Sometimes a Word Doesn’t Mean What You Think it Does

Sometimes a Word Doesn’t Mean

There are three essential things you need to know about money:

1. Words have power. They may convey emotions that were created when you heard lines like:  Mom always loved you best We the people …

2. Words change. The meanings … and sometimes the spelling! A word can be used one way one day and totally change the next.

3. Words can, and will be used differently, by different people—cultures, genders, and ages. Every profession, law and political organization, businesses large and small, use some of the same terms to talk about money.

Since I am  talking about money today … and just to you … let’s consider two words pertaining to your money: debits and credits.

Your Bank Account

You and your bank look at your bank account from different viewpoints. Let’s say you deposit a $100.  When you make that deposit the bank says it has “credited” your account. When you write a check the bank says it has debited your account.

Your Credit Card 

Let’s say you spend $85 on groceries using your credit card. Your credit card will reflect a debit and in turn creates an asset for the credit card company—a credit to it. In turn, the credit card company must now pay the vendor who the money was collected for BUT, the credit card company gets paid a percentage of the amount collect as its “fee” … a net credit to it.

Remember this about credit cards: For credit card companies, debits increase their assets via credit card processing fees—a HUGE credit that collectively amounts in excess of 160 BILLION dollars a year. That is an OMG!

Merchants view processing credit cards as part of the business. You many have noticed that many are not charging you an “extra amount”—either set or a percentage of your purchase to cover the cost.

If you want to help a merchant out … write a check or pay cash. To HELP YOU OUT, always pay your credit card balance off within 30 days to avoid additional interest charges.

Patricia Lane Williams, CPA has worked with thousands of men and women sounding the warnings. She is the author of the Amazon bestseller, Money: Get It. Save It. Grow It … Before Debt Steals It.
Her website is www.PatWilliamsAuthor.com.

LOWERING YOUR CREDIT CARD INTEREST RATE okay

If you have credit cards . . . with or without balances . . . Get them out and research  each card issuer and determine if there are any specials for new accounts -- the ones that offer reduced rates.

If you succeed than this is what I want you to do. Do not reduce your payments on an outstanding balance. Because the interest rate get hold of more moneys lower your minimum payment is reduced but ignore it. Always pay more than the minimum to reduce the balance.

GET HOLD OF MORE MONEY

Need more money? Here's a list of short term solutions. Sometimes referred to as ''side hustles.''

Sell stuff. Everyone has a lot of stuff just lying around the house collecting dust. Your stuff could be somebody else's treasure.

Sell at a flea market. Sometimes called swap meets you can find any number of flea markets by searching online.

Have a yard sale. No matter what you call them yard, tag, or garage sale once the stuff leaves the house it it never comes back. back.

Make stuff'. Are you a creative person? Like to work with your hands knitting, crocheting ,woodworking? I know one woman who does quite well by taking photographs and turning them into greeting cards and selling them on her own website. Search the web and you'll find many more groups willing to sell your stuff.

Get a part-time job. Part-time jobs have been known to lead to full-time jobs or a changes in careers.

Make it stand out

Is Debt Stealing Your Money?

To get hold of your money, you will have to understand what it is, how it works, how other people affect your money decisions, and how to stay in control when it seems the entire world is falling apart. Within the pages ofMONEY: Get It. Save It. Grow It., you are going to learn the real basics of money management. Basics that are rarely taught today—basics every adult needs to succeed financially.

Question do you need a bank account?

Did you answer no? The correct answer is yes. Most employers today make it possible to pay their employees by direct deposits. They make it possible to deposit your check in more than one account dividing it between such accounts as checking, savings, even a pension account. When an organization hires an employee, they have the new recruit fill out a form that says where they want all their money deposited.

At the same time, you may receive a card that you can use at any ATM. You will be asked if it is a credit card or debit card. Always say credit. Why?

Two reasons:

If you touch “debit” the money is immediately taken from your bank account.

If someone gets ahold of your card and you checked “debit” they may be able to clean out your account in seconds.

