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Yahoo
2 days ago
- Business
- Yahoo
How To Finally Break Out of the Paycheck-to-Paycheck Cycle, According To Lewis Howes
The size of your paycheck isn't necessarily the key to financial stability. Lewis Howes, a personal finance expert and host of The School of Greatness podcast has lived this journey and now he's sharing it with others. He recently uploaded a video to his YouTube channel explaining how to stop living paycheck to paycheck. If you're ready to break this cycle in your own life, keep reading to find out what he had to say. Find Out: Read Next: Overcome 'Victim Mentality' 'I was scared, and I was scarce emotionally, spiritually, mentally, and I was living from that place of financial brokenness and also emotional brokenness and those two things are not a good place to be in,' Howes said. Thankfully, he said something inside him changed and he started to shift away from 'victim mentality' to do something with his life. If this sounds familiar, you can also work to overcome a sense of victim mentality. For example you might set personal and career goals to work toward, start saying no to habits that don't align with your goals, surround yourself with positive people and learn to manage your reactions to situations you can't control. See More: Face Your Fears Howes decided to put his fears in the rearview mirror by tackling them head on. For him, this included learning to work past his fear of speaking on stage by going to Toastmasters on a weekly basis, learning to salsa dance, writing a book, playing Olympic handball and starting his own business. This can feel terrifying, but you have the courage to face your fears. Get started by being kind and patient with yourself, concentrating more on the goal itself than your fear, acknowledging your feelings without immersing yourself in them and focusing on the facts, according to advice from Psychology Today. Expand Your Knowledge 'I started to figure out money eventually,' he said. 'It took a few years, but something clicked inside of me after having mentors teaching me and coaching me where I was just willing to obsess over it.' No one — including Howes — is born with a solid understanding of personal finance. Expanding your knowledge of key concepts like learning to budget, building an emergency fund and eliminating debt can help you build wealth. Create a Richness of Life No longer living paycheck to paycheck is about more than just your bank account balance. Howes said you also need a 'richness of life inside of you, so that you can have the health, the relationships, the purpose, the vision, the career — whatever it is you're working on — and feel abundant, feel peaceful, feel whole, feel like you're home.' Believe in Yourself When you believe you're capable of doing something, you're more likely to show up, manifest and achieve your goals, he said. One of the keys to learning how to believe in yourself is changing your inner voice to a supportive tone. You'll also need to learn to trust yourself by keeping your word, being honest with yourself and following your gut. More From GOBankingRates 10 Unreliable SUVs To Stay Away From Buying This article originally appeared on How To Finally Break Out of the Paycheck-to-Paycheck Cycle, According To Lewis Howes Solve the daily Crossword
CNET
3 days ago
- Business
- CNET
Freezing Your Credit Is Free. Join Me in Taking This Important Cybersecurity Step
Viva Tung/CNET As a personal finance editor covering identity theft, I knew freezing my credit would make it harder for cybercriminals to open a new account in my name. But I still went back and forth on freezing my credit before I actually did it because it also adds a few extra steps for me to do the same. When you freeze your credit, you have to manually unfreeze or "thaw" it with Experian, TransUnion and Equifax whenever you want to apply for a new credit card, mortgage or car loan. The process of freezing your credit isn't straightforward either. It involves signing up for individual accounts with each credit bureau and freezing your credit manually online, by phone or by mail. Online is the fastest option. But there are two benefits that ultimately sold me on it. First, freezing your credit is absolutely free. And second, I get peace of mind in knowing I've neutralized a major tool in identity thieves' playbook. Why I froze my credit reports Data breaches happen more often than you think, across multiple industry sectors. And chances are, your data has been compromised at least once. Last year, Ticketmaster and AT&T reported data breaches that affected millions of customers. And hacks of background search company National Public Data and UnitedHealth Group subsidiary Change Healthcare also compromised the personal data of hundreds of millions of people. But if you're worried about new credit accounts being opened in your name, a credit freeze can help. I've noticed an uptick in the number of scam messages I receive on my phone and in my email inbox over the past year. Most are easy enough to sniff out, but some were fairly well researched. I've received a variety of messages asking me out for ribs and even offering me new job opportunities. The barrage of messages, phone calls and emails makes me think that at any given moment -- while distracted or in a rush to get back to my desk for my next meeting -- I may fall victim to a scam that could lead to identity theft. Freezing my credit is one of the best ways to protect your data and money, but it's not foolproof. Fraudsters and identity thieves might still gain access to my personal information