Financial Education at a Glance
Quick and Easy Budgeting Techniques
 In order to set yourself up for financial success, there are several steps you can take. The first step is to design a monthly budget. Budgeting may not sound like fun but it is a simple, time-saving, and money-saving task that the whole family can benefit from. Here are some tips on how to get started:
First gather all your monthly statements and bills, including bank statements, credit card statements, and utility bills. Having this information at hand |
makes the process much more efficient.
Make a record of all sources of income, including wages and rental property income. Record this income as monthly amounts. Make a list of every monthly expense you may incur. Categorize the list by fixed and variable amounts. For example: the gas and electric bill may vary in amount each month but your mortgage payment is the same each month. |
Total your monthly expenses and monthly income. If the expenses are larger than the income, some adjustments in spending will need to be made.
Last, make sure to review your budget each month to ensure that your dollars are being maximized. If you prefer to use the computer there are several software programs you can use to create a budget, including Microsoft Excel and Quicken. |
Identity Theft: What You Need to Know to Protect Yourself
| Identity theft is very prevalent in this age of advanced technology. Here are some tips to keep you safe.
Check your financial statements regularly. If you see any irregular activity, report it immediately to the financial institution and to the credit reporting bureaus. If you are especially concerned about identity theft, consider |
freezing your credit report, this ensures that no hard inquiries into your credit report can occur without your permission.
If you have already been a victim of identity theft you may be eligible for free credit monitoring. As we informed you last month, always monitor your credit through your free annual credit report. |
Special Announcement
Credit and Debt Assistance Center of America is holding two educational seminars, one on Saturday February 27 from 10 a.m. to 12 p.m. and one on Wednesday March 3 from 7 p.m. to 9 p.m. We will be covering such topics as budgeting, retirement and savings, and basic credit. If you would like more details or are interested in attending please give us a call at: 949-713-1800.
|
