Friday, April 26

Reverse Mortgages—What Are the Pros, Cons, and Cautions?

If you listen to the TV pitchmen, you would think that a reverse mortgage is every older homeowner’s dream. Advertising claims appear to promise a risk-free, low-cost way to get easy cash from your home without endangering your home ownership. Some even imply you won’t be increasing debt.

Such advertising is simplistic and deceptive. In actuality, a reverse mortgage is a complex product. Most important, it is a loan, a fact often glossed over in the ads. A reverse mortgage may be right in certain situations, but you need to take time to understand the options and costs as well as potential benefits and risks. Comparing loan offers and finding the best lender are also challenges.

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Are You Protecting Your Personal Financial Information?

Six Steps to Better Security

It seems that a big data breach hits the news every week. It’s alarming to hear that criminal hackers stole usernames and passwords, payment information, or social security numbers and other personal information. Such events alarm us because they seem beyond our control. However, most identity theft and theft of financial information occur because victims didn’t take simple steps to protect their personal and financial information. In this report, I give you six simple steps that can help you achieve better security.

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Prepaid Debit Cards—What are the Pros, Cons and Alternatives?

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Prepaid debit cards are the fastest growing segment of the payments industry. Retail purchases made with prepaid debit cards have gone from $77 billion in 2012 to over $200 billion in 2014. They are used by people who don't have bank accounts as well as those that do.

Many consumers see the cards as a convenient way to use "plastic" for regular spending without a traditional checking account debit card’s potential risk of exposure of funds to fraud. However, prepaid debit cards also have significant drawbacks—they are typically loaded with fees and do not have the protection of consumer laws that apply to traditional checking account debit cards and credit cards. This brief summary of pros, cons, and possible alternatives can help you decide what’s right for you.

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Managing Finances Online?—Have You Put These Benefits to Work?

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Managing your financial accounts online is convenient, time-saving, flexible, and secure. Many financial institutions offer online and mobile services that can help you keep close track of your accounts and transactions, pay bills easily, and manage your money on the go. These services are typically free for account holders. Let’s take a brief look at the benefits.

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Three Keys to Managing Your Money—Do You Use Them?

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What are your financial goals? Longer-term goals may include buying a home, saving for your children's college education, or planning and investing for a retirement free of money worries. In the shorter-term maybe you'd like to buy a new car or plan toward a dream vacation. Managing your money wisely can help you reach your goals. Three powerful strategies form the foundation for success: 1) building a budget, 2) controlling your credit, and 3) setting up savings plans to grow your money. This report outlines how you can put these strategies to work.

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Financing Home Improvements

Have You Considered These Good Options?

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Are you considering making improvements to your home? If you are looking for financing for those improvements, you will want to compare options from several financial institutions such as a bank and a credit union.

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