple and effective. You can also set up fraud alerts directly with the credit bureaus.Disputing Fraudulent Activity: You can dispute fraudulent charges on the credit bureau websites yourself—no third-party service is required.Browser Protection: Browsers like Chrome, Safari, and Microsoft Edge already offer safe browsing tools; you just need to enable them.There are a couple of features that are harder to manage on your own:Dark Web Monitoring: This is more challenging to do without specialized tools.Social Security Number Monitoring: While not easy to do on your own, this becomes less critical if you're already monitoring your credit and disputing fraudulent activity.What About the Insurance?Many identity theft protection plans offer insurance to cover financial losses. However, disputing fraudulent activity directly with the credit bureaus is usually sufficient to avoid significant out-of-pocket costs. While it might take some time, handling it yourself is typically manageable.Here's an important distinction: These plans offer identity theft protection, not identity theft prevention. They help you fix the problem after it occurs but do little to stop it in the first place.The most powerful thing you can do to prevent identity theft is to freeze your credit at all three credit bureaus. It's free and prevents lenders from checking your credit unless you unfreeze it temporarily when applying for new credit. This simple step can prevent thieves from opening accounts in your name.Should You Buy Identity Theft Protection?Ultimately, purchasing an identity theft protection plan comes down to personal preference. If having one brings you peace of mind and helps you sleep better at night, go ahead and purchase a plan—but do your homework first. And if a free plan is offered after a data breach, don't hesitate to accept it.By staying informed and taking simple steps on your own, you can safeguard your identity without fear.On Today's Program, Rob Answers Listener Questions:There are so many charities and organizations to donate to, and I'd like to find websites that can help me decide how to allocate my charitable giving. I want to make sure the organizations are using the funds responsibly. What resources can you recommend for researching and evaluating different charities?I have a question about an inherited IRA. My husband inherited two IRAs from his mom, who died in 2020. We have yet to take any distributions. I know the SECURE Act requires withdrawing the total amount within ten years. Is there an advantage to withdrawing it gradually, or is it better to just do a lump sum withdrawal at some point?My mother purchased some land a couple of years ago, with three small houses on about 3 acres. I filed a transfer-on-death (TOD) deed that I printed off the internet, and it went through. Is that a good thing to do? How does that affect my taxes when I inherit the property?I have several accounts that will require me to take required minimum distributions (RMDs) at the end of the year. How do I set it up so the RMD can be paid directly to my church as a qualified charitable contribution to avoid increasing my taxable income?Resources Mentioned:ECFA | Charity NavigatorNational Christian Foundation (NCF)Look At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

Are you worried about a recession? Some economists say there's still a 35% chance it could happen in 2024.People often ask, “Will we have a recession?” The answer, of course, is “Yes.” We'll always have another recession—the real questions are, “When?” and “Are you prepared for it?” If you're not, now's the time to get started.With the economy showing signs of slowing down, preparing yourself financially for a potential recession is essential. Here are seven practical steps to “recession-proof” your finances and help you navigate uncertain times:1. Check Your Credit Score and ReportsThe first step is to assess where you stand financially by checking your credit score and obtaining your credit reports. You can access free credit reports from Experian, TransUnion, and Equifax at AnnualCreditReport.com. This gives you a baseline to track any changes and helps you negotiate with creditors if needed, especially if you face temporary financial hardship.Having a history of on-time payments can work in your favor if you need to negotiate better terms in the future.2. Use the Mayday BudgetIn times of financial stress, focus on the essentials. The Mayday budget consists of four key categories:Food: Prioritize simple, affordable meals and avoid dining out.Housing: Make your mortgage or rent payment.Utilities: Ensure essential services like electricity and water are covered.Transportation: Keep your car running or pay for essential transportation.Once these are covered, any remaining funds can be allocated to other bills.3. Seek Additional ResourcesIf your unemployment benefits or savings run out, there are other resources available. Non-profit organizations and local government agencies often offer assistance programs. You can call 2-1-1 or visit 2-1-1.org to find services in your area.4. Communicate with CreditorsBe proactive with your creditors. Create a list of all your creditors and their contact information, and be prepared to call them if your financial situation worsens. Explain your situation in detail, providing pay stubs to show your reduced income, and ask if you can make partial payments or temporarily stop payments.Keep a record of every conversation and ask for any agreements in writing. This can prevent confusion and protect you from scams. Remember, legitimate creditors won't ask for sensitive information over the phone or email.5. Get Professional Help with Credit Card DebtIf you're struggling to keep up with credit card payments, seek help from non-profit organizations like Christian Credit Counselors. They can help lower your interest rates and consolidate multiple payments into one manageable amount. This form of debt management helps pay off debts faster without the risks associated with debt consolidation.6. Save as Much as PossibleBuilding up your emergency fund is critical during a recession. Aim to have 3 to 6 months of living expenses saved. This cushion can help cover essential costs like food, housing, and utilities during periods of unemployment or reduced income.7. Pray for WisdomFinally, don't forget to pray. God promises in James 1:5 to give wisdom generously to those who ask. Pray for guidance in managing your finances, and trust that God will provide for you during difficult times.By following these steps, you can take meaningful action to protect your finances during a recession. Preparing in advance, maintaining open communication, and seeking God's wisdom will help you navigate whatever financial challenges come your way.On Today's Program, Rob Answers Listener Questions:Does the Bible speak about retirement at all? I've never read anything regarding it in Scripture besides referring to Levites and Priests.I'm reluctant to start shopping again for insurance, auto, and home. My premiums went up 31% this year, and I had just changed to another insurance company last year. I have no claims, and I just wondered if that seemed to be the pattern across the country or maybe for this region. Do you have any thoughts?My husband opted out of Social Security back in the 1980s. He's a pastor who works part-time. Now he's retired, and I wonder if he can get back into Social Security if he gets enough credits.My mom just passed away, and she left the house. She has a mortgage of $125,000 on it, and the loan is a VA loan. I don't know what to do with this property, so any advice would be greatly appreciated.Resources Mentioned:AnnualCreditReport.com211.orgChristian Credit CounselorsLook At The Sparrows: A 21-Day Devotional on Financial Fear and AnxietyRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

In this episode of The Miko Love Podcast, Kumiko dives into the growing threat of data breaches and identity theft, a concern that's becoming all too common as companies face increasing security challenges. She shares practical steps to safeguard your money and assets, including freezing your credit, using two-factor authentication, and staying vigilant for signs of compromise. Kumiko also clarifies the difference between a credit freeze and a credit lock, and stresses the importance of regularly checking your credit report. Tune in to learn how to take proactive measures to protect yourself and minimize the impact of potential data breaches. TAKEAWAYSFreeze your credit with all three major credit bureaus to prevent criminals from accessing your financial accounts and opening new ones in your name.Implement two-factor authentication for all your online accounts to add an extra layer of security.Regularly monitor your credit and be vigilant for any signs of compromise, using tools like Credit Karma for notifications and pulling your credit report.Choose a credit freeze over a credit lock, as freezes offer more legal protections and are free of charge.Contact each of the three major credit bureaus — Equifax, Experian and TransUnion — individually to freeze your credit:Equifax: Call the automated line at 800-349-9960 or customer care at 888-298-0045, or go online.Experian: Go online to initiate, or for information call 888‑397‑3742. TransUnion: Call 800-916-8800 or 888-909-8872, or go online. Request copies of your credit report from the main credit reporting agencies – Equifax, Experian, and TransUnion  – and examine them for any unexplained accounts opened in your name. You are entitled to order a free copy of your credit report from each of the major credit reporting agencies every 12 months through AnnualCreditReport.com.Get free identity monitoring with Credit Karma here! About Kumiko:Kumiko Love is the creator of The Budget Mom, LLC, a national bestselling author of the book "My Money My Way," and an Accredited Financial Counselor.She is a dedicated mom of two boys, a passionate sourdough baker, and the proud owner of Pine Manor Naturals. With over 2 million followers across social media, Kumiko's expertise and approachable style have been featured in major media outlets such as Forbes, The New York Times, and Good Morning America. As the host of The Miko Love Podcast, Kumiko dives into the exploration of her own passions and a range of captivating topics, offering fresh perspectives and engaging discussions about life. She inspires millions to take control of their financial lives while embracing passionate living and life fulfillment. Thank you for being a part of our community! Contact The Miko Love Podcast Follow me on Instagram @mikolovepodcast Email me at kumiko@mikolovepodcast.com Thanks for listening & keep feeding your curiosity!

In this episode of Not Fintech Investment Advice, Alex and Simon spotlight the latest up and comers solving cool problems in fintech. First up is Revenir, which helps travelers and businesses recover sales tax on their purchases, making rebates happen "automagically" through its API. As a prime "found money" use case for AI, what's Revenir's long-term strategy? Could a neo-bank leverage this feature as an exclusive advantage? Then, it's Summer (the product, not the season) which helps grads manage student debt—combining loan repayment and forgiveness into an HR-friendly package. Selling to HR is tough, but is Summer's recent acquisition the key to dominating this space? Or would a DTC approach be more effective? Next, Jeff (the product, not the person) is expanding credit access for the underbanked in the Asia-Pacific with non-traditional data for detailed credit profiles and scores. With its "FICO 2.0" approach, could Jeff set a new standard in credit evaluation? Plus, Axle automates compliance workflows with AI agents, handling tasks like sanction screening and KYC. Axle offers a clear value prop to firms overwhelmed by regulatory processes, but can their specialized AI scale across different fintech sectors? Finally, Alex and Simon try to manifest their fintech dreams: interoperable payment rails and unified AnnualCreditReport.com but not terrible. 00:02:20 - Revenir 00:15:15 - Summer 00:27:42 - Jeff 00:40:53 - Axle 00:58:03 - Manifesting Fintech Ideas  Sign up for Alex's Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/ And for more exclusive insider content, don't forget to check out my YouTube page. Follow Simon: LinkedIn: https://www.linkedin.com/in/sytaylor/ Substack: https://sytaylor.substack.com   Follow Alex:  YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos LinkedIn: https://www.linkedin.com/in/alexhjohnson Twitter: https://www.twitter.com/AlexH_Johnson Companies featured: https://www.revenir.ai/ https://www.meetsummer.com/ https://www.jeff-app.com/ https://www.axleruns.com/

