Greece Default: 10 Things You Need to Know About the Greek Debt Crisis

After failing to meet a $1.8 billion debt payoff deadline to the International Monetary Fund on Tuesday, Greece now stands in default with Eurozone financial chiefs, who declined to offer the economically troubled nation any more extensions or bailout money.

The country’s last-ditch attempt at saving itself is a July 5 referendum when it will try and settle with its creditors. If they turn down the request, Greece could find itself ousted from the continent. “If Greece defaults on its debts — a scenario that seems highly possible at this point — it could then be forced to leave the European Union and drop the euro, which is used by 19 E.U. members,” according to Ylan Q. Mui of The Washington Post. “That could send investors into a frenzy, pulling money out of not only Greece but other fragile economies as well.”

Related: 10 Nations That Have Defaulted on Their Debt

Greece’s problems aren’t isolated to its own people and pose some very serious financial problems for other countries across the world. Read on to see how you and other Americans are being affected.

10 Ways Greece’s Debt Default Impacts Americans

1. U.S. stocks have taken a huge hit.

Novice or avid, if you’re an investor, you’ll have felt the shockwaves felt across Wall Street. Due to Greece’s default, U.S. stocks suffered their biggest drop in 2015, according to Heather Long of CNN Money, who reports that the Dow dropped 350 points (nearly 2 percent). The S&P 500 also fell more than 2 percent and the Nasdaq fell 2.4 percent.

2. Future financial investments in Greece will be uncertain.

According to Trevir Nath of Investopedia, “A Greece default would disrupt financial market stability and have a negative impact on the American cash pouring into the European stock market.”

3. It could compromise U.S. exports to Greece.

The U.S. accounts for $276 billion in exports to the Eurozone, according to Investopedia. Last year, Greece purchased $773.2 million in goods from America, noted Alexander Kaufman on The Huffington Post. (Exports from the U.S. to Europe are about $470 billion a year.) If Greece leaves Europe, the effects on import-export will be felt stateside. “If the Greek crisis is prolonged, a flight-to-safety in U.S. Treasury bonds could bolster the dollar, crimping exports and economic growth,” wrote Mui.

4. In turn, American workers could lose jobs.

This prediction was made a few years ago when Greece entered its recession, but with its default today, it seems even more likely. With next to zero money for Greeks to spend on American goods and imports, American workers for companies producing those goods in the U.S. could experience job losses, according to ABC.

5. U.S. business dealings with the Eurozone will become more problematic.

With a potential increase to the U.S. dollar in reaction to the Greek crisis, Greece and other countries may not be able to afford to conduct business with the United States. “Further Greek turmoil could cause a relative appreciation to the already strong U.S. dollar, which, combined with soaring interest rates in Europe, could make U.S. exports more expensive and unattainable to EU member states,” wrote Nath.

6. The U.S. credit market could be impacted.

Kaufman also wrote that a Greek default and an imminent exit from the European Union could mean that the nation ceases using Euro currency — and this could shake up global credit markets, causing interest rates to spike.

7. U.S. interest rates may be adversely affected.

Because of the above shakeup to financial markets across the world, Greece could force the Federal Reserve to delay increasing interest rates, wrote Jeffry Bartash for MarketWatch. “The central bank had been expected to act as early as September, but an ongoing Greek crisis could unnerve American investors, businesses and consumers,” Bartash noted. He quoted Michael Moran, chief economist at Daiwa Capital Markets America: “The biggest effect [on the U.S.] would be market turmoil.”

Keep Reading: Which Country Has the Highest Interest Rates?

8. The U.S. will feel the fallout from other countries affected by the crisis.

“A rapid outflow of capital could in turn destabilize countries such as Spain and Italy,” wrote Mui. “If that were to happen, a tidal wave of panic would wash over Europe and spill over into the United States.” 

9. United States-Greece cash flow will suffer.

According to CNN Money, after today’s default, Greece’s stock market and banks were closed to prevent money from leaving the country. Emergency loans were frozen and Greek citizens were limited to withdrawing only $66 per day from ATMs and branch locations. Worse yet, under credit controls, Greeks “cannot send money abroad or make international payments without special permission,” a move which could prevent a steady cash flow to the U.S. and vice versa, noted Elena Becatoros and Raf Casert for AOL.

10. Greece’s economic failure will hinder U.S. economic recovery. 

Economic turnarounds take a long time: Greece has been in a recession for five years, and in the U.S., we’re still feeling the effects of the mortgage crisis that saw its lowest point more than six years ago. But as we still look to recover from our country’s own financial worries, Greek’s ongoing debt woes only make it harder for the U.S. “Economists say the Greek crisis would certainly be a roadblock for the U.S. economic recovery and a setback for the global economy,” noted Mui. 

Photo Credit: Ververidis Vasilis / Shutterstock.com

This article originally appeared on GOBankingRates.com: Greece Default: 10 Things You Need to Know About the Greek Debt Crisis

This article by Paul Sisolak first appeared on GoBankingRates.com and was distributed by the Personal Finance Syndication Network.

Does Obama’s Overtime Pay Proposal Affect My Salary?

President Barack Obama announced Monday night a proposal that would increase the salary threshold for workers who are paid overtime, according to a statement from the White House. The proposal, which will be handed down by the Department of Labor, would extend overtime pay to close to 5 million workers.

Obama’s Overtime Pay Proposal Doubles Overtime Salary Limit

In a Monday op-ed for the Huffington Post, President Obama wrote, “Right now, too many Americans are working long days for less pay than they deserve. That’s partly because we’ve failed to update overtime regulations for years. And an exemption meant for highly paid, white-collar employees now leaves out workers making as little as $23,660 a year — no matter how many hours they work.”

The new proposal to extend overtime would raise the salary threshold at which employees automatically qualify for time-and-a-half overtime pay from $23,660 to $50,440. Currently, many white-collar employees making more than $23,660 annually — which is below the federal poverty line for a family of four — don’t qualify for overtime due to their classification as exempt employees, as pointed out by Obama.

With the new overtime salary limit, overtime regulation will get back on par with where it was in 1975 in terms of buying power, reports The New York Times. The Obama overtime pay proposal requires no approval from Congress and falls under the executive branch’s regulatory powers.

Related: 7 Paycheck Laws Your Boss Could Be Breaking

Are You Affected By Obama’s New Overtime Rules?

The Obama administration estimates that these new overtime rules will affect 4.68 million people within the first year of implementation. Here’s how to know if this will affect you:

• You are currently classified as an “exempt” employee due to the nature of your role
• You are making more than $23,660 a year but less than $54,440

For example, even an exempt earner making just over the limit, $25,000 a year — around $12 an hour — would not have received overtime under the existing rules. Under the new salary limit bump, however, working even five hours of weekly overtime would result in $4,727 in overtime pay — wages the worker wouldn’t have qualified for or received under current rules.

The White House also released a breakdown of which demographics will be most affected by the Obama administration’s overtime pay proposal. Of the 4.68 million affected workers, here are the most-affected groups by demographic:

• Age: 43.9 percent (2.05 million) will be between 35 and 54 years of age.
• Education: 39.7 percent (1.86 million) will have a Bachelor’s degree.
• Sex: 55.8 percent (2.62 million) will be female.
• States: California, Texas and Florida have the largest number of affected residents, while Arkansas, Florida, Oklahoma and Tennessee will have the highest percentage (more than 4 percent in each state).

Photo credit: tvnewsbadge / Flickr

This article originally appeared on GOBankingRates.com: Does Obama’s Overtime Pay Proposal Affect My Salary?

This article by Elyssa Kirkham first appeared on GoBankingRates.com and was distributed by the Personal Finance Syndication Network.

FTC and Florida Attorney General Sue to Stop Illegal Robocalls Pitching Worthless Credit Card Interest Rate Reduction Programs

Another Action Targeting Robocalls from “Card Member Services”

At the request of the Federal Trade Commission and the Florida Attorney General, a federal district court has temporarily halted an Orlando-based operation that has been bombarding consumers since 2011 with massive robocall campaigns designed to trick them into paying up-front for worthless credit card interest rate reduction programs. 

The court order stops the illegal calls, many of which targeted seniors and claimed to be from “credit card services” and “card member services.” The defendants charged consumers up to $4,999 for their non-existent services.

