American Tire coming to Blakeslee

BLAKESLEE — The largest tire distributor in North America will soon be opening a 1 million square foot facility and bringing new jobs to the region by late October.John Jablowski Jr., announced the construction of an American Tire Distributors facility in a press conference in New Ventures Park in Blakeslee on Thursday.“It's a very big win for the community for Tobyhanna Township and the entire Pocono plateau. The jobs we create are not just jobs for [...]

Source Business - poconorecord.com http://ift.tt/2DOJRqy

The 7 Best National Banks In America for 2018

Tiffany Haddish’s Mad Grouponing Skills Will Make You Love Her Even More

Tiffany Haddish was one of the breakout actors of 2017 for her role in the comedy “Girls Trip.” Haddish takes that momentum into 2018 with a new role as a spokesperson. But the company she’s representing may surprise you: It’s deals site Groupon.

Haddish is unabashedly frugal, which we learned when she told Jimmy Kimmel she took fellow stars Will Smith and Jada Pinkett Smith on a swamp tour she found using Groupon. But her experience doesn’t stop with one funny gator-seeking trip. Haddish is a Groupon evangelist.

Groupon will introduce Haddish as spokesperson in a commercial during a certain widely viewed football game that airs soon, aka the Super Bowl. But video clips on the company’s website reveal all the things Haddish has saved on with Groupon: manicures, hair styling, accommodations and meals on international trips. She even found her dentist through Groupon.

Want to Shop and Save Like Tiffany Haddish?

Groupon reports that Haddish is in the top 1% of users, so don’t feel guilty if your glamorous life only includes occasional Groupon savings. Here are a few tips to make the most of all the deals you see on Groupon.

Stay on Point

Think about what you’re trying to save on before browsing Groupon’s offers. If you’re trying to save on haircuts, for example, don’t let yourself drift into the section with concert and amusement park deals.

Narrow Your Location

It doesn’t matter how much you’re going to save on a yoga class if you have to travel an hour each way. Consider your transportation method and convenience when you’re hovering over that “buy” button.

Read the Fine Print

Dining and entertainment offers can come with some tricky restrictions. Look for blackout dates, minimum check requirements or other stipulations that may render the deal impractical. Check the merchant’s website to make sure prices align with what you expect to pay — and save — with Groupon.

Check That Expiration Date

And don’t forget to note the expiration date for any deals you plan to purchase. Every Groupon has an expiration date for the specified promotional pricing, but the amount you paid for the voucher stays valid forever.

Lisa Rowan is a senior writer and producer at The Penny Hoarder who would jump at the chance to go on a vacation with Tiffany Haddish.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

source The Penny Hoarder http://ift.tt/2mUhK22

Work From Home and Earn $10-15/Hour as an Online Tutor for Brainfuse

Are you looking for a side gig that involves sharing some of your awesome skills? Or maybe you want to get into the teaching game but don’t really want to leave the house.

Either way, you’ve come to the right place.

Brainfuse, an e-learning company that offers 24/7 online tutoring, is currently looking for online tutors across a wide variety of topics.

As an online tutor for Brainfuse, you will do live tutoring from the comfort of your own home (or anywhere that has an internet connection). You don’t even have to own a webcam or mic since all of your work will be done through a virtual whiteboard.

So if you’ve got the knowledge and want to share it for some extra money in your pocket, check out the long list of subjects Brainfuse has to offer.

But if this doesn’t really sound like your cup of tea, no worries. Go check out our Jobs page on Facebook, it’s a gold mine of opportunity!

Online Tutor Jobs at Brainfuse

Pay: $10 to $15 per hour

Schedule: Flexible, choose your own hours

Applicants for this position must have:

• A bachelor’s degree

• Proof of education level

• Their own computer

• A stable internet connection

These are the subjects that Brainfuse is currently hiring for:

• Science: Biology, microbiology, chemistry, organic chemistry, biochemistry, astronomy

• Social Sciences: Geology, geography, sociology, psychology, earth science

• Math: Algebra, geometry, trigonometry, precalculus, calculus (I-III), statistics, Mathematics of Games, introductory game theory, combinatorics and probability

• Social Studies: History (world and American), government

• Business: Accounting, government accounting, finance, economics

• Computer Science: Java, JavaScript, cloud computing, PHP/MySQL, PERL/CGI, Advanced Visual Basic, C++, HTML, information technology, A+, Security+, CCNA, CCNA Security, Linux+, Windows scripting

• Medical: Dental hygiene, pharmacology, pharmacy studies, nursing

• Language: French, Spanish, Italian

• Music: Music theory, music appreciation

To apply to become an online tutor for Brainfuse, send a copy of your resume to the email address listed here. The email subject line should say “Indeed Applicant” and include the subject that you are applying for.

Kaitlyn Blount is a junior staff writer at The Penny Hoarder, and she has a sudden desire to learn Italian (or maybe just get some Italian food).

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

source The Penny Hoarder http://ift.tt/2DnazJV

Alliant Credit Union Review

You probably won't be surprised to hear there are over 6,000 different banks in the United States. In fact, you could probably name about 20 banks off the top of your head. When you're shopping around for a place to put your money, it can be an overwhelming search trying to find the best fit for you and your cash. Every bank and credit union has different rates, perks, and products you need to compare when you're searching. To help you on your search for the perfect financial institute, I've reviewed some of the most popular banks and credit unions out there. We are going to look at Alliant Credit Union, who you may not have heard of, but should be one your list of contenders.

A Quick Background of Alliant Credit Union

They are not the oldest credit union, having been founded in 1935, but they have made a huge impact and seen significant growth in the past 80 years. They currently have over 335,000 members across the United States and have over $9.3 billion in assets. They have quickly become one of the largest credit unions in the U.S. Just by looking at the “About” page, you can tell a lot about the credit union and their business model. Alliant's “Service Mission” is to provide members with an opportunity to take control of their economic future, promote financial well-being among members and our community, and create a source of credit at a fair and reasonable rate of interest. All of those sound like excellent goals if you ask me.