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2654: Amy Beardsley of SmartMoneyMamas.com reveals the importance of a good credit score in building wealth. She provides actionable strategies to improve credit, emphasizing the significance of responsible credit management in achieving financial stability and long-term wealth growth. Read along with the original article(s) here: https://smartmoneymamas.com/good-credit-score/ Quotes to ponder: "Your credit health is one of the most essential pieces of your financial puzzle." "No matter how you got where you are, there's no judgment or shame here, just excellent credit strategies from The Frugal Creditnista, Netiva Heard, to help you get back on top of your financial game." "Small, baby steps to improve your credit are the most effective." Episode references: AnnualCreditReport.com: https://www.annualcreditreport.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2654: Amy Beardsley of SmartMoneyMamas.com reveals the importance of a good credit score in building wealth. She provides actionable strategies to improve credit, emphasizing the significance of responsible credit management in achieving financial stability and long-term wealth growth. Read along with the original article(s) here: https://smartmoneymamas.com/good-credit-score/ Quotes to ponder: "Your credit health is one of the most essential pieces of your financial puzzle." "No matter how you got where you are, there's no judgment or shame here, just excellent credit strategies from The Frugal Creditnista, Netiva Heard, to help you get back on top of your financial game." "Small, baby steps to improve your credit are the most effective." Episode references: AnnualCreditReport.com: https://www.annualcreditreport.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Is it the best of times or the worst of times? Well, it all depends on if you're trying to buy or sell a house.It really is a matter of perspective. Home values remain sky-high and are likely to continue rising in the foreseeable future. How you view that depends on which side of the transaction you're on.Navigating the Current Housing Market: Tips for First-Time Home BuyersIt may be the worst of times if you're a first-time home buyer. Home values have never been higher, thanks to the continued high cost of building materials, inflation, and low inventory. Coupled with mortgage rates of around 7%, buying your first home is undeniably an uphill battle.Moving Up in the MarketIf you're moving up—selling a starter home and buying one that fits your current needs—the situation is slightly different. While your dream house is more expensive, so is the house you're selling, which helps offset high home values. However, higher interest rates have many prospective home sellers sitting on the sidelines, waiting for rates to drop. This results in fewer homes on the market, driving up prices even more.Downsizing: A Silver LiningFor those downsizing, it truly is the best of times. You can sell a larger, more expensive home, pay off any existing mortgage, and be mortgage-free in your new, smaller home. This transition can leave you with a sizable nest egg for future needs.Market Trends and PredictionsThe housing market has always been influenced by these factors, but they are currently exaggerated by inflation and rising prices. Recent data shows a 6.5% increase in home values over the past year. Analysts predict that while home prices will continue to rise, the growth rate will begin to slow.Steps to Take if You're Buying a HomeCheck Your Credit Reports—First, obtain all three credit reports from Experian, TransUnion, and Equifax for free at AnnualCreditReport.com. Review them carefully and dispute any errors to boost your credit score, which will help you secure the lowest possible interest rate on your mortgage. Consult a Mortgage Loan Officer—Meet with a mortgage loan officer for guidance on the loan application and approval process. During the first visit, you don't need to provide your personal financial information, but you should ask about programs for first-time home buyers. Assess Your Borrowing Capacity—Eventually, you'll need to share your financial details with a loan officer to determine your debt-to-income ratio and how much you can borrow. Avoid borrowing the maximum amount the lender offers, as this can strain your budget. Aim to keep your mortgage payments within 25% of your take-home pay. Save for a Down Payment—Assemble the largest down payment you can. Putting down 20% helps you avoid private mortgage insurance, which costs around 1% of the loan amount annually. Reserve a few thousand dollars for unexpected expenses when you move in, avoiding reliance on credit cards. Get Pre-Approved—Shop around for the best interest rate and mortgage provider. Pre-approval strengthens your position as a buyer and helps streamline the home-buying process.A Mortgage with a PurposeConsider working with Movement Mortgage, a Christian mortgage company founded during the 2008 housing crisis. They offer competitive rates and a chance to contribute to a global movement of change. Movement Mortgage has donated $377 million to community projects and has locations in all 50 states. Learn more at Movement.com/Faith.Finding Your New HomeMake a list of essential features for your new home and connect with a knowledgeable real estate agent. Keep your list of “must-haves” short to stay flexible in this strong seller's market.If possible, wait until winter to make an offer. Buyer competition typically decreases during colder months, giving you an edge.That's the current state of the housing market and a few tips to help you navigate it. We hope these insights and strategies assist you in your home-buying journey.On Today's Program, Rob Answers Listener Questions:How do I determine my tithe amount when liquidating a portion of my long-term investment holdings, which include stocks and bonds? Sometimes, the investment shows a slight increase over the principal in a year, but other times, there is a loss. I would like to know how to calculate my tithe since I wouldn't be cashing out the whole investment.Should I move some of my precious metals into my IRA, which I want to diversify into, or should I keep them at home where I can physically possess them? I'm particularly interested in silver since gold is quite expensive.Is making a living off the interest from my IRA investments through a financial advisor considered evil according to passages in the Bible that prohibit putting out money at interest or getting interest from my investments?Would an irrevocable trust be taxable after death, or would it just go back to the will already in place? How do the taxes work with an irrevocable trust if the original owner dies?Resources Mentioned:Movement MortgageAnnualCreditReport.comRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2785: Kumiko from TheBudgetMom.com provides a comprehensive guide for managing debt collection. She offers practical steps to assess your financial situation, prioritize payments, and choose the best approach to settle debts. Her advice empowers readers to take control of their finances and work towards rebuilding their credit. Read along with the original article(s) here: https://www.thebudgetmom.com/has-your-debt-been-sent-to-collections-here-are-your-options/ Quotes to ponder: "You can't build a successful plan to deal with debt collectors until you gather the facts about who you owe money to and how much you owe." "Your best bet is usually to save enough money so that you can try to negotiate a debt settlement on your own." "I know what it's like to feel overwhelmed by debt. Yet even as a single mom with limited income, I was able to take control of my budget and start turning my financial life around." Episode references: Credit Karma: https://www.creditkarma.com/ Experian: https://www.experian.com/ AnnualCreditReport.com: https://www.annualcreditreport.com/index.action Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2785: Kumiko from TheBudgetMom.com provides a comprehensive guide for managing debt collection. She offers practical steps to assess your financial situation, prioritize payments, and choose the best approach to settle debts. Her advice empowers readers to take control of their finances and work towards rebuilding their credit. Read along with the original article(s) here: https://www.thebudgetmom.com/has-your-debt-been-sent-to-collections-here-are-your-options/ Quotes to ponder: "You can't build a successful plan to deal with debt collectors until you gather the facts about who you owe money to and how much you owe." "Your best bet is usually to save enough money so that you can try to negotiate a debt settlement on your own." "I know what it's like to feel overwhelmed by debt. Yet even as a single mom with limited income, I was able to take control of my budget and start turning my financial life around." Episode references: Credit Karma: https://www.creditkarma.com/ Experian: https://www.experian.com/ AnnualCreditReport.com: https://www.annualcreditreport.com/index.action Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2785: Kumiko from TheBudgetMom.com provides a comprehensive guide for managing debt collection. She offers practical steps to assess your financial situation, prioritize payments, and choose the best approach to settle debts. Her advice empowers readers to take control of their finances and work towards rebuilding their credit. Read along with the original article(s) here: https://www.thebudgetmom.com/has-your-debt-been-sent-to-collections-here-are-your-options/ Quotes to ponder: "You can't build a successful plan to deal with debt collectors until you gather the facts about who you owe money to and how much you owe." "Your best bet is usually to save enough money so that you can try to negotiate a debt settlement on your own." "I know what it's like to feel overwhelmed by debt. Yet even as a single mom with limited income, I was able to take control of my budget and start turning my financial life around." Episode references: Credit Karma: https://www.creditkarma.com/ Experian: https://www.experian.com/ AnnualCreditReport.com: https://www.annualcreditreport.com/index.action Learn more about your ad choices. Visit megaphone.fm/adchoices

Rich mentioned two helpful travel sites in his Newsletter: PointsYeah allows you to search across multiple points and rewards programs at once for flights and hotels, and Turbli allows you to check the turbulence forecast for your flight.Rich says the Nothing Ear buds are excellent.Rich talked about portable chargers for your smartphone. The more mAh, the more charges you'll get (10,000 is a good bet); look for USB-C charging in AND out for faster charging. Anker and Belkin are good bets.Keith in Andover, Kansas wants to know which AI to use. Rich likes ChatGPT for general, overall chatbot activities, Gemini for access to real-time information and the web, Claude for excellent language and summarization skills, CoPilot for creativity and Perplexity AI for “book reports” on a topic.Roxton in Ventura is having issues with his Moto 5G.Instagram is testing unskippable ads.Netflix is ending support for second and third-generation Apple TVs on July 31, 2024.Jay from Woodland Hills has a Samsung S10 and wants to put an AirTag equivalent in his car and wants to know which one. You want a tag that works on Android's Find My Device network. Rich says to look at Chipolo and Pebblebee but the shipping times are delayed.Sean in La Costa, CA wants to switch back to an Android after using an iPhone for a bit. Rich recommends iMazing, AltTunes and SMS Backup & Restore.Apple says it will support the iPhone 15 and later models for at least 5 years, but historically, they have done software updates for six years.Rich highly recommends the $500 Pixel 8a if you want a great smartphone with clean software and an excellent camera.Carol in Los Angeles is wondering how she should protect her credit and identity. Rich mentioned WalletHub and AnnualCreditReport.com and consider freezing credit reports. You can also request your Lexis Nexus profile.Drew Binsky, a travel YouTuber who has visited every country in the world, will discuss his new book called Just Go. He mentioned tech tools including Google Maps Offline Mode, Airalo for eSIMs, GetYourGuide and ToursByLocals.Mark in Winnekta is having issues with YouTube saying he's using an ad blocker.Microsoft is listening to consumers and changing the way its upcoming AI feature called Recall works. It will now be opt-in instead of turned on by default, and you have to use Windows Hello to access it.Rich mentioned reading a hard-cover book for the first time in a long time. It's Eruption by Michael Crichton and James Patterson.Adobe says it does not claim ownership over customer work, clarifying new terms of service that upset many users.Apple Watch now pairs directly with the Dexcom G7.Mahboud and Nicky Zabetian, creators of the Kini wireless motion sensor. Use code RADIO for a discount.Ebay will no longer accept American Express as of August 17, 2024.Max is raising prices, and Spotify is too.BBB warns that phishing scams are up and offers ways to spot them. Get full access to Rich on Tech at richontech.tv/subscribe

Americans have an average of four credit cards. Do you really need that many? And how many is enough?Too often, we hang on to credit cards we no longer use…providing an unnecessary invitation to identity thieves to run up charges in our names. Canceling them is a good idea if done correctly.The Risks of Holding Unused Credit CardsMany of us hang on to credit cards we no longer use, but this can invite identity thieves to run up charges in your name. Canceling unused cards is a good idea, but it needs to be done correctly. Let's explore why and how to do it.Why Closing a Credit Card Affects Your Credit ScoreOne common concern is whether closing a credit card will affect your credit score. The short answer is yes, it will drop a little. This drop happens because of the way credit scores are calculated.Algorithms used to calculate your score favor long-standing accounts, available credit, and a mix of account types (like credit cards, auto loans, and mortgages). Closing a credit card affects these factors, hence the drop in your score. However, this drop is usually minor and temporary.When to Be Cautious About Closing a Credit CardIf you're shopping for a mortgage or another major loan, it's essential to maintain the highest credit score possible. A lower score, even by a few points, can result in a higher interest rate, costing you more money over time. In other cases, the drop in your credit score from closing an account is not something to worry about too much.Why Close Unused Credit Cards?There are two main reasons to close unused credit card accounts:Reduce Temptation: An unused credit card can become a temptation during financial stress. Instead, rely on your emergency fund for unexpected expenses.Prevent Identity Theft: Unused accounts are a target for identity thieves. Closing these accounts reduces your risk.How to Properly Close a Credit Card AccountIf you decide to close an unused credit card account, here's how to do it properly:Pay Off the Balance: Ensure there is no remaining balance on the card.Cancel Recurring Charges: Check for any recurring charges and cancel or transfer them.Notify the Issuer: Call your card issuer to cancel the account and follow up with an email or letter for confirmation.Check Your Credit Report: Verify the account is closed by checking your credit reports from Experian, TransUnion, and Equifax. You can access these reports for free at AnnualCreditReport.com.Gradually Closing AccountsAvoid closing several accounts at once. This can multiply the negative impact on your credit score. Instead, close no more than one or two accounts every six months. This gradual approach minimizes the adverse effects while keeping your credit utilization low and maintaining timely payments on other accounts.Following these steps, you can manage your credit cards wisely and protect yourself from potential risks. And remember, a slight dip in your credit score from closing an account is usually not a cause for concern.On Today's Program, Rob Answers Listener Questions:What are the tax implications of selling a rental property I own in Montana? I recently sold the property and want to reinvest the money from the sale into my business and possibly another investment property. What will my tax obligations be for the sale of the property? Is there a way that I can put the money into something like a 1031 exchange to use the funds for reinvestment without being taxed on it as income?I'm paying an extra $115 over my normal monthly payment amount. However, when I check my statements, I notice that my bill is not changing, and the extra $115 I'm paying is not reducing my principal balance. I've called my loan servicer about this, and they tell me that I still have one more payment to make, but that doesn't make sense if I'm paying extra each month.I have some retirement funds that I have from working as a government employee that I have not utilized yet and will need to move. I have two TSP funds sitting there and was looking for recommendations on what to do with the money. I'm also retired, so I wanted to check if my age will impact anything when moving the funds to an IRA. Additionally, I was curious about keeping the money in an IRA for a long time and potentially making a trust the beneficiary instead of just leaving it to my kids directly.Resources Mentioned:The Sound Mind Investing Handbook: A Step-by-Step Guide to Managing Your Money From a Biblical Perspective by Austin Pryor with Mark BillerAnnualCreditReport.comRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

Proverbs 27:12 reads, “The prudent sees danger and hides himself, but the simple go on and suffer for it.”The word “insurance” isn't in the Bible, but it does say that it's wise to protect your financial holdings—and insurance is one way to do that.Understanding Essential Insurance PoliciesInsurance is a fundamental aspect of financial planning. For most of us, unless we have vast wealth diversified across numerous investments, insurance serves as a critical safety net. So, what insurance policies are necessary?Auto and Home InsuranceAuto insurance is generally required by law if you own a vehicle. Homeowners insurance is mandatory if you have a mortgage and advisable even if you don't. Bundling these two can save money, and adding an umbrella policy provides extra liability protection for a modest cost.Renters InsuranceRenters insurance is often overlooked but vital for protecting personal property and covering liability. It's affordable, typically under $200 annually.Health InsuranceHealth insurance is a must. Without insurance, the costs of medical care can be astronomical, making health coverage a crucial safeguard.Life InsuranceLife insurance is necessary if someone depends on your income. Consider term life insurance over whole life, especially when downsizing your policy later in life.Long-Term Care InsuranceLong-term care insurance is vital for those in their 50s and beyond. With most seniors needing some form of long-term care, this insurance can prevent financial ruin.Long-Term Disability InsuranceThis insurance protects your income if you're incapacitated. Premiums are typically a small percentage of your annual salary.Insurance to AvoidTitle theft insurance and identity theft insurance can be redundant. Instead, monitor your credit through free services like Credit Karma, Credit Sesame, or AnnualCreditReport.com and freeze it if needed. Title insurance, on the other hand, is crucial when purchasing a home.By strategically selecting the right insurance policies, you can protect yourself and your family against unforeseen events while avoiding unnecessary expenses.On Today's Program, Rob Answers Listener Questions:My wife and I sold our house in 2018 before the pandemic and we were living overseas for a while. Now that we're back, we're renting a home from some friends at a below-market price of $1100 a month. We have four kids, and it's a bit cramped in the three-bedroom, one-bath house. With the rising housing prices and interest rates, we're not sure if we should keep saving for a larger down payment on a $300,000 home or buy now with the 20% down payment we have. What do you think we should do - keep renting to save more or buy now, even with the high interest rates?I'm 56 years old and currently receiving Social Security disability benefits. Will the monthly amount I receive now change when I turn 67 and start receiving regular Social Security retirement benefits?I purchased a home in Dyer, Indiana, with a balance of $310,000, and I put a substantial amount down, so now I owe $173,338. My current monthly mortgage payment is $577, with $31.92 to the principal and $101.47 to the interest. I have substantial savings to pay off the remaining balance of $173,338. Given that I have the money and the interest rate on the loan is 7%, should I pay off the mortgage now or hold on to the cash for another year?Resources Mentioned:AnnualCreditReport.comCredit KarmaCredit SesameRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