via existing accounts. I can limit the damage, however. Read more: 5 Signs Your Personal Data Is on the Dark Web, and What You Can Do About It How I froze my credit with TransUnion, Equifax and Experian When you freeze your credit, you'll need to do it with each of the three main credit bureaus. That requires setting up accounts with each -- a process that took about 30 minutes online. Generally, you're asked for the same information: your name, birthday and the last four digits of your Social Security number. You then need to complete two-factor authentication via text or email. TransUnion and Equifax have dedicated tabs on your dashboard for freezing your credit after you create an account. With a few clicks, I was all set. Experian makes this option a bit more difficult to find. After some clicking around, I found two ways to activate a free security freeze. You can hover over "credit" on your dashboard and click Experian Credit Lock -- Experian's paid offering that works similar to a credit freeze but locks your credit report instantly, among other features. On that page, you'll see the free "security freeze" option. Experian/Screenshot by /CNET You can also scroll down to the bottom of the page while signed in and click Experian Credit Lock to get to the same page. All three credit bureaus will confirm your credit freeze via email. If you don't want to set up online accounts, you can call each credit bureau to freeze your credit. Here are the numbers for each: TransUnion: 800-916-8800 Equifax: 888-298-0045 Experian: 888-397-3742 After you've requested a credit freeze, each bureau must freeze your credit within one business day. When you need to unfreeze your credit, Experian, TransUnion and Equifax are required to thaw your credit within an hour. By mail, it may take up to three business days to freeze and unfreeze your credit. Freezing your credit won't solve all of your identity theft worries Setting up the credit freeze was simple enough. But I'm not going to tell you that having your credit frozen is convenient. Here are some downsides to consider. You'll have to unfreeze your credit every time you open a new account Freezing your credit prevents cybercriminals or identity thieves from opening new credit accounts in your name. But it also stops you. To open a new credit account, you'll need to log into your accounts or contact each of the three credit bureaus and temporarily unfreeze your credit. If you're thinking of applying for a new credit card, looking for your first home or thinking of taking out a new car loan, it's probably best to wait until after you've opened the account before freezing your credit. False sense of security Freezing your credit is a good step toward protecting your identity, but it can still be stolen. You may consider signing up for an identity theft protection service. Individual plans typically start from $7 to $15 depending on the level of financial and identity monitoring you want. With an identity theft protection plan, you can monitor your credit, bank accounts and the dark web for your or your family's personal identifiable data, or PII. Alternatively, you can take advantage of free tools at your disposal. Review your monthly credit card and bank statements. Also look at your medical claims history online and on your credit report. You can download your free credit report on It won't stop spam messages If scammers have your phone number or email, you won't be able to stop attempts to scam you out of money in your existing accounts. It's best to block telephone numbers and email addresses from unrecognized senders every time you receive a strange message. Also, take a minute to read messages carefully before clicking on a link. It won't put an end to new credit offers Freezing your credit also won't eliminate the spam mail and prescreened offers you receive. Credit freezes are meant to prevent hard inquiries on your credit, such as lease applications or applying for a student loan. You can still expect to receive offers from credit card companies, insurance carriers and more. Financial institutions you already have a relationship with and debt collectors can also view your credit. Under special circumstances, so can the federal, state and local government. Credit monitoring companies like Credit Karma and Credit Sesame can still provide you with your up-to-date credit scores. You'll still need good password hygiene Even if your credit is frozen, you'll still need to make sure you have good passwords. Be sure not to use the same login information across multiple sites -- using the same login is a common tactic by cybercriminals. If keeping track of your passwords becomes overwhelming, consider paying for a password manager. CNET recommends Bitwarden. It won't protect your bank account information Even if you freeze your credit, it's still your responsibility to protect your bank account information from scammers. If you mistakenly provide any account numbers or login information to cybercriminals, contact your bank immediately and change your password. In the end, I'm glad I froze my credit There are pros and cons to freezing your credit. But with no plans to open a new account anytime soon, it was worth it to me. I also feel safer after doing it. It's nice to know I have thrown a wrench into any cybercriminal's plans. Sure, the spam messages keep rolling in. But I'm fine with being the gatekeeper of my financial accounts. I make a habit of checking my bank and credit card statements regularly. More credit advice
Reuters
5 days ago
- Business
- Reuters
Is it time to say goodbye to capital gains taxes on your home?
