Monthly Archives: April 2018

De-Junk the Digital – Spring Cleaning Your Cyber Life

clean

It’s that time of year for the highly anticipated or dreaded, Spring Cleaning! While you may be noticing the cobwebs in your ceiling corners as you begin writing your cleaning checklist, it’s just as important to clean out the digital cobwebs at least once a year! If you have no idea where to start, don’t fret, we have created an easy list for you to chip away at in one day without too much elbow grease.

Why?

Why is it important to de-junk your digital life so often? The first reason is safety. You can’t be cyber-safe if you aren’t an active participant in monitoring your own data and safeguarding it from potential hackers. Second, those precious family photos from last year’s vacation could be gone in an instant if you don’t back up data most important to you. Lastly, re-evaluating your storage, web plans and physical devices can even save you money!

Data Bugs

Just like house cleaning, start with the toughest and most dreaded “room” first. For your house, this might be your bathroom, or for your digital life, it’s your files. Get those pesky and unnecessary files deleted off of your desktop and organize the important ones into folders. Don’t forget your downloads folder, as items seem to multiply quickly in there.

Consider utilizing cloud storage where you don’t have to worry about your files being held hostage (Ransomware). Invest in secure backup services and double check that you are up to date on your security software. Not only is your information up for grabs from scammers, but you could even be storing personal information about your friends that could threaten their web security as well. Cleaning this up will give you the peace of mind that you’re protecting others as well as yourself.

Spam Sweep

We all have that junk mail that keeps piling up. Instead of just deleting them, save yourself future time by unsubscribing from all of the non-essential sites. You don’t want to open up emails that could be potential threats to your security. Find all of your old email accounts that you no longer use, and close them.

Even having additional information available about yourself out there and not monitoring it can cause a huge headache later. Keep it squeaky clean. Just like ridding your home of junk, less is always more when it comes to your private information. Safeguard it. Protect it.

Old Passwords:  Bite the Dust

It’s time to have new passwords for all of your accounts. Each account should have a different password, and if you have a hard time remembering all of these, try out a (SAFE) online passwords manager. There are a variety available, but make sure to do your research before you choose one.

Squeaky Clean and Smart (Phone)

Similar to your computer, delete any phone apps that you no longer use and make sure all of your photos are uploaded on the a cloud based service. Do you have your phone password protected? If not, put one on immediately, or update it if it is a numbers-based log in. Take a look at your current phone plan, and see if it’s time to reconsider your plan or provider for better services or price.

Scrub a Dub Devices

Lastly, it may be time to recycle your old gadgets you aren’t using any more. Maybe you can make money off these items! If not, it’s still a great idea to go through even your oldest devices and scrub them clean of your personal information.

Utilizing these digital decluttering tips, you can start with a clean slate this spring!

Is Politeness Costing You Money? 6 Money Manners to Quit Now

polite

“Politeness costs nothing and gains everything,” said Lady Mary Wortley Montagu. Many have been told or even repeated this saying. However, does it hold true? Not when it comes to these manners with money. There may be some moves you are making, or have been taught to make from a young age that can cost you more than what you intended, for little social benefits. Here’s the top 6, and how to avoid them!

  1. Not Asking for Your Money Back

If you are dealing with a retail situation where you were either charged more than you agreed to, or were the recipient of a faulty product, being assertive over being overly polite is what is going to help make things right.  According to a Marchex study, 79% of callers are polite, but only 57% of agents show the same courtesy. If the representatives are not likely to be polite with you, certainly don’t be overly polite by giving up getting your money back. Definitely still be respectful, but stay firm to get what is owed to you!

It can get even more sticky when it comes to your relationships, if you lent money to a friend (see #3). If you did break the rule and loaned money, don’t be afraid to ask for your money back if they already agreed to do so at the start.

  1. Always Chipping into Group Gifts

If it seems like you are giving money as a part of office birthday gifts or other social group gifts, know that you don’t have to participate! Be creative and try to find other ways to celebrate the individual or ways to cut down on the amount contributed. Maybe you celebrate all of the birthdays once a month, instead of every week!

  1. Loaning Money to Friends and Family

If you have certain friends who think you have extra to spare, you may find them consistently asking you for interest-free loans of varying amounts, because 1) you always say yes 2) they know you won’t hound them about repayment. It can be compelling to say yes to those you love, but in addition to jeopardizing the relationship, you are much less likely to get your money back from those you know. It can sacrifice your own security, and in some situations, enable them to make poor money decisions. Having this as an always “no” will prevent people from asking, and get you off the hook!

  1. Participating in EVERY fundraiser

So your best friend’s cousin’s child is having another cookie fundraiser along with 5 other coworker’s children. Trying to be polite by buying from everyone gives you items you don’t need that should be invested somewhere else. There are many things that we pay for because we have been told we are “supposed to” even though we can’t afford them.  These small yes’s can really add up! Next time, work on the amount you are wanting to donate into your budget, so you know what you can afford and what you can’t. When it’s gone, it’s gone!

  1. Eating Out With Friends Every Week: Splitting the Bill

Of course you love getting a bite with friends, but eating out is expensive! Maybe you say yes so you won’t get left out, or so nobody will feel snubbed. It can become even more problematic if your politeness keeps you from saying no when your group wants to split the bill evenly, even though you only ordered a side salad while the rest ordered appetizers, drinks and dessert. Let your friends know ahead of time that your entertainment budget only allots a certain amount, so you will be limited to the number of times you will go out, and that you will be paying for only what you order.