Did you know that March is National Credit Education Month? To mark the occasion, Vince thought he'd share some info from the National Financial Educators Council Credit Education Guide. If you'd like a copy of the full guide, just drop him a note at vince@thecfoathome.com Credit Bureaus are Companies that collect information about your credit and other financial obligations Credit History Companies that you have loans with report how you have managed your debt to the credit bureaus. All this information is compiled into your credit history.  Credit Score Credit scoring companies (FICO and AdvantageScore)  use credit history info to calculate and assign you a credit score, which is used as a measure your creditworthiness The FICO scoring system is currently the most widely used and currently evaluates the following credit history elements with the following weights: 35% is based on your payment history. 30% reflects the amounts you currently owe. 15% is from the length of your credit history. 10% is from new credit and the number of recently-opened accounts. 10% is based on the types of credit you use. FICO credit score ranges Exceptional 800 - 850 Very Good 740 - 799 Good 670 - 739 Fair 580-669 Poor 300 - 579 Credit Report A summary of your credit history and credit scores is published by the credit bureaus as a credit report Resources www.AnnualCreditReport.com Contact the Host - vince@thecfoathome.com  

Welcome back to another episode of the Money Mindset podcast! Today, we're tackling a crucial question: "How often should you check your credit report?" Things have changed, and now you can get a free report every week from each credit bureau in the US. We're here to guide you on the best way to use this free service without making it a weekly chore. Let's explore together how often you should really be keeping an eye on your credit and why it matters for your financial well-being. Hosting Today: Hey, I'm Ashley Patrick, a personal finance expert and founder of Budgets Made Easy. I help busy moms create systems to save money and pay off debt so they can reach their big dreams faster and easier. I was able to pay off $45,000 in just 17 months including $25,000 in student loans in just 10 months. I'm a Master Financial Coach and have a bachelor's degree in psychology and will help you get to the root of your money problems. Since my journey started I have been featured on Fox Business, Yahoo! Finance, Food Network, USA TODAY, MSN, CNBC, NerdWallet, and many others. “It's important to check it periodically. Put a freeze on your credit report so that, hopefully, new charges aren't brought, but it's not foolproof, like I said. Know your rights because consumer protections are there to help protect you. And so knowing what your options are when it comes to your credit score, your credit report is very important.” - Ashley Patrick Timestamps: 00:54 - Introduction 01:34 - Frequency recommendations 03:02 - Checking your credit report regularly 05:01 - The importance of knowing your rights 07:51 - Freezing your credit report 10:55 - Implementing a routine 11:37 - Wrapping up and actionable steps For easy step by step directions and worksheets on getting your budget together and done in 30 minutes a month, download my FREE Budget Starter Kit on www.budgetsmadeeasy.com/start And if you enjoyed the podcast today and got some great takeaways, I'd really appreciate it if you followed the Money Mindset Podcast so you don't miss out on future episodes Resources and Links Mentioned: * Check your reports at www.AnnualCreditReport.com * Grab your FREE Budget Starter Kit at www.budgetsmadeeasy.com/start Connect with Ashley: * Instagram: www.instagram.com/budgetsmadeeasy

Johnnie Putman and Steve King bring you a friendly reminder to turn those clocks back one hour! Steve Bernas, President & Chief Executive Officer at BBB of Chicago & Northern Illinois kicks off our show by answering some scam questions and telling the class to check your credit report on Annualcreditreport.com, which is the only […]

Skip ahead to 10 minutes if you want to get right to the Churning news/updates! Companion Post Disclaimer: I am not a financial advisor. This is not financial advice. This is for entertainment purposes only. Enjoy! Shout-out the madman and legend Kleed for being a patreon supporter! Soon the site will be ad free! Call out Google Podcast, PocketCasts (removes white noise), Apple Podcasts & Overcast  Demographics! - See screenshot on companion blog post! Revived articles 2022 Spending Recap: I Spent Too Much Money Can Visa Signature's Roadside Assistance Replace AAA? One Card To Rule Them All, But Which Is Better? Curve vs Percents Highlighted Article Card Designs Liberty Bank SUB for $200 DP Venmo $5 on $50+ Amazon purchase (targeted, maybe works for GCs?) PNC Cash Rewards Increased SUB $200 after $1k spend in 3 months, plus double cash back first year if opened in branch Wells Fargo Active Cash Increased SUB $300 for $1.5k spend in 3m Costco removes Discover from online shopping Can get around with Curve (my writeup) (podcast episode including Curve info) (DoC discussion on Curve as a way around this) No more multiple Citi Custom Cash cards Capital One $350 checking SUB DD $250 twice in 75 days for $350 Credit Card Losses Rising At Fastest Rate Since Great Financial Crisis - CNBC & /u/Econ0mist Goldman Sachs hurting after Apple Card snafu 9/25 free 4 at home COVID tests Wesbanco $400 checking bonus (WV, PA, OH, IN, KY, MD) DD $500+ in 60 for $400 AnnualCreditReport.com is now permanently available weekly 15% off Uber and other GCs at OfficeDepot/Max BofA Double Cash Back Days 10/2-10/6 Panera 10%, Jamba 10%, HeyDude 10%, Aldo 15% Rant: Chase & BofA Offers Gone for 2 weeks, abroad episode when I return: cards used, lounges etc --- Support this podcast: https://podcasters.spotify.com/pod/show/churners-digest/support

More and more often, we are hearing about data breaches and hacks in the news. Often times, your personal identifying information, or PII, may be compromised or leaked through no fault of your own.  And while this can be a serious matter, Amy Walls and Jag are going to have some fun today - explaining how you can be your own super hero in the event of a data breach.Recently, the Oregeon DMV was hacked, compromising the drivers' licenses, photo, birth date, addresses, and last 4 social security digits of up to 3.5 million people.  In another example, an software employee stole 33,000 credit reports and sold them for $30 each, netting anywhere from $50-$100 million for scammers.First, we explain how these hacks happen, through data breaches, your own online activity, and even just plain theft of your wallet or phone.  Amy shows us what these bad actors can do with your information.Now, it's time to be your own super hero, by doing the following:Unmask the Invisitble Intruders - use AnnualCreditReport.comIce Out The Enemy - by freezing or locking your credit (Amy explains the differences)Shield Your Secrets with Two Factor Armor - by enablying two-factor authentication (2FA)The Power of the Unbreakable Code - creating strong and unique passwordsDodge Digital Phantoms - identify and avoiding phishing scams.Fortify Your Digital Fortress - use only secure Wi-Fi networks, and make your own safe!Through these strategies, you can fight "the never ending battle against cyber villains."For more information contact Amy Walls and her staff at 503-610-6510 or click here Thimbleberry Financial.

In this episode Luis shares how he obtained the highly coveted perfect credit score. If you're looking to improve your credit score, tune in to learn more about what you should be doing today!   Notes:   In this episode Luis talks about:   ·         How having a good credit score impacts other parts of your finances ·         The different parts that make up your overall credit score ·         Often overlooked mistakes that lower your credit score ·         How to protect your credit from fraudsters     Resources:   Download 3 Fundamental “Money Moves” to Make Before Turning 45.   Visit On My Way to Wealth   AnnualCreditReport.com   Freeze Your Credit with Experian   Freeze Your Credit with Equifax   Freeze Your Credit with TransUnion   Get an IRS Identity Protection PIN Luis' LinkedIN Luis' Twitter Luis' IG On My Way to Wealth YouTube Channel

Do you find yourself wondering if you will ever be able to afford a home of your own? There are a lot of moving parts to the real estate market and it can be challenging to know which parts apply to you. It definitely is not one-size-fits-all. Real estate is both cyclical and regional so take the blaring headlines with a grain of salt! In today's episode we want to give you the Big Picture view on how to approach the home buying process, as well as give you a starting place for creating a viable plan that will lead you to a successful home ownership journey. As with any great undertaking, a little education goes a long way and will help you stay focused and clear on the best choices for your situation. We will take you far beyond the "location, location, location" tag line and show you how to buy a home of your own. Links mentioned in this episode: AnnualCreditReport.com (Each year you can get a free copy of your credit report from each of the top three credit reporting agencies: TransUnion, Experian & Equifax.) Compare interest rates and home prices to get an idea of what you can afford before you start searching for a lender: Zillow.com/mortgage-calculator/

Too often we hang on to credit cards we no longer use, providing an unnecessary invitation to identity thieves to run up charges in your name. Canceling them is a good idea if done properly. We'll talk about that on this Faith and Finance. Christians should always take Proverbs 10:4 seriously. It reads, “A slack hand causes poverty, but the hand of the diligent makes rich.”  We certainly don't want to have a “slack hand” when managing credit cards.WILL CLOSING A CREDIT CARD ACCOUNT HURT YOUR CREDIT? This is a common question we hear all the time. Your credit score will drop a little after closing an account. Most people are surprised by that because it seems like you're being punished for doing the right thing, but it really just comes down to mathematics and complicated computer algorithms.To find out why your score drops, we'll have to simplify things. So first, a definition. An algorithm is just a set of rules that solve a problem in a limited number of steps.Algorithms live in computer models that give you more credit score points for having three things: long-standing accounts, more available credit, and more kinds of accounts like a credit card, an auto loan, or a mortgage. If closing an account falls under one or more of those factors, your score goes down.So just remember that the longer you have an account open, the more credit you don't use, and the more types of accounts you have, the higher your score. In fact, those three factors make up 55% of your FICO score.Now, why is that? It's simply because having old accounts, unused credit, and more kinds of accounts, tells lenders that you're more likely to pay them back.SHOULD A SLIGHT CREDIT HIT STOP YOU FROM CLOSING THAT ACCOUNT?Usually not, but there's one occasion when it could be important.If you're shopping for a mortgage or some other kind of loan, you want the highest score possible. Lowering your score by even a few points could put you in a lower range of scores, and that could affect the interest rate you get on the loan. A higher interest rate means money out of your pocket every month.But in most cases, when you're not seeking a loan, a slight drop in your credit score means very little. You'll quickly make that up if you keep the outstanding balances below 30% on remaining accounts and you make your payments on time.So, you may be asking, “Why bother closing an account after you've paid it off? Especially if it's going to cost you points on your credit score?” There are at least two good reasons:First, it eliminates the temptation to use it if you run into an unexpected financial problem. That's what your emergency fund is for, and you should use that money if the car breaks down or the water heater starts giving you cold showers.We've already mentioned the second reason to close an unused account. It's the constant threat of identity theft. If your account is hacked, it'll cause you a lot of headaches, especially if it's unused and you're not paying attention to it.Now, even though we said go ahead and close an unused account and don't worry about your credit score, you don't want to close several of them at once. Closing a bunch of accounts at once will multiply the negative effect on your score.The best way to close unused accounts is gradually — no more than one or two every six months. That way you spread out the negative impact. And at the same time, you minimize the impact by keeping low balances and making on-time payments with your other accounts.HOW TO CLOSE YOUR ACCOUNTSHere are the steps to closing an account and making sure it's closed. First, pay off any remaining balance. Then check for any recurring charges on the account and cancel or transfer them.After that, call your card issuer and tell them to cancel the account. You may want to follow up by writing an email or letter to your credit card issuer to confirm your card's been canceled.Finally, double-check your credit reports at all three credit bureaus— Experian, TransUnion and Equifax— to make sure the account's been closed. You can get them for free at AnnualCreditReport.com.On this program, Rob also answers listener questions: How should you determine the wisest way to use an inheritance?Is it wise to consolidate retirement accounts?What are the tax implications of receiving an insurance settlement?When does it make sense to pay off your mortgage early?RESOURCES MENTIONED:Find a Certified Kingdom AdvisorRemember, you can call in to ask your questions most days at (800) 525-7000. Also, visit our website at FaithFi.com where you can join the FaithFi Community, and give as we expand our outreach.  