Banking with Alliant

If you want options for your checking and savings account, Alliant has you covered. They have several different options for banking, I won't be detailing all of them, but I'll outline some of their most popular.

High-Rate Checking

The most notable account they have is their High-Rate Checking account. With this account, you won't pay any monthly maintenance fees, no minimum balance requirements, and no maximum balance limit. As an Alliant member, you'll have access to over 80,000 ATMs without having to pay a surcharge. What makes this account so special? Currently, it's their 0.65% APY. According to their website, this is 9.3x the national average (as of 1/18/2018). If you want a checking account which will make you a little extra money while it sits there, this is going to be one of your best options.

High-Rate Savings

One of the other popular options is Alliant's High-Rate Savings. Their savings account allows you to enjoy a 1.30% APY, as long as you have an average balance of $100 or more in the account. To open the account, you have to have a tiny $5 initial deposit, but Alliant will even pay it for you. Just like with their checking account, if you have a savings account, you'll be able to use their Alliant Mobile and Online banking. This allows you to deposit checks, transfer money, and much more.

Free Teen Checking

If you're a parent of a teenager, you know they are not the best when it comes to money. It's never too soon to start teaching them the importance of managing their money. Alliant can help. If your child is between the ages of 13 – 17, you can open them a Free Teen Checking account, and you'll have joint ownership of the account. There are no minimum balance or monthly fees for the account, and your child will get a free Visa debit card for the account (you'll get one with your name on it as well).

Borrowing with Alliant

One reason credit unions stand apart from a traditional bank is their loan rates, and Alliant is no different. If you're looking for a financial institution where you can not only stash your money but borrow some as well, Alliant should be close to the top of your list. For car loans, they have some excellent options (depending on your credit score). If you're buying a new car, you can snag a 2.49% APR. For a used car (10 – 15 years old), you can get a rate as low as 2.74%. Aside from car loans, they also do mortgages and personal loans. Some of the notable benefits of getting a mortgage with Alliant is you can get 0% for qualified first-time home buyers and 3% down for everyone else. There is no application fee or escrow waiver fee, and their origination fee can be as low as $995. Now, on to their loans. You can get a loan anywhere from $1,000 to $50,000 with rates as low as 12.15%. All of their personal loans are unsecured, meaning you don't have to put up any collateral.

Investing

I can't review a bank or credit union without including an investing section. Investing is not their main focus, but they do have a couple of products to be aware of. They have a low minimum deposit certifications, starting at $1,000 and larger certificates starting at $25,000. Their rates go as high as 2.30%, and dividends are compounded every month. They also have traditional, and Roth IRA accounts you can open. Their IRA accounts seem to be pretty comparable to other credit unions.

You can transfer money in or out of the Alliant IRA without paying any fees, and your dividends can automatically be reinvested.

If you're looking for some help with your investing, Alliant offers retirement and investment services at no cost or obligation. They can customize an investment plan for you and help you reach your retirement dreams.

Joining Alliant Credit Union

Every credit union has different requirements you have to meet in order to become a member. For most credit unions, the requirements are “live, work, or worship,” meaning you reside, work, or are apart of a group in the same town as the credit union. Luckily, Alliant has much more flexible requirements to become a member. In fact, their requirements are lenient enough for anyone to join. There are five different wants you can qualify to be a member:

1. You are an employee or retired employee of one of their partner businesses (which you can find on their website)
2. You are a family member of someone who is an Alliant member
3. You live in a community near Alliant's Chicago headquarters
4. You are apart of one of their qualifying organizations
5. Or, you can join the Foster Care to Success non-profit (for as little as $10).

Joining the credit union is quick and simple. You have to provide some basic information, and the whole process can be completed online.

Areas where Alliant Falls Behind

So far, I've looked at the places where Alliant shines, and there are several of them, but on the other side, there are a few places where Alliant doesn't make the grade. The obvious area is their branch location. Like most credit unions you won't have access to thousands of branches like you would with a big bank. In fact, unless you live in the Chicago area, you probably will never step foot in one of their 11 branches. They make it easy to handle all of your transactions online, but if you value face-to-face transactions, you should look somewhere else. Another one of those areas is their overdraft fees (kind of). For every transaction you make, and you don't have the money in the account, you'll be charged $25. There is no limit on how many times you can be charged overdraft fees. Alliant does offer overdraft protection, meaning they will transfer money from your savings account to pay for those transactions, but you will still pay a $3 fee. I can't personally speak to the quality of the customer service, but after reading dozens of reviews, a lot of their customers were not happy with the service they received. Every person is different and should expect to get different experiences from customer service, but you should be aware of the dozens of complaints in regards to their customer service.

My Final Verdict

Overall, Alliant Credit Union is an excellent option for anyone looking to open a checking account or savings account. They have excellent rates, no hidden fees, and they make it incredibly simple to open the account. If you're also looking for a place to secure a loan, they have some of the best rates out there. I can't tell you if they are the perfect option for you, because everyone is different, and each person has different preferences on their banking. If you want a bank which has excellent rates, check out Alliant, if you want plenty of branches you can walk into while you're traveling, don't even bother going to their website.

The post Alliant Credit Union Review appeared first on Good Financial Cents.

Source Good Financial Cents http://ift.tt/2DO9sAf

Wells Fargo Billing Glitch Reminds Us to Keep a Close Eye on Online Banking

In 2018 — a modern age of contactless payments, instant peer-to-peer money transfers and whatever we’re supposed to be doing with bitcoin — online banking still has a major hurdle to leap: glitches.

Some Wells Fargo customers discovered Jan. 17 that recent payments made through the bank’s online bill payment system had been deducted twice. For some of those customers, the double bills wiped out account balances and started the cycle of overdraft fees.

Wells Fargo’s Twitter account confirmed the issue and updated customers when it resolved the mistake. The bank blamed the glitch on an internal processing error and said it would resolve the problem without customers having to take action.

Capital One customers found themselves similarly confused shortly after the new year, when debit card transactions appeared multiple times on their online accounts. That issue was resolved quickly, but not before some customers feared their accounts had been hacked.