“Working with the Florida Attorney General, we’re shutting down a scam that blasted robocalls to older people and offered bogus solutions to relieve credit card debt,” said Jessica Rich, Director of the FTC’s Bureau of Consumer Protection.  “It’s illegal to sell products or services with out-of the-blue robocalls, and if you get one you can expect that the sales pitch is a lie, too.”

“These scammers were making illegal robocalls to people nationwide, some of whom were seniors on fixed incomes. Too often the services promised were never provided, and consumers faced even more credit card debt through charges made without their consent,” said Attorney General Pam Bondi. “My office, in partnership with the FTC, has shut down this illegal credit card interest rate reduction scam and brought those responsible under the control of a federal court receiver.”

Doing business as Payless Solutions, the defendants have been illegally calling thousands of consumers nationwide – including many seniors – claiming that their program will save them at least $2,500 in a short period of time and will enable them to pay off their debts more quickly. After convincing consumers to provide their credit card information, the defendants then charged between $300 and $4,999 up-front for their worthless service. In some cases, they illegally charged consumers without their consent.

The joint agency complaint alleges that the defendants fail to provide consumers with the promised interest rate reductions or savings. Instead, some consumers receive a package of financial education information that they did not request or agree to pay for. In other cases, the defendants use consumers’ personal information to apply for new credit cards, presumably with low introductory interest rates, without consumers’ knowledge or consent.  

The complaint also charges the defendants with making many calls to consumers whose phone numbers are on the FTC’s National Do Not Call Registry, and with a number of violations of the FTC’s Telemarketing Sales Rule and Florida’s Telemarketing and Consumer Fraud and Abuse Act.

The FTC and Florida Attorney General’s Office appreciate the assistance of the Florida Department of Agriculture and Consumer Services and the Orange County Sherriff’s Office in bringing this case.

The defendants include: 1) All Us Marketing LLC, f/k/a Payless Solutions, LLC; 2) Global Marketing Enterprises Inc., f/k/a Pay Less Solutions Inc.; 3) Global One Financial Services LLC; 4) Your #1 Savings LLC; 4) Ovadaa LLC; 5) Royal Holdings Of America LLC; 6) Gary Rodriguez; 7) Marbel Rodriguez; 8) Carmen Williams; 9) Jonathan Paulino; 10) Fairiborz Fard; 11) Shirin Imani; and 13) Alex Serna.

This article by the Federal Trade Commission was distributed by the Personal Finance Syndication Network.

Who Cares About Your Credit Score?

Checking your credit score is a little bit like eating your vegetables: Some people genuinely love doing it, others force themselves to and the rest of us write it off as unimportant. After all, your physical and financial health is a personal thing.

It may seem like your credit score and how you manage it is nobody else’s business. You may think your credit score doesn’t matter, because you don’t use credit cards, you don’t have a huge need for accessing credit or you don’t care much about the difference a credit score makes in the interest rates you qualify for in the event you need a loan. The truth is, your credit score can have a bigger impact on your life than you may think it does. Here are some examples of people who care about your credit score…

The Credit Card Company

Credit cards may be one of the most polarizing things in personal finance — many consumers love them, plenty of people avoid them, and a huge number of people go back and forth between enjoying cards’ convenience and loathing the debt they fell into as a result.

As great as credit cards are for helping consumers build credit and finance some expenses, they’re not a necessity. Much of the convenience credit cards offer can be found on debit cards, so if you never want to deal with credit cards, you don’t have to.

However, if you ever want to open a credit card, having a good credit score certainly helps. The better your credit score, the more options you’ll have when trying to find a card, and the better the interest rates you’re likely to qualify for. Consumers with bad or no credit scores may be able to get a credit card, but that can require paying a deposit to the credit card issuer, or an annual fee — not to mention higher interest charges if you don’t pay off your bill every month.

The Car Dealer

Cars are expensive, and most people have to buy several vehicles in their lifetimes. Unless you’re able to pay cash for every single one, you’ll need an auto loan, and your ability to get one of those depends heavily on your credit score.

To finance a car purchase you need a loan, and a potential lender will want to know your credit history. Your credit score is a huge part of determining how much you can borrow, what interest rate you will be charged on that loan and how much your monthly payment for that car loan will be.

The Mortgage Lender

Buying a home without a mortgage is possible, but that requires a heck of a lot of cash. Considering how difficult many Americans find it to come up with even a 20% down payment, paying all-cash for a house is out of reach for most.

Given that reality, if you want to buy a home, you’re probably going to need a loan. Getting a mortgage is no simple task, even for people with stellar credit, so if your credit score isn’t great, you’re looking at further complicating one of the most complicated personal-finance tasks out there.

Your Future Self

Living without credit is doable, but if you take out a few loans here and there throughout your lifetime, you should know that your credit score could have a huge impact on your net worth. Because your credit score determines the interest rate on things like home, auto and some student loans, a lifetime of great credit could translate into a minimal interest burden and hundreds of thousands of dollars in savings, when compared to what you could have paid because of a lower credit score. You can see the difference yourself if you play around with the numbers in our Lifetime Cost of Debt calculator. The average person pays $279,002 in interest — yep, just interest — in his or her lifetime, and that number can shift significantly if you have a better- or worse-than-average credit score.

A good credit score means you may be able to put more money toward other goals like retirement, travel or debt-free education for your kids — even if you don’t think much about your credit score, you should think of how it indirectly affects your family. In a few decades, you (or those close to you) can either be pleased or angry with you for how your credit score affected your cash flow, but the first step is to know where you stand today: You can get two free credit scores every 30 days on Credit.com.

Related Articles

• Credit Card Payoff Calculator
• The Expert Guide to Credit Cards for Building Credit
• How Much House Can You Afford?

This article originally appeared on Credit.com.

This article by Christine DiGangi was distributed by the Personal Finance Syndication Network.

8 Ways to Be a Cheapskate at Farmer’s Markets

Being a cheapskate at a farmer’s market may sound like a bad idea — who wants to rip off farmers? — but it can still be done while keeping your conscience clear. I’ve tried some of these methods or have watched others do them successfully for years.

I haven’t done a cost comparison to see if shopping for produce at a farmer’s market is any cheaper than at a grocery store, but as a regular shopper at both I’ve seen mostly higher prices at grocery stores. Not always, but often.

Even if you do find deals at the store, the quality isn’t often as good as it is from a farmer’s market where the produce was picked that morning or maybe a day or so earlier. I’m not trying to be a farmer’s market snob. Some things I’ve found at farmer’s markets during my weekly trips to them in the past seven years have not always been so great. But overall, I’ve found most of the produce to be top-notch.

Being a cheapskate at a farmer’s market requires some changing of your standards. And don’t think that these methods will put your local farmer out of business. They want to unload their fruits and vegetables every week, and will sometimes take a small loss if it means moving more items.

Here are some ways to be a cheapskate at a farmer’s market, and they don’t include having it delivered to your home:

Skip organic

Without getting into an argument over the overuse of the term organic and which foods should be grown organically for health reasons, if you want to save money as a cheapskate, skip buying organic at your farmer’s market. You’ll save at least 25 percent

If you absolutely don’t want fertilizers on the food you buy and are willing to pay extra for organic, then buy it. But know that it’s basically a technical term that requires adhering to certain practices and standards.

I’m not an expert in organic regulations for produce, but I can tell you from my conversations with farmers at my local farmer’s market that it’s a label that county regulators monitor closely for compliance. Some farmers basically grow their food organically but don’t go through all of the paperwork to get it certified.

There’s an organic stand at my local market that I always skip because I’m a cheapskate. I’m in drought-stricken California, where produce prices are high already, but I’ve seen the organic stand sell cherries for 50 cents more per pound than other stands.

Buy in season

This is the easiest way to save. Too many things are sold out of season in California, and the prices are a few dollars higher than they would be if they were in season. They also taste a lot better when they’re bought in the season they normally grow in.

I only buy apples in the fall and watermelon in the summer. Plums and apricots are plentiful during the summer, and are $2 per pound now versus $3 or more a month or so ago.

Be a late cheapskate

The farmer’s market I go to is open from 10 a.m. to 2 p.m. Arriving late can save you 50 percent or more.

I rarely do this, mainly because the fruit is so picked over by close to 2 p.m. that what’s left is often bruised and must be eaten within a day or so before it goes bad.

That may be OK if you plan on eating a lot of apricots fast, or will can them or turn them into jam. But if you want good fruit to eat for the next week, go early in the morning and pay the regular price.