Are you worried about a recession? Many economists say we're likely to have one in 2023. The Federal Reserve's raising of interest rates to fight inflation is a recipe for slowing the economy. In other words — recession. Are you prepared for it? We'll talk about it on Faith and Finance. So far, the GDP is still in positive territory, although not by much, and the unemployment rate remains low. That's a blessing. But higher interest rates will inevitably slow the economy, so it's time to “recession proof” your finances. The Mayday Budget helps you prioritize your spending during a financial hardship.Here's how you can build one: Step 1: check your credit score and get your credit reports. This will give you a base point and will allow you to accurately judge the effect of any late payments— if you're forced to make any in the future. You can get a free credit report from each of the three bureaus, Experian, TransUnion and Equifax at AnnualCreditReport.com.With those reports in hand, you'll be able to show creditors that you've made timely payments on your various accounts in the past. That could help you negotiate better terms if you find yourself temporarily out of work.Step 2: Familiarize yourself with the MayDay budget. It has only four categories. The first is food. You have to eat. But keep it simple and no eating out.The next Mayday budget category is housing. Make your mortgage or rent payment. Then comes utilities, and finally, transportation. So food, housing, utilities and transportation come first in the Mayday budget. With anything left over, you can pay other bills.Step 3: Look for other sources of help. Your unemployment benefits may run out … but other resources will probably be available.Check out non-profit organizations and local government agencies that may have assistance programs. You can call 2-1-1 to learn about services in your area or go online to 211.org.Step 4: Make a list of all your creditors and their contact information. Be ready to call them and explain in detail whatever financial situation you may be facing, and then pray you don't have to use it. But if you do, it's ready. If you can't pay a bill, call your creditor before it comes due. Run toward your creditors, not away from them.When you call and speak to a representative, have your latest paystubs handy so you can show how your income has been reduced. Tell that person how much you have available to pay on the debt for the time being.Ask if you can temporarily stop payments or make partial ones. Let them know how long you expect to be in your current situation. You may not know for sure, but try to give a reasonable estimate of how long it will take for you to begin making full payments on time again.Make sure you get the person's name and keep a record of what you talked about and any agreement you may have reached. Also, ask to have a copy of the agreement sent to you in writing. Creditors will usually do this anyway, but ask for it just to be sure, and hang on to that email or letter when it arrives.By the way, scam artists will use tough times like a recession to victimize folks who are already in dire financial circumstances, so don't respond to emails or give out information to anyone who calls you claiming to represent one of your creditors. Step 5: Get professional non-profit help for managing credit card debt. Contact our friends at Christian Credit Counselors if you're starting to fall behind in payments or expect you're about to. They have arrangements with many creditors to lower your interest rates. You'll make one payment that covers several creditors, making things much simpler. It's not debt consolidation, it's debt management that can help you pay off your creditors 80-percent faster. You can make arrangements to speak with a counselor at ChristianCreditCounselors.org.If you're laid off and lose your health insurance, check out Christian Healthcare Ministries. They offer a medical cost sharing alternative to health insurance - almost always at a much lower cost.  You can find out how they do it at CHMinistries.org.Step 6: Save as much as possible. It's for times like a recession that we always tell you to have 3 to 6 months living expenses in your emergency fund. There's no better way to recession proof your finances, so start saving today.Step 7: Pray. Pray that God will provide wisdom for managing your finances in difficult times. James 1:5 assures us, “If any of you lacks wisdom, let him ask God, who gives generously to all without reproach, and it will be given him.”So those are your steps to recession-proof your finances. Get all three of your credit reports free at AnnualCreditReport.com.On this program, Rob also answers listener questions: Should you use a debt consolidation firm? Does it make sense for elderly farm owners to put their farm into an LLC? Is it wise to invest $5,000 in I-bonds? What steps should you take to improve your credit? RESOURCES MENTIONED:Christian Credit CounselorsTreasurydirect.govRemember, you can call in to ask your questions most days at (800) 525-7000. Also, visit our website at FaithFi.com where you can join the FaithFi Community, and give as we expand our outreach. 

Your credit score is one of those things that you don't have to care about…until you really do. It's a system that kind of makes sense, but also can be crazy unfair.In this episode Sara and Caitlin (but mostly Caitlin) grill Lending Tree credit expert Matt Schulz on how credit scores are calculated and what it actually means. Do they stay the same for all of our lives? Can we make them better? Do they get worse if we check them every week? He tells us some very bad news about how bad credit can cost you a ton of money over your lifetime, but also hopeful news about how to build up your credit score so you can get out of the cycle.Here are some of the resources we mentioned in the episode:The government's consumer watchdog website: Consumer Financial Protection Bureau You can check your credit report at AnnualCreditReport.com - it's a no strings attached website that you can trust.The three big credit bureaus where you can check your credit score and freeze your credit so no one can open up a credit card or line of credit on your behalf:TransUnion Experian EquifaxAnd to find out more financial tips from Matt, follow him on Twitter @matthewschulz and subscribe to his newsletter. And watch out for his book in 2024 that promises to help people pay less, earn more and keep more of their money by asking the right questions in everyday situations.Oh! And do you have a passive income story? A success? A failure? Tell us about it in a voice memo and e-mail it to: womenonthevergepodcast@gmail.comAsk us your dumb investing and finance questions for Season 2 on our Ask Us page! This episode was edited by our co-producer Kelly West. Music by Bad Bad Hats and Devmo.

Episode Summary:In this week's episode, we share how to protect your child's financial identity and create a strong credit store to set them up well for the future. We dig into why this matters and the specific steps and recommendations for what to do. Episode Notes:Let's start with the typical protections: credit freezes and credit monitoring. Monitoring is like having a security camera in your house, while freezes are like having a wall around your house.So why not just freeze a minor's credit? Not that simple. You need a report to start a freeze. And the only way to have a report is to open a line of credit. See the problem? But there's a way to protect your child and build a long credit history.Step 1: Freeze your child's reports at Transunion, Equifax, and Experian. Equifax and Experian now how a specific form for a minor's freeze. For Transunion, you'll need to write a letter.Step 2: Check for any issues: If your child is over the age of 13, it's possible to search for a credit history for anyone over the age of 13 using the AnnualCreditReport.com. If your child is under the age of 13, parents must contact each bureau by mail and provide identity documentation.Step 3: Assuming everything goes well, add your child as an authorized user to every credit card you have, assuming the cards allow it. This sometimes, but not always, triggers the credit bureau to report history on that social.Step 4: Pay your bills! Don't ruin it for your child by messing up your credit score and the kids.Let this above approach ride for 18 years and your child will have protected credit reports and a strong history of credit. This can help them with student loans, new credit cards, opening a bank account, renting, buying or leasing a car, or buying a home. All of these things can also become very difficult if the child was the victim of identity theft.A few additional things you can and should do to protect the identity of your child:Keep their Social Security number safe.Educate them about online activity and monitor it.Don't share personal info unless absolutely necessary.Shred everything.What else can you do to build credit for a child?Co-sign a small loan with them.Open their own credit card if they're old enough.Open a credit builder card.Top 3 takeaways:Identity theft is a big problem for kids and can go unnoticed for years.It's easy to protect their credit report by placing a freeze with the credit bureaus.Adding kids to your lines of credit can help them build strong scores.Show references:Experian Form: Requesting a Minor's Credit Report, Fraud Alert or Security FreezeEquifax Form: Minor Freeze Request FormTransunion Freeze PageFriends on FIRE podcast #043 - Know and use your credit card benefitsFriends on FIRE podcast #044 - Credit Scores + Do they matter?Friends on FIRE podcast #048 - Is Credit Monitoring worth it?Friends on FIRE podcast #134 - Travel hacking our way to 1 million points in 2022Javeline study: Child identify fraud Credit Building Cards---Follow friends on FIRETwitterInstagramFacebookLinkedInLeave us a voicemail or text us: 404-981-3370eMail us at:  friendsonfiremm@gmail.comVisit our website: www.friendsonfire.org---Other LinksMaggie's Blog: Mostly Minimal LifeMike's Book: Your New Relationship with Money

It's easy to get rid of a credit card. Just cancel it. But is that the best way? And what if there's a balance? We'll answer frequently asked questions about canceling credit cards today on MoneyWise. So you might be tempted to think that you just have to call the credit card company and tell them you want to cancel, but there's a bit more to it than that, especially if you want to minimize the impact on your credit score. We'll get into that in a bit, but first, we want to mention that it's always a good idea to cancel a card you don't need because it reduces the potential for fraud if the card or number is lost or stolen. WHEN SHOULD YOU CANCEL A CARD? Well, first, when you realize that the card has an annual fee that's more than the benefits you've been receiving, if any. That means if you're paying a $135 annual fee but you're only getting $100 a year in rewards, obviously you'll be money ahead by canceling the card. You should probably also cancel a card when you're running up and maintaining a balance. If you can't resist the temptation, it's probably best to cancel it. And as I've told you before, any rewards you might be getting are meaningless if you carry a balance. The interest wipes out any cash back or rewards points for using the card. Now, I mentioned that canceling a card will usually impact your credit score, and folks are always asking why that is. First, you have to understand the five factors that make up your credit score. Your payment history is a big one, whether you've paid on time or late, and it makes up 35% of your score. That's followed by credit utilization: how much you have in outstanding balances versus your total available credit. That accounts for another 30%. Then there's the length of credit: how long you've had each account open. That's another 15%. New credit counts for another 10%, and finally, your credit mix makes up another 10%. That's whether you have just a credit card or if you also have a car loan and maybe a mortgage. Lenders feel that having different kinds of credit makes you a better risk. Keeping those in mind, you begin to see how canceling a card will probably lower your credit score because closing that account can affect three of the five factors making up your score, your credit utilization, length of credit, and credit mix. Unless the card is completely maxed out, it will mean you have less credit available. It will also reduce the total length of time you've had your accounts open, and it may eliminate one type of credit in your overall mix. All told, canceling a card has the potential to negatively affect 55% of your credit score. So if you want to cancel several cards, it's best to spread that out, canceling maybe just one every six months to lessen the impact. The effect is only temporary but you don't want to magnify it by canceling several cards all at once. HOW TO CANCEL CARDS Now, how do you actually cancel a card? Here are the steps. First, redeem any rewards pending on the card. If you just cancel the card, you might lose them. Then you want to pay off any outstanding balance. Technically, you can cancel with a balance, but you'll still be accruing interest, so paying it off is the real priority. Next, check your card statements for the last few months to see if you have any automatic charges. For example, maybe you have auto-pay set up for your car insurance, various apps or streaming services, and take this opportunity to cancel any you're no longer using. If you find any you do want to keep, put them on another account. If you miss any, it could result in late fees. Now, you're finally ready to call the credit card company to cancel. They have different procedures for doing this, so ask for specific instructions. For example, you may have to do it in writing. On the other hand, you may be able to cancel the card entirely online, so check the issuer's website to see if there's an online procedure for canceling. If so, follow the directions carefully to make sure it goes through. Then hang on to any confirmation you receive that the account is closed. Now, there's still one more step to make sure the card has actually been canceled. After about 30 days, check your credit reports from each of the three reporting bureaus: Experian, Transunion and Equifax. You can get them for free at AnnualCreditReport.com. If you find that a report still indicates the account is open, you can dispute it online. On today's program, Rob also answers listener questions: ● What are your options for Medicare supplements? ● When do annuity investments make sense? ● Does it make sense to work with a third party promising to settle your IRS debt? ● Are there any tax ramifications from filing a quit claim deed? ● What are the best conservative alternatives to a savings account? Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Every time you pay a bill, data is sent to a credit reporting agency. Errors can be made. It's important to know where to look to see if your credit information is correct, stolen, or purchased. Today's guest is Steve Baker. Steve is chairman of the Privacy Rights Institute. He is a lawyer and previously served as a leader at the FTC for over 27 years addressing consumer fraud in areas like telemarketing and spamming. Steve now writes The Baker Fraud Report, a free weekly newsletter covering consumer fraud from around the world. Show Notes: [1:08] - Steve shares what he currently does with The Baker Fraud Report and his career background. [2:46] - In the field of consumer fraud, there is always something to learn. [3:27] - The Privacy Rights Institute is meant to educate people on their rights regarding credit reporting. [5:02] - With tons of pieces of data, errors can occur. [6:05] - Steve shares some of the people who can pull your credit report. [7:34] - One error happens when people with the same name get mixed up. [9:04] - Steve explains how the system is supposed to work. [11:07] - Unfortunately the credit reporting agencies have poor customer service. [12:54] - Credit reports can also be pulled by employees and associates at places like car dealerships. There's no stopping them from searching anyone. [13:40] - Data breaches are also a concern and can lead to identity theft. [15:27] - The Los Angeles school district recently experienced a data breach through ransomware. [17:25] - There are some alternatives that are starting to come out for security. [18:56] - With the increase in people changing jobs and the economy in its current state, credit reports are being pulled more frequently at the moment. [21:09] - You can get a copy of your credit report once a year. Do this at AnnualCreditReport.com. [22:26] - If you see an error, reporting it to one agency is good. Keep an eye on your credit card bills. [24:24] - Scammers have also been known to alter recordings of your voice on the phone. [26:04] - If you see an unusual charge, don't try to locate or contact the person who made the charge. [27:48] - Currently, the best way for scammers to get your money is through cryptocurrency. [29:07] - Immigrants are particularly hit hard by scammers and credit report confusion. [31:01] - Keep an eye on your credit reports and periodically check for errors. [32:06] - Steve explains how credit repair works and what to look for. Thanks for joining us on Easy Prey. Be sure to subscribe to our podcast on iTunes and leave a nice review.  Links and Resources: Podcast Web Page Facebook Page whatismyipaddress.com Easy Prey on Instagram Easy Prey on Twitter Easy Prey on LinkedIn Easy Prey on YouTube Easy Prey on Pinterest AnnualCreditReport.com Baker Fraud Report

