Holiday Budgeting Tips (plus 2 bonus tips for giving great gifts!)

 

'Tis the season for holiday shopping! Presents, family meals and decorations all put a strain on your wallet. Creating a holiday budget and sticking to it can help keep you on track. Here are some budgeting tips for the busiest shopping season of the year:

Don't just budget; track your spending, too!

While setting a budget is a good first step, it won't help you save money in the long run if you don't track your spending to see if you stuck with the original budget.  List your spending categories, such as gifts (be sure to list them), decorations, holiday cards, gift wrapping supplies, etc. Set practical spending goals for each of these categories, and then be sure to track how much you actually spend. 

 

Get the inside track for sales.

 

You can get access to special deals and sales by following retailers on social media. Whether you use Facebook, Twitter or simply subscribe to an email newsletter, many retailers will thank you for your loyalty with discounts and coupons that are not offered to the general public.

DIY (Handmade gifts)

If you are a crafty person or enjoy making things, it doesn't mean your gift won't be as meaningful! People love getting personalized, handcrafted gifts. Think about your talents and how you can utilize them. Are you into photography?  Find one of you best photos (maybe a flower or scenery shot) and create wall decor with it. Do you love woodworking? Try creating decor by painting a quote on a board or create a bird house or shelf or stool. Enjoy sewing? A personalized bag or apron or throw pillows are great gifts. Baking or cooking? Brownie mix, cookie mix, and soup mix are especially good for those who might live on their own or don't enjoy cooking. Layer them in a decorated mason jar for a festive look!

Avoid impulse buys.

 

Holiday sales can be especially tempting (Black Friday and Cyber Monday for example), but the fantastic deals on these days can also lead to impulse buys. If an item isn't on the list of planned purchases from your budget, wait at least 24 hours. After you've slept on it, if you still want the unplanned item, see if you can work it into the budget without straining your other financial obligations.

Save your budget for next year.

 

After the holidays, don't throw away this year's holiday budget. Save it and use it as a model for next year's shopping. Make notes of where you deviated from the original budget, so that next year's is more accurate. You can also use the gift lists from year to year. If you know well in advance what items you want to buy, you can shop for them during the season when they're cheapest, rather than during the holidays.

BONUS TIPS! 

If you are stuck trying to think of the right gift to buy someone, here are two ideas to try. 

Think of any hobbies that person has or what he/she enjoys doing. Then, just think about the hobbies one at a time and write down anything that would accompany the hobby. For example, if your friend loves hiking, your list might include water bottle, Nike socks, fit bit, backpack, cliff bars, homemade protein bars, headbands, and workout clothing. If you can't think of anything, try searching the Internet for ideas. For example, type 'hiking accessories' in your search bar and see what comes up! 

If you have Pinterest, find your friends on there and see what they have pinned. It's like a personalized wish list right there for you to choose from! 

World Kindness Day

Kindness Day was born on November 13, 1997 and it is celebrated by countries all over the world.

To celebrate World Kindness Day, you don't need to fly across the globe and provide homes for everyone in need or give thousands and thousands to your local food pantry. While those would be wonderful things to do, this day is about little things.

What is one thing you can do today that would make someone else smile? Here are a few ideas:

• Send someone in the military a card
• Make an effort to smile more today
• Encourage/compliment a friend or co-worker 
• Write a handwritten note to a parent/grandparent
• Stop by a nursing home and visit with 3 people
• Say 'thank-you' and really mean it
• Text 3 people just to say how awesome they are
• Go on a walk and pick up litter
• Invite someone over for dinner and cook them something fun (or just dessert?)
• Volunteer an hour of your time

Do you have more ideas? Share them with us! 

Counterfeit Credit Card Fraud Increasing - How Will it Affect Consumers?

If you're wondering what that new gold chip is on your credit or debit card, you are not alone. If you don't have it yet, you probably will soon. It is a tiny piece of technology called an EMV chip that will make a big difference in card security. Paying with a chip card instead of a magnetic stripe card brings added security for your in-store transactions (unfortunately, it doesn't add any protection to shopping online). 

At the end of 2014, approximately 120 million chip cards had been issued in the U.S. 

 

However, the criminals who steal card data and manufacture counterfeit cards know this. Banking experts are reporting an increase in counterfeit card fraud in Wisconsin, which most likely means many criminals are stockpiling their counterfeit cards before everyone has chip cards. Experts predict this trend will only increase over the next few months. While banks are already taking steps to counteract this sudden swell in criminal activity, what can consumers do to protect themselves during this surge in counterfeit card fraud?

1) Protect Your Card
 
Counterfeit cards are made by loading legitimate credit or debit card information onto a fake card. Protect your card's information by watching carefully for devices such as skimmers and by never writing down or giving out your PIN. If you shop online, be sure to only used trusted websites that have "https:" (not "http:") in the front of their URL. In addition, never access any website that transmits sensitive information (including shopping, online banking, etc.) from an unsecured Internet connection, such as the public Wi-Fi at a coffee shop.