Haggle as a cheapskate

Haggling is a lost art, I think, and one I’m not good at. But if you see an advertised price and can haggle well to a lower price, then this is the place to do it — especially at the end of the day at a farmer’s market.

Farmers want to pack up and leave, and haggling near closing time could save you 50 percent or more and make you the ultimate cheapskate.

But in my view, unless they’re offering a discount, why haggle a few dollars for some farmer who has done more work bringing your vegetables or fruits to market than you’ve done all week? It’s like stealing from a your child’s teacher.

Take a cheapskate walk first

This is advice I don’t always follow because I’m usually in a hurry. Too many times I’ve bought something — strawberries, for instance — at one stand and then come to another stand a few feet later that has better prices. That doesn’t mean the quality is the same, but a quick look and a taste can give you an idea of why one is cheaper than the other.

If you really want to be a smart cheapskate, take a walk around the farmer’s market and keep your money in your pocket while you compare prices. Then go buy the best deals.

Buy in bulk

I rarely to this because its too much fruit or veg for my family to eat before before it goes bad, but if you have a large family or are OK with eating a lot of one item for a week, then buying in bulk can lead to big savings as a cheapskate.

I’ve seen strawberries for $8 for a crate of six small baskets, while a package of three small baskets costs $5. Double the strawberries for only $3 more? Yes! Strawberry pies require a lot of strawberries.

Fresh corn during the summer, however, proved to be too much when 10 ears were only $6, compared to four for $3. You can only eat so much corn for dinner, lunch and snacks.

You can also use your haggling skills as a cheapskate to ask for a better price in bulk.

Go ugly

I’ve never done this, but I’ve heard that farmers will keep “ugly” produce aside that they don’t think will sell. Ask to see the “ugly box” and make sure you get a lower price if you buy anything in it.

Build goodwill and give them the change

I don’t like carrying around a pocket full of change. Digging for exact change at a busy farmer’s market can be a pain for everyone — you, the vendor and anyone waiting in line behind you.

I give my regular business to farmer’s market vendors who don’t charge in change. They either round up or down. If they round up, they always ask me if I want to throw in an extra plum or whatever I’m buying to make the total amount an even number. If apples weigh in at $3.74, I grab another apple and they charge me $4.

If they don’t go that route, then still give them $4 and tell them to keep the change. I’m not trying to be a big tipper, but want to make the point that I don’t want the change and would rather they have it.

One farmer I go to every week always rounds down. I often round it up for her because she’s so fair in her prices.

This goodwill as a cheapskate may not save you money immediately, but over time it may build you goodwill with the vendor and they’ll lower their prices for you.

This article by Aaron Crowe first appeared on Add-Vodka.com and was distributed by the Personal Finance Syndication Network.

Finding Weird Scholarships

How would you like to score some college scholarship money even if you’re not at the top of your class or an outstanding athlete? Many students do. They’ve found that there are numerous smaller "weird" scholarships that are available if you’re willing to take the time to find them. And, finding those weird scholarships is more important than ever.

A so-called "moderate" college budget for someone attending a four-year public university was over $23,000.

To help offset that expense, CollegeBoard.org estimates that full-time students at a four-year college received $6,100 in aid including grants and tax credits.

To help us learn more about unusual college scholarships, we contacted Pyper Barnes. Pyper is a junior finance major at the University of Alabama and the owner of WeirdScholarships. Weird Scholarships is a website dedicated to helping students find unique and interesting scholarship opportunities.

Q. What’s the biggest misconception that people have about scholarships? And how does that affect the applicant?

Pyper: There are numerous myths that surround scholarships. Although some scholarships are quite competitive, students can qualify for many types of college scholarships. If students are not aware of the other types of scholarships available, they may give up and miss out on some of the funding I found by searching for unique scholarships.

The most common misconception about scholarships is probably the belief that the only people who will get good scholarships are athletes and top-ranked students.

This is simply not true. There are many scholarships that have nothing to do with athletic prowess or the highest academic achievements. If you excel in almost any kind of extra-curricular activities, like music, art and other types, you can find scholarships for college.

In addition, private organizations and companies sponsor all kinds of scholarships for students from specific religious, ethnic, or cultural backgrounds. You may have to satisfy a minimum requirement for GPA, but you don’t have to be at the top of your class.

I found a lot of help from so-called unique or weird scholarship. They range from being tall to wearing Duck™ brand duct tape to a prom. Some of these scholarships still offer solid aid amounts, although others are smaller. The scholarships with lower dollar amounts awarded attract much less attention, though, and they are easier to win.

Some of the scholarships I qualified for, without being a star student or athlete, include those for members of my religious denomination, for people in my age group, and for choral singers.

Q. You stress the importance of "standing out." How can you do that without stepping over the line into bad taste?

Pyper: Most students use the essay part of their scholarship application to stand out from other people trying for the same award. When you write an essay, it first needs to be pertinent to the scholarship for which you are applying. Writing like a brilliant author won’t help you if your writing is off-topic.

Bring out the aspects of your personality that make you different. Highlight your good qualities. Include any unique habits or talents you have, without having anything you write possibly be interpreted as being in bad taste. That type of writing has no place in scholarship application essays. Everything you say should relate to the point you want to make.

Q. Web searches turn up many obscure facts. How can you use search to discover little known scholarships?

Pyper: Scholarships are available from so many places that it would be impossible to find them just by looking for college websites. That’s why I searched "weird," "unique," and "unusual" to find a search engine that listed lesser-known scholarships.

The most commonly found scholarships located with search engines may be the better known awards, for top scholars and great athletes. It’s important, if you’re not the best athlete and don’t have the top grades, to find scholarships that don’t draw as many people. Each scholarship in "weird" searches has something unique that makes fewer students eligible to apply for it. Each one has individual requirements, but they’re different from the prerequisites for conventional scholarships.

Q. On your site, you highlight 100 strange scholarships. Are there any patterns that would help students look for scholarship?

Pyper: To find obscure scholarships, you need to use search terms like "unusual," "weird," "odd," etc. You can also search religious scholarships and those of community organizations that will be less-applied-for than larger scholarships.

Any organization that you belong to may also be a key you can use to find lesser-known scholarships. For example, if you are an environmentalist, you can use that in your search to find scholarships that cater to people with the same passionate causes as you.

Q. What types of categories should be searched? What types of searches tend to find the best scholarships?

Pyper: It’s really not that difficult to find scholarships. Search the categories that pertain to your talents and affiliations. You can also become a member of a search website, which will allow it to display all the scholarships that are best tailored to you.

The categories in which you can search include:

Interest
Career
Military
Major
Religion
Race
State of residence
Sports

The best websites allow you to enter enough keywords so you will be selecting from the scholarships that suit you best.

Q. How hard is it to win these scholarships? Are the odds pretty long? Or can I expect to win at least some money?

Pyper: The difficulty in winning depends on the scholarship. The more focused the criteria, the fewer students may apply. With smaller scholarships, there is a greater chance of winning. I’ve heard that some smaller scholarships just get a handful of applications each year. The more applications you complete, the better.

Q. How much time should I expect to spend to research and apply for strange scholarships?

Pyper: Short answer? A lot. The more applications you submit, the better chance you have of receiving an award. Remember, if you spend 40 hours applying for scholarships, then you receive a $2,000 award, it is like getting paid $50 per hour!

But once you get the hang of applying you will be able to speed it up. You will find that you can reuse a lot of your scholarship application responses.

Parents can help students if they are short on time. They can narrow down the choices and then you will have better-suited scholarships from which to make the best choices.

Pyper Barnes is the Founder of Weird Scholarships. Weird Scholarships is dedicated to helping students find unconventional and unique scholarship opportunities.

Visit TheDollarStretcher.com today for 5 things FAFSA doesn’t tell you.

This article by by Gary Foreman first appeared on The Dollar Stretcher and was distributed by the Personal Finance Syndication Network.

What Do Shoplifting and Identity Theft Have In Common?

Anyone who’s ever worked in retail — whether it’s a summer job as a teenager or a long career as a store manager — knows that shoplifting is a costly and stubborn problem.

How costly and stubborn? New data is shocking.

“Over 1.2 million shoplifters and dishonest employees were apprehended in 2014,” says the 27th annual Retail Theft Survey. That’s more than 3,200 cases a day, and it only covers “25 large retailers.”

Sadly, the number is rising, up more than 7 percent from the year before.

Of course, you might be thinking, Hey, it’s great these stores are catching more of these criminals! That’s good news, right? Not really.