In the novel Don Quixote, author Miguel de Cervantes writes, By a small sample, we may judge of the whole piece. That, of course, is an early reference to statistics. They're often useful, but sometimes just plain scary. We'll discuss some scary statistics about identity theft today on MoneyWise. The financial information review site Fortunly recently compiled a list of identity theft statistics that should have us all concerned and ready to take steps to guard ourselves against this growing type of fraud. Now, since these stats were drawn from many different sources, some would appear to contradict others, but taken as a whole, they're really eye-opening. ALARMING IDENTITY THEFT NUMBERS To start with, there's a new victim of identity theft every 14 seconds in the U.S. And this would include adults and children. Put another way, about 50-million people become victims of this fraud every year. Identity theft costs Americans well over $50-billion a year. This includes IT professionals who've lost their jobs due to data breaches and consumers who are scammed through direct interaction with thieves, like in phishing emails and telephone fraud. The elderly are more likely to become victims of identity theft, and each year, the Federal Trade Commission receives well over 2 million related complaints a year. Now, this next statistic is really scary: 33% of Americans report they've been the victim of identity theft at least once in their lives. And the U.S. seems to be a world leader in this regard, with numbers higher than other nations like France and Germany. Not surprisingly, credit card fraud is the most likely way you'll be hit by identity theft. is the most common kind of identity theft, with the FTC getting nearly 20,000 complaints a year. Do you spend a lot of time on social media? Users of Facebook, Twitter, Snapchat and Instagram are 30% to almost 50% more likely to become victims of identity theft than folks who are not active on social media. Thieves have discovered those apps are a goldmine for collecting personal information on individuals to steal their identity. Most often, thieves use stolen identities to apply for government documents and benefits like with Social Security and filing fraudulent tax returns to get your refund. The next most common use of stolen identities is credit card fraud, followed by banking and utility fraud. Now, could where you live make you more likely to experience identity theft? Apparently so, according to the FTC, which has received nearly 150,000 complaints from California alone. Next in line is Illinois, then Texas, Florida and Georgia in order, rounding out the top five worst states for identity theft. Your age is another determining factor. Millennials, roughly age 20 to 40 years of age, make up more than a third of victims. Folks 60 to 69 make up a far lower percentage of victims, but their losses tend to be much higher when they're scammed. The fastest growing demographic for identity theft seems to be children, with over 1.3 million million of them becoming victims each year. Half of those are aged six or younger, and victims are getting younger all the time. The annual price tag for families suffering child identity theft is well over $500 million. So who's stealing children's identities? Well, it's interesting that only 7% of adults know the person who commits this fraud, but in the case of children, that figure is a whopping 60%. That means children are far more likely to have a family member, or a family acquaintance steal their identity. Here's another scary statistic: Up to 10% of the annual U.S. health budget is lost to identity theft that's about two million cases a year. Medical identity theft is when someone steals or uses your personal information, like your Social Security or Medicare number, to submit fraudulent claims to Medicare and other health insurers without your authorization. And one more statistic: Gift card fraud now amounts to losses around $150 million a year and is trending upward. That's not necessarily identity theft. It's when you're scammed into paying a bill or taxes that you don't owe by using a gift card. So what steps can you take to protect yourself? First, if you're asked to pay for something over the phone or in an email that you didn't initiate, hang up or hit delete. Second, get a copy of all three of your credit reports from Experian, TransUnion and Equifax at AnnualCreditReport.com. Look for accounts or loans that you don't recognize. If you find any, you can dispute them online. Finally, freeze your credit at all three bureaus. You have to do it individually, but it's well worth the effort to protect yourself from identity theft. On today's program, Rob also answers listener questions: ● Is there a way to give charitably out of a 401k and receive a charitable tax deduction? ● What are the limits on the amount you're allowed to contribute to a Roth IRA? ● Does paying off your mortgage affect your credit score? ● What financial steps do you need to take after a spouse passes away? Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

In the novel Don Quixote, author Miguel de Cervantes writes, By a small sample, we may judge of the whole piece. That, of course, is an early reference to statistics. They're often useful, but sometimes just plain scary. We'll discuss some scary statistics about identity theft today on MoneyWise. The financial information review site Fortunly recently compiled a list of identity theft statistics that should have us all concerned and ready to take steps to guard ourselves against this growing type of fraud. Now, since these stats were drawn from many different sources, some would appear to contradict others, but taken as a whole, they're really eye-opening. ALARMING IDENTITY THEFT NUMBERS To start with, there's a new victim of identity theft every 14 seconds in the U.S. And this would include adults and children. Put another way, about 50-million people become victims of this fraud every year. Identity theft costs Americans well over $50-billion a year. This includes IT professionals who've lost their jobs due to data breaches and consumers who are scammed through direct interaction with thieves, like in phishing emails and telephone fraud. The elderly are more likely to become victims of identity theft, and each year, the Federal Trade Commission receives well over 2 million related complaints a year. Now, this next statistic is really scary: 33% of Americans report they've been the victim of identity theft at least once in their lives. And the U.S. seems to be a world leader in this regard, with numbers higher than other nations like France and Germany. Not surprisingly, credit card fraud is the most likely way you'll be hit by identity theft. is the most common kind of identity theft, with the FTC getting nearly 20,000 complaints a year. Do you spend a lot of time on social media? Users of Facebook, Twitter, Snapchat and Instagram are 30% to almost 50% more likely to become victims of identity theft than folks who are not active on social media. Thieves have discovered those apps are a goldmine for collecting personal information on individuals to steal their identity. Most often, thieves use stolen identities to apply for government documents and benefits like with Social Security and filing fraudulent tax returns to get your refund. The next most common use of stolen identities is credit card fraud, followed by banking and utility fraud. Now, could where you live make you more likely to experience identity theft? Apparently so, according to the FTC, which has received nearly 150,000 complaints from California alone. Next in line is Illinois, then Texas, Florida and Georgia in order, rounding out the top five worst states for identity theft. Your age is another determining factor. Millennials, roughly age 20 to 40 years of age, make up more than a third of victims. Folks 60 to 69 make up a far lower percentage of victims, but their losses tend to be much higher when they're scammed. The fastest growing demographic for identity theft seems to be children, with over 1.3 million million of them becoming victims each year. Half of those are aged six or younger, and victims are getting younger all the time. The annual price tag for families suffering child identity theft is well over $500 million. So who's stealing children's identities? Well, it's interesting that only 7% of adults know the person who commits this fraud, but in the case of children, that figure is a whopping 60%. That means children are far more likely to have a family member, or a family acquaintance steal their identity. Here's another scary statistic: Up to 10% of the annual U.S. health budget is lost to identity theft that's about two million cases a year. Medical identity theft is when someone steals or uses your personal information, like your Social Security or Medicare number, to submit fraudulent claims to Medicare and other health insurers without your authorization. And one more statistic: Gift card fraud now amounts to losses around $150 million a year and is trending upward. That's not necessarily identity theft. It's when you're scammed into paying a bill or taxes that you don't owe by using a gift card. So what steps can you take to protect yourself? First, if you're asked to pay for something over the phone or in an email that you didn't initiate, hang up or hit delete. Second, get a copy of all three of your credit reports from Experian, TransUnion and Equifax at AnnualCreditReport.com. Look for accounts or loans that you don't recognize. If you find any, you can dispute them online. Finally, freeze your credit at all three bureaus. You have to do it individually, but it's well worth the effort to protect yourself from identity theft. On today's program, Rob also answers listener questions: ● Is there a way to give charitably out of a 401k and receive a charitable tax deduction? ● What are the limits on the amount you're allowed to contribute to a Roth IRA? ● Does paying off your mortgage affect your credit score? ● What financial steps do you need to take after a spouse passes away? Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

On this week's episode of Divorce & Beyond, Host, Susan Guthrie, is joined by Certified Divorce Lending Professional, Tami Wollensak. Together they discuss creative solutions around what you can and can't do with the marital home in a divorce!  So you want to keep the house in your divorce? You're not alone. The marital home and what is going to happen with it is one of the first questions soon-to-be-divorced couples ask when meeting with a divorce attorney or professional. The home is often one of the biggest assets and the mortgage is one of the biggest debts of divorce. In this episode, Susan and Tami explore solutions around the marital home, discuss some of the things you need to consider before keeping it, what you need to know about lending options, and other difficulties or situations that may arise.  Tami Wollensak is a licensed mortgage loan originator and a 25+ year veteran of the industry, she has experience working in multiple roles and facets of the industry. She has discovered her true passion in helping divorcing individuals navigate their home equity solutions while going through the most challenging time of their life.   Conversation Golden Nuggets:  Divorce mortgage planning provides options to help you make a more informed decision about the marital home Defining what the equity/value of a home is at the time of a divorce If you are awarded the home, you will need to refinance and take out a new mortgage Home taxes and homeowner insurance become your responsibility, the cost of these may change once you refinance If you keep the house, the mortgage is not your only responsibility! Tami shares why getting a home inspection can help you decide if you wish to pursue keeping the marital home or not If keeping the home post-divorce is something you are considering, this episode is a must-listen!  About this week's special guests: Tami Wollensak Tami Wollensak is a licensed mortgage loan originator and a 25+ year veteran of the industry, she has experience working in multiple roles and facets of the industry. She has discovered her true passion in helping divorcing individuals navigate their home equity solutions while going through the most challenging time of their life.  Tami has earned the certification as a Certified Divorce Lending Professional (CDLP™). This specialization provides her the ability to identify potential gaps in the agreement that cannot be met during the mortgage process. Tami works with her client's attorney, mediator, or nancial advisor to help guide them through all the options available to ensure a successful outcome regarding the divorcing couple's real estate.  As a Mortgage Loan Originator, Tami's goal is to educate her clients, take the mystery and anxiety out of the mortgage process, and provide a sense of security and peace to each of them. Website:  http://www.tamiwollensak.com Facebook: https://www.facebook.com/tamiwollensakcdlp LinkedIn: https://www.linkedin.com/in/tamiwollensak Instagram: https://www.instagram.com/tamiwollensakcdlp Also mentioned in this episode: Book a Strategy Session with Susan!  AnnualCreditReport.com If you want to see the video version of the podcast episodes they are available on The Divorce & Beyond YouTube Channel!  Make sure to LIKE and SUBSCRIBE so you don't miss a single episode! THANK YOU TO OUR SPONSOR: SOBERLINK Soberlink has teamed up with divorce and family law experts to bring you the information you didn't know that can provide peace of mind during the holidays. For those of you who still haven't heard about Soberlink, it is the solution for you if you are going through a divorce and custody case involving alcohol. Whether you are falsely accused of alcohol use or are concerned about your child's safety because of your other parents' alcohol use, Soberlink can help. Soberlink works hard to keep children safe. Offering a remote alcohol monitoring system that is the gold standard because of its technology. It includes a high-tech breathalyzer device with facial recognition that allows you to receive real-time updates from monitored co-parents anytime, anywhere allowing for swift intervention for improved child safety.  They have helped hundreds of thousands of people document proof of sobriety in real-time for peace of mind in child custody cases.  Don't miss out on Soberlink's Free Guide for the upcoming Holiday Season. Request your free guide today at www.soberlink.com/susan ******************************************************************* MEET OUR CREATOR AND HOST: SUSAN GUTHRIE®, ESQ., the creator and host of The Divorce and Beyond® Podcast, is nationally recognized as one of the top family law and divorce mediation attorneys in the country.  Susan is a member of the Executive Council of the American Bar Association Section of Dispute Resolution and is the Founder of Divorce in a Better Way® which provides a curated selection of resources and information for those facing divorce and other life changes.  Internationally renowned as one of the leading experts in online mediation, Susan created her Learn to Mediate Online® program and has trained more than 18,000 professionals in how to transition their practice online.  Susan recently partnered with legal and mediation legend, Forrest "Woody" Mosten to create the Mosten Guthrie Academy which provides gold standard, fully online training for mediation and collaborative professionals at all stages of their career.   Follow Susan Guthrie and THE DIVORCE AND BEYOND PODCAST on social media for updates and inside tips and information: Susan Guthrie on Facebook @susanguthrieesq Susan on Instagram @susanguthrieesq Susan on Twitter @guthrielaw ********************************************************************* SPONSORSHIP OPPORTUNITIES ARE AVAILABLE! If you would like to sponsor the show please reach out to us at  divorceandbeyondpod@gmail.com for pricing and details!!! ********************************************************************* We'd really appreciate it if you would give us a 5 Star Rating and tell us what you like about the show in a review - your feedback really matters to us!  You can get in touch with Susan at divorceandbeyondpod@gmail.com.  Don't forget to visit the webpage www.divorceandbeyondpod.com and sign up for the free NEWSLETTER to receive a special welcome video from Susan and more!! ********************************************************************* DISCLAIMER:  THE COMMENTARY AND OPINIONS AVAILABLE ON THIS PODCAST ARE FOR INFORMATIONAL AND ENTERTAINMENT PURPOSES ONLY AND NOT FOR THE PURPOSE OF PROVIDING LEGAL ADVICE.  YOU SHOULD CONTACT AN ATTORNEY IN YOUR STATE TO OBTAIN LEGAL ADVICE WITH RESPECT TO ANY PARTICULAR ISSUE OR PROBLEM  

What is the difference between surviving and thriving? It's all a matter of financial health. In today's episode, I chat with Angela Fontes of the Financial Health Network about their Financial Health Pulse report. Find out how income, race, gender, and more all impact financial health and what we can do to improve our financial health.  "I think we want to sort of think about financial health as both an individual responsibility and certainly as part of a macro-environment." - Angela Fontes  "So many different identities are getting left out of the conversation and it's like we all have to deal with money so why are some people getting more of the conversation when this is something we all have to deal with."- Melanie Lockert “Check your credit, pull your credit report on a regular basis and just make sure that what you think is happening with your debt and credit accounts is what is being reported and if you do see errors, make sure that you're addressing those so you do have the good credit score that is an important part of financial health.” - Angela Fontes What You Will Learn From This Episode Why we're seeing a drop in the financial health of American households How financial health increases and decreases based on income Four financial health metrics - how you can determine if you're financially healthy Why Black and LatinX communities experience less financial health Ways to improve financial health from an individual consumer perspective On the financial health gap between men and women and how we can decrease that gap What we can do to boost our financial health About Angela Fontes: As Vice President of the Policy and Research team, Angela oversees policy and measurement research for the Financial Health Network, including the Financial Health Pulse and FinHealth Spend initiatives. Using cutting-edge data and methodologies, Angela elevates important insights for policy-makers and the academic community to advance financial health for all.  Resources: annualcreditreport.com Financial Health Network  Connect with Angela:  finhealthnetwork.org Connect with Melanie mentalhealthandwealth.com melanielockert.com Instagram Support the podcast through Ko-Fi: https://ko-fi.com/melanielockert Buy Melanie's book “Dear Debt” Contact: mentalhealthandwealthshow@gmail.com Want more content and support? Sign up for the Mental Hump Newsletter and get our free Mental Health and Money inventory worksheet. You can sign up at MentalHealthandWealth.com. Also, we host a Mental Health and Wealth Hangout every other Thursday over Zoom at 5 pm PT to chat about all things money and mental health. Join here! Follow us on Apple Podcast or Libsyn! Love the podcast? Leave a review on iTunes!

