Nowadays, we are increasingly reliant on technology to take care of our financial needs. Between online bill payments, ATMs, and direct deposit services, it’s often necessary to have a debit card in addition to cash.

However, an estimated 10 million households in the United States don’t have access to a bank account, which can make these basic financial transactions inconvenient and even impossible. Luckily, prepaid debit cards offer a solution for the many Americans without bank access. By loading money onto these prepaid cards, users can make online payments, have paychecks or benefits deposited directly into an account, and withdraw cash from ATMs on the go.

If you’re considering a prepaid debit card, here are a few essential facts to keep in mind:

• Approval is easy: Approval requirements vary depending on the type of prepaid debit card you choose, but they all have one thing in common—it’s very easy to get approved. Applicants with good credit, bad credit, or no credit can all easily obtain a prepaid card. 

• They are not credit cards: Because the money on a prepaid debit card isn’t borrowed, these cards don’t come with a credit limit, and users can spend only up to the amount that they’ve put on the card. Most prepaid debit cards won’t allow users to overdraw, so if you’re using a prepaid card, make sure you have sufficient funds to cover your purchases. 

• No interest, no payments: You won’t pay any interest on purchases made with a prepaid debit card. Instead, you may notice a small flat-rate fee for depositing money onto the card or for withdrawing cash. Prepaid cards also don’t require a monthly scheduled payment, so you’re free to add money and make purchases on your own schedule. 

• They’re accepted (almost) anywhere: With a prepaid debit card, you’ll find making purchases and payments easier than ever. However, it’s important to note that while most businesses accept prepaid cards, there are a few exceptions. Hotels and rental car agencies are notable ones, as they can charge more than your predetermined payment amount for extra fees or damages.

Although these facts are true for the majority of prepaid debit cards, it’s wise to read the details for any prepaid card before you apply. Fee structures and schedules, approval processes, and liability protections all vary from provider to provider. If you’ve read the fine print and you want to proceed, congratulations! You’re about to experience the freedom that comes with a debit card without any of the hassle.

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Plan for your wedding!

Some people start planning their dream wedding as early as childhood, but with all the anticipation that builds around the big day, it can be easy to lose sight of how much that dream wedding may actually cost. In 2012, the average cost of a wedding in the United States rose to a whopping $27,000—more than many Americans make in a year!

When the time comes to start planning your actual wedding, don’t fall victim to the misconception that a dream wedding has to be an expensive one. Follow these tips for planning your wedding budget, and live in marital and financial bliss for years to come.

• Communicate: Every couple—and every family—deals with an impending wedding differently. You and your fiancé may be paying for the whole affair upfront, or you may be receiving some help from generous family members willing to foot the bill. Either way, it’s crucial that everyone involved in paying for and planning the wedding is on the same page in regards to how much you’ll be spending and what the money will be used for

• Assess: Take inventory of your outstanding debts and costs of living before you set a budget, and then decide how your dream wedding will affect your unique financial situation. Are you or your fiancé in debt? If so, wedding-related expenses may increase your credit card payments or lessen the amount that you’ll have to put towards your outstanding student loan each month. If you’re in the clear, consider how you spend each month’s surplus income and understand that paying for a wedding might mean less to contribute to your savings account or fewer meals out for the time being.

• Prioritize: Once you’re clear on who plans on paying for what parts of the wedding, it’s time to sit down with your fiancé and discuss what aspects of the wedding are most important to you. After all, wedding planning is an exercise in compromise, and it’s important to understand that you’ll likely need to make sacrifices to stay within your budget. Compile a list of all of the costs associated with your wedding, work together to order them from most to least important, and then splurge only on the items that are highest on your list.

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Saving Money Is Easier Than You Think!

Women today are faced with many expectations in the workplace, the home, and the community, and with all of those conflicting duties, it can be difficult to keep track of everything that needs to be done. Unfortunately, effective money management often falls by the wayside in favor of other, more urgent concerns.