While those 25 retailers recovered more than $225 million, they also spent money getting it back — both in staff time and on high-tech gadgets.

“Something has to change,” says Mark R. Doyle, president of Jack L. Hayes International, which sponsors the annual shoplifting survey.

“I believe the solution starts with education. Educating the public as to the severity of the theft problem and how it negatively effects them on a daily basis,” Doyle says. “Educating our elected officials as to the negative impact theft plays on our communities and economy. Also, we need to do a better job educating our school-aged children to the consequences of theft and the seriousness of the problem.”

So what does this have to do with identity theft?

For starters, the retail theft report makes you wonder: If retailers can’t stop shoplifting, how are they going to stop thieves from lifting my credit card information from their data banks?

Shoplifting prevails — despite high-tech cameras and inventory-monitoring software — because human beings are both lazy and aggressive. Namely, employees can become lazy about monitoring for bad behavior, while thieves have all the motivation they need to find new ways to steal.

The same happens with identity theft.

Debt.com has previously reported on how little Americans do to protect their vital information. Now a new report shows that, “70 percent of consumers lack a high degree of confidence that their passwords can adequately protect their online accounts.”

Here’s one reason: “54 percent use five or fewer passwords across their entire online life,” according to the report, from a security firm called TeleSign. Even worse: “22 percent use just three or fewer.”

While those people are too lazy to think of a new, longer password, identity thefts are spending countless hours figuring out new ways to rob you.

Here’s another sad comparison between shoplifting and identity theft: While big retailers can afford the latest technology to fight shoplifting, the smaller ones can’t. When it comes to identity theft, it’s the same.

A company called RSA just released its first Cybersecurity Povery Index. “Poverty” might seem an odd word to use next to “cybersecurity,” but the index interviewed 400 security professionals at various companies and found “45 percent admit inability to measure, assess and mitigate cybersecurity risk.”

Why? It’s expensive to train staff to find these risks, and since they keep changing, it’s even more expensive and time-consuming to stay trained.

So where does that leave you? In a lurch if you don’t take control of your own security. If you’ve learned anything today, it’s not to trust others with your own security. Check out Debt.com’s free educational section, How to Prevent Identity Theft and consider signing up for online ID theft protection.

However, if you do nothing else today, do this now: Change those passwords.

Howard Dvorkin is a CPA and chairman of Debt.com, an educational resource for those who want to conquer all forms of debt in their lives.

This article by Howard Dvorkin first appeared on Debt.com and was distributed by the Personal Finance Syndication Network.

5 of the Most Common Used Car Buying Scams

Big-ticket purchases are always a battle between finding a great deal and a quality product, and buying a car is one of the few great expenses that consumers make over and over again throughout their lives. When you need to buy a car, there are a lot of priorities in play, but for most people it all comes down to finding a car that meets your needs but doesn’t cost you more than you’d like to pay.

That desire to minimize expenses tends to push people in the direction of used cars, but it also makes consumers an easy target for scams. Getting scammed by a car seller can be a costly mistake, one that could potentially damage your credit and jeopardize your financial stability, so remain patient and conduct a lot of research when searching for a new vehicle. Now that the summer car-buying season is here, online vehicle marketplace Autotrader offered some tips for how to spot and avoid some of the most common used-car scams.

1. Requests for a Deposit

If you find a used car and the seller asks you to wire him or her a deposit to hold the car or release it from a foreign country, you might be dealing with a scammer. Autotrader says it’s an extremely common scheme, in which the seller will disappear after receiving your money. So don’t put down a deposit on a car unless you’re buying from someone you know or are working with a dealership.

2. Title Washing

Dishonest sellers are known to forge a title or use a blank title to hide a vehicle’s history from a potential buyer, which is why you need to do your own research to understand where the car has been. “Title washing does not wipe out the computer records that result from a police report, an auto auction sale or an insurance payout,” Autotrader’s scam advisory noted. Use the Vehicle Identification Number (VIN) to search for details.

3. Hidden Damage

In addition to reviewing public records and a car history report, have the vehicle checked out by a professional. Vehicle histories may not include paint jobs, body work or anything else a previous owner didn’t report to insurance.

4. Incorrect Mileage

Remember that scene in the movie “Matilda” when Danny DeVito’s character (a used car salesman) uses a drill to reverse the odometer on one of his junky cars? Crooks still attempt to do that sort of thing, though odometer fraud is a felony in many states. Tamper-resistant and digital odometers make that sort of move really difficult to execute these days, but it happens. Autotrader advises consumers to cross-check the mileage on the vehicle history report and what the odometer says, and you should probably walk away if there’s a huge difference.

5. Stolen Goods

Car thieves can only do so much with what they’ve stolen: They can keep it, sell its parts or sell the whole thing. If you’re not careful, you could be the unsuspecting consumer who gets caught up in that last situation. Thieves may have had the title re-issued before attempting to sell it, so you should use the VIN to search for reports of theft. Autotrader recommends the National Insurance Crime Bureau’s VINCheck database.

If you buy a car from a dishonest seller, you may end up losing a lot of cash, or if you have a loan for that terrible car, you could end up struggling with the debt you took on for a useless vehicle — missing payments on a car loan (or any debt) will hurt your credit — and good credit can come in very handy if you need a loan to help you replace the bad car, too (you can get your credit scores for free from many sources — including Credit.com — to see where you stand). Prioritize research and exercise caution when you find an attractive deal, because cutting corners when shopping for a used vehicle could cost you a lot of time and money in the long run.

Related Articles

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• Top 5 Worst Car Buying Mistakes

This article originally appeared on Credit.com.

This article by Christine DiGangi was distributed by the Personal Finance Syndication Network.

This 4th of July, Declare Your Financial Independence

The Fourth of July — a time of national pride, celebration, ice cream and you guessed it, fireworks. But while you dress in your best red, white and blue and reflect on all the things this country stands for, it can also be a good time to think about where you stand financially.

This midway point of the year can be a great time to evaluate your financial health and consider ways to improve it. So, in the spirit of firecrackers and sparklers, take a look at some ways to help your savings shine the same way the sky will this Independence Day weekend.

Compounding Interest

While simple interest is earned only on the principal amount, compound interest allows you to earn interest on your interest. This means that every year you earn more on your savings as your accumulated interest from previous periods is calculated for each new period. This compounding interest is one of the main reasons it’s so important to start early to save enough money for retirement.

401(k) Match

When it comes to that retirement savings, there are different benefits to choosing different types of accounts. Employers that offer a 401(k) account may also offer a match. With company matching programs, you can earn up to $35,000 in retirement funds per year just by saving as you usually would (the maximum employee and employer contribution is $53,000 for 2015, according to the IRS). If your company offers matching contributions, it’s a good idea to put in enough money to get the full match.

Diversification

Investing can be a great way to boost your savings — if you know how to do it. A key technique in successful investment is reducing risk through diversification of assets. This means you don’t put all your eggs in one basket. When you are looking to improve your portfolio or even just get started, it’s a good idea to put your money across several categories like stocks, bonds and cash, depending on your goals, risk tolerance and timeline for when you will need the money. Diversification is not a guarantee against loss, but it can lower your risk while providing the necessary exposure for potential reward.

Passive Income

While you are filing your income taxes and evaluating your budget, you may find that your salary alone is not getting you quite where you want to be. You could look for ways to earn passive income, which is income you get on a regular basis but requires little effort to maintain. It may involve the majority of work upfront (like buying and fixing up a home that you then rent out) or doing very little work but seeing some returns over time (like peer-to-peer lending).

If you’re not checking your credit reports and credit scores regularly, now is also a great time to check in on those, too, and establishing a routine for it. Getting your credit reports and credit scores on a regular basis can help you stay in tune with your standing, and to spot signs of fraud, errors or general problems that need your attention. You can get your credit reports for free every year from each of the major credit reporting agencies, and you can supplement that by getting your free credit report summaries on Credit.com every month.

No matter what strategies you choose, now can be a great time to evaluate and improve your finances — and have a great long weekend celebrating your freedom to do so.

Related Articles

• What’s Your Lifetime Cost of Debt?
• What’s a Good Credit Score?
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This article originally appeared on Credit.com.

This article by AJ Smith was distributed by the Personal Finance Syndication Network.

4 Home Improvement Projects You Can Do in a Day

To the uninitiated, home renovations sound daunting and conjure painful images of burning cash. But don’t let that scare you. Many projects can be done in a day, and if you’re smart about it, says Kerrie Kelly, founder of Kerrie Kelly Home Design Lab, they’ll boost curb appeal without breaking your budget.