Su informe de crédito es una parte importante de su vida financiera que puede determinar sus posibilidades de obtener crédito, qué tan buenos o malos serán los términos, y cuánto le costará tomar dinero en préstamo. Entérese de cómo obtener su informe de crédito gratuito y por qué es una buena idea. Tabla de contenido Acerca de los informes de crédito Cómo obtener sus informes de crédito anuales y gratuitos Lo que puede esperar cuando solicite sus informes de crédito Cómo monitorear sus informes de crédito Quién puede obtener una copia de sus informes de crédito Evite otros sitios web que ofrecen informes de crédito Reporte las estafas Acerca de los informes de crédito ¿Qué es un informe de crédito? Un informe de crédito es un resumen de su historial crediticio personal. Su informe de crédito incluye su información de identificación, como su domicilio y fecha de nacimiento, y otros datos sobre su historial de crédito, por ejemplo, cómo paga sus facturas o si se declaró en bancarrota. Hay tres compañías de informes crediticios que operan a nivel nacional (Equifax, Experian y TransUnion) que recolectan y actualizan esta información. En su archivo de crédito figuran las cuentas de la mayoría de las grandes tiendas con sucursales en todo el país y las cuentas de tarjetas de crédito otorgadas por bancos, junto con sus préstamos, pero no todos los otorgantes de crédito reportan información a las compañías de informes crediticios. La información que figura en su informe de crédito puede afectar su poder de compra. También puede afectar sus probabilidades de conseguir un empleo, alquilar o comprar un lugar para vivir y comprar una póliza de seguro. Las compañías de informes crediticios les venden la información de su informe a negocios que la usan para decidir si le prestarán dinero, extenderán crédito, ofrecerán un seguro o le alquilarán una vivienda. Algunos empleadores usan los informes de crédito para tomar decisiones de contratación. El grado de solidez de su historial de crédito también afecta cuánto tendrá que pagar para tomar un préstamo de dinero. Las compañías de informes crediticios deben hacer lo siguiente: Tomar las medidas necesarias para asegurarse de que la información que recolectan sobre usted sea exacta. Entregarle una copia gratis de su informe una vez cada 12 meses. Darle la oportunidad de corregir errores. Así lo establece una ley federal llamada Ley de Informe Imparcial de Crédito (FCRA). ¿Por qué debería obtener una copia de mi informe? El hecho de obtener su informe de crédito lo puede ayudar a proteger su historial de crédito contra inexactitudes, errores o signos de robo de identidad. Revíselo para estar seguro de que la información es exacta y está completa y actualizada. Considere hacerlo al menos una vez por año. Asegúrese de revisar su informe antes de presentar una solicitud de crédito, préstamo, seguro o empleo. Si encuentra errores en su informe de crédito, comuníquese con las compañías de informes crediticios y con el negocio que suministró la información para que eliminen los errores que figuran en su informe En este enlace encontrará información útil para detectar el robo de identidad. Los errores de su informe de crédito podrían ser un signo de robo de identidad. Una vez que los ladrones de identidad le roban su información personal, por ejemplo, su nombre, fecha de nacimiento, domicilio, números de cuenta de tarjeta de crédito o cuenta bancaria, números de Seguro Social o de seguro médico, pueden hacer lo siguiente: Vaciarle su cuenta bancaria. Efectuar cargos a sus tarjetas de crédito. Obtener tarjetas de crédito nuevas bajo su nombre. Abrir cuentas de servicio de teléfono, TV por cable u otras cuentas de servicios públicos bajo su nombre. Robarle su reembolso de impuestos. Usar su seguro de salud para obtener atención médica. Hacerse pasar por usted si los arrestan. El robo de identidad puede perjudicar su crédito con la acumulación de facturas impagas y cuentas en mora. Si cree que es posible que alguien esté usando indebidamente su información personal, visite RobodeIdentidad.gov para reportarlo y conseguir un plan de acción personalizado. Cómo obtener sus informes de crédito anuales y gratuitos ¿Cómo puedo solicitar mis informes de crédito anuales y gratuitos? Las tres compañías de informes crediticios del país han establecido un sitio web, una línea telefónica de acceso gratuito y un domicilio postal centralizados para que usted pueda solicitar sus informes de crédito anuales y gratuitos en un solo lugar. No se comunique con las tres compañías de informes crediticios del país individualmente. Estas son las únicas maneras de solicitar sus informes de crédito gratuitos: En internet, visite AnnualCreditReport.com Por teléfono, llame al 1-877-322-8228. Por correo: complete el formulario de solicitud de informe de crédito anual y envíelo a: Annual Credit Report Request Service P.O. Box 105281 Atlanta, GA 30348-5281 Hay un único sitio web, AnnualCreditReport.com, autorizado para procesar las solicitudes del informe de crédito anual y gratuito que usted tiene derecho a recibir conforme a la ley. ¿Con qué frecuencia puedo obtener un informe gratuito? La ley federal le da derecho a obtener una copia gratuita de su informe de crédito una vez cada 12 meses. Hasta diciembre de 2022, todas las personas que viven en EE. UU. pueden obtener un informe de crédito gratuito por semana de parte de las tres compañías de informes crediticio que operan a nivel nacional (Equifax, Experian y TransUnion) en AnnualCreditReport.com. Además, todas las personas de EE. UU. pueden obtener seis informes de crédito gratuitos por año hasta el 2026, a través del sitio web de Equifax o llamando al 1-866-349-5191. Eso se suma al informe gratuito de Equifax (más sus informes de Experian y TransUnion) que puede obtener en AnnualCreditReport.com. ¿Hay otras situaciones que me permiten obtener un informe gratuito? Conforme a lo dispuesto por ley federal, usted tiene derecho a recibir un informe gratuito si se presenta alguna de las siguientes situaciones: Una compañía le deniega su solicitud de crédito, seguro, empleo u otro beneficio, o se ha tomado otra acción desfavorable en su contra, a base de la información en su informe de credito. Eso se conoce como acción o medida adversa. Usted debe solicitar su informe dentro de los 60 días posteriores a la fecha en la cual reciba el aviso de la acción adversa. En el aviso se le proporcionará el nombre, el domicilio y el número de teléfono de la compañía de informes crediticios, y usted puede solicitarle su informe gratuito. Usted está sin trabajo y tiene previsto buscar un empleo dentro de los 60 días. Usted recibe asistencia pública, por ejemplo, algún beneficio de bienestar social. Su informe es inexacto debido al robo de identidad u otro fraude. Usted estableció una alerta de fraude en su archivo de crédito. Si pertenece a una de estas categorías, comuníquese con una compañía de informes crediticios utilizando la información de contacto de la agencia de crédito a continuación. Lo que puede esperar cuando solicite sus informes de crédito ¿Qué información tengo que dar? Para proteger su cuenta y su información, las compañías de informes crediticios tienen un proceso que les permite verificar su identidad. Esté preparado para suministrar su nombre, domicilio, número de Seguro Social y fecha de nacimiento. Si usted se ha mudado durante los últimos dos años, es posible que tenga que informar su domicilio previo. Le pedirán algunos datos que solamente usted puede conocer, como, por ejemplo, el monto del pago mensual de su hipoteca. Usted debe responderle estas preguntas a cada compañía de informes crediticios, incluso si está solicitando sus informes de crédito a cada una de las tres compañías al mismo tiempo. Cada compañía puede solicitarle diferentes datos ya que la información contenida en su registro puede provenir de diferentes fuentes. ¿Cuándo recibiré mi informe? Dependiendo de cómo lo haya solicitado, puede recibirlo de inmediato o dentro de un plazo de 15 días. Si lo solicita en internet en AnnualCreditReport.com, podrá acceder a su informe inmediatamente. Si lo solicita por teléfono llamando a la línea gratuita 1-877-322-8228, procesarán su pedido y le enviarán el informe por correo dentro de los 15 días siguientes. Si lo solicita por correo usando el formulario Annual Credit Report Request, lo procesarán y le enviarán el informe por correo dentro de los 15 días posteriores a la fecha en que reciban su solicitud. En caso de que la compañía de informes crediticios necesite más información para verificar su identidad, es posible que tenga que esperar un poco más para obtener su informe. ¿Puedo obtener mi informe en Braille, o en formato de letra grande o audio? Sí, su informe de crédito anual y gratuito está disponible en Braille, y en formato de letra grande o audio. Para recibir sus informes de crédito en estos formatos, tendrá que esperar tres semanas. Si padece sordera o tiene problemas de audición, llame al servicio de TDD al 7-1-1 y pídale al operador que lo comunique con el 1-800-821-7232 de AnnualCreditReport.com. Si tiene impedimentos visuales, puede solicitar sus informes de crédito anuales y gratuitos en Braille, o en formato de letra grande o audio. Cómo monitorear sus informes de crédito ¿Debería solicitar los informes a las tres compañías de informes crediticios al mismo tiempo? Usted puede solicitar los informes gratuitos al mismo tiempo o puede escalonar sus pedidos a lo largo del año. Algunos asesores financieros dicen que el hecho de escalonar sus solicitudes durante un período de 12 meses es una buena manera de vigilar que los datos registrados en sus informes sean exactos y completos. Debido a que cada compañía de informes crediticios obtiene su información de distintas fuentes, es posible que los datos de su informe de una compañía de informes crediticios no reflejen toda o la misma información que se registra en sus informes de las otras dos compañías de informes. ¿Puedo comprar una copia de mi informe? Sí, si usted no cumple los requisitos para obtener un informe de crédito gratuito, una compañía de informes crediticios le puede cobrar un monto razonable por una copia de su informe. Pero antes de comprarlo, averigüe siempre si puede obtener una copia gratis en AnnualCreditReport.com. Para comprar una copia de su informe, comuníquese con: Equifax:1-800-685-1111; Equifax.com/personal/credit-report-services Experian: 1-888-397-3742; Experian.com/help TransUnion: 1-800-916-8800; TransUnion.com/credit-help Quién puede obtener una copia de sus informes de crédito La ley federal establece quiénes pueden obtener su informe de crédito. Si está presentando una solicitud de préstamo, tarjeta de crédito, seguro, leasing de un carro, o si quiere alquilar un apartamento, esos negocios pueden ordenar una copia de su informe como una ayuda para tomar decisiones de crédito. Su empleador actual o eventual puede obtener una copia de su informe de crédito, pero únicamente si usted lo autoriza por escrito. Evite otros sitios web que ofrecen informes de crédito Es posible que vea que hay compañías y sitios web que ofrecen informes de crédito gratuitos, pero hay un único sitio autorizado para solicitar y obtener el informe de crédito anual y gratuito que tiene derecho a recibir por ley: AnnualCreditReport.com. Estos sitios web fingen estar asociados con AnnualCreditReport.com o dicen que ofrecen informes de crédito gratis, puntajes de crédito gratis o monitoreos de crédito gratis. También pueden usar términos como “informe de crédito gratis” en sus nombres. Incluso podrían establecer domicilios web (URL) con errores de ortografía intencionales en AnnualCreditReport.com, con la esperanza de que usted escriba incorrectamente el nombre del sitio web oficial. Si visita uno de estos sitios web impostores, podría terminar en otros sitios donde le querrán vender algo o recolectar su información personal para venderla o usarla indebidamente después. AnnualCreditReport.com y las compañías de informes crediticios no le enviarán un email para pedirle su número de Seguro Social o información de cuentas. Si recibe un email, ve un anuncio de tipo pop-up en internet o recibe una llamada en supuesta representación de AnnualCreditReport.com o de alguna de las tres compañías de informes crediticios, no responda ni haga clic sobre ningún enlace que aparezca en el mensaje. Es probable que eso sea una estafa. Reporte las estafas Si ve una estafa, fraude o mala práctica comercial, cuénteselo a la FTC. Visite ReporteFraude.ftc.gov, el sitio web de la FTC que le facilita su reporte.