At best, these glitches are annoying for customers seeking up-to-the-minute information about their balances and billing activity. At worst, they can cause panic for people who maintain lower balances and are one internal processing error from overdrafting.

Online Banking Isn’t Broken. It’s Just Not Perfect Yet.

So if banks have a hard time making sure their online systems are working correctly, how can you, the ordinary user, be confident your accounts are squared away?

First, be sure to check regularly for updates to any banking and budgeting apps you use. Not only will this ensure that you see the latest and greatest features, but it will also protect you from malware or other threats the provider recently encountered.

Then, turn on as many alerts as you need to feel comfortable and aware. Setting an alert by text or email when your account balance dwindles to a certain amount may be enough to remind you to log in and take a peek at recent activity. Plus, it’ll help you avoid pesky overdraft fees.

But it may help to go one step further and receive an alert every time a payment is made using your debit card.

If you’re standing at the register and get a text as soon as you swipe your card to buy shampoo, you can rest easy knowing you set off the chain of events. If you’re curled up in front of the TV and start getting debit card purchase notifications right and left, well, then you’ll know right away there’s a problem.

Beyond using the tools and alerts your bank offers, you can’t rely completely on them to manage your money seamlessly. That’s why an old-school budget — maybe even on paper, if it makes you feel more accountable — can help you spot online banking issues ASAP. Your budget, whatever form it may take, should note any recurring expenses, anticipated dates for automatically debited bills and typical amounts for those bills.

Automation alone can’t guarantee a perfect banking experience, but technology combined with your own record keeping can get you close.

Lisa Rowan is a senior writer and producer at The Penny Hoarder.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

source The Penny Hoarder http://ift.tt/2FRAozn

The Top 10 Best Life Insurance Companies in the U.S. in 2018

Love to Cuddle? This $60-Per-Hour Job is Absolutely Perfect for You

A normal workday for Samantha Hess includes spooning, holding hands and snuggling with people she barely knows.

And she gets paid $60 an hour to do it.

This Portland-based entrepreneur started her business, Cuddle Up to Me,  in 2013 and has not only managed to build a steady client base, she’s become a bit of a worldwide sensation. The 30-year-old has been interviewed for print, radio and television media outlets across the country and globe, including CNN and USA Today, and even released a book earlier this year, Touch: The Power of Human Connection.

How did she do it? It all started with a broken marriage, a random article she found on the internet, a killer support system and a drive to succeed. You may not need that exact formula, but if you genuinely like people and want to make some extra cash — or explore a new full-time job opportunity — professional cuddling may be right for you, too.

The Inspiration for This Unusual Business

After Hess ended her marriage, she felt unfulfilled. She wasn’t ready to date but still yearned for touch and acceptance from another person, she says. One day during this bleak period, she came across an online article about a man who offers free hugs at a Saturday market. However, he was outdone by another man offering “deluxe hugs” for $2 a pop.

“I thought, how great would it be to have someone who would just hug me and make me feel loved, and not need anything from me emotionally?” Hess says. “Then I came across professional cuddler Jackie Samuel online and I knew I had found my dream job.”

How to Become a Professional Cuddler

When Hess began pursuing her full-time snuggling dreams last March, she had to make sure professional cuddling was indeed a legal, viable business. She even hired a lawyer to help her through the startup process, which also included developing a waiver to ensure her safety — a difficult task considering the cuddling industry is a relatively new, open landscape.

By June, she was ready to start taking client appointments, and Hess was marketing her cuddling services to everyone she met. She put flyers up around town and left business cards at local shops — anywhere she might find someone who needed a hug.

Within a month, local television, radio and print media took interest, but Hess really started feeling the love in October, when “The Oregonian” published a feature about her. Turns out, a lot of people wanted to snuggle with Hess — she received 10,000 emails that week.  

Her business took off, and a year later, Hess says her story has touched 17 million people around the world, including China, Brazil and Australia.

Why She Charges $60 an Hour

Before finding her true calling, Hess held a slew of less-than-fulfilling, customer service-type jobs. She also spent time as a personal trainer, a job she says commands about $60 an hour.

Based on that, her skills and the fact the most similar professional she could think of — a massage therapist — charges about the same, she decided folks would be happy to pay that rate to spoon. Plus, she liked the idea of marketing her services for only $1 a minute.

With that rate, it took Hess about seven months to find herself in the black.

So how much can she make? When she snuggles up to her max of five clients a day, Hess brings in $300, and she usually works five days a week. But her earning potential doesn’t end there. She plans to open a retail store later this year and teach a 40-hour certification course for aspiring cuddlers.

Who Wants Cuddles From a Stranger?

When Hess first started, she expected to dole out most of her hugs to lonely widowers. That hasn’t been the case. She has spooned with people of all ages and backgrounds, from CEOs to artists.

Most clients schedule four to five sessions, and she’s amazed by the emails she gets from those clients who want to thank her for helping them get through a difficult, otherwise hug-less time.

And for Hess, that’s what cuddling is all about.

“When someone has some sort of gap in their world that makes them feel incomplete, I get to help fill in that gap,” Hess says. “I get to build people up to give them the self-confidence to go after what they want in life.”

Making It as a Professional Cuddler

Interested in cuddling professionally? You’d better like people.

If you’re going to try this business, you have to offer unconditional love to everyone who signs your waiver. There’s no room for discrimination or judgment, Hess says. You’re there to build your clients up, to offer them comfort and the human touch they crave — in a mother/child, non-sexual kind of way.

You can’t be a control freak, either. Clients drive the sessions, whether they want to hold hands in the park, spoon on the couch in silence or chat about their problems as you snuggle in bed. Of course, you should develop a sign that alerts clients when they’re making you uncomfortable or if something inappropriate happens — for Hess it’s two taps.

Find Support of Your Own

If you’re ready to cuddle with strangers, Hess says you need a support system. Hers consists of family, friends and the folks she volunteers with at the local food bank. They give her encouragement and lift her up when she’s feeling weighed down.