“Whether it’s something you leave on a list for a handyman to do or you do it yourself, which is always gratifying,” she says. Here are few of her favorites.

1. Switch the Hardware

Sometimes it’s easiest to begin with the front of the house rather than what’s inside, Kelly says, especially if you’re on a tight budget. To that end, changing the front doorknob and lock is a quick update that only takes a few minutes and can compliment the style of the house. Add a kick plate for a touch of glam or go gold for a traditional feel.

2. Brighten the Lights

Another quick, simple way to brighten your home is by changing the lights in the front yard. Feel free to purchase new ones, or better yet, clean the ones you already have. Your home will look far less spooky at night and you’ll actually see where you’re walking.

3. Paint the Door

If scrubbing bug-infested front yard lights isn’t your thing, put a new coat of paint on your front door to freshen it up. Go for something that complements the house’s exterior or be bold and opt for a pop of color, Kelly says, which will set the right tone.

4. Upgrade Your House Numbers

House numbers and address plaques are another quick update that can make a big difference. With the proper placement, they can make your house easier to find — not a bad thing when trying to sell — and the right style of numbers can help play up its architecture.

As you start to plan your home improvements, it’s helpful to set a budget so you don’t overspend. If you can avoid going into debt to spruce up the abode, all the better. Carrying a high amount of debt on your credit cards — relative to your credit limit — can have a negative impact on your credit scores. However, if you do access credit for your home improvement projects, be sure to come up with a plan to pay it off (and follow it). You can see how your debt is affecting your credit by getting your free credit report summary on Credit.com, and you can calculate how long it will take to pay off your credit card debt using this free calculator.

Need more inspiration? Read on for other Home Improvement Projects You Can Do in a Day.

Related Articles

• How Much House Can You Afford?
• Why You Should Check Your Credit Before Buying a Home
• How to Get Pre-Approved for a Mortgage

This article originally appeared on Credit.com.

This article by Kali Geldis was distributed by the Personal Finance Syndication Network.

5 Times Being a Good Negotiator Can Really Pay

Everyone loves a deal, but sometimes it takes a little extra effort to get the price we want. Negotiating a price down can take some work, but it’s one of the best tools at your disposal when you’re looking to save money. However, while you might know you can haggle on big-ticket items (cars, houses, etc.), there are plenty of other negotiating opportunities out there that can get you a great price. Here are five unexpected ways you can save yourself some cash.

1. Furniture

When it comes to furniture, the sticker price isn’t always the final word. In fact, most furniture salesmen are expecting to be met with opposition on the original price. If you want to increase your odds of finding a good deal though, try opting for smaller, mom-and-pop type shops and bring cash. Small businesses make it easier to speak with the owners, who will have far greater power in determining the final price as opposed to a salesperson. Bringing cash will show the seller that you’re able to pay the new price immediately in full.

2. Jewelry

As with furniture, it’s going to be in your best interest to avoid chain stores when negotiating jewelry. Name-brand stores typically have firm corporate policies when it comes to pricing, so their salespeople aren’t going to give much leeway. Independent stores, on the other hand, might seem more expensive, but they may be more willing to work with you on price. You can possibly increase your chances of getting the price you want by aiming for items that have been on the floor for some time. Jewelers don’t like to hold on to merchandise for too long, so the longer it’s been hanging around, the more likely they’ll be willing to budge.

3. Electronics

A good way to find discounts on electronics is to ask an employee about floor models or slightly damaged merchandise. Stores will typically be willing to sell floor models at a discount if they’re about to reset their floor or trying to dump obsolete models. Many stores also hang on to items that were damaged during receiving and will sell them at a huge discount. Sometimes the defects or blemishes are incredibly minor (such as chipped plastic or tiny cracks), which means a nearly perfect product for much, much less!

4. Your Credit Card

As surprising as it may sound, you might be able to negotiate some of the aspects of your credit card to lean a little closer in your favor. However, some things are easier to negotiate than others. For example, if your payment date isn’t working for you, it can be as easy as a phone call to have it moved. Interest rates or annual fees may also be negotiated. If you had so-so credit when you applied and now have a great credit score, you may be able to use that to get better terms. (There are many ways to get your credit scores for free, including Credit.com, to see where you stand.)

5. Auto Insurance

Although it might be a little tricky, it is possible to negotiate a better rate on your auto insurance. Do a little research and request quotes from competitors on plans that are as close to your current one as possible. Providing any one of them can offer a better rate, you can use that as leverage in a conversation with your representative. In many cases, companies will do what they need to keep your business.

Remember, it never hurts to ask about discounts or coupons. Negotiations start by simply inquiring, and while you might find yourself being turned down, you could be surprised! After all, you’ll never know what you could save yourself until you ask.

Related Articles

• What’s a Good Credit Score?
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• How Credit Impacts Your Day-to-Day Life

This article originally appeared on Credit.com.

This article by Leslie Tayne was distributed by the Personal Finance Syndication Network.

10 Best Short-Term Stock Investments

Looking for a crackling area in which to invest for the short-term?

“Short-term” investments generally mean investors hold them for as few as several days to as many as three years before selling them off — hopefully at a significant profit. Here’s a look at how you can take advantage of short-term stock investing to boost returns and the best short-term investment options right now.

A Look at Short-Term Investing

Greg Schnell, a chartered market technician and board member of the Canadian Society of Technical Analysts, calls himself a “swing trader” — someone who favors holding securities for only weeks or months at a time — sometimes a bit longer if the shares are performing well enough.

Schnell explained that a swing trader like himself would get into the market as long as things are going in his direction and exit the trade when the security in question is no longer dong what he wants it to.

Related: 10 Best Apps for Timid First-Time Investors

For example, he said a semiconductor manufacturer called Skyworks Solutions has been a top-performing stock for over a year. “A swing trader could still hold this stock since every month it’s making a higher high,” he said.

“Why would you want to own a stock losing money for more than a year?” he asked.

A Highly Controversial Practice

Actually, there is a very good answer to that question.

Short-term investing is a high-risk endeavor, most financial advisors warn.

“Based on the 15-year rolling average return on a small-cap stock, mutual fund or index fund, an investor’s chance of making a strong return over 10 years is close to 90 percent,” advised Scott Hanson, a certified financial planner with Educators Financial Services in Shoreview, Minn.

“On the other hand,” said Hanson, “If you’re going to invest short-term, you are gambling and really just taking tremendous risk.

That’s because short-term investors have to time the market very precisely — basically predicting what will happen within a very short space of time. They need to very quickly buy a stock at its lowest point and sell it at its highest, with no opportunity for highs and lows to balance out over time.

On the other hand, short-term investing has some advantages, assuming you are aware of the risks involved and have a very good strategy or a top financial consultant in place.

Keep Reading: How to Invest in the Share Market

Advantages of Short-Term Investing

“If you have a shorter time horizon, the investor can take advantage of intermediate market pricing trends — over three- to- nine months perhaps — and reduce portfolio volatility along the way by avoiding major market swings taking place over long periods of time when the market is trending down,” said Keith Newcomb, portfolio manager and founder of Full Life Financial in Nashville.

Assuming you have good insight into the industry or company in question and feel there is an upside to investing for the short-term, it will also prevent your having to tie up your money for long periods when you might need to invest or otherwise deploy it elsewhere.

“Risks can be managed, and substantial returns can show up very quickly,” Newcomb said.

Still, there is a good deal of disagreement with regard to short-term versus long-term investing.

“Many traditional money managers disagree with the approach that I take,” said Howard Bandy, who has designed trading systems and wrote about quantitative trading in five books for Blue Owl Press, his company in Eugene, Ore.

Bandy explained trading and investment in terms of mathematical and statistical modeling. His method is to first evaluate and manage risk, then maximize profit for a given level of risk tolerance.

The reason so many experts are able to point to the comparative success of long-term investing, he said, is based on “the uniquely favorable period following World War II.” Before 2000, the equities market had not had a negative 10-year period since the 1930s, for instance.

What to Look For in Short-Term Stock Investments

In Bandy’s opinion, the most profitable methods trade frequently (20 to 30 times per year), hold a short period of time (two to four days) and have a high ratio of winning to losing trades (at least 65 to 70 percent). Bandy generally recommends trading highly liquid stocks or exchange-traded funds.