According to the Consumer Financial Protection Bureau, Americans are struggling with over $88 Billion dollars in medical debt. Tune in to learn how new medical debt reporting changes will impact your credit scores.  Notes: In this episode, Luis speaks about the following and more: New changes to medical debt collection reporting on credit reports Understanding your explanation of benefits  Tips to navigate medical debt How to plan ahead in order to maximize your health insurance benefits and minimize medical debt   Resources: Download the 3 Fundamental “Money Moves” to Make Before Turning 45 LatinXcellence, more than a brand, it's a movement! AnnualCreditReport.com Medical Debt Burden in the U.S. Report by CFPB Luis' LinkedIn Luis' Twitter Luis' IG On My Way To Wealth YouTube channel

Women feel financially trapped in their marriage. Stacy's mission is to provide women with an option to leave their marriage and be financially secure. Specifically, to provide to women financial wisdom and financial security through education.   Stacy tells a story of her grandmother actually dying of financial abuse. Her grandmother died of physical abuse by her husband because she stayed in the marriage feeling financially trapped with no way out because of a lack of understanding of money, without a financial plan, and living in fear about the future, especially their financial future.    How can women without income file for divorce, hire an attorney, and know the financial picture of the marriage?   An attorney can be paid in different ways that the woman having the money to file for divorce.   Filing Joint tax returns will allow you to access those joint returns from the IRS. This will give you the knowledge necessary to know where you're going financially in the divorce. And you can see if there is IRS debt. There is an unusual situation in that people can hide money within their IRS account by purposely overpaying their taxes so that the IRS is holding money for your spouse without you knowing that there is a surplus of money.   Get a copy of their credit report. It can be emailed to you directly. Go to www.AnnualCreditReport.com and request your credit report. If your spouse has signed your name to loans that you didn't know about, but you can get a better picture of what you have nd what you owe.   Income versus spending is a whole education unto itself. A good financial analyst and consultant will help you create a budget, a spending plan, and see what the woman has to do to be solvent.   Marital Debt is a huge problem if there is more debt that is known to both spouses. And, the spouse who didn't incur the debt may be the one paying the debt if the debt was created during the marriage!!!! The creditor doesn't care who pays it; they just want to be paid.  One suggestion Stacy gave us is to get your name off of joint credit cards that may help a little is minimizing the community debt. Getting a credit report as soon as possible will give you a heads up on the financial health and welfare of the family. Jump in and get involved.   Financial date night, or a financial advisor will help you, as a woman, understand your financial health and welfare. Being strapped for time cannot be an excuse for not knowing about the family finances.   If you're experiencing pushback from your spouse when asking to know the financial picture of your financial relationship. “A marriage is an economic union,” Stacy said. 100% transparency has to be available or you may be experiencing financial infidelity.   You could be left holding the bag, and it could be an empty bag if there is more debt than can be managed properly. If, for instance, you have taken your name off of the Visa card and your husband takes responsibility for that debt in the marital settlement agreement, Visa won't care if your husband defaults on the Visa card. Visa will come after you to pay the debt if the debt was incurred during the marriage.   Financial Infidelity happens more than people think. Financial Infidelity is spending on things and hiding it. Not bringing home your full income is financial infidelity. Financial Infidelity means that you or your spouse are hiding spending from the partner.   In a survey of 150 divorced women, 64% felt that their husbands weren't being truthful about their finances. That's a big number, too big a number, for financial openness.   Three Parts to a Divorce as far as finances are concerned: Preparing Financials Negotiating the Settlement Living with the Settlement Each part of this divorce package is important to understand and to have a financial specialist to review with you. For instance, you may be house rich and cash poor by taking the house instead of cash investments, and then you're left taking daily living expenses out of investments and savings.   Having the right divorce team is important, but having a great divorce financial analyst is the best decision you can make because divorce is all about money when dealing with the settlement and life beyond the settlement.   #financialplanning #financialinsecurity #financialinfidelity #divorcesettlement #certifieddivorcefinancialanalyst #financialabuse #FrancisFinancial #financialfreedom #money #creditreports #IRSdebt #innocentspouserelief #cashpoor   Stacy Francis Biography   Driven by her mission to give financial wisdom and freedom to women, Stacy is the founder of the non-profit Savvy Ladies™, host of the Financially Ever After podcast, and author of resource guides for women in transitional stages of life. Her practice, Francis Financial, is a fee-only boutique wealth management, financial planning, and divorce financial planning firm. Her dedication to providing ongoing comprehensive advice for successful individuals, couples, and women in transition such as divorce or widowhood. Stacy has over 20 years of experience in the financial industry and is a nationally recognized financial expert having appeared in hundreds of media outlets, industry awards, and is also an expert contributor for The Wall Street Journal.   www.FrancisFinancial.com Facebook: /Francisfinancialinc Facebook: /StacyFrancisFinancial/ Twitter: /FrancisFinance LinkedIn: /in/stacyfrancis LinkedIn: /company/francisfinancialinc Stacy@FrancisFinancial.com

Are you prepared for a deeper economic downturn? While we can't predict the economic future, we can be prepared for it! We'll talk about that today on MoneyWise. Preparing for lean times is not only common sense, it's backed up by God's Word. Consider Proverbs 6, which teaches, Go to the ant consider her ways, and be wise she prepares her bread in summer and gathers her food in harvest. And in Genesis 41 we're told about Joseph as overseer for the Pharaoh storing up grain. It reads, and the seven years of famine began, just as Joseph had said. There was famine in all the other lands, but in the whole land of Egypt there was food. We don't have famines in the U.S., but we do have the business equivalent, recessions. In modern times, they seem to come about every 10 years, usually following strong economic growth. So it's never a question of if a recession will come, but when. HOW TO PREPARE So how do you prepare? Here are 7 steps you can take: 1. SEEK WISDOM: Take five minutes to sign up for a personal finance newsletter or blog. Christian Credit Counselors has a great blog about debt management and improving your finances in general. That's at ChristianCreditCounselors.org/blog. Also, our friend Crystal Paine has a daily newsletter with money-saving tips and deals. You can sign up for that at MoneySavingMom.com. 2. MAKE A TO-DO LIST: Make a to do list of 10 financial tasks you've been putting off. One example is to check your credit score. If you have a credit card, your issuer probably offers this as a free service. Related to that, get your credit report from AnnualCreditReport.com. You can get one from each of the three credit reporting agencies each year for free. Another idea might be to set up a high-interest savings account at an online bank. Or get disability insurance if you don't have it. Or maybe make out your will. Just keep going until you have 10 items on your list. Once you have your list, you're ready for the third step in preparing for recession: 3. TAKE ACTION: Do something. Pick one thing from your financial to do list and just do it! That'll give you the satisfaction of crossing it off. Then make a commitment to do another item each week. You're much more likely to finish the list if you focus on just one item. It's like the old joke, how do you eat an elephant? One bite at a time. 4. TRACK SPENDING: Set up a system to track your spending. If times are tough, you want to know where every dollar is going. You can do this manually with a small notebook where you write down everything you spend. Or you can simply have the free MoneyWise app to do it for you. It also has three ways to set up your budget, so one will be right for you. Download it wherever you get your apps. Just look for MoneyWise biblical finance. Or visit App.MoneyWise.org. 5. FIND SOMETHING TO CUT: Once you're tracking your spending, you'll get an idea of how you can make your dollars stretch farther. Try to identify one area a week where you can trim or cut something altogether. A good place to start is by canceling recurring charges in your checking account for apps or streaming services you no longer use. Odds are you have a few. 6. YOUR MAYDAY BUDGET: Next, work up your Mayday Budget. This is where you prioritize the four essentials. ● Number one is food because you have to eat. ● Two is housing because you need a place for you and your family to live. ● Three is utilities to keep the lights on and your home heated or cooled. ● And finally, transportation. Determine how much you'll need for those budget categories. All other bills are less important and you can always catch up on them later. That's your Mayday Budget. 7. REFLECT ON GOD'S WORD AND WISDOM: Last on the list of things you can do to prepare for a recession, but certainly not least, is take time to reflect and meditate on God's financial principles. There are more than 2300 verses in the Bible laying out God's wisdom for managing money so you've got plenty of reading to do. Maybe focus on just one a day, like Prov 22:7: The rich rules over the poor, and the borrower is slave of the lender. And if you're experiencing financial difficulty right now a good place to start is with Philippians 4:19. It reads, And my God will supply every need of yours according to his riches in glory in Christ Jesus. So those are some ways you can prepare for a recession. We hope you find them useful. On today's program, Rob also answers listener questions: ● Does closing a credit account hurt your credit score? ● How do you determine when it's time to move or reallocate your investments? ● Is now a good time to sell precious metals? ● When is it wise to roll a home improvement loan into a new mortgage? Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Are you prepared for a deeper economic downturn? While we can't predict the economic future, we can be prepared for it! We'll talk about that today on MoneyWise. Preparing for lean times is not only common sense, it's backed up by God's Word. Consider Proverbs 6, which teaches, Go to the ant consider her ways, and be wise she prepares her bread in summer and gathers her food in harvest. And in Genesis 41 we're told about Joseph as overseer for the Pharaoh storing up grain. It reads, and the seven years of famine began, just as Joseph had said. There was famine in all the other lands, but in the whole land of Egypt there was food. We don't have famines in the U.S., but we do have the business equivalent, recessions. In modern times, they seem to come about every 10 years, usually following strong economic growth. So it's never a question of if a recession will come, but when. HOW TO PREPARE So how do you prepare? Here are 7 steps you can take: 1. SEEK WISDOM: Take five minutes to sign up for a personal finance newsletter or blog. Christian Credit Counselors has a great blog about debt management and improving your finances in general. That's at ChristianCreditCounselors.org/blog. Also, our friend Crystal Paine has a daily newsletter with money-saving tips and deals. You can sign up for that at MoneySavingMom.com. 2. MAKE A TO-DO LIST: Make a to do list of 10 financial tasks you've been putting off. One example is to check your credit score. If you have a credit card, your issuer probably offers this as a free service. Related to that, get your credit report from AnnualCreditReport.com. You can get one from each of the three credit reporting agencies each year for free. Another idea might be to set up a high-interest savings account at an online bank. Or get disability insurance if you don't have it. Or maybe make out your will. Just keep going until you have 10 items on your list. Once you have your list, you're ready for the third step in preparing for recession: 3. TAKE ACTION: Do something. Pick one thing from your financial to do list and just do it! That'll give you the satisfaction of crossing it off. Then make a commitment to do another item each week. You're much more likely to finish the list if you focus on just one item. It's like the old joke, how do you eat an elephant? One bite at a time. 4. TRACK SPENDING: Set up a system to track your spending. If times are tough, you want to know where every dollar is going. You can do this manually with a small notebook where you write down everything you spend. Or you can simply have the free MoneyWise app to do it for you. It also has three ways to set up your budget, so one will be right for you. Download it wherever you get your apps. Just look for MoneyWise biblical finance. Or visit App.MoneyWise.org. 5. FIND SOMETHING TO CUT: Once you're tracking your spending, you'll get an idea of how you can make your dollars stretch farther. Try to identify one area a week where you can trim or cut something altogether. A good place to start is by canceling recurring charges in your checking account for apps or streaming services you no longer use. Odds are you have a few. 6. YOUR MAYDAY BUDGET: Next, work up your Mayday Budget. This is where you prioritize the four essentials. ● Number one is food because you have to eat. ● Two is housing because you need a place for you and your family to live. ● Three is utilities to keep the lights on and your home heated or cooled. ● And finally, transportation. Determine how much you'll need for those budget categories. All other bills are less important and you can always catch up on them later. That's your Mayday Budget. 7. REFLECT ON GOD'S WORD AND WISDOM: Last on the list of things you can do to prepare for a recession, but certainly not least, is take time to reflect and meditate on God's financial principles. There are more than 2300 verses in the Bible laying out God's wisdom for managing money so you've got plenty of reading to do. Maybe focus on just one a day, like Prov 22:7: The rich rules over the poor, and the borrower is slave of the lender. And if you're experiencing financial difficulty right now a good place to start is with Philippians 4:19. It reads, And my God will supply every need of yours according to his riches in glory in Christ Jesus. So those are some ways you can prepare for a recession. We hope you find them useful. On today's program, Rob also answers listener questions: ● Does closing a credit account hurt your credit score? ● How do you determine when it's time to move or reallocate your investments? ● Is now a good time to sell precious metals? ● When is it wise to roll a home improvement loan into a new mortgage? Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Are you prepared for a deeper economic downturn? While we can't predict the economic future, we can be prepared for it! We'll talk about that today on MoneyWise. Preparing for lean times is not only common sense, it's backed up by God's Word. Consider Proverbs 6, which teaches, Go to the ant consider her ways, and be wise she prepares her bread in summer and gathers her food in harvest. And in Genesis 41 we're told about Joseph as overseer for the Pharaoh storing up grain. It reads, and the seven years of famine began, just as Joseph had said. There was famine in all the other lands, but in the whole land of Egypt there was food. We don't have famines in the U.S., but we do have the business equivalent, recessions. In modern times, they seem to come about every 10 years, usually following strong economic growth. So it's never a question of if a recession will come, but when. HOW TO PREPARE So how do you prepare? Here are 7 steps you can take: 1. SEEK WISDOM: Take five minutes to sign up for a personal finance newsletter or blog. Christian Credit Counselors has a great blog about debt management and improving your finances in general. That's at ChristianCreditCounselors.org/blog. Also, our friend Crystal Paine has a daily newsletter with money-saving tips and deals. You can sign up for that at MoneySavingMom.com. 2. MAKE A TO-DO LIST: Make a to do list of 10 financial tasks you've been putting off. One example is to check your credit score. If you have a credit card, your issuer probably offers this as a free service. Related to that, get your credit report from AnnualCreditReport.com. You can get one from each of the three credit reporting agencies each year for free. Another idea might be to set up a high-interest savings account at an online bank. Or get disability insurance if you don't have it. Or maybe make out your will. Just keep going until you have 10 items on your list. Once you have your list, you're ready for the third step in preparing for recession: 3. TAKE ACTION: Do something. Pick one thing from your financial to do list and just do it! That'll give you the satisfaction of crossing it off. Then make a commitment to do another item each week. You're much more likely to finish the list if you focus on just one item. It's like the old joke, how do you eat an elephant? One bite at a time. 4. TRACK SPENDING: Set up a system to track your spending. If times are tough, you want to know where every dollar is going. You can do this manually with a small notebook where you write down everything you spend. Or you can simply have the free MoneyWise app to do it for you. It also has three ways to set up your budget, so one will be right for you. Download it wherever you get your apps. Just look for MoneyWise biblical finance. Or visit App.MoneyWise.org. 5. FIND SOMETHING TO CUT: Once you're tracking your spending, you'll get an idea of how you can make your dollars stretch farther. Try to identify one area a week where you can trim or cut something altogether. A good place to start is by canceling recurring charges in your checking account for apps or streaming services you no longer use. Odds are you have a few. 6. YOUR MAYDAY BUDGET: Next, work up your Mayday Budget. This is where you prioritize the four essentials. ● Number one is food because you have to eat. ● Two is housing because you need a place for you and your family to live. ● Three is utilities to keep the lights on and your home heated or cooled. ● And finally, transportation. Determine how much you'll need for those budget categories. All other bills are less important and you can always catch up on them later. That's your Mayday Budget. 7. REFLECT ON GOD'S WORD AND WISDOM: Last on the list of things you can do to prepare for a recession, but certainly not least, is take time to reflect and meditate on God's financial principles. There are more than 2300 verses in the Bible laying out God's wisdom for managing money so you've got plenty of reading to do. Maybe focus on just one a day, like Prov 22:7: The rich rules over the poor, and the borrower is slave of the lender. And if you're experiencing financial difficulty right now a good place to start is with Philippians 4:19. It reads, And my God will supply every need of yours according to his riches in glory in Christ Jesus. So those are some ways you can prepare for a recession. We hope you find them useful. On today's program, Rob also answers listener questions: ● Does closing a credit account hurt your credit score? ● How do you determine when it's time to move or reallocate your investments? ● Is now a good time to sell precious metals? ● When is it wise to roll a home improvement loan into a new mortgage? Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