Beyond that, believe in yourself and ignore those naysayers who don’t understand your dreams of full-time cuddling.

“You have to be so excited about it,” Hess says. “Know it. Just own it. If you’re not sure it’s going to work, it’s not going to work.”

 

Renee Knight is a freelance writer, editor and blogger based in Northern Virginia.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

source The Penny Hoarder http://ift.tt/2xSFeMt

5 Tips for College Students Who Are Freaking Out About Their Job Prospects

There is one question every college student dreads as graduation nears: “So, what are you going to do next?”

For a lot of people, moving on to the next step and joining the “real world” (no, not the reality show) is daunting.

It’s so daunting, in fact, that according to this survey, only a third of students feel confident they will graduate with the skills needed to succeed in the workforce. And on top of that, only 53% of the 32,000 students who were randomly surveyed think their chosen major will result in a good job.

The Strada-Gallup 2017 College Student Survey reveals a high level of worry among college students. So if you ever find yourself stressed to the max about your postgrad opportunities, you’re not alone.

5 Tips for Anyone Worried About How to Find a Job After College

Before you lose all faith in the higher education system, check out these tips on how to build your confidence in your degree.

1. Research Is Your Friend

Another study by Gallup and Strada Education Network shows that of the 90,000 adults interviewed, a whopping 51% would change at least one aspect of their education experience. This includes at least one of the following: their major, the institution they chose or the type of degree they obtained.

If you aren’t totally confident in your major or college, it will be more difficult to feel confident about using that degree after graduation. So give yourself a helping hand by doing your homework before making a decision regarding your education.

You can check out this College Board site if you want some help finding schools and majors that are a good fit for you.

When choosing your field of study, think about the future. What kind of careers will you get out of it? Consider choosing a major that has a high labor market demand.

And if you make a decision about a major but start to feel uncertain down the road, don’t be scared to make a change. When I started college, I was a marine biology major. Now here I am seven years later with a communications degree and no regrets.

2. Use Your School’s Career Services

The Strada-Gallup College Student Survey shows that 39% of current students have never visited their school’s career services office or used any of the online resources provided to them.

Don’t be part of that group!

The majority of college freshman, up to 86%, say that finding a good job is their main reason for enrolling in college. So if landing a sweet job is your No. 1 goal, it only makes sense that you use the career-oriented resources being offered to you. (And when someone is offering you a free service that can only help, I say take it.)

Your school’s career services center can be a gold mine of information. You can check out job and internship boards and seminars, or set up a meeting with a career counselor.

3. Seek Advice From the Faculty

Not only can you seek out formal counseling from your school’s career services, but you can simply talk to a professor about the realities of your major’s job possibilities.

Who better to ask than someone who is in the same field as you? Having a mentor in your chosen field means you can get real-life, specific answers.

On top of that, there’s a good chance you’ll have a professor you’re comfortable talking to, so it might be easier to ask them for help rather than going to see a counselor.

The 2017 College Student Survey shows that students who speak with faculty often about their career choices are much more confident about being successful in the workforce after graduation. Sixty percent of students who regularly speak with a staff member feel confident that their major will lead to a good job. Compare that to students who rarely or never talk to faculty about career options: Only 47% feel confident about their postgrad options.

4. Don’t Underestimate Extracurriculars

Yes, a big part of confidence in postgrad job prospects has to do with your chosen field of study. But that’s not the entire picture.

If you want to feel good about landing a job, you should do everything in your power to make yourself stand out. Choosing the right major and excelling in your chosen field aren’t always enough.

I know what you’re thinking: extracurriculars, really? That’s what you’ve got for me? But don’t scoff at me just yet.

Joining a club can benefit you in many ways when it comes to looking good to prospective employers. Maybe you joined a group in your freshman year and worked your way up the ranks over the years. This shows not only that you have commitment, but also leadership skills.

This National Association of Colleges and Employers survey says that over 80% of employers look for leadership qualities in candidates. On top of that, it found that participation in extracurriculars is one of the top attributes they value (more than a high GPA!).

Building skills outside of the ones you learn in the classroom will not only look awesome on your resume, but will give you more confidence in your ability snag a stellar job come graduation time.

5. Use Internships as Stepping Stones

While we’re on the topic of excelling outside of the classroom, let’s talk about internships.

You could get an A-plus in every one of your classes, but at the end of the day, experience is the wisest teacher. If you can list a strong internship on your resume, you are basically saying “I’ve not only studied this stuff, but I’ve DONE it.”

Getting hands-on experience in a subject will build your confidence and will also assure prospective employers that you can actually do everything you claim on your resume.

Not only can an internship build your skill level and pad your resume, but it can land you a job before you even graduate. If you rock as an intern, you could be offered a full-time job by the same company. Talk about taking the stress out of finding a job after graduation!

A Final Note on Finding a Job After Graduation

While being prepared is important, worrying endlessly about the future never helped anyone.

Some people will get job offers before they even graduate, and others will need a little extra time to find that dream job. (It took me two and a half years.)

If you find yourself with a degree and you’re struggling to land a job, don’t panic. Keep an open mind, and keep moving forward. In the meantime, look for some awesome freelance jobs or side gigs that you can add to your resume.

Kaitlyn Blount is a junior staff writer at The Penny Hoarder. She still loves marine life but is glad she changed her major.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

source The Penny Hoarder http://ift.tt/2rhAihn

Jargon busting: Do financial firms deliberately confuse customers?

Financial providers can leave you baffled by the complex language they use. We look at whether firms play by the rules.

The financial world can be a confusing place. With everyone from banks to insurers and estate agents to the taxman speaking in jargon, it can be difficult to know your LTVs (loan to values) from your VCTs (venture capital trusts).

• 40 financial terms you need to know

Should financial providers do more to ensure customers know exactly what they’re signing up to? Or do firms deliberately try to baffle customers by using confusing language?

Research conducted by insurer Aviva in February 2017 found that two in five (41%) people ignore information they receive from financial providers because they do not understand the language used.