2) Monitor Your Accounts

The other key to minimizing the damage caused by counterfeit card fraud is for consumers to monitor their accounts. Check purchases made on your card using online banking or your mobile app frequently. If you only ever check your statement, you're only going to catch fraudulent purchases once per month. A better practice is to look every other day to see if someone has accessed your credit card information and used it to made fraudulent purchases.

If you do notice suspicious activity on your card, notify your bank and credit card company immediately. The quicker you react, the sooner the bank can stop the fraud and ensure that you don't lose any money. Call the number on the back of the card and use the number you have on your statement for the bank, not a number you may have received via email or text message (which is a common scam technique). 

Consumers can also visit www.GoChipCard.com to learn more about how EMV cards offer better security and how to use them.

6 Ways to Boost Your Credit Score

Consumers should be mindful of the critical impact credit scores can have on their life. Will you will need a loan in the future (Mortgage, Auto, Ag, Credit, etc.)? A good credit score will help ensure you get approved and may influence your interest rate.

To make sure you’re building a healthy credit history, consider the following tips:

• Request a copy of your credit report – and make sure it is correct. Your credit report illustrates your credit performance and must be accurate so  you can apply for other loans. Everyone is entitled to receive a free copy of his or her credit report annually from each of the three credit reporting agencies. But, you must go through the Federal Trade Commission’s website: www.annualcreditreport.com or call: 1-877-322-8228.  Note that you may have to pay for the numerical credit score itself.
• Set up automatic bill pay.  Payment history makes up 32 percent of your Vantage Score credit score and 35 percent of your FICO credit score. The more you pay your bills on time, the better your score.  Avoid missed payments by setting as many of your bills to automatic pay as possible.
• Keep balances low on credit cards and ‘revolving credit.’ Racking up big balances can hurt your scores, regardless of whether you pay your bills in full each month. You often can increase your scores by limiting your charges to 30 percent or less of a card's limit.
• Apply for and open new credit accounts only as needed. Keep this in mind the next time a retailer offers you 10 percent off if you open an account. But, if you need a new line of credit, don’t jump at the first appealing offer. Compare rates and fees offered through mail solicitation, on the Internet, or at your local bank.
• Don’t close old, paid off accounts.  According to FICO, closing accounts can never help your score and can in fact damage it. 
• Talk to credit counselors if you’re in trouble. Using legitimate, non-profit credit counseling can help you manage your debt and won’t hurt your credit score. For more information on debt management, contact the National Foundation for Consumer Credit (www.nfcc.org).

Have something to add? Let us know in the comments!

Cheap and DIY Halloween Ideas!

Halloween. Who doesn't love this time of year? Costumes! Candy! Trick or Treat! It's all fun until you realize how much a perfect new costume can cost. Or how much candy you go through. Not to mention, party supplies if you host the Halloween party this year.

The National Retail Foundation estimates Americans will spend 6.9 billion on Halloween this year. That averages $74 per person.
If that doesn't sound like a number that fits into your budget, here are a few ideas we found to spend less.

1. Shop at home. When is the last time you dug through your closet or attic? You might be surprised at the fun outfits you can find. 

If you're finding a costume for you kids, mommy's heels, pearls, and makeup can be oh-so exciting.  Or, daddy's old cowboy hat and worn out boots.

Cardboard and paint can go a long way towards a ninja turtle, butterfly wings, or princess crown.

Costume for yourself? Try a celebrity look, pick a movie character, or a historical figure.

2. Visit a thrift store or garage sales. There are so many great costume ideas just waiting to found. Need some examples? 

>>>Hunched back granny (outfit, glasses, and curlers/baby powder or flour for your hair)
>>>Throwback theme -'60s, '70s, '80s- pick a decade and find an outfit!
>>>Gypsy/fortune teller. put your hair up in a scarf, practice the makeup, put on the flashy jewelry, and find a glass ball.
>>>Artist -find an 'artsy outfit', complete with hat of course, and make a palette board out of cardboard. 



There are hundreds of ideas out there. Maybe these will get your creative juices flowing. 


3. Next stop-dollar stores. Need one last prop for your outfit and can't find it at the thrift store or diy? Dollar stores often have
big glasses, wands, etc. for a pretty cheap price. Dollar stores are also great for candy!

4. Hosting the party? Come up with a theme and ask each guest to bring a snack that goes with your theme! Or, ask each guest to bring a snack that goes with their outfit. This is a great way to get a variety of different snacks and it's fun for everyone to get creative.  Make it a game! Vote on the most creative/fitting/scariest snack  and give the winner a prize! 

5. Go easy on the decorations. It's amazing how far a bunch of orange and black streamers can go. Paint 50 cent mini pumpkins with spiders, ghosts, and bats. Set them all over the place or hang from the ceiling.  

Have more ideas? Share with us!

Want to Stay Safe on Social Networking Sites? 14 Tips.

In case you didn't know, it is Cyber Security Awareness Month! We're sharing 14 helpful security and privacy tips for using social networking sites. (Facebook, SnapChat, Instagram, etc.)

1. Ensure that any computer you use to connect to a social media site has proper security measures in place. Also, the internet connection. Public wi-fi is not a good idea.
   
