"The faults of the burglar are the qualities of the financier." - George Bernard Shaw

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Bridging the gap between saving money and investing

Flanice Lewis

I finally got Disney Plus to Work and I’m Overjoyed

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I am one of 10 million people that signed up for Disney Plus. My sister and I spoke about breaking down and purchasing Disney Plus on the first day. We both said we wouldn’t do it because it would have issues, and we did it anyway. I almost immediately regretted it once I couldn’t log in and kept seeing error messages but I saw the light.

No Linux-based Devices

As with most streaming services, or highly-anticipated apps, there will be issues. For all the money and effort Disney put into its streaming service, it didn’t work for many of its millions of new users. It doesn’t work in android or Linux-based devices such as Chromebooks. As a Chromebook user that hadn’t read ahead, I was sorely disappointed when I kept receiving “error code 83.” Once I did a Google search, I realized that I wasn’t the only one. There are whole Reddit threads explicitly dedicated to that error. For those that stream on an android-based tablet or phone, this will be extremely frustrating because this will require security changes on Disney’s part. Luckily, I like all types of devices and was able to log in with my personal computer (PC) so I could finally watch “Endgame.”

Error Codes

For Apple, Amazon, Roku, and PC devices, they weren’t without their issues. There were issues loading content, streaming, and even log-ins given the lack of bandwidth. A quick google search reveals at least nine error codes were widely searched since the launch two days ago. Error code 83 means that your Linux device doesn’t meet the security requirements. Error code 73 means you’re in a region that is not currently supported, which is everywhere but the US, Canada, and the Netherlands. Puerto Rico, New Zealand, and Australia should have access starting November 19. Although Australia is about the same size as the lower 48, it has about 300 million fewer people, so hopefully, their launch will be much smoother.

Limited Titles

What’s even more unfortunate is the limited amount of titles available. I’m pretty sure that’s why Disney plus offered a bundle before it even launched. You need at least one other streaming service to have sufficient entertainment. It also explains the $6.99 price tag. Disney previously explained the limited titles by stating they would be released in the future. However, compared to streaming services like the bundled Hulu, or Netflix, the number of titles seems trivial.

Upgrade Your Hulu

Speaking of Hulu, my sister and I compared bundles, and it seemed like she was getting a better deal. I had Hulu with commercials for $5.99. She has Hulu without ads for $12.99. Once she added the Disney Plus Bundle, Disney credited her $12.99, so she’s only paying taxes and fees for Disney+, Hulu, and ESPN+. I immediately switched to the ad-free Hulu package. You might ask why, and the reason is, I can have everything for the same price without the commercials. It is so annoying to get rid of cable and still have ads, but now, thanks to my little sister, I don’t have to worry about it.

 

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Will I Ever Earn Enough?

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earn enough

In my therapy session earlier this week, I was telling my psychologist all my grand plans for my business and the financial goals I’d like to accomplish. As I was explaining to my therapist that I have a full-time job, I blog, I’m a landlord, I’ll soon prepare taxes, and somehow manage to run my business, she became concerned that I was taking on too much. I assured her that many of my jobs could be done from home and don’t require a lot of effort. She then asked me why I work so hard, and did I ever think I’d earn enough.

This conversation could have become an in-depth philosophical discussion regarding money and my need for more of it. However, I don’t require more cash or have a goal to reach a specific salary. On the contrary, my life was simpler when I had less, and I miss those times. My goal is to get out of debt as quickly as possible, so I can have the life I really want.

My Why

I’ve been carrying a sizable amount of debt for two years since I purchased my primary residence and rental property and took out a loan to expand my business. Though I have rental income, the profits don’t make a sizable enough dent in the principal or the mortgages. Therefore, I supplement them with additional streams of income until I can sell the properties. Ultimately, while I’m single, I want to have a tiny house paid for in cash, zero debt, and a puppy.

My Goal

My goal is to be completely debt-free by December 2021. This journey will require sacrifice and plenty of extra income. I realize I haven’t been sticking to my budget like I should and prioritizing my debt payoff. I know I have to get back on track to make my dream a reality. Increasing my income is just one part of the equation. The other part is reducing debt, minimizing expenses, and keeping both of those low.

How Much is Enough?