MONEY $$$ MONEY $$$ MONEY

You need money. At times, lots of it. And others, just the bare funds to cover the necessities of food, utilities, rent, or a mortgage payment.

You need money to pay for the essentials of living. What are they for you?

To get money, the great majority of people do it by working. If you are self-employed or own a business, it comes from what is “left over” after you pay your expenses for your work. If you work for someone, you get a paycheck.

No matter how you get money, you need a portal to keep it in: a bank, a credit union, savings account—something that has insurance behind each account. Commercial banks are covered by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per account. A credit union account is covered by the National Credit Union Share Insurance Fund (NCUSIF) with $250,000 for each account.

Banks and credit unions have a number of services, including:

•  Checking accounts

•  Saving accounts

•  Certificate of Deposit accounts

•  Credit and Debit cards

•  Auto loans

•  A way to deposit money and pay bills by check or online

•  Auto loans, personal loans, home loans, mortgage refinance, and HELOCs

•  Loans for business, school, and other consumer needs

•  Online bill payment

•  CDs, money orders, and safe deposit boxes

•  Financial coaching

•  Investment services

•  Insurance

•  ATMs

There is a difference between banks and credit unions. Many large banks have a nationwide system where most credit unions are within the region.

Credit unions are financial institutions owned by their members. They are designed to make money; rather to help the community they reside in. Credit unions often offer competitive or higher interest rates on checking and savings accounts.

Banks are profit centers. Some are private and more community oriented; others are publicly owned via stock. Many pay dividends to the shareholders, usually based on the profitability of the bank’s holding company. They can be a challenge to getting to a decision maker.

In making a decision to where you place your money—convenience, location, hours, and services offered should be on your decision list. And of course, what your personal needs are. It’s always a good idea to ask those you trust who they would recommend.

Patricia Lane Williams, CPA has worked with thousands of men and women sounding the warnings. She is the author of the Amazon bestseller, Money: Get It. Save It. Grow It … Before Debt Steals It.
Her website is www.PatWilliamsAuthor.com.

MONEY $$$ MONEY $$$ MONEY

You need money. At times, lots of it. And others, just the bare funds to cover the necessities of food, utilities, rent, or a mortgage payment.

You need money to pay for the essentials of living. What are they for you?

To get money, the great majority of people do it by working. If you are self-employed or own a business, it comes from what is “left over” after you pay your expenses for your work. If you work for someone, you get a paycheck.

No matter how you get money, you need a portal to keep it in: a bank, a credit union, savings account—something that has insurance behind each account. Commercial banks are covered by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per account. A credit union account is covered by the National Credit Union Share Insurance Fund (NCUSIF) with $250,000 for each account.

Banks and credit unions have a number of services, including:

•  Checking accounts

•  Saving accounts

•  Certificate of Deposit accounts

•  Credit and Debit cards

•  Auto loans

•  A way to deposit money and pay bills by check or online

•  Auto loans, personal loans, home loans, mortgage refinance, and HELOCs

•  Loans for business, school, and other consumer needs

•  Online bill payment

•  CDs, money orders, and safe deposit boxes

•  Financial coaching

•  Investment services

•  Insurance

•  ATMs

There is a difference between banks and credit unions. Many large banks have a nationwide system where most credit unions are within the region.

Credit unions are financial institutions owned by their members. They are designed to make money; rather to help the community they reside in. Credit unions often offer competitive or higher interest rates on checking and savings accounts.

Banks are profit centers. Some are private and more community oriented; others are publicly owned via stock. Many pay dividends to the shareholders, usually based on the profitability of the bank’s holding company. They can be a challenge to getting to a decision maker.

In making a decision to where you place your money—convenience, location, hours, and services offered should be on your decision list. And of course, what your personal needs are. It’s always a good idea to ask those you trust who they would recommend.

Patricia Lane Williams, CPA has worked with thousands of men and women sounding the warnings. She is the author of the Amazon bestseller, Money: Get It. Save It. Grow It … Before Debt Steals It.
Her website is www.PatWilliamsAuthor.com.