Money Matters: Mobile Banking Security @757

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TRANSCRIPT

(Kristen) Welcome to Money Matters at 757 with Justin Chastain, and, Justin, let’s talk mobile banking. So, what are some of the big benefits of this now?

(Justin) So, number one: convenience. Anywhere your mobile phone goes, which it seems like everywhere, which it’s a little odd because I think our mobile phones do everything except talk.

Number two: security. It’s going to give you additional benefits for security as you’re walking through your financial wellness portfolios in there as well.

And, thirdly, ...

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Money Matters: How to Protect Your Identity

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Hey! Identity theft is real. Everyone is a target. Here are four tips to help you keep your money and identity safe.

Number 1: Protect your phone with a password, and keep your passwords in a secure place.

Number 2: Shred all sensitive documents, including bank statements. Make sure that receipts don’t include your full credit card number, and if they do, dispose of them properly. Before you shred those documents, always check your billing statements for suspicious charges.

Number 3: Don’t give ...

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Money Matters: Auto Loans

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Hey! If you’re looking at buying a new car, here are some things to know about auto loans.

Auto loans are financed through banks, credit unions, and non-bank automobile manufacturer financing units. Often, you’re offered installment loans that last between two and eight years. Usually, you’re asked to make a down payment, which will help reduce your monthly payments. 

Auto loans can have different interest rates. Fixed-rate loans can mean that the rate will stay the same for the entire life of ...

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Money Matters: Assessing Homebuyer Readiness

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Hey! If you’ve weighed the pros and cons of owning a home, an important next step is to evaluate your personal and financial readiness. Here are six questions to ask yourself before buying a home:

Question 1: Do I have a regular source of income?
Question 2: Has my income been stable for at least two years?
Question 3: What is my credit score?
Question 4: Do I have a good history of paying bills on time?
Question 5: Will I ...

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Money Matters: Responding to Identity Theft

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Hey! 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 ...

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Money Matters: 529 Plans

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Hey! Did you know that 529 Plans can help cover your higher education costs?

529 Plans are savings plans sponsored by states, state agencies, or educational institutions. They help manage savings for the long term, can offer tax benefits, and generally provide a variety of investment options.

The choice to open a 529 plan involves making an investment decision to set aside a small amount of money each month to be used for college expenses. What happens if your child doesn’t go ...

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Money Matters: Social Security Protection

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Hey! Do you know how to protect your Social Security number?

Social Security numbers are a common target for identity theft phishing scams. One way thieves pull this scam is by pretending to be a representative from the bank.

These numbers are, essentially, your identity. They’re used to open financial accounts, borrow money, apply for jobs, apply for a place to rent — pretty much any important financial decision.

To keep your Social Security number safe, avoid giving the number to anyone over ...

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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 $500 every month for five years at 10% interest rate that compounds annually. In five years, you will have around $38,000. In 15 years, ...

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Money Matters: Retirement 101

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Hey! No matter how old you are, every day brings you closer to retirement. It’s never too soon to plan. Here are three steps to help you with your retirement strategy.

Step 1: Set your goals. Decide when you want to retire and how much money you will need by estimating the monthly expenses you’ll have down the road.

Step 2: Develop your strategy. Open a retirement savings account or accounts. Talk to an advisor to help you decide how to invest ...

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Money Matters: Checking Accounts @757

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TRANSCRIPT

(Kristen) Welcome to Money Matters at 757 with Justin Chastain. And Justin, there’s a lot of ways to pay the bills these days, so is it still important to know how to use checks as an option?

(Justin) It is because certain vendors still require a paper trail, and checks do provide that. But I do highly recommend, you know, in order to have checks, you have to have a checking account. This is a great way to receive direct deposits, ...

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