Personally, without debt, I think I could live comfortably on $50,000 annually or less. I don’t want a big house because that means more maintenance, taxes, and cleaning. The type of vehicle I drive is negotiable as long as it has good gas mileage and low maintenance costs. I spend the majority of my income on housing, traveling, and food. I’m single, and I don’t have any children, so my expenses are minimal at this point, other than my debt payments.

Will I Earn Enough?

To answer her question, I think I already earn enough in the grand scheme of things. I have a high salary and several streams of income. I’m working to make more to eliminate my debt and set up my future earnings. If I can invest well, I plan to live off my dividends. If I can make $50,000 annually in dividends with no debt payments, I should be in an excellent position for a simple life.

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Is the Stock Market Open on Veterans Day 2019?

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The stock market is open on Veterans Day, Monday, Nov. 11, 2019, unlike Federal offices and other organizations that observe the holiday. It will keep regular trading hours, from 9:30 AM to 4 PM Eastern Standard Time (EST), although Bond markets will be closed that day.

Last year, the market was closed on Veterans Day because it was a Sunday. This year-end, the New York Stock Exchange (NYSE) and the NASDAQ Stock Market are closed on Thanksgiving and Christmas. It will be open New Year’s Eve with bond markets closing early at 2 o’clock EST.

Market Holiday Schedule

This year, the stock market has observed several federal holidays and other days of note.

The markets celebrated the following days:

New Year’s Day
Martin Luther King’s Birthday
President’s Day
Good Friday
Memorial Day

Only bond markets close on these days:

Columbus Day
Veterans Day

All markets close early on these days, with stock markets closing at 1 PM and bond markets closing at 2 PM:

The day before Independence Day
The day after Thanksgiving
Christmas Eve

Only bond markets close early at 2 PM on these days:

Maunday Thursday
Friday before Memorial Day
New Year’s Eve

In the coming years, there will be some adjustments because holidays will fall on a Saturday or Sunday. Next year, the Fourth of July will be observed on Friday, July 3. In 2021, the holiday will be celebrated on July 5. The federal government will also keep the same schedule so you can expect office closures and no mail delivery.

Foreign Markets on Veterans Day

Although the NYSE and NASDAQ markets may be open on some holidays, some funds may not trade due to observance of bank holidays. Those affected trades should process the next day the market is open for transactions.

With that said, anyone investing in foreign markets, need not worry about the American holiday schedule affecting their activity. However, you may need to consider international holiday market interruptions. For example, Canadian Thanksgiving would affect the Toronto Stock Exchange.

Why does it matter?

Holidays can affect your trading and investing strategies. The volume of transactions generally decreases around the holidays and summers because investors, traders, brokers, etc. are taking breaks for vacations. This increase in time off commonly means less activity in the markets. During this time, you may see an increase in the time it takes to reach your profit or loss when swing trading.

Don’t let that sway you from participating, though. Historically, the winter months have proven profitable. This benefit is probably spurred on by holiday shopping and increased consumer spending during tax season. Both can boost retail stocks immensely. There is even a phenomenon called the “January effect.” While some are spending, others are selling off stock to offset their gains with losses for tax time. These selloffs can also decrease the profitability of your stocks and trades. However, with the new year, the cycle starts all over again; people begin buying and trading for the current tax period.

If you’re curious, you can look at the different markets in December and January over the years to get an idea of the trends.

If you enjoy reading our blog posts and would like to try your hand at blogging, we have good news for you; you can do exactly that on Saving Advice. Just click here to get started. Check out these helpful tools to help you save more. For investing advice, visit The Motley Fool.

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What Is The User’s Liability For Unauthorized Use Of Total Visa Card?

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If you have unauthorized use on a Total Visa card, you may be in luck. The most you’ll be responsible for is $50, but it’s more likely to be $0.

Total Visa Card Disclosures

The fine print in the Total Visa card disclosures says, “…You will not be liable for unauthorized use of your Card or Account… Certain exceptions apply, and you may be liable for up to $50.00.”

The disclosures go on to discuss the situation when you should call and how to reach them the fastest, which is the toll-free number. The exceptions depend on how quickly you report the card lost or stolen. If you contact the company before the unauthorized use, you won’t be held liable for any purchases made after that. For example, if you lost the card and call before the unauthorized use, you won’t be held responsible. If you contact the company within two days, you may be responsible for up to $50.