This is equivalent to 21 million people in the UK, with 13% of these – 2.7 million – saying they have missed important changes to their financial accounts because they have ignored paperwork. But is this the fault of individuals or should financial providers do more to help customers understand product and money issues?

Lee Monks, spokesperson for the Plain English Campaign, says many financial organisations use too much jargon.

“Banks could do more to make their information clearer in general,” he argues. “The difficulty is turning that impenetrable stuff into something everyone can understand and engage with. I think the main problem is banks think ‘we understand it, so everyone does’.

Patrick Connolly, financial planner at adviser firm Chase de Vere, believes this is an industry-wide problem.

“There is a real danger that much of the information provided by financial institutions can leave consumers feeling confused, and this means they are less likely to be engaged with their finances,” he says.

“Part of the problem is the way that information is presented and the language which is used. Another key issue is that the level of financial literacy and competence in the UK is too low; many people don’t understand the basics of personal finance.”

Vested interests

While consumers should always try to understand the terms and conditions they’re signing up to, some believe that firms are wilfully keeping their customers in the dark to sell them products they don’t need.

Past mis-selling scandals are still fresh in the memory, and Mr Connolly says some firms are still not presenting facts to customers clearly enough. “In the past, some financial companies may have had a vested interest in their customers not understanding what was happening with their money and, more pertinently, how much they were paying in fees and commissions,” he says.

“This still happens today and it can sometimes be very difficult for consumers to fully understand how much they are paying and what they are getting in return. This is particularly the case where companies are selling their own investment or other products, which are often not the most competitive on the market.”

Mr Monks says many of the complaints received by the Plain English Campaign in the past suggested providers have tried to mislead customers, but he argues that most firms now play by the rules.

“The mis-selling of all kinds of banking products a few years ago certainly came across as a case of wilful deceit,” he argues. “That was the perception among those who contacted us.

“We know there may be occasions when banks are quite happy to leave their customers in the dark, but in the main it’s surely just a misapprehension of what can be understood by non-experts.”

Pension confusion

While people of all ages can be left scratching their heads, older people can be particularly vulnerable to confusing financial jargon Jane Vass, head of public policy at Age UK, says the move from face-to-face service towards the internet has disenfranchised many older people. “Most of us find financial jargon baffling from time to time, and older people are like any other consumers in this respect,” she says.

“However, it all gets even more difficult when you have to get to grips with a new financial product or system, such as contactless cards. We know that this continual change can be a particular problem for older people, who are used to managing their finances in a certain way, and many of whom are not confident internet users.”

Pensions are a particular area of concern, and people can often end up making life-changing financial decisions when they don’t understand their options.

Aviva’s research shows that while 43% of adults know that Lima is the capital of Peru and 26% can fully explain football’s offside rule, just 22% could describe what a defined contribution pension is – for the answer, read the Moneywise jargon buster.

Both Mr Monks and Mrs Vass agree that the pensions industry is one of the worst offenders when it comes to using excessive jargon.

“The pensions industry is riddled with difficult-to- understand language and product names that most people haven’t heard of, made worse by complex decision-making processes,” says Mrs Vass.

Mr Monks says pensions companies should invest in better training for their frontline staff.

“One of the key issues of late has been the problems people have had trying to understand their pension options and permutations. Staff need plain English training,” he says.

• Pensions rules explained

Improvement needed

The Association of British Insurers (ABI) trade body has introduced voluntary codes of practice to try and improve the quality of communication in the insurance industry. Mrs Vass would like similar schemes to be launched in other areas of financial services.

“This is something we fully support, and urge the Financial Conduct Authority (FCA) and government to do more to extend its usage,” she says.

“We also think that it is really important for firms to learn from their customers by thoroughly testing their communications with consumers.”

• 50 ways to make money

Mr Connolly says that the FCA has already made companies present their information more clearly, but this will always be balanced against the need to give the customer all the information they are legally required to.  

“There is a difficult balancing act in information being presented in a clear and transparent way, while at the same time including all of the necessary details such as any relevant risk warnings,” he says.

“The result is that financial companies sometimes have no choice but to include certain information and language which, while relevant, might not always be easy for people to understand.”

Help at hand

Independent financial advisers (IFAs) are best placed to help people with their finances, but at a cost.

An IFA will scour the market to find the best deal and will explain exactly what product you’re about to buy or invest in. But the average hourly fee for a financial adviser in the UK is a hefty £150, according to adviser-finding website Unbiased.

Fees can be even higher depending on the financial products you need advice on and the level of service provided.

However, Patrick Connolly, financial planner at Chase de Vere, says that by shunning financial advice, many people end up making bad, long-term financial decisions.

“More and more people are now making decisions without speaking with a financial adviser,” he says. “This is because many people cannot afford to pay for financial advice or believe they are capable of making their own financial decisions. However, if they get it wrong, they are likely to have nobody else to blame but themselves.”

To find an IFA in your local area, visit www. http://ift.tt/2FPILvt.

If you’re looking for free advice alternatives, ask your provider to break down any difficult banking terminology for you. Independent organisations worth turning to for free help and guidance include:

• Citizens Advice (Citizensadvice.org.uk, tel: 03454 04 05 06),
• Pension Wise (Pensionwise.gov.uk, tel: 0800 138 3944)
• The Pension Advisory Service (Pensionsadvisory service.org.uk, tel: 0300  123  1047).  MONEYWISE.CO.UK | FEBRUARY 2018 provided. 

Section

• Scams & rip-offs
• Consumer protection

Free Tag

• consumer rights
• banks
• pensions

Related stories

• 40 financial terms you need to know
• Pensions rules explained
• 50 ways to make money

Twitter

Source Moneywise http://ift.tt/2rfRrYY

Here’s What Happens When You Apply to Be a Mermaid for the State of Florida

‘I Don’t Want to Save! I Want to Live and Have Fun!’

The latter half of January each year brings a lot of people who are finding that it’s difficult to stick with a New Year’s resolution. Often, breaking a big resolution that you thought about a lot and tried to keep requires some internal justification. Why are you giving up on this big plan?