The Personal Finance Education Bill (HB 1054) became law in Florida as of July 1, 2022.  The new law requires a financial literacy course as a prerequisite to high school graduation. George and I were thinking, if we designed the course, or if Governor DeSantis consulted with us to design the course, what are the top five things we would include (and then we thought up a few more). How to balance a checking account Understanding spending behaviors Budgeting Understanding Credit Score and more ... After listening to the episode, do you agree?  What would you include? Can you connect us with Governor DeSantis? One website mentioned in the episode - to get a free copy of your credit report annually, visit www.AnnualCreditReport.com. That is the only website endorsed by the FTC (Federal Trade Commission) and the only one that should be truly free on an annual basis. Please also visit our sponsors: Sam Cohen of Attorneys First Insurance for Attorneys and Title Companies looking to get a quote on Errors & Ommissions (malpractice) Insurance coverage. www.AttorneysFirst.com. Mark Purvis to help retirees who are looking for a fun and rewarding project  by capturing wisdom and stories that will bless their families today and for generations to come. www.LegacySpotlight.com. Let me know if you enjoy this episode and, if so, please share it with your friends that might gain value out of listening! To contact George Curbelo, you can email him at GCFinancialCoach21@gmail.com. To contact Shawn Yesner, you can email him at Shawn@Yesnerlaw.com / www.YesnerLaw.com.

Having a good credit score can help keep money in your pocket by getting lower interest rates. Today on MoneyWise, we'll talk about ways you can boost your score. We should say right at the start that some of these things aren't recommended, but we'll mention them because it will help you understand how your credit score is determined. PAY OFF BALANCES The first way to boost your score is to have a strategy for paying off your balances. Ideally, you pay them off in full every month. But if you can't do that, make sure you never use more than 30% of your available credit on any revolving account, like a credit card. Once you go over 30%, your score begins to fall. So if you're over that figure on a card, take steps to get below it quickly. You want to make your payment before the issuer reports to the credit bureaus each month. You can google to find out when that is. For example, Discover reports to all three credit bureaus (Experian, Transunion, and Equifax) three days after your closing statement for the month. An easy way to make sure your payment is recorded is to make two or more payments throughout the month. Keeping your balance below 30% is the second most important factor making up your credit score, right after making your payments on time. And that's the next way to boost your score PAY ON TIME Never make a late payment. If you pay late a single time, it can wipe out any gain you might make elsewhere. If you're ever more than 30 days late, call the creditor immediately and explain your situation. Ask if they'll delay reporting the late payment. They might, but there's no guarantee. Then make the payment as soon as possible. DISPUTE ERRORS Here's another one we've talked about: Dispute any errors on your credit report. Get all three reports for free at AnnualCreditReport.com. If you see an error you can dispute it at the appropriate credit bureau. If you have an account that's gone to collections, your score has probably suffered significantly and will continue to be affected for seven years. So be encouraged that dealing with collectors properly can have a big impact on your score. Obviously, if an account has gone to collections, you need to pay it off as quickly as possible. Call the collection agency and give them a plan for paying it in full or making regular and faithful monthly payments. When you've paid off the account, ask the collection agency if they'll stop reporting it to the credit bureaus. If they agree to do so, it will greatly improve your score. Of course, if the collection action is in error, you need to dispute it immediately at the three credit bureaus. WHAT IF YOU HAVE LITTLE OR NO CREDIT HISTORY? The next few ways to boost your credit score are aimed at folks who have little to no credit history. You can become an authorized user on someone else's credit card. For example, a parent can sign up online with the issuer to make a child an authorized user on a card. The child then gets the benefit of the parent's longer credit history and good payment record. But you can also get a secured credit card. You would put a deposit of, say, $500 on the card, and you can then use the card up to that limit. But don't. Instead, make one small regular purchase each month and pay off the balance in full. Your credit score will improve month by month. You can also boost your credit score by making your rent and utility payments on time. Landlords and utilities don't usually report to the credit bureaus, but you can subscribe with a rent reporting service to have it done. WHAT NOT TO DO Here are a couple of strategies that we DON'T recommend: First, you can raise your credit score by getting an increase in your available credit from your card issuer. That would improve your score because it lowers your credit utilization which makes up 30% of your score. A better way to achieve the same thing is to simply pay down your balances. You could also add different kinds of accounts. (Again, we don't recommend going into debt for credit-building purposes. For example, if you finance a car, your score will increase. That's because you have a greater credit mix, which makes up another 10% of your score. But it's just not wise to take on debt to improve your score, so don't. On today's program, Rob also answers listener questions: ● Should you consider a work-from-home job selling insurance? ● How can a college student figure out the right living situation on a low budget? ● When is it wise to refinance your mortgage? RESOURCES MENTIONED: ● BankRate.com Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Having a good credit score can help keep money in your pocket by getting lower interest rates. Today on MoneyWise, we'll talk about ways you can boost your score. We should say right at the start that some of these things aren't recommended, but we'll mention them because it will help you understand how your credit score is determined. PAY OFF BALANCES The first way to boost your score is to have a strategy for paying off your balances. Ideally, you pay them off in full every month. But if you can't do that, make sure you never use more than 30% of your available credit on any revolving account, like a credit card. Once you go over 30%, your score begins to fall. So if you're over that figure on a card, take steps to get below it quickly. You want to make your payment before the issuer reports to the credit bureaus each month. You can google to find out when that is. For example, Discover reports to all three credit bureaus (Experian, Transunion, and Equifax) three days after your closing statement for the month. An easy way to make sure your payment is recorded is to make two or more payments throughout the month. Keeping your balance below 30% is the second most important factor making up your credit score, right after making your payments on time. And that's the next way to boost your score PAY ON TIME Never make a late payment. If you pay late a single time, it can wipe out any gain you might make elsewhere. If you're ever more than 30 days late, call the creditor immediately and explain your situation. Ask if they'll delay reporting the late payment. They might, but there's no guarantee. Then make the payment as soon as possible. DISPUTE ERRORS Here's another one we've talked about: Dispute any errors on your credit report. Get all three reports for free at AnnualCreditReport.com. If you see an error you can dispute it at the appropriate credit bureau. If you have an account that's gone to collections, your score has probably suffered significantly and will continue to be affected for seven years. So be encouraged that dealing with collectors properly can have a big impact on your score. Obviously, if an account has gone to collections, you need to pay it off as quickly as possible. Call the collection agency and give them a plan for paying it in full or making regular and faithful monthly payments. When you've paid off the account, ask the collection agency if they'll stop reporting it to the credit bureaus. If they agree to do so, it will greatly improve your score. Of course, if the collection action is in error, you need to dispute it immediately at the three credit bureaus. WHAT IF YOU HAVE LITTLE OR NO CREDIT HISTORY? The next few ways to boost your credit score are aimed at folks who have little to no credit history. You can become an authorized user on someone else's credit card. For example, a parent can sign up online with the issuer to make a child an authorized user on a card. The child then gets the benefit of the parent's longer credit history and good payment record. But you can also get a secured credit card. You would put a deposit of, say, $500 on the card, and you can then use the card up to that limit. But don't. Instead, make one small regular purchase each month and pay off the balance in full. Your credit score will improve month by month. You can also boost your credit score by making your rent and utility payments on time. Landlords and utilities don't usually report to the credit bureaus, but you can subscribe with a rent reporting service to have it done. WHAT NOT TO DO Here are a couple of strategies that we DON'T recommend: First, you can raise your credit score by getting an increase in your available credit from your card issuer. That would improve your score because it lowers your credit utilization which makes up 30% of your score. A better way to achieve the same thing is to simply pay down your balances. You could also add different kinds of accounts. (Again, we don't recommend going into debt for credit-building purposes. For example, if you finance a car, your score will increase. That's because you have a greater credit mix, which makes up another 10% of your score. But it's just not wise to take on debt to improve your score, so don't. On today's program, Rob also answers listener questions: ● Should you consider a work-from-home job selling insurance? ● How can a college student figure out the right living situation on a low budget? ● When is it wise to refinance your mortgage? RESOURCES MENTIONED: ● BankRate.com Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

Your Debt to Income Ratio is a key metric of analysis lenders use when you submit a loan application. It gives us a good indication of how much you can afford in relation to the debts you currently hold. In the Denver Real Estate Market there is a LOT going on... little inventory, increasing rates AND increasing prices. So, how does that affect homebuyer affordability? Well, with all this activity, what you were approved for might not work anymore... and optimizing your DTI just became that much more important. In this episode, Nicole will walk you through what is part of your monthly debt and what are the exceptions. Listen at least once. Share this with your family and friends. Tip: The car doesn't care about the house, but the house cares about the car. Make your purchases in the right order. Tip: how do you calculate your debt-to-income ratio? To calculate your debt-to-income ratio, you add up all your monthly debt payments and divide them by your gross monthly income. Your gross monthly income is generally the amount of money you have earned before your taxes and other deductions are taken out.  For example, if you pay $1500 a month for your mortgage and another $100 a month for an auto loan and $400 a month for the rest of your debts, your monthly debt payments are $2,000. ($1500 + $100 + $400 = $2,000.) If your gross monthly income is $6,000, then your debt-to-income ratio is 33 percent. ($2,000 is 33% of $6,000.) AnnualCreditReport.com - free to pull your own report.

This week on The Motherhood & Money Show, Bethany and Marissa talk all things Credit, including what makes up your credit score, wether or not they have credit cards, and how credit may affect your cost of debt over your lifetime. Figure out your Lifetime Cost of DebtGet your free credit report at AnnualCreditReport.com to check credit history. Five Factors that make up your Credit Score: Payment history (35%)Debt Usage/Credit Utilization (30%)Credit Age (15%)Account Mix (10%)Credit Inquiries (10%)If you would like to send us a love note, you can go to our website and fill out the Love Note form!

Welcome to The Struggle is Real, a show for young adults looking for knowledge on issues they'll face in their 20s that wasn't taught in the classroom.   Why don't we feel better equipped to handle our finances when we get into the real world?   My guest today is working to solve that issue. On the show with me is Tracey Bissett, President and Chief Financial Fitness Trainer at Bissett Financial Fitness.   Tracey has over 20 years of experience in the financial services industry and after moving on from her successful career in banking, she's now focused on helping young adults and entrepreneurs achieve their financial goals.    Tracey is also the Host of the Young Money Podcast: an advice show for young millionaires in the making which she started over 3 years ago and now has over 120,000 downloads.   My goal by the end of this conversation is to have you feeling more confident about growing and using your financial skills.   Show Notes: [1:39] What is financial fitness? [3:25] Why is money so mysterious and what are schools doing to change this? [10:29] Having money conversations with your roommates [14:39] How Tracey got started in entrepreneurship [23:45] What are young adults doing well with money? [28:06] What is credit and what factors create my credit score? [30:38] Tackling students loans [34:55] Tips for creating your side hustle   Favorite Quotes: [2:39] “We can't change where we are starting but we can certainly change where we end up.” [32:21] “Getting a $1,000 scholarship will save you about 70 hours of work.” [37:21] “Whenever I'm in doubt and don't know how to approach something, I always ask Google.” [49:19] “Be purposeful. Make sure your life is filled with the things that you like and use your money as a tool to get you there.”   Mentions: Young, Fun & Financially Free: Live the good life now and build a kick-ass future! By Leanna Haakons (https://www.amazon.com/Young-Fun-Financially-Free-Kick-Ass/dp/0998854638) Check your credit score at AnnualCreditReport.com Young Money Scholarship Fund (https://www.bissettfinancialfitness.com/ym-scholarship-fund/)   More of Tracey: LinkedIn: https://www.linkedin.com/in/traceybissett/ Young Money Podcast (https://www.bissettfinancialfitness.com/category/podcast/)   More of Justin & The Struggle is Real: Show Notes: https://justinpeters.co/thestruggleisreal/ Instagram: https://www.instagram.com/justinleepeters/ YouTube:https://www.youtube.com/channel/UC0yHxQvHpSdx_gJiQJpVCIQ?view_as=subscriber Apple Podcast: https://podcasts.apple.com/us/podcast/the-sandbox-with-justin-peters/id1496701179?fbclid=IwAR26mTFgNRnMCdJjzA4FHTT6MvLKkuqGbx3rWm7J7UBM8ERVIiIV1Baj0IY Spotify: https://open.spotify.com/show/701hEq4AKxseYuY79xjpSJ