Schnell said he focuses mostly on the price action of top-quartile stocks — those outperforming 75 percent of stocks within a peer group of similar-size companies. Looking at an industry approach, Schnell sees 5-10 cyber security stocks going up dramatically. “It’s powerful when an entire group moves up at once,” he said.

“I look for stocks that have been treading water for a long time but are climbing out of the pond and putting on their track shoes,” Newcomb said. “I buy on short-term weakness or pullbacks in the context of a longer-term uptrend.

Short-Term Investments Besides Stocks

Rustman is in no way a fan of short-term investing, particularly if you are keen on a single stock or “one-trick pony,” as he calls it. The risk of loss here will always be greater than when one is betting on a basket of stocks or bonds, which is why Rustman recommends ETFs for those interested in shorter-term investments.

ETFs are simply a basket of securities designed to closely replicate an index. They can be traded as easily as stocks and have lower transaction costs than traditional index funds.

For clients investing on a shorter-term basis than usual (calling for a minimum three-year holding time), Rustman favors what he calls “tactical investing.”

Tactical investing refers to a shorter-term strategy within an overall asset allocation, in this case favoring longer-term assets. One way to do that is to emphasize different market segments, for example, a portfolio with a 40 percent exposure to large-cap stocks might have 2 percent to 4 percent emphasizing financials or cybersecurity. 

Rustman also likes the financial sector right now because interest rates are beginning to rise, and he has recommended that some clients consider appropriate ETFs as part of their equity allocations.

Depending on the choice, this can still be an aggressive move, as some ETFs in this space are leveraged, and leverage uses debt, which amplifies losses as well as gains. “If the financial sector goes down, there will be double losses,” he said.

Rustman’s method is part of a larger strategy: an investor might want to consider sticking with a leveraged financial industry ETF for three to six months based on its short-term performance and then re-evaluate that decision.

10 Best Short-Term Equity Investments

1. Purefunds ISE Cyber Security ETF (HACK)

“HACK is one of the top-performing ETFs in the market right now,” said Schnell. It was trading at $29 in early May and as of mid-June was at $33 — “up 10 percent in a month,” he observed.

2. AVG Technologies (AVG) 

AVG, a global anti-virus and security software company, is another favorite of Schnell’s — up from $23 to $28 over the six-week period ending June 17. In a mid-June report, JMP Securities analyst Patrick Walravens raised the price target from $33 to $47.

3. SPDR S&P 500 ETF (SPY)

This ETF, which tracks the S&P 500 index, is recommended by quant specialist Hanson, who said his “sweet spot” for trades is within just two to four days. Hanson noted that it is the world’s largest and most liquid equity security, with daily dollar volume regularly exceeding $20 billion.

4. Financial Select Sector SPDR Fund (XLF)

This S&P 500-based ETF tracks the financial sector, is very easy to model and has good profit-to-risk characteristics, Hanson said.
Both the SPDR S&P 500 ETF and the Financial Select Sector SPDR Fund have good liquidity, excellent profit potential and controllable risk, he said.

5 and 6. Goldman Sachs (GS) and J.P. Morgan (JPM)

Goldman Sachs and J.P. Morgan are among the best short-term stock investments, said Schnell, as both have been climbing to new highs for months. Moreover at a time when interest rates are expected to rise — albeit more slowly than had been expected based on the Federal Reserve’s latest announcement — financial companies are expected to perform better.

7. MetLife (MET)

MetLife also broke out in mid-June to “fresh new seven-year highs,” said Schnell. MetLife topped $57 in June, and is 52-week low was $46.10.

8. IPC Healthcare (IPCM)

This firm has begun trending higher after a 12-month pause and appears in to be in a new uptrend, said Newcomb. “This hospitalist company benefits from the increasing demand on physicians to increase efficiency and improve patient outcomes,” he said.

9. FireEye (FEYE)

FireEye continues to outperform its technology sector peers and the broader market, Newcomb observed. “This network security and data protection company benefits from strong demand for its services across public and private sector entities,” he said.

10. Vulcan Materials (VMC)

Vulcan Materials is the nation’s largest producer of construction aggregates — primarily crushed stone, sand and gravel. “This industrial and building materials company benefits from the growing demand to build and maintain roadways and other construction materials,” Newcomb said.

Photo Credit: Songquan Deng / Shutterstock.com

This article originally appeared on GOBankingRates.com: 10 Best Short-Term Stock Investments

This article by Janet Aschkenasy first appeared on GoBankingRates.com and was distributed by the Personal Finance Syndication Network.

10 Savings Account Promotions Available Now

A savings account might be your financial security blanket. Getting a new one can introduce new and better ways to save money, but you might be nervous about getting rid of your other one without a good reason to do so. To help people make the switch, banks and credit unions tend to offer savings account promotions. These promotions could be in the form of incentives, such as special interest rates, cash bonuses and other rewards.

It can be tough trying to find the financial institutions with the best offers. To guide you in your search for a new savings account, GOBankingRates selected 10 of the best savings promos and deals you can sign up for today.

Amboy Direct: eSavings $50 Bonus

Amboy Bank goes digital with its Amboy Direct online branch. The eSavings Account is offering a $50 sign-up bonus and interest-bearing potential for new account holders. Here’s how to qualify for the bonus:

• Earn a one-time $50 bonus with a $3,000 minimum monthly balance for 90 days.
• Account balances between $300 and $100,000 earn a 0.65% APY.
• There’s a $100 initial deposit to open.
• There’s also a $100,000 maximum deposit.

Offer expires: N/A

Barclays: Dream Account APY Bonus of 2.50%

Billed as “a savings account with bonuses that can get you even closer to your dreams,” Barclays offers a reward to depositors that might be even better than cash: an interest rate boost up to 2.50% when meeting the requirements of the online-only Dream Account. To get the offer, you must:

• Make a minimum monthly $1,000 deposit for six consecutive months to get the 2.50% bonus on the past six months of interest earned.
• Make no withdrawals for six consecutive months to earn another 2.50% bonus based on the last six months interest earned.

Offer expires: N/A

Related: Barclays Bank Online Savings Account Review

CapitalOne: 360 Savings Account $500 Bonus

One of the best current savings account offers available today, CapitalOne‘s global view on saving money is evident in its popular 360 Savings Account. The savings account carries 0.75% APY and other added benefits. Through July, opening an account also comes with a bonus promo giving depositors the chance to earn up to $500 in cash. Here’s how it works:

• Bonus tiers work in increments: Earn $50 for deposits of $5,000 or more, $100 for $10,000 and so on.
• You must deposit your initial dollar amount within the first 10 days of opening your account to earn the bonus.
• In addition to earning interest, the 360 account has zero fees.

Offer expires: July 31, 2015

Chase: $100 Savings Account Sign-Up Bonus

Motivated consumers who want to hit the ground running can do well by opening a standard savings account from Chase. They can earn an extra $100 with a $10,000 minimum balance. Here’s how the offer works:

• You must deposit $10,000 or more within the first 10 business days of opening your savings account.
• You must maintain that balance for 90 days.
• The bonus is increased to $250 when a separate Chase checking account with direct deposit is established.

Offer expires: July 14, 2015.

Citizens Bank: CollegeSaver Savings Account $1,000 Bonus Promo

This account from Citizens Bank, designed to keep parents on track saving for their children’s future, rewards account holders with $1,000 when their child turns 18. Below are more details about the bonus:

• There is a $25 minimum monthly contribution before the child’s sixth birthday until age 18.
• There is a $50 minimum monthly contribution when opening an account on the child’s sixth birthday or before their 12th birthday until age 18.
• You can receive the $1,000 bonus, plus earned variable interest, upon successful completion of the program.
• You are allowed one skipped deposit per year.

Offer expires: N/A

Read: 9 Best Student Savings Accounts

Citizens Bank: $250 GoalTrack Savings Bonus Promo

Citizens Bank makes the list again with its GoalTrack Savings. It’s not exactly a savings account; it’s a special program that can be attached to most Citizens savings accounts to help customers reach specific savings goals. Start tracking your goals successfully, and you can earn up to $250 in bonuses. Here are more details about the bonus:

• Green Savings, Circle Gold Savings, Statement Savings and Basic Savings are eligible for the bonus.
• The maximum bonus value of $250 good for accounts reaching $400 per month for 36 months.
• Bonus gift cards are good at Barnes & Noble, Exxon, Lowe’s, Target, Applebee’s and more.