I see this effect occurring in the form of messages from readers, who typically write in with reasons for why they should give up on their big financial plans and seem to want me to approve of their change in direction. They’ll tell me that being financially responsible is adding a great deal of misery and even suffering to their lives. I’ll hear about how their lives are now devoid of all fun and pleasure. Some will ask if it’s okay to just go on a giant spending spree, as though I am responsible for giving permissions in their adult life; others will just tell me that any information I’ve shared about financial success is misleading or a lie or something.

Whenever I hear from someone who has made an effort to find a new financial direction but has found it to not be enjoyable, I point them to six key principles. Not all of these principles will ring true for everyone struggling with a better financial path, but at least some of these principles will hit home.

Here are six principles to think about when you’re finding that you want to “live” and “have fun” rather than be financially responsible.

Principle #1: Bad Feelings Usually Come from a Misstep, Not a Wrong Direction

Typically, when a person feels as though they need to “live” or “have fun,” it means that they’re resisting some of the changes they’ve made in their life. More specifically, they’ve made a spending cut or two or three that turns out to be a cut into something they really value, and because they miss whatever that handful of things are, they feel as though financial progress as a whole is flawed. Their view becomes centered around that little handful of lost things and they use that to drive themselves into a state of misery so that backlash is inevitable.

If you feel like financially responsible choices are making you miserable, rather than tossing the baby out with the bathwater, stop and consider what specifically is making you miserable. What exactly do you feel that you’re really missing out on? Make a list of those things that you have cut that are making you feel as though your life is miserable. Rank that list – think about which cuts sting the most.

Then… are you ready for this… undo the top two or three cuts on that list.

If you’re feeling like financial sacrifice is pure misery because you’ve given up that daily latte at the coffee shop next to work, bring back that daily latte at the coffee shop next to work.

If you’re feeling like your life is miserable because you said no to a couple of social invites in the last few weeks, stop saying no to so many invites.

These feelings are a perfect indication of how the perfect is the enemy of the good. If you make a ton of changes to your life in order to be “perfect” in terms of your financial choices, only to find that a few of those choices are making you miserable, go back on those few choices. Aim for “very good” rather than “perfect” and don’t cut the things that you truly value most.

While you’re doing this, of course, it’s always wise to keep looking around your life for unnecessary or excessive spending in other areas. You may find some areas where you’re needlessly spending money that push you back in the other direction at the same time, balancing out the restoration of the thing you cut that made you miserable.

Principle #2: Every Dollar Spent Represents Lost Opportunities

This is all about a concept called opportunity cost, which is defined by Wikipedia as “the value (not a benefit) of the choice of a best alternative cost while making a decision. A choice needs to be made between several mutually exclusive alternatives; assuming the best choice is made, it is the ‘cost’ incurred by not enjoying the benefit that would have been had by taking the second best available choice.”

In other words, whenever you spend a dollar, the hidden cost of it is that you’re losing the opportunity to do whatever the next best thing you could have done with that dollar is.

For example, a $20 meal and drink at Applebees means that there’s now $20 you don’t have for going to a movie with your friends. Spending $15 on a book instead of checking it out from the library means that you have $15 less to save for a car down payment.

Is the way I’m choosing to spend my money right now that much better than the other things I could be doing with that money? Because, like it or not, spending that money comes with the cost of shutting the door on that other opportunity. If I spend $50 of my hobby budget on a new board game, I’ve shut myself off from quite a few other hobby experiences and items. Is that worth it?

This alone isn’t a great persuasive argument, but is foundational for the other ones to make sense. A lot of smart personal finance relies on the idea of an opportunity cost.

Principle #3: Not Having a Strong Financial Foundation Adds Stress to Everyday Decisions

Over time, financial missteps and unexpected events and big upcoming expenses can add up to a ton of stress.

It is stressful to not have enough money to pay the bills. It is stressful to be facing retirement without adequate savings. It is stressful to face a life emergency without having money in the bank.

The stress of not having enough money is an “opportunity cost” associated with spending money freely. When you spend money on “fun,” part of the cost of that “fun” is the stress that comes from not having money when you really need it.

For example, you might buy a $20 dinner at Applebees, but when you spend that $20 on something relatively unimportant, you’re also buying stress down the road. That’s part of the opportunity cost of that meal.

I like to think of it this way: whenever I put money aside for the future, whether it’s in an emergency fund or in a car savings fund or in retirement savings, I view it as actually buying a reduced sense of stress in my life. What I’m paying for is not having to worry. What I’m paying for is knowing that when things go bad in my life, I have the resources to just handle it, which means I’m not worrying at night about that funny noise the car is making and I’m not completely freaking out if my car gets damaged in a hailstorm or if my transmission fails.

All of that stress just vanishes if I have money in the bank, so, in essence, that’s part of what I’m buying when I save for the future. I’m buying stress reduction along with (eventually) buying a transmission and also avoiding interest payments that would come with having to buy a transmission in an emergency. (Of course, a transmission is just an example here – it could be almost anything you need in the future.)

Principle #4: The Vast Majority of Short-Term Pleasures Fade Quickly Into Nothingness

Can you remember what you did for fun a month ago? What about a year ago?

I know that I went out to eat at least once in the last month or so, but I honestly don’t remember the meal or where we even ate. I know at some point in the last few weeks, I picked up a breakfast burrito because I was really hungry and driving somewhere. I can’t really remember if it was good or not or even for sure where I bought it. Were those choices really an effective use of my money? No, not really. They’re just forgotten, money that just floated out of my fingers.

I often find things that I’ve purchased in the past, barely used or not used at all. Sometimes, I don’t even remember buying them. Did I get this as a gift? Did I buy this at some point? I really can’t remember at all.

Sometimes, I’ll look through credit card receipts and find little expenses, like $6 spent at a gas station or $10 spent at Target, and I literally don’t remember what I spent that money on. What did I even buy? Why? It was some momentary pleasure that was forgotten almost as soon as I spent the money.