  1. Not Asking for That Raise

If you aren’t asking for a raise at work, for fear of damaging a working relationship, you are hurting yourself and wealth extensively. Continually shying away from asking for extras will put you more and more behind of where you want to be and should be. Do you know who gets extra perks and bonuses? The people who ask for them! Make a list of why you have earned what you are asking for, and be sure to ask for it at least once a year! You may not get everything you ask for, but a good employer will work with you to not lose a confident and respectful employee.

Politeness is a valuable trait in many situations, but knowing when manners are hurting your pocketbook is key to accruing wealth for your future.

How to Stay in Debt – Crushing Habits

habits

Nobody wants to be consumed with worrying about their finances. Debt for most people is a fact of life. Unless you have a stroke of luck with the lottery, or a Daddy Warbucks, you are probably unable to pay cash for life’s most important purchases: a car, house or your college education. The goal with debt is to take on good debt that will provide opportunities and income advancement. Bad debt is purchasing items with no return on your investment, with their value quickly depleting.

Bad debt is associated with stress, financial insecurity and depression. Even a few months of poor decision making can straddle you from upward mobility for a long time. If you are looking to stay in this zone for years to come, we have delivered a list of habits those succumbed to debt do daily!

Thinking Money is the Problem

The financially insecure think that the reason they have so many problems with money is because they simply don’t make enough. It’s their employer’s fault. It’s their spouse’s fault. They don’t realize that whether or not they make $20k a year or 200k, they will forever be in debt if they don’t begin to take charge of their finances.

Tossing the Unopened Mail

The deeply indebted feel too overwhelmed or bored to read their credit card and checking statements. By doing this, they stay in a fantasy world where they spend more money than they have.

No “Uh-Oh” Fund

A great way to get yourself into unhealthy debt is by not establishing an emergency fund. If you lose your job or need a new transmission on your car, you may need to go further into debt just to get through the tough situation.

Treating Yourself (Daily)

While splurging on yourself happens to the best of us, it becomes a major problem if these impulses snowball into unnecessary debt, dinners and belongings you do not need.

Lifestyle Inflation

One of the biggest problems with Americans is the Lifestyle Creep. As their income increases with time, so does their spending. This inevitably leads to never really gaining wealth, because it is spent, spent, spent. Big debtors love those raises and can’t wait to spend them on more items they do not need.

Thinking Budgets Are for Poor People

This couldn’t be further from the truth, as those who are wise with their money have a budget that they stick to. Not having a budget is a plan to overspend and never truly understand your finances.

If you are looking to stay in debt long term, follow these habits. If not, run from these patterns and seek guidance from the financial experts at Timberwood Bank!

Are All Inclusive Vacations Worth It? Save Money on Your Next Trip

vacation

Has it just felt too long since your last vacation? Are you peeking around the corner to plan your perfect getaway? If so, then planning far in advance can help get you one step closer to sipping that Mai Tai on the beach for a fraction of the price. However, it can be challenging to know which avenue to take between the romanticized all- inclusive vacations or scouting it out on your own. It can be especially more difficult when your dream vacation is limited to a tight budget. You don’t want to end up eating more costs than planned.

All inclusives seem like a great idea if you want to know the exact costs before leaving. However, the biggest risk with them are the hidden costs, so be informed to make the best decision for your budget. We have considered the potential hidden costs of all inclusives, so you are able to make an informed decision that works for you!

Travel

This might seem like a no-brainer, but most all inclusive resorts will require a flight. If you are leaning towards a cruise, you will have travel time to the port, but from there will be reliant on the ship to get you to your many destinations. Any travel beyond will require an additional expense. Is your parking included once you arrive? The owners will pride their resorts as a place you will never want to leave, so additional travel should be minimal. However, if you prefer more spur of the moment adventures, this may not be for you.

Food & Drink

If a deal sounds too good to be true, it most likely is. Remember that discounts may be there for a reason. You will not be happy to find out upon arrival that half of the resort is under construction, so ask questions. At an all inclusive resort, the idea is that you don’t have to carry around cash or card once you get there. All of the drinks and meals should be 100 percent covered….within the limits of your packaged deal. However, you run the risk of having average food, with repetitive meals. Want that fresh lobster? There may be an additional price. For specialty restaurants that are included in the costs, you may have to make a reservation which can be difficult to do in advance. Drinks beyond coffee, juice and tea may come at another expense, so be prepared to pay for alcohol.

Excursions

You are going to want to read the fine print of what activities are included in the price. Things like massages, scuba diving and boat rides are most likely going to cost you extra. If you are fine with soaking up your time relaxing on the beach and enjoying the nightly provided entertainment, this won’t be an issue!

Environment

All inclusives are not meant for the traveler who likes being exposed to other cultures. You are primarily going to be spending your time with others similar to you. The places your cruise ship ports at are often times large operations that do not always benefit the local economy. If you are a traveler who prefers to enjoy your time away without the stress of adapting to a different culture, all-inclusives might be for you. You won’t have to worry about scouting for transportation, getting lost or language barriers.

It’s important to realize that all-inclusives may not be cheaper than a non-inclusive vacation. However, they may save you the time and energy it takes to plan out every detail of a trip. The potential savings from a DIY method may not be worth the energy to some. The most crucial part to making sure your money is well spent is to read the fine print of every purchase agreement you make for your vacation. Tipping, Wifi and a resort fee may be added onto your bill at the end of your stay and we want to help you avoid that!  In this way, you can have a blast on your trip, and NOT your wallet!