Offer expires: N/A

NEA Member Benefits: $20 Online Savings Account Bonus

Financial institution NEA Member Benefits partnered with Discover Bank to offer a $20 bonus for members to pocket when they take their banking online. To get the offer:

• Open NEA’s Online Savings Account with a $500 opening.
• Receive $20 bonus for each new account type you open each year.

Offer expires: N/A

Regions Bank: LifeGreen Savings Account 1% Annual Savings Bonus

Regions Bank offers this account as a way for customers to save money automatically and enjoy an annual savings bonus up to $100. Savers will need to link their LifeGreen Savings account to a Regions checking account to start. Here are some other details:

• A monthly minimum transfer of $10 for the entire year is required in order to receive the 1% bonus.
• Interest rates are compounded daily and paid monthly.
• You can also receive a 30 percent discount on a safety deposit box rental.
• You can receive an additional 10 percent off for using auto debit.

Offer expires: N/A

Santander Bank: extra20 Savings Account Bonus of $20

Its bonus offer is in its name: Santander Bank‘s extra20 Savings Account is a chance for depositors to earn an extra $20 by opening an extra20 Savings Account and an extra20 Checking Account. To get the $20 into your extra20 Savings Account, you must also:

• Deposit at least $25 into the checking account and $10 into savings.
• Make a direct deposit of at least $1,500 into the extra20 Checking Account to get $10.
• Schedule two or more bills via bill pay to get another $10.

Offer expires: N/A

Keep reading: Pros and Cons of Flexible Savings Accounts

U.S. Bank: S.T.A.R.T. Rewards Up to $100

S.T.A.R.T. stands for “Savings Today And Rewards Tomorrow,” U.S. Bank‘s program for people proactive about saving money for a future dream goal. Like Region’s LifeGreen Savings account, U.S. Bank’s offer to earn a $100 bonus applies for checking customers who pair their accounts with a Package Money Market Savings Account. More details about the offer include:

• After saving $1,000, you can receive a $50 U.S. Bank Rewards Visa Card.
• Keep that $1,000 or more savings for a year, and earn another $50 rewards card.
• There’s a $25 minimum deposit to open the savings account, and another $25 to open a Package Checking account.
• Optional Think Twice savings feature reminds you of how far you are along in your savings goal.

Offer expires: N/A

This article originally appeared on GOBankingRates.com: 10 Savings Account Promotions Available Now

This article by Paul Sisolak first appeared on GoBankingRates.com and was distributed by the Personal Finance Syndication Network.

The Couponing Guide for Shoppers Who Don’t Want to Look Cheap

If the eye-rolling and heavy sighs of impatient customers waiting for the cashier to process your stack of coupons leave you utterly mortified, extreme couponing might not be for you. But, that doesn’t mean you should avoid couponing altogether. After all, more people than not use coupons.

Coupons in the News reports only 11 percent of people surveyed in 2014 for the 2015 Promotion Industry Analysis said they never use coupons. And, the most prodigious users of coupons (22 percent) are actually shoppers with six-figure incomes, according to the Statistic Brain Research Institute.

Even so, some shoppers feel too embarrassed to present coupons at the register. “People are fine with saving on their J. Crew sweater, but they’re embarrassed saving on a box of cereal,” said Joanie Demer, co-founder of TheKrazyCouponLady.com. “It’s inexplicable.”

But thanks to technology, there are numerous ways shoppers can use their coupons without the fear of embarrassment. Load-to-card rewards, rebate apps and other types of electronic coupons — sometimes called e-coupons — allow shoppers to save money  before or after the checkout lane. “There’s lots of new ways to coupon without taking any action at the store and keeping everything on the down low,” said Demer.

Time-Saving Electronic Coupons and Coupon Apps

The beauty of electronic coupons is how quick and easy they are to use. By using electronic coupons or coupon apps, shoppers are more likely to perceive you as a savvy insider than a deals-hungry discount digger. In fact, using a smartphone during checkout has become routine — it’s predicted that more than 74 million Americans will use smartphone mobile coupons this year.

Paper coupons are still big business, but easier, high-tech alternatives help shoppers save without all the clipping and organizing. These new types of coupons and savings tools help you save in all the same ways you remember from traditional paper coupons and sales: discounts, free shipping offers, buy-one-get-one deals, first-time customer incentives and more.

1. Electronic Coupons

Electronic coupons can refer not only to digital coupons you store and show on your smartphone, but also a handful of other digital savings tools as well:

• Printable coupons you find online: Print these coupons out and carry them along to present at the register.
• Coupon codes, typically used for online shopping: Plug in these alphanumeric codes to the discount or coupon field when you’re placing an online order to get an instant discount.
• Store loyalty cards: Sign up for these promotional programs advertised in your favorite stores or on their websites to receive your loyalty card. Show or scan your store card at the register to receive credit for your purchase or any special discounts or coupons. If your wallet fills up with too many cards, digitize them on your smartphone with an app like Key Ring, which can also digitize your loyalty cards.
• Card-linked offers: These are digital coupons or discounts loaded directly onto your store loyalty card, debit card or credit card. At checkout, the deals and savings are applied to your card.

Watch: How to Save Money Without Being a Crazy Coupon Lady

2. Smartphone Coupon Apps

Many smartphone coupon apps help you track down and manage digital and printable coupons. These apps all work a little differently, though, so research each one before you start downloading.

For example, Cellfire lets you view all of your saved coupons and allows you to save grocery coupons to your store loyalty card. You can even receive email notifications so that you know about existing offers when you walk into the store. With Grocery IQ, you can print out coupons or add coupons to you savings card as well.

When you download the SavingStar app, you can select the offers you want and link them to your grocery or drugstore loyalty card. After checkout, or after you take a picture of your receipt, you will receive your savings in your SavingStar account. Once you’ve earned $5, you can cash out to your bank or PayPal.

There are also apps affiliated with specific stores and retailers. Demer calls Target’s Cartwheel app the best all-around savings tool she uses today. In the app, choose up to 10 offers you want. Then at checkout, have the cashier scan the barcode on your smartphone to receive the discounts. “It’s one barcode, no matter how many offers, so you’re not going to be holding up the checkout lane,” said Demer.

3. Amazon Subscriptions and Coupons

Amazon has a “Subscribe & Save Coupons” page where you can see all available coupons. You can redeem a coupon you find on Amazon by clicking on it, selecting “Subscribe Now” and setting a delivery quantity and frequency.

Demer is a huge fan of this service, even though she’s not affiliated with Amazon in any way. “Their prices are really competitive,” she said. “I really feel like I want to hitch my bandwagon to Amazon…”

The trick to earning the 15 percent discount on your entire order for Amazon’s subscription items is to make sure you’re receiving at least five subscription items on your monthly delivery day. Since you can set subscription intervals from one to six months, be sure you have five items in each monthly delivery in order to earn the discount.

Many products on Amazon, such as snacks, personal care items and household basics, come with coupon orders. Just “clip” the coupon to receive the discount at checkout.

“You can add a coupon and subscribe to the item, so it’s sort of like extreme couponing online,” Demer said. “You’re stacking multiple ways to save.”

4. Rebate Apps

Rebate apps give you cash back based on what you actually buy at the store. Because rebate apps do their work once you’ve come home from the store, they might be one of the most discreet coupon and savings tools out there.

With rebate apps like Ibotta, Checkout 51 and Snap by Groupon, all the work happens before or after you shop. There’s absolutely no action required at the checkout — in fact, you can leave your smartphone at home with some rebate apps.

To use a rebate app, browse and add any offers you’re interested in before you go shopping. Once you’re home again after shopping, take a picture of your receipt and upload it to the app to receive cash back for the items you purchased.

A final word of advice if you’re using any type of electronic coupon or deal: Store employees aren’t always comfortable with e-coupon technology. Should you run into technical difficulties during checkout, discreet couponers will probably prefer to try it again at another time rather than attempting to troubleshoot at the register.

Read: 5 Store Where You Can Stack Coupons for Ridiculous Savings

Where to Find Electronic Coupons

A savvy coupon shopper will use different methods to find coupons, including coupon websites, brand websites, retailer websites, search engines and social media. Try Coupons.com or TheKrazyCouponLady.com to get started. You can also find online coupons and discounts on sites like CouponSherpa and RetailMeNot. And don’t forget about coupons for smartphones and apps like Cellfire and Grocery IQ.