Many pleasures slip right through our fingers – entertainment products we don’t use, forgettable movies, an expensive latte that we gulp down and forget, overpriced meals gobbled down in a hurry, dinners at mediocre forgettable restaurants, and so on. We spend money on something that’s pleasurable in the moment, but we almost completely forget about it within days.

Yet, we continue to pay the opportunity cost for those expenses. Since we have less money put aside for the future, we’re more prone to worry and stress about unexpected expenses and about retirement – and what if one of those bad events actually happens? Furthermore, we’re not making much progress toward our positive goals, either – there’s less saved for that dream vacation, for example.

That stress and worry persists. Is it really worth having that momentary pleasure, the thing you forget practically as soon as it’s bought or consumed, when it causes that continuation of stress and worry and that distance between where you are and where you want to be?

Most of those forgettable pleasures really don’t have a lot of upside outside of the next few minutes. Make sure they’re really worth it.

Principle #5: ‘Living’ and ‘Having Fun’ Are Not Predicated on Spending Money

What exactly does a person mean when they talk about “living” and “having fun”? Is it really just spending money? Is spending money the primary source of “living” and “having fun”?

If the only way to “live” and “have fun” is to shell out cash, you’re locking out a lot of opportunities in your life.

Try to seek out things that you consider to be “living” and “having fun” that don’t involve spending money. I have a long list of things I enjoy doing that don’t involve spending money and that’s what I tap for my own leisure time.

Here are 10 of those things:
– I enjoy reading books I’ve checked out from the library.
– I enjoy hiking in the parks and wooded areas near my home.
– I enjoy going to a community board game night in my area.
– I enjoy making food at home, particularly fermented foods like sauerkraut and homemade items like pasta.
– I enjoy having potluck dinner parties at my house.
– I enjoy looking at the community calendar and doing something pretty much at random in my community.
– I enjoy doing exercises in my living room.
– I enjoy working on lettering and calligraphy.
– I enjoy gardening.
– I enjoy learning about new topics from Wikipedia or from free online classes.

Come up with your own list. If you have a repertoire of things to draw from that are enjoyable and free, it becomes a lot easier to find something to do at any given moment.

Of course, this doesn’t mean that every fun thing that involves spending money is now off limits – that’s an absolutist black-and-white view that people use as an excuse to avoid self reflection. It’s simply a reminder that things that are all about “living” and “having fun” that are also free do not come with a stressful opportunity cost. If you make an effort to identify things that are low cost and free that equate to “living” and “having fun,” then you drastically reduce the long term stress in your life.

Principle #6: Every Decision You Make Is Shared By Your Future Self

The decisions I make today aren’t just about me in the here and now. They’re also about the person that I’m going to be in the future.

Your future self is a stakeholder in every decision that you make. You are making choices always on your future self’s behalf, from how you spend money to what you put in your body to who you spend time with to what things you read and learn about.

Consciously recognizing your future self as a part of every decision you make, along with a recognition that it’s often a good idea to make a choice that really benefits “future you,” is a great way to approach the whole idea.

For example, let’s say I’ve got a friend coming to town and he wants to go out and eat somewhere for lunch – “nothing fancy,” he says. I remember the type of foods that he likes – Mexican and spicy. I look at the places nearby to choose from. One I exclude because it’s rather expensive and about as “fancy” as one can get in that particular niche. However, I also eliminate another because they serve fairly greasy food. I end up choosing a low cost place that’s known for their spicy rice. When we get there, I end up ordering their daily special, which is reasonably priced and seems pretty healthy, and I focus instead on the conversation with my friend.

With almost all of those decisions, my future self is a big part of the decision making process. I’m choosing a reasonably priced place. I’m avoiding a very unhealthy place. I choose a reasonably priced and reasonably healthy dish. I focus on my friend and building up that relationship rather than the food.

None of those things are preventing me from having fun in the moment, but every decision is one that’s better for my long term self. I’m making lower cost and healthier choices. I’m focusing on building a relationship instead of momentary pleasure. My pleasure today is perfectly fine, but my future self is happy, too. I’m not sacrificing my future self just to get a tiny bit higher today, especially since that “tiny bit higher” is likely to be forgotten.

Just keep your future self in mind when you make decisions. What choice could you make today that will have the best impact for you five or ten years down he road? Give that choice a little extra weight.

Final Thoughts

“Living” and “having fun” are great, but they begin to fail you when you ignore the cost of some avenues of “living” and “having fun.” The best avenues I’ve found for “living” and “having fun” are ones that come without those costs, or that minimize those costs.

Yes, there are absolutely times when the fun choice in the moment is the right call, but putting in the time to recognize that the most benefit sometimes comes from the choice that isn’t the most pure fun in the moment is a powerful step on the road to a better life.

Good luck!

Related Articles: 

• There’s a Line Between Frugality and Deprivation
• ‘You Shouldn’t Go Through Life Worrying About Money, It’s Not Healthy’
• Finding the Motivation to Change
• Personal Finance and Life Contentment

The post ‘I Don’t Want to Save! I Want to Live and Have Fun!’ appeared first on The Simple Dollar.

Source The Simple Dollar http://ift.tt/2mTCgQj

Dow 26,000 and Apple's $350B Pledge Just Latest Examples of Trump Boom

Stocks have had a huge move upward since Donald Trump's election, closing above 26,000 for the first time Wednesday.

Source CBNNews.com http://ift.tt/2Du0YAA

Buying a New Car? Use These 4 Trade-In Tips to Max Out Your Car’s Value

Four Money Basics My Mother Couldn’t Teach Me – Because She Didn’t Know Them Herself

When I have questions about money, I just Google the answer. My Mint app tracks my budget, Digit stashes money away for me automatically, Wealthfront invests some money for me here and there, and I can check websites like The Simple Dollar to figure out what an IRA is and how I’m supposed to get one started.

My mother, meanwhile, had no such guidance when it came to money. She was about my age now when our family immigrated to the United States from the former Soviet Union. Although it was only a 10-hour plane ride to JFK in New York, when we landed, my mother said it felt like a different universe.

She suddenly found herself in one of the biggest, brightest cities in the world, with limited English, a hysterical child to consider (that would be me), and a new life to navigate.