However, it doesn’t need to happen to you. Here are some easy tips for managing your money wisely:

• Know where your money’s going: It’s easy to spend a little bit here and there without truly realizing how much money you and your family are putting towards unnecessary expenses each month. By tracking every purchase, even small ones, you’ll gain a better understanding of how you spend your money, and you’ll be able to identify opportunities to cut back when necessary.

• Set a budget: Keep track of how much incoming cash flow you have per month and subtract your living expenses. After that, you’ll be left with a surplus or a deficit. For households with a monthly surplus, we recommend setting a goal amount to contribute to savings or to paying down existing debts. If you come up with a monthly deficit, however, you may not be living within your means and should reassess your spending habits.

• Reduce your debt: If you have preexisting debt, make a plan to pay it off as quickly as possible. Otherwise, your debt will continue accruing interest and you’ll owe more in the long run. Whether your plan includes paying your low-balance cards first, then concentrating on larger debts, or contributing more than your minimum student loan payment when possible, any attempt to pay down your debt will be beneficial in the long run.

• Open a savings account: The best way to stay out of debt is to save for big purchases or payments ahead of time. Set a goal savings amount each month, and have that money automatically transferred into an easily accessible savings account. You’ll be pleasantly surprised at how fast it adds up, and the next time you want to take a vacation or make a large purchase, you won’t need to put it on your credit card.

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Save on gas costs!

Unfortunately, the days of $1.00 gas, $2.00 gas, and even $3.00 gas are gone and most likely never coming back. As prices continue to rise, and the economy continues to keep millions of Americans unemployed or underemployed, car owners all over the country are looking for ways to cut back on costs. Here are some helpful ways you can trim down that gas bill before it overwhelms you at the end of each month.

1. Don’t accelerate too quickly – While it may be tempting to put the pedal to the metal and enjoy the feel of speeding past other drivers at a stoplight, the joke is really on you in this situation. Beyond the fact that it puts added wear and tear on your engine and tires, accelerating quickly is also terrible for your fuel economy. Since accelerating quickly revs up your RPMs very high, your car ends up consuming a significant amount of gas. Take it easy coming out of stoplights to lower your gas bill and prolong the life of your car.

2. Don’t speed – The ideal speed for maximizing fuel economy is 55 mph. While this may be too much to ask when you’re on a 65 mph or 70 mph road, simply maintaining the speed limit will increase your fuel efficiency for the same reason accelerating more slowly will do so. When you drive too fast, even at a low gear, your car is running at higher RPMs and using up precious fuel.

3. Avoid idling – Whether it’s in the parking lot or in the middle of a traffic jam, having your car running when it’s not moving can use up a lot of gas. If you’re waiting for someone to come out from the store, turn off the car while you wait. If you’re driving home from work, consider taking alternate routes home to avoid gas-guzzling stop and go traffic conditions.

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Should you pay off that debt?

This is one of the great financial questions many people struggle with every day. There are several reasons people take on debt: college, mortgages, auto loans, emergency costs, and just day-to-day credit card expenses. How to handle that debt is always an on-going concern, but for people who are lucky enough to fall into some money—whether from a promotion, an inheritance, or a generous gift—they’re left with their own dilemma: Do you put this money into a savings account or pay off your debt? Here are some things to consider before you make the next move.

1. Do you already have a savings built up? It’s always important to have money saved up in case of emergencies. An emergency room visit or car accident could leave you with big bills to pay off. In order to plan for your future, you want to be sure to have at least 3 months salary saved up. In this case, you’ll be able to pay cash when an emergency hits rather than relying on credit cards or other loans, which would dig you into even more debt.

2. Would you make more by saving than you’re losing with interest rates? If you haven’t already done so, add up all your debt including loans, credit card debt, etc. Find out the interest rate you’re paying and add up how much you’re paying in interest each year. If you have $5,000 in loans with an average of 10% APR, that means you’re paying $500 in interest alone. Now find out how much you’re earning on your savings. If it’s less than the amount you’re losing in interest every year (and you already have savings put away in case of an emergency) then it may make more sense to pay off your debt rather than put more into savings.