NEW YORK, July 25 (Reuters) - This was originally published in the On The Money newsletter, where we share U.S. personal finance tips and insights every other week. Sign up here to receive it for free. Is it time to say goodbye to capital gains taxes on your home? The biggest personal finance story (in my humble opinion!) this week is news that President Donald Trump is considering removing capital gains taxes on home sales. "If the Fed would lower the rates, we wouldn't even have to do that," Trump told reporters in the Oval Office. "But we are thinking about no tax on capital gains on houses." Under current law, homeowners can exclude up to $250,000 (single filers) or $500,000 (joint filers) in gains from the sale of a primary residence. These thresholds haven't changed since 1997, opens new tab! A National Association of Realtors study, opens new tab found that 34% of homeowners (29 million) could already have enough equity in their homes to exceed the $250,000 cap, and more than 10% (8 million) could have enough to surpass the $500,000 threshold. Congress recently passed legislation that made permanent broad tax cuts passed in 2017 during Trump's first presidency. The bill also fulfilled Trump's campaign promises to include new tax breaks for tips, overtime pay, seniors and auto loans. Here is a look at who could gain, opens new tab from an end to capital gains taxes on home sales. What do you think about eliminating capital gains taxes on your home? Would you be more likely to sell your home? Write to me, and let me know your thoughts. Have you noticed lower prices at the pump lately? U.S. gasoline prices could fall below $3 a gallon this summer for the first time in over four years as a stretch of bad weather dampens fuel demand and a jump in imports fills inventories. Gasoline prices are in a lull, a boon for Americans traveling this summer. Consumers endured record prices at the pumps after Russia's 2022 invasion of Ukraine upended energy markets. Summer is typically the peak season for gasoline consumption in the U.S., but demand is lower this year. More fuel-efficient vehicles on the road and post-pandemic changes in driving patterns – particularly remote work – are expected to permanently reduce U.S. gasoline consumption from its peak in 2018. How will lower gas prices impact your driving habits? Coke's shift to cane sugar would be expensive, hurt US farmers Goldman, BNY team up to launch tokens tied to money market funds Trump executive order to help open up 401(k)s to private markets, opens new tab Delta plans to use AI in ticket pricing draws fire from US lawmakers Luxury heavyweights struggle to shake off shopper fatigue What is behind the latest rally in meme stocks? How Americans handle late-career layoffs, opens new tab Preserve capital, don't swing for the fences, portfolio manager says Big Alcohol prepares to fight back as buzzy cannabis drinks steal sales ARE YOU HOLDING TOO MUCH TECH? Is your portfolio bursting with technology stocks? Equity investors are probably overweighted in technology, given the strong performance run of the past two years. Indeed, the stocks that comprise the Magnificent Seven are up almost 25% in the past year vs. 17% for the Nasdaq Composite index. More recently, the performance of the Magnificent Seven (which includes Google and Tesla) is mixed. But they have all rebounded since April from a selloff following Donald Trump's "Liberation Day" announcement of sweeping global tariffs. The group amounted to one-third of the weight of the S&P 500 as of Friday, due to their massive market caps, their largest combined presence since the start of the year, according to LSEG Datastream. My retirement portfolio is invested in target-date funds, which are rebalanced on a regular basis, so the tech position is about 24%, which is slightly below its average peers. Are you overloaded in tech right now or have you adjusted your portfolio in recent weeks? Let me know your thoughts on the Magnificent Seven or the broader tech sector!
