Money Matters: Marital Social Security @757

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(Kristen) Welcome to Money Matters at 757 with Justin Chastain. And, Justin, today we are talking about social security. Does your marital status actually have an impact on your Social Security benefits?

(Justin) It can, for sure.

(Kristen) Okay.

(Justin) Because if you are married, essentially you can take the greater amount if you earn more, and half of your spouse’s. You can draw half of theirs, even if you become divorced, if that marriage lasted ten years or more. Now I’m not ...

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Money Matters: Business Credit Cards @757

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(Kristen) Welcome to Money Matters at 757 with Justin Chastain. And, Justin, what should business owners really keep in mind when they are applying for a small business credit card?

(Justin) So, the main things they want to think about is what are they going to use the credit card for, and are they established in the business to where they can apply, or do they have enough credit to set up to where the business can structurally support funding a ...

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Money Matters: Business Financing @757

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(Kristen) Welcome to Money Matters at 757 with Justin Chastain. And, Justin, it’s time to talk to us about funding a business. So, what are the options?

(Justin) So, you have several options. One would be using debt, the other using equity. 

Debt is going to be where you go to your financial institution and request a loan or a line of credit. Equity would be reaching out to friends or partners or investors to invest in your business. 

(Kristen) Yeah, and I ...

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Money Matters: Saving for Retirement @757

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(Kristen) Welcome to Money Matters at 757 with Justin Chastain. And Justin, none of us are getting any younger. Not saying anything about age, I am the older one here – but when should we start saving, and how much of it should we be saving?

(Justin) As soon as possible, and I would say it’s all based – everybody always gives you these numbers. Experts and advisors, right? But it should be based on what you can do. Start small, ...

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Money Matters: Retirement plans @757

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(Kristen) Welcome to Money Matters at 757 with Justin Chastain. And, Justin, there are a lot of options for retirement savings out there, but what are these “qualified” retirement plans?

(Justin) So, qualified retirement plans mean that they are qualified for tax benefits. These are going to be things like a 401k plan at your work, or, if you work for a nonprofit, they’ll call it a 403B plan.

(Kristen) Okay, so that is the question because there are so many letters ...

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Money Matters: Mobile Banking Security @757

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(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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