For the first few years while we were figuring things out, my family shared a studio apartment. I sat outside my mother’s English classes because we couldn’t afford childcare – I had only ever heard of “babysitters” on TV. Despite having a college degree, my mother picked up shifts cleaning houses so we could make ends meet. Forget Google or budgeting apps; she’d never even seen a credit card in real life.

Stories like this one are pretty common — immigrants make up nearly 14% of the U.S. population — that’s 42 million people who are likely unfamiliar with the nuances of American personal finance.

And the largest cohort of immigrants are millennials, a group that’s dealing with their own financial issues. Carrying an average student loan debt of $17,000 and earning 20% less than previous generations did in young adulthood, many millennials are struggling to navigate the realm of money management regardless of whether they were born here.

Moreover, only five states in the U.S. require high school students to take a personal finance course, making it all but certain that financial basics remain completely foreign to those of us who may not come from money-savvy homes, even in the technological age.

I recently had a long conversation with my mother about the lessons she had to learn — often the hard way — when it came to her finances. So many of the things she struggled with were the same ones I still experience confusion over myself. What surprised me, however, was that many of my friends and peers of different backgrounds are also finding difficulty understanding these four basic money matters:

How to Pay for College

My mother told me her biggest money regret was not saving adequately for me to go to college. Having come from a communist country that didn’t charge for education, she was completely overwhelmed by the loans, percentages, and repayment terms associated with higher education in the U.S.

She had never even heard of CDs or high-yield savings accounts, much less 529 plans. As a result, my first time hearing about all of this was after college, when I started interning at The Simple Dollar. I felt so overwhelmed by the number of entirely foreign concepts and terms that I spent my first weekend reading dozens of articles and trying to make sense of them. When applying to graduate schools, the mere thought of paying for the programs made my head spin.

Even now, as a completely fluent English speaker with more experience in finance, I still wasn’t sure how to properly fill out a FAFSA. Turns out, I wasn’t alone — 18.9% of U.S. citizens and permanent residents who didn’t submit the FAFSA say it was because the forms were too much work. That’s one in five people who may not receive the financial aid they’re qualified for simply due to the complexity of the process.

• Related: How to Choose the Right 529 Plan to Save for College

Credit Cards

When it came to credit cards, my family didn’t understand how, or why, they would be allowed to spend money they didn’t have.

My mother thought her credit card limit was supposed to be the money she had in her bank account, and was worried that the credit card companies had made a mistake. My grandmother kept asking, “But why did they give me money? That’s not my money.”

To this day, my grandparents cannot bring themselves to use credit cards without being afraid that they’re doing something wrong and will have to pay more later. Needless to say, this lack of understanding with our credit system can create tremendous problems.

While we were fortunate enough to exercise extreme caution, it very well could have gone the other way. A whopping 38.1% of U.S. households reported having credit card debt in 2015, and although credit scores are available with most major card providers, the terminology is often technical and confusing.

I have had countless conversations with friends who have zero clue about how to open a credit card account or make their spending work for them. Most of my friends rely on their checking accounts exclusively, or opt for a card with the lowest interest rate, thinking that things like points and rewards are a scam. They aren’t, of course, and with the right amount of planning and discipline, credit cards can be a very helpful tool in budgeting and saving money.

• Related: Eight Tips to Make Credit Cards Work For You, Not Against You

Saving Money

The biggest financial culture shock my mother recalled was the way her income was appropriated. In the former USSR, ‘renting’ an apartment and paying for things like utilities was unheard of. Rather, the bulk of her paycheck would go toward food and personal items like clothing.

In the U.S., when she found herself struggling to have money left over after paying for rent (granted, we lived in New York City), she had to completely restructure her spending habits.

One thing I distinctly remember about growing up in an immigrant community was the lack of ownership. I didn’t know anyone with a house or a car they owned, and my mother to this day has never purchased property. Instead, there was a stronger focus on material status symbols – grooming, clothing, and organic food were prioritized over long-term savings.

I notice the same thing happening with my millennial peers. Rather than save for a house, which would take years and produce no immediate gratification, we choose to spend our money on Lululemon, Starbucks, and going out (guilty).

• Related: 10 Ways Millennials Are Able to Save Money

Retirement

In the USSR, the elderly lived exclusively on pensions that were provided by the government. Expenses in old age, such as assisted living or costs associated with funerals, were nonexistent. As such, I’m a little embarrassed to admit that I only learned what a 401(k) and IRA were recently, when I was filing taxes on my own for the first time.

I mistakenly thought retirement savings was something automatically taken out of my paycheck, and therefore didn’t realize that I needed to be actively saving for it myself. My grandparents are still living on Social Security – which, if no changes are made, could very well be depleted by the time my generation comes to depend on it in retirement.

According to a survey by the Insured Retirement Institute and the Center for Generational Kinetics, 70% of millennials projected they would spend less than $36,000 per year in retirement, a figure that’s entirely unrealistic considering the average annual spending in 2013 was $46,000. Not only that, 15% believed that winning the lottery was an adequate strategy for retirement. This ludicrous notion points to just a few of the many misconceptions young people have when it comes to their future.

• Related: The $15 Retirement Plan

Final Thoughts

Coming to America was one of the hardest things my mother ever had to do. She was young, with limited resources, and needed to navigate a completely new environment and economy.

Unfortunately, many young Americans are experiencing similar difficulties navigating our financial system, despite having been raised in the U.S. Rather than dismiss millennials for being wasteful or entitled, it’s important to help build a better understanding of basic personal finance.

Related Articles: 

• 60 Simple Rules of Personal Finance
• Handling the Extra Challenges of Escaping the Poverty Trap
• Eight Ideas for the 78% of Americans Living Paycheck-to-Paycheck

The post Four Money Basics My Mother Couldn’t Teach Me – Because She Didn’t Know Them Herself appeared first on The Simple Dollar.

Source The Simple Dollar http://ift.tt/2DKqqzi

5 Grocery Delivery Options Worth the Price Because They Make Life Easier