Money Matters: Credit vs. Debit @757

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(Kristen) Welcome to Money Matters at 757 with Justin Chastain. And, Justin, we are looking at the difference today between credit and debit cards. So, we have both in our wallet. What’s the difference?

(Justin) Well, the major difference is a credit card is going to be based off your credit score and credit report, and they’re going to give you a credit limit. Your debit card is going to be based off of the amount you have in your checking ...

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Money Matters: Emergency Savings @757

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(Kristen) Welcome to Money Matters at 757 with Justin Chastain, and, Justin, today we are talking about preparing for the unexpected. So, how do we get started? There’s a lot of unexpected right?

(Justin) That’s life right? But the biggest key is to start small. You do not have to worry about having all of your goals or your emergency fund funded the next day. You know, again, if you start with baby steps, have trusted advisors, and make it fun, ...

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Money Matters: Social Security Scams @757

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(Kristen) Welcome to Money Matters at 757 with Justin Chastain, and, Justin, today, we are talking about Social Security scams. So, this is something a lot of people deal with. We want to know what should we do or not do to protect ourselves.

(Justin) That’s exactly right, and they’re on the rise. Just in this unique situation we’ve been in, you know, the two biggest industries that are being hacked and scammed right now are health care, so hospital systems, ...

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Money Matters: Identity Theft @757

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(Kristen) Welcome to Money Matters at 757 with Justin Chastain, and, Justin, today we’re talking about a scary topic: identity theft. So, what do we do if we are a victim?

(Justin) So, again, it is a scary topic. Seven out of ten Americans are going to be a victim, but there’s essentially three easy steps you can take.

  • One: Contact your primary financial institution so you can just let them know what’s going on.
  • Number two: Contact all three credit bureaus, and ...
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Money Matters: Compounding Interest @757

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(Kristen) Welcome to Money Matters at 757 with Justin Chastain, and, Justin, today we are talking about how to make our money work for us. That’s something we all want, so can you give us a good example?

(Justin) Yes, so, exactly. So, the biggest thing you can do with your money is have it compound. So, that means giving your money more time, and you do not need to start out with a lot of money originally. You just don’t. ...

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Money Matters: Taxing Social Security

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Hey, did you know that you might have to pay income tax on your Social Security benefits?

Not everyone does, but if you continue to work past retirement age, as many people do these days, your tax liability will be based on your salary, plus tax-free income, plus one-half of your Social Security benefits. This could result in a portion of your benefits being taxed.

The tax rate will vary depending on your total income. The lower the income, the lower the ...

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Money Matters: Missing a Mortgage Payment

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Hey! If you’re worried about missing a mortgage payment, here are four options to consider that will save you time and money down the road.

Option 1: Contact your lender and let them know about your financial hardship. They may work with you to minimize overall financial losses and difficulties.

Option 2: A loan modification is when the lender and borrower agree to permanent new loan terms.

Option 3: In a forbearance agreement, monthly payments are temporarily suspended or reduced. Expect to pay ...

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Money Matters: Secure Mobile Banking

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Hey! Interested in the convenience of mobile banking, but worried about security? Here are 5 tips to keep your money safe.

  1. Use a unique password, and keep it secret.
  2. Check your connection. Website addresses that start with “https://“ indicate you are on a secure site.
  3. If someone contacts you and claims to work for your bank, contact your bank directly to verify the person is actually a representative.
  4. Regularly monitor your accounts and transactions so that you can spot and report fraud to your ...
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Money Matters: Four C’s of Home Loans

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Hey! Today, let’s talk about the 4 C’s of home loans, the factors that lenders consider before making a home loan.

The 4 C’s of loan and credit are: capacity, capital, credit and collateral.

Capacity is your present and future payment obligations, as well as your debt to income ratio. Capital is the value of your assets, including cash, savings, investments, property, and other things that you could sell for cash. Credit is how responsibly you have paid bills or debts in ...

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Money Matters: Small Changes

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Hey! Did you know that a cup of coffee and a bag lunch can change your life?

Throughout the day, we think about the things we want: a Frappuccino from Starbucks. A new car. A trip to Hawaii.

Fact is, giving up the small things can help you get the big ones. For example, packing a lunch instead of eating out every day could save $50-$60 per week, or $200 a month, or $1200 to $1500 per year! Make your own coffee ...

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