3. What are you saving for? There are exceptions to the advice of putting your money toward your debt. There are some big life investments for which it makes more sense to save up money even though you still have debt that’s costing you money. If you’re planning a big purchase like a new home, a new car, or are looking to start your own business, then it’s probably a good idea to save that money for your future investment. Paying off debt just to take on more debt for a car, home, or business doesn’t make much sense, so if you’re planning a big purchase use your new savings to pay it off in cash.

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Social Security is the federal program used to ensure that people have the money they need during different stages of their life. The Social Security program encompasses Old-Age, Survivors, and Disability Insurance (OASDI). What this means is that citizens of the United States are guaranteed federal funds when they get older (as early as age 62), when young people have a family member pass away, when a disability leaves someone unable to work, and for other occasions when people need help.

Over the last couple of years there has been a lot of talk about cutting Social Security. While people understandably have some concerns, here is a brief look at how Social Security works that may give you some peace of mind.

Is Social Security running out? – While there isn’t as much money going into security as there is going out because of the start of Baby Boomer retirement, you can take a deep breath because it looks like Social Security is here to stay. Social Security is expected to pay out the full amount until the year 2033. If the tax code stays the way it is today, then after that time 75% of Social Security will be paid out. There are ways to extend 100% of the benefits going forward through a combination of cuts to benefits and tax increases.

What’s in it for me? – Unless you’re saving a whole lot of money for retirement, there’s a lot that Social Security can do for you. If you make an average income in the United States, you would need to save between $500,000 and $1 million throughout the course of your career in order to replicate the amount of money you’ll receive from your Social Security check once you reach retirement age. When you retire with at least 10 years of part-time work under your belt, Social Security averages your 35 years of highest yearly income and pays out 100% of it to you if you wait until full retirement age (66 or 67, depending on when you were born).

How do I plan for Social Security? – There are a number of useful tools out there to help you plan for your retirement under Social Security, including signing up for an account at www.ssa.gov/myaccount/.

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A money transfer is the safest, fastest, and most dependable way to send money anywhere in the world. In the United States this service is widely available, as you can get money transfers through Western Union, MoneyGram, and other companies at local financial services stores all across the country. When you have a friend, family member, or loved one who is in need of some funds, or you have to quickly send money to a business, money transfers are a sure way of sending your funds quickly and securely.

Why Should I Use Money Transfers?

When you decide to send a money transfer through an internationally trusted service like Western Union, you can be sure that your money will get where it needs to go as quickly as possible. When you send cash or check to a loved one or business through the mail, it has to pass through many hands before it arrives at its destination. This means that it will definitely take longer to arrive and is more likely to be lost or stolen along the way.

How to Send a Money Transfer

Sending a money transfer is a pretty simple transaction. Simply stop by your local financial services store with a check, debit card, or prepaid card along with the account information of the person you’re sending the money to, and have your money sent electronically. It will take only a few seconds for your money to get from your account to the account it’s being deposited into.

The Safest Way to Send Money

You can be sure that the transaction is safe because money transfer services use encrypted data that is impossible for a third party to read, so even if someone intercepts the data on the way they won’t be able to do anything with it. There are also procedures in place that make the interception of data almost impossible.

Retrieving the Funds

The person or group receiving the money from you doesn’t have to do anything in order to retrieve the funds. As soon as you complete the transaction the money will be directly deposited into their account and they will be able to use the funds right away. For additional security and peace of mind, many money transfer services will give you and the person you’re sending the money to a phone call or text message letting you know that the funds have reached their destination.

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Almost everyone out there is looking for different ways to get ahead. When the financial crisis hit in 2008 many folks lost their savings, and those without any savings to begin with were left in dire situations with few job prospects to consider. It’s understandable that people are looking for different means of supporting themselves, but there are a lot of money-making schemes out there that could leave you in a worse position than you started. The biggest targets for predatory money scams like these are individuals who need money the most. Don’t fall victim to these money pits — read more as we show you the kinds of investment opportunities to avoid.