Here’s a neat trick for nudging online retailers into sending you email coupons and coupon codes: Abandon the items you want in your online shopping cart without purchasing them. In an attempt to close the sale, some retailers will email you a coupon code for whatever you’ve left in the cart.

You can often score coupons by being a supportive follower on social media, too. Some stores and brands will share coupon codes and deals with their social media fans. Or, they might use newsletters and brand clubs.

Finally, don’t neglect the power of an internet search to find the coupons you want. Hit your favorite search engine with the name of the store or brand plus the word “coupon.”

Top Brands and Stores That Offer Coupons

With electronic coupons and rebates, it’s easy and convenient to keep your couponing profile low key while still enjoying coupons for popular and high-end stores and brands, like Lacoste, J. Crew Factory, Banana Republic, Athleta and Aero. You can link these brands’ offers right to your debit or credit card through Coupons.com.

The best card-loaded deals and electronic grocery coupons, according to Demer, come from Safeway, Vons and its affiliates. Stores known for their great deals, like Kohl’s, also tend to offer coupons.

The Best Coupon Savings Strategy

The tools that ultimately save coupon expert Demer the most money just happen to be the most discreet, a real bonus for users who prefer not to advertise their affinity for coupons. Surprisingly, as easy and convenient as they are, card-loaded offers and other electronic coupons don’t form the backbone of her ongoing savings.

“I am able to save more — a great deal more — with rebate apps, for example,” she said.

The other big gun in Demer’s arsenal is the double whammy of Amazon subscriptions and clickable coupons. “I’m seeing pretty significant price savings — that’s how I’m beating Costco prices,” she said.

But, it’s good old-fashioned sales that save Demer the most money, even more than couponing.

“It’s still for me all about the combination,” she said. “But the No. 1 driver that’s going to reduce your budget is the mental shift that says, ‘Instead of shopping around what I ran out of or the recipes I just found on Pinterest, I’m going to look at my sale circular. I’m going to visit TheKrazyCouponLady.com, and I’m going to make my purchase decisions based on what’s on sale.’”

Keep reading: This Boston Family Clipped Coupons for 3 Years to Get Out of Debt

This article originally appeared on GOBankingRates.com: The Couponing Guide for Shoppers Who Don’t Want to Look Cheap

This article by Lisa Poisso first appeared on GoBankingRates.com and was distributed by the Personal Finance Syndication Network.

PayPal Tells Feds Users Can Now Opt Out of Robo-Texting

PayPal has backed down on its robocalling and robo-texting policy.

The online money company sent a letter to the Federal Communications Commission on Monday saying it will change its terms of service to clarify when it will use automated calls or texts, and offer an easy way for users to opt out of them.

The change comes just days before the policy was to take effect as PayPal formally splits from eBay.

Earlier this month, I wrote a story calling attention to PayPal’s upcoming terms of service, in which the company granted itself broad rights to robocall or robo-text consumers for almost any reason, at any telephone number the firm could connect to a user.

The new policy is much more specific. Gone is the “at any telephone number that you have provided us or that we have otherwise obtained” language. Also gone is language saying use of the service grants PayPal the right to use texts or calls to market products to consumers.

The new policy indicates PayPal can use autodialers in three specific situations: to contact consumers to collect a debt, to investigate fraud or to provide notices about account activity. The policy then makes clear that “you do not have to consent to receive autodialed or prerecorded message calls or texts in order to use and enjoy PayPal’s products and services,” and provides an opt-out link.

The notice also makes clear that PayPal can only use automated tools for marketing purposes if it obtains additional express written consent.

“I commend PayPal for taking steps to honor consumer choices to be free from unwanted calls and texts,” said Federal Communications Commission Enforcement Bureau Chief Travis LeBlanc. “The changes to PayPal’s user agreement recognize that its customers are not required to consent to unwanted robocalls or robotexts. It clarifies, rightly, that its customers must provide prior express written consent before the company can call or text them with marketing, and that these customers have a right to revoke their consent to receive robocalls or robotexts at any time. These changes, along with PayPal’s commitments to improve its disclosures and make it easier for consumers to express their calling preferences, are significant and welcome improvements.”

After my initial story, the FCC sent a letter telling PayPal that its terms “raised serious concerns,” and would potentially violate the Telephone Consumer Protection Act. An FCC official met with PayPal’s legal team last week, which led to the change.

“We greatly appreciated the opportunity to share with you … our sincere regret for any concern or confusion this updated provision has caused the (FCC) or our customers,” the letter said. It was signed by Louis Pentland, PayPal’s general counsel.

A notice about the change will be emailed to PayPal users soon, the letter said.

In reaction to the initial report about the change, PayPal said consumers could opt out of robocalls and texts, but it wasn’t initially clear how to do so.  Also, the firm had told a customer weeks earlier that no opt out was available. When PayPal consumer Robert Pascarella questioned PayPal about the terms of service on the company’s Facebook page recently, he requested an opt-out for the provision and was shot down.

“Regrettably, there isn’t an opt-out option to certain items within our User Agreement,” PayPal wrote on Facebook.

Thanks again to Ed Hasbrouck for initially calling attention to the issue …. several years ago.

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This article originally appeared on Credit.com.

This article by Bob Sullivan was distributed by the Personal Finance Syndication Network.

Nicki Minaj Net Worth vs. Beyoncé Net Worth: Which Music Icon Swept BET Awards 2015?

The BET Awards 2015 aired Sunday evening to celebrate Beyoncé, Nicki Minaj and more of the biggest and brightest stars in entertainment. The event was hosted by “Black-ish” stars Anthony Anderson and Tracee Ellis Ross and lasted nearly four hours, during which plenty of entertainers — including Minaj, Diddy and Chris Brown — performed.

Here’s a look at the 2015 BET Awards stars’ net worths.

Beyoncé Net Worth: $450 Million

Despite not attending the event, Beyoncé was a huge winner Sunday night, rounding up three BET Awards: Best Female R&B/Pop Artist, Video Director of the Year and Video of the Year for “7/11.”

Beyoncé has long been a powerhouse earner, and the past year has been no different. Forbes reports her 2015 earnings at $54.5 million. Beyoncé’s net worth is $450 million, according to CelebrityNetWorth. But combined with husband Jay Z’s net worth, her household is worth $1 billion.

Read: North West, Blue Ivy: 29 of the Richest Celebrity Children

Nicki Minaj Net Worth: $50 Million

Nicki Minaj took home the 2015 BET Award for Best Female Hip-Hop Artist, an award she has now won six years in a row. Minaj’s acceptance speech was also a highlight of the awards ceremony; the rapper introduced her mother and thanked her for being an integral part of her success.

And Nicki Minaj’s net worth proves her impressive success, at $50 million, reports CelebrityNetWorth.

Chris Brown Net Worth: $30 Million

Chris Brown was a performer at the BET Awards and also took home the trophy for Best Male R&B/Pop Artist, as well as the Fandemonium Award. This status is backed by monetary success, with Chris Brown’s net worth at $30 million, according to CelebrityNetWorth.

Tickets for Brown’s tour with Trey Songz were among the most expensive of 2015, at around $260 apiece, reports Forbes.

Sam Smith Net Worth: $15 Million

Sam Smith beat Fetty Wap, Rae Sremmurd, Tinashe, Bobby Shmurda and Dej Loaf to take home the 2015 BET Award for Best New Artist. Smith wasn’t there to receive the BET Award trophy, but host Anthony Anderson donned a wig that mimicked Smith’s hair and accepted the award on his behalf.

Sam Smith’s net worth is $15 million, reports CelebrityNetWorth.

Rihanna Net Worth: $140 Million

While Rihanna didn’t manage to take home any awards at the event, she was still a huge highlight of the BET Awards 2015. She was seen singing along to ex Chris Brown’s performance, she playfully placed duct tape over champion boxer Floyd Mayweather’s mouth, and she threw a wad of cash at BET President of Programming Stephen Hill, reports Entertainment Weekly. Rihanna also aired a new teaser trailer for her upcoming music video for “B—h Better Have My Money.”

CelebrityNetWorth reports Rihanna’s net worth is also among the most impressive of the BET Awards attendees, reaching $140 million.

Photo credit: Joe Seer / Shutterstock.com

This article originally appeared on GOBankingRates.com: Nicki Minaj Net Worth vs. Beyoncé Net Worth: Which Music Icon Swept BET Awards 2015?

This article by Elyssa Kirkham first appeared on GoBankingRates.com and was distributed by the Personal Finance Syndication Network.