Yahoo
7 days ago
- Business
- Yahoo
Prime Alliance Bank review (2025): Market-leading interest rates on savings and CD accounts
Summary: Founded in 2004, Prime Alliance Bank is based in Woods Cross, Utah. Its goal has been to provide businesses and individuals personalized service, similar to what is offered by community banks. Today, it offers deposit products for business and individuals, as well as commercial loans. Its deposit accounts have low minimums and fees, and its savings accounts offer competitive interest rates. Prime Alliance Bank product overview Checking accounts Prime Alliance offers both interest-bearing and non-interest-bearing checking accounts with no monthly fees or minimum balance requirements. Account holders also have access to approximately 100,000 MoneyPass® and Allpoint® ATMs. Although the interest-bearing account pays you for keeping your money parked there, the interest isn't substantial. It offers a tiered APY structure, with rates up to 0.2% APY for balances of $50,000 or more. Personal savings account If your goal is to earn interest, the personal savings account is the right account for you. It offers 4.05% APY on all balances, so you don't need to maintain a certain balance to earn the best APY. There are no monthly fees or minimum balance requirements. This embedded content is not available in your region. Personal money market This account is quite similar to the personal savings account. It offers 4.05% APY with no minimum balance requirement or monthly fees. It also offers unlimited deposits and up to six withdrawals/transfers per month. Certificates of deposit (CDs) Prime Alliance offers a variety of CD terms, ranging from six to 60 months. The minimum deposit for all CDs is $500. These accounts let you earn a slightly higher APY than the personal savings account, which is already competitive. The highest rate is on the six-month CD, which pays 4.35% APY. Prime Alliance Bank fees As a customer of Prime Alliance Bank, you may be subject to certain fees. The following is a breakdown of the common fees charged by Prime Alliance Bank. Up Next Up Next Prime Alliance Bank pros and cons Consider the following pros and cons of Prime Alliance Bank before joining: Pros Low minimums and fees: Prime Alliance doesn't charge monthly fees for its checking or savings accounts, and there is no minimum balance requirement. Competitive interest rates on deposits: APYs are competitive for savings accounts, CDs, and money market accounts. Large ATM network: This bank partners with Allpoint and MoneyPass, giving you access to 100,000 fee-free ATMs. Cons Only one brick-and-mortar location: The branch in Woods Cross, Utah, is the only location. If you prefer in-person banking, this bank may not be the best choice. Not possible to open checking account online: Customers interested in a checking account must apply in person, limiting the number of people who can access them. Customer service and mobile banking experience The bank's hours are Monday through Friday, 8:30 a.m. to 5:00 p.m. Mountain Time. In addition to phone contact, the bank has a fax line, email, and a contact form on its website. Prime Alliance has apps for both Apple and Android devices, although its apps currently have only a handful of reviews. For Apple, it has two five-star ratings with no reviews, and for Android, it has a 3.8 rating with two reviews. Despite having minimal reviews, it has many features you'd expect from a bank mobile app, such as balance information, bill pay, and mobile check deposit. Prime Alliance Bank address and phone number The bank's address is: 1868 South 500 West Woods Cross, UT 84087 The phone number is (801) 296-2200, and the fax number is (801) 296-0300. Frequently asked questions Is Prime Alliance Bank FDIC-insured? Yes, Prime Alliance Bank is FDIC-insured. As its website indicates, it is backed by the full faith and credit of the U.S. government. What is Prime Alliance Bank's routing number? The bank's routing number is 124303081. Is Prime Alliance Bank legit? Prime Alliance Bank is a real bank that was founded in 2004. Its physical location is in Woods Cross, Utah. Who owns Prime Alliance Bank? Prime Alliance Bank is an independent community bank. Its CEO is Michael Ward.
