Financial Wellness Network Money Matters: ID Theft

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If you think your identity has been stolen, here are five important steps to take:

Step One: Contact your financial institution to review and possibly remove any fraudulent charges.

Step Two: Contact one of the credit reporting companies to report that you have been a victim of identity theft, and request a fraud alert or credit freeze to your account.

Step Three: Request other credit reports. Victims of identity theft are entitled to credit reports from each of the major credit reporting companies.

Step ...

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Financial Wellness Network Money Matters: 50-30-20

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Do you know about the 50-30-20 rule of budgeting?

This rule is an easy way to evaluate how much you should be spending on a monthly basis by recommending that you spend 50% of your income on needs, 30% on wants, and 20% on savings and debts.

For example, let’s say you make $1,000 in a month.

Fifty percent of that is $500, and you’d put it toward something like your rent or mortgage, groceries, and utilities.

Thirty percent would be $300 for wants, ...

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Financial Wellness Network Money Matters: Compounding Interest

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Hey! Do you know how to make your money work for you, simply by using the power of time?

Compounding interest is, essentially, interest on interest. Interest accumulates on what you put in as well as any interest that came before. It adds up faster than you might think.

For example, say you start with $10,000 and contribute another $500 every month for five years at a 5% interest rate that compounds annually. In five years, you will have around $38,000. In ...

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Money Matters: Tight Budget @757

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TRANSCRIPT

(Kristen) Welcome to Money Matters at 7:57 with Justin Chastain. And, Justin, for those out there who are trying to cut back this year, what are some ways to really save money on a tight budget?

(Justin) Don’t take yourself too seriously. So, I always tell people it’s not about cutting things out or giving things up. It’s what are you adding value towards? So, when you’re looking at your value-based budgeting, make sure if you don’t value something in your ...

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Money Matters: How to Research Stocks @757

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TRANSCRIPT

(Kristen) Welcome to Money Matters at 7:57 with Justin Chastain. And, Justin, okay, help us out today. So, we all may want to know some tips on how to research stocks.

(Justin) I think everybody does, right? And even Warren Buffett says, “I’ll never give you advice on a basic stock,” or a tip, but some basic things to do as you’re out looking around. Number one, go to websites like NerdWallet, Investopedia. Those are really good resources, too, to really talk more ...

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Money Matters: Financial Checklists @757

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TRANSCRIPT

(Kristen) Welcome to Money Matters at 7:57 with Justin Chastain. And, Justin, today, how about we make a list? Does that sound good?

(Justin) Well, unless you’re Santa Claus or you work for the DMV or the government officials, I don’t know. But I do think checklists are important, especially when you’re talking about your finances.

(Kristen) Yeah, so let’s talk about the financial checklist. So, how can it really help us, like, stay on budget this year?

(Justin) Because if you take ...

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Money Matters: Budget Goals @757

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(Kristen) Welcome to Money Matters at 7:57 with Justin Chastain. And, Justin, budgeting – not always an easy task for most of us, but what are some good goals to set for a budget? We all do that, you know – New Year goals.

(Justin) You know, when I think of goals, I think of pandas. Now, you’re like, OK, now what? Bamboo? They need to be strong but flexible, and they don’t need to be anything that’s not realistic or valuable to you. ...

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Money Matters: Basics of Investing @757

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(Kristen) Welcome to Money Matters at 7:57 with Justin Chastain. So, Justin, let’s talk stocks. What advice do you really have for people out there who are really just starting to invest?

(Justin) Well, it really just depends if you want chicken or beef. Wrong stock, right? I would tell anybody before you ever start researching stocks or bonds, you need to do three simple things. Number one, create an emergency fund. Have liquidity – three to six months’ worth of ...

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Money Matters: Bad Money Habits @757

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(Kristen) All right. Welcome to Money Matters at 7:57 with Justin Chastain. So, Justin, help us be a little good this year. We’re trying out there, right? What are some tips to help recognize that we may actually have some really bad money habits?

(Justin) Well, you’re asking the wrong person. I got coal in my stocking this year, so, no, it is. It’s easy to follow into developing just habits. And you said it. It’s not about achieving goals or ...

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Money Matters: Travel Insurance @757

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(Kristen) Welcome to Money Matters at 7:57 with Justin Chastain. And, Justin, today I want to talk to you about something that a lot of people have questions about: travel insurance. I mean, we’re all getting out there again. So, what is it all about?

(Justin) Travel insurance is something that’s always good to have as we are getting out and traveling more. Now, I know what you’re thinking: More insurance, really? But, yeah, because, you know, as we’re traveling more ...

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