Get Rich Quick Books and Conferences

You might get something in your e-mail inbox suggesting that you buy a book or attend a particular conference or seminar in order to learn about investment strategies that will land you in a pool of wealth. Almost all of these programs and books are just a way to scam people out of their hard earned money. Rather than spending tens, hundreds, or even thousands of dollars to find out from someone (who might not even be a financial expert) how to make money, talk to a financial advisor at a local financial services location or a bank to get reliable service from someone who knows what they’re talking about.

Kings Contacting You on Gmail

Never give money to people claiming to be kings, foreign dignitaries, or anyone from another country who says they can help you make money in any way. Usually these e-mails will ask you for personal information like your full name, your social security number, your address, your phone number, your credit card number, and other information that would allow them to either take money directly out of your account or steal your identity. Whether it’s someone claiming to be a displaced foreign national, Saudi royalty, or someone trying to get you to invest in a foreign lottery, don’t listen to it and don’t give them your information. Never give away information linked to your identity or bank account to anyone you don’t know, and try resetting your “spam” settings in your e-mail account so that these e-mails go right where they belong: in the trash.

E-mails, Websites, Texts, and Calls

As you probably know, there are many others out there who will make regular attempts at stealing your money on websites, through e-mail, and by phone. As a rule to live by, do not give money to individuals or companies you do not know. As tempting as some of these offers sound, you need to take a moment to think, and consider their authenticity. Whether it’s a text message from an unknown number or a stranger on Craigslist promising to send Bruce Springsteen tickets if you wire them money, common sense will be your best financial advisor.

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Looking around for auto insurance can be tedious, but it’s better to put forth the effort ahead of time before you’re stuck with major bills to pay if a collision occurs. If you’re prepared and have all the necessary information on hand, it can actually be a pretty painless process.
When shopping, there are a few things you have to know. First and foremost is what the insurance requirements for your state are. There are many areas under which you must be covered if you want to drive in your state, such as bodily injury liability coverage, which keeps you protected if something happens to your person behind the wheel. It may be that in your state you have to get a few different areas covered at minimum, so keep track of what you need first.
You also should know just how much your automobile is worth. Not all cars are created equal, and coverage for a common sedan from fourteen years ago will be cheaper than for a brand new convertible. Check with Kelley Blue Book for a rough estimate of your car’s worth.
You also should have an idea of your net worth, should you choose to get liability coverage. Other characteristics about yourself factor into your auto insurance, so make sure to be prepared with your basic information (such as the age, gender, and marital status of the covered drivers) as well as how long you’ve been a licensed driver in your state. You may even be asked about specific driving behaviors, such as your daily driving commute.
It may seem like pulling teeth, but auto insurance is important. Since some basic coverage is mandatory, make sure to shop around for the coverage that’s best for you. If you have to pay, you might as well pay for quality coverage.

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Many people are afraid of taking out a loan because of what they fear debt collectors are allowed to do. There is often misunderstanding about who collectors represent and what they can do under law. It’s important to know your rights and what is allowed when someone comes knocking at your door to collect payments.

Debt collectors are often people from a third party hired to settle debts. They are usually from an independent organization that is not part of any law enforcement organization, and does not hold any legal power over you. They are absolutely not allowed to tell you that you have to go to jail if you don’t pay your debts, and they certainly can’t threaten you otherwise.

If you feel that you’re getting overwhelmed by collectors, don’t panic. The Federal Trade Commission has enacted a law called the Fair Debt Collection Practices Act which keeps you in power when faced with a debt collector. If for some reason you believe the agency made a mistake, accusing you of welching on your debt even though you’ve paid it off, make sure to send a letter to them within 30 days of first contact. When they receive it, they are to stop pestering you immediately.

The debt collector also has no power to garnish your wages or funds to settle the debt on their own. If you feel you’ve already paid the loan off in full and they’re misinformed, legal action may take place. If the court finds that you still owe money, then legal action is enacted on a case-by-case basis.

Know your rights, and make sure to read up on the Fair Debt Collection Practices Act when signing up for a loan.

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