Yahoo
23-07-2025
- Business
- Yahoo
Dave Ramsey Says He Tips Well, But Draws The Line At The iPad Spin. He Calls It A Guilt Trip That's 'Nickel-And-Diming You To Death'
Personal finance expert Dave Ramsey says he's generous with tipping, but there's one thing he won't do: tip when an iPad screen is flipped at him. 'You can flip that screen at me all you want. I'm not tipping,' Ramsey said in a recent episode of 'The Ramsey Show.' However, the hosts went into the nitty-gritty. Tipping Expectations Vs. Guilt Trips The discussion started with a listener's question about when tipping is appropriate in today's world, especially for people who aren't yet financially secure. Co-host Jade Warshaw chimed in first, saying tipping has changed a lot since the pandemic. 'I definitely feel like since the pandemic, tipping has kind of gone into the stratosphere,' Warshaw said, adding that people now face tipping fatigue. Don't Miss: Be part of the breakthrough that could replace plastic as we know it—invest in Timeplast before the July 31st deadline and help revolutionize a $1.3T industry. $100k+ in investable assets? – no cost, no obligation. Ramsey agreed, emphasizing the difference between genuine service and what he views as passive attempts to squeeze out extra money. 'This spin the iPad around is not an exchange,' he said. 'It's a manipulation. I got zero obligations.' Both Warshaw and Ramsey agreed that restaurant servers, hair stylists, and other hands-on service workers deserve tips—and good ones. 'Whenever you're in a restaurant situation where you're sitting down, you're placing an order, there's somebody attending to your table, you should always tip,' Warshaw said. She personally tips 22% and suggests at least 18% as a baseline. Ramsey added, 'Tipping falls in the bucket with generosity. I overdo it to the point that my wife cringes.' Trending: This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — When Tipping Isn't Required But for counter service, the expectations change. Ramsey said he doesn't tip at places like Starbucks (NASDAQ:SBUX) or Chick-fil-A. 'I'm driving through, you're handing me the Jesus chicken out and I'm gone,' he said. And when he picks up food himself? Still no tip. 'I drove. I walked in the rain, got the queso, got in the truck, went to the house. No, we don't tip that,' he said. He also criticized guilt-based donation requests at checkout lines. 'Do you want to give to the wounded pet association or something? No. If I wanted to give to the wounded pet association, I would have already given them money.' Ramsey said he refuses to tack it onto his grocery total just so the store can claim the charitable Generosity Still Matters Despite drawing hard lines, Ramsey emphasized kindness toward workers who are actually providing a service. He tips hotel housekeeping $20 per day, not just at the end of a stay. He tips valets up front and sometimes again when picking the car back up. And he encourages people to tip delivery drivers well, especially if they say they're working to get out of debt. 'They're bringing you food in the rain while you're sitting on your butt. So double their tip, man,' he said. Warshaw agreed. 'When you go to actual restaurants, I feel like, if you can't afford to leave a nice tip, you shouldn't go,' she said. 'No, that's for sure. Because those people are working for tips,' Ramsey added. In the end, Ramsey says tipping should be based on real service and not social pressure. 'It's nickel-and-diming you to death,' he said of the guilt-based tactics. Read Next: Here's what Americans think you need to be considered Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? STARBUCKS (SBUX): Free Stock Analysis Report This article Dave Ramsey Says He Tips Well, But Draws The Line At The iPad Spin. He Calls It A Guilt Trip That's 'Nickel-And-Diming You To Death' originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