   
2. Use and maintain anti-virus software, anti-spyware software, and a firewall. Keep these applications and systems patched and up-to-date. If you're not sure what we mean, visit your local computer store and they can help you!
   
   
3. Be cautious when clicking on links. If a link seems suspicious, or too good to be true, do not click on it...even if the link is on your most trusted friend’s page, even if they sent it to you in a message. Your friend’s account may be hijacked or infected and now is spreading malware. You could send them a quick text to see what's up if you aren't sure. Better safe than sorry!
   
   
4. If you are going to delete your account, first remove all the data. And, request the account is actually deleted, rather than just deactivated.
   
   
5. Type the address of your social networking site directly into your browser. Or use your personal bookmarks. Clicking a link through email or another website might lead to a fake site. Here, your personal information could be stolen.
   
   
6. Be cautious about installing applications. Some social networking sites provide the ability to add or install third party applications. Games, for example. Keep in mind there is sometimes little or no quality control or review of these applications. They may have full access to your account and the data you share. Malicious apps use this access to interact with your friends and steal your data. Only install apps that come from trusted, well-known sites. If you are no longer using the app, remove it. Also, please note that installing some applications may change your security and privacy settings.
   
   
7. Use strong and unique passwords. Using the same password on all accounts increases the vulnerability of these accounts. If one becomes compromised, they ALL do. Use different passwords for different accounts.  Don't use the password you use to access your organization’s network for any personal sites.
   
   
8. Be careful whom you add as a “friend,” or what groups or pages you join. The more connections you have, the more people have access to your information. Also, if you get a "friend request" from someone you thought you were already friends with - don't just accept! A common Facebook scam is to duplicate a profile (complete with identical profile and cover photos), then connect with all their friends to steal data. Make sure you do your research before accepting friend requests.
   
   
9. Do not assume privacy on a social networking site. For both business and personal use, confidential information should stay confidential. In other words, don't share it! You should only post information you are comfortable disclosing to a complete stranger.
   
   
10. Use discretion before posting information or comments. Once you post information online, it is available to anyone. You may not be able to retract it afterwards. Keep in mind, anything posted on government-related social networking pages may be considered public records.
    
    
11. When posting pictures, delete the meta data, which includes the date and time of the picture.
    
    
12. Do not announce that you are on vacation, away for an extended period of time, or home alone. It's just an open invitation for unwelcome "guests".
    
    
13. Set privacy settings. Only allow people you trust to have access to the information you post and your profile. Also, restrict the ability for others to post information to your page. The default settings often allow anyone to see your information and post information to your page.
    
    
14. Review a site’s privacy policy. Some sites may share information, such as email addresses or user preferences, with other parties. If a site’s privacy policy is vague or does not protect your information, do not use the site.

We know, this is a hard list to follow. But, these steps will help keep your information safe. You don't want your personal profile hacked.

I'm Still Young...Why Should I Worry About Investing?

Investing. The thought might confuse you, intimidate you, sound too boring for you, or just sound like something your grandpa should be worrying about-not YOU! Change that mindset. Investing. Freedom from stress, independence, no regrets.

Freedom!

Who wants to be able to live free? To go on a spontaneous trip? No worries about the future? Most of us would agree-that sounds pretty great. 

But what does investing have to do with that? If I spend all my money on investments...I won't have any left for fun stuff, right? That might be true for a short while, but look at the long run here. 

Good-bye Stress

Imagine your life in five years. Go ahead...close your eyes for a minute and just dream. Now, 10 years. 50 years. Have a visual? Maybe you want to be a stay-at-home parent someday. Maybe you want to spend retirement traveling with your sweetheart. Showering your grand-kids with gifts. Maybe you want to start your own business or invent something awesome. Everyone has a different dream, a different journey through life.

I bet being broke, stressed, and not able to enjoy anything was not on your list. Neither was spending years just making ends meet and ending up with nothing to live off of for your last days. And don't just depend on the Government to take care of you...that is not one of life's guarantees. 

Compounding Interest

Just think, if you start early, you could invest for 10 years and be set for the rest of your life. If you wait 10 years to start though, you will have to continue investing for the rest of your life to catch up. 

Have you seen this visual that Dave Ramsey uses? 

Ben only invests $16,000 while Arther invests $78,000. But who ends up with more? 

How is this possible? Compounding Interest. 

See, Ben started early. Each year, his money earned interest. The next year, he earned interest on both his money plus last year's interest. The third year, he earned interest on his money and the last two years' interest. This just continues so his money continues to grow. 

Arther had compounding interest also, but since he started later, it didn't add up as fast.

Now, after Ben turned 26, he never worried about investing again and he knew that his future was secure. He will be able to live his dreams without depending on anyone else to take care of him. He is financially self-sustainable. 

By starting early, he saved thousands of dollars. And didn't waste time worrying about whether he would be able to retire. 

Independence.

Ben could start his own business, because he wasn't dependent on his employer's 401(k).  He could take a break and spend some time traveling. All he needs to cover are the day-to-day expenses. Everything else? Taken care of.  No regrets.

What do you think about investing now? It's not as hard as you may think. Find an investing expert to talk to. And just do it. You can.