FTC Rules

The Federal Trade Commission (FTC) states that if you exceed those time limits, you may be liable up to $500 or more based on how long it takes for you to report the unauthorized charges or missing Card. If it’s been over 60 days, you might be liable for all of the costs. Although, most of this won’t apply to the Total Visa Card because the limit is $300, and the disclosures clearly say up to $50. You can also check your renters’ or homeowner’s insurance policy for stolen card coverage.

Tips to Avoid Paying a Fee

To avoid owing $50 or more with any of your cards, here are some tips. First, always review your statements for any unusual charges. Also, it is a good habit to keep your receipts until the fees have shown on your statement, and you can compare the final costs. Next, once you have found an inconsistency, immediately contact the bank or credit card company. Make a note of when you called to report the discrepancy. The FTC suggests that you follow-up with a written letter or email and track all correspondence. Ask for a delivery receipt if you mail in your letter.

Next, I’d encourage you to look at your previous monthly statements for any other unusual charges, especially small ones. I recently heard of a woman that had several months’ worth of transactions that she missed because they were so little. Her credit card company dismissed them, but that is not always the case.

Avoid Fraudulent Charges

The best thing to do is to avoid potential fraud before it happens. Protect your cards and PINs. Don’t carry every card with you if you don’t need them. Don’t write your PIN down anywhere. Don’t share your card information or PIN. Avoid giving your card numbers over the phone, especially in public areas. Also, don’t give your card information during incoming calls; it might be a scam call. Mark through any blank spots on your receipts so they can’t be filled in later.

If you are using your account wisely and protecting your information, you will reduce your liability. Report any activity as quickly as possible to minimize your payout.

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Financial Abuse and How to Avoid It

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Abuse is a tough topic to discuss. When the conversation happens, you would more than likely hear about verbal or physical abuse. There is another kind called financial abuse. Financial, or economic abuse, occurs when an abuser uses money as a weapon. At first glance, it seems improbable. However, when you understand it, you may realize you’ve seen it before.

What is Financial Abuse?

Credit Karma did a survey that said 10% of those asked were financially bullied in their relationships, meaning that one person in the relationship was using the money to control the other. Examples of this would be demanding the paycheck of their significant other each payday, only providing a specific allowance if they weren’t working, or stealing money. The basis of the abuse is just like any other; it’s one person having power or control over another.

Withholding Money

Recently, a friend told me how her spouse has been displaying abusive behavior. She said that if he were angry, he would withhold the debit card used for bills and groceries. At the time, she was out of work and had no other money. Once she started working again, he became jealous that she made more money. Then, he would pick fights out of his insecurity and try to make her feel guilty for working outside of the home. He sought to manipulate and control her using money.

Taking Over the Finances

Another example of financial abuse is creating big goals and budgets without both partners’ input. This situation is different than when one spouse is better at handling investments. In an abusive case, the abuser will dictate spending on any or all categories, from clothing to food to self-care. Often, we assume the man is the abuser. Women can also be a bully in a financial situation. I know some ladies that take budgeting and saving very seriously; they dictate how much they need from their spouses on payday for a savings account without asking about their needs or goals.

No Way Out

If there is only one income, it can be even more extreme. This situation is where an allowance may be typical, or one partner has to ask the other for any money he or she needs. The National Domestic Violence Hotline states that lack of resources is one of the reasons why victims can’t leave abusive relationships. If you were convinced to stop working, have little to no cash savings, and no credit cards in your name alone, then it would be hard to get a hotel room, let alone an apartment. The abuser could easily cancel a card, close an account, and locate you by the charges on the account.

How to Stop Financial Abuse

The first step in fixing the situation is communication and transparency. Here, both partners need to discuss finances, goals, and budgets. Everyone has their say, and you create the budget together. Any goals should be mutual and benefit both partners.

Then you can decide the best account setup that builds trust and flexibility. Perhaps there need to be separate accounts – yours, mine, and ours. One income households may create a different account for spending. Therefore, the money set aside to pay bills will remain untouched.

Whichever situation allows for healthy boundaries between spouses and finances is the best option.

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Savings Tip: Make Your Clothing Last

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make clothing last longer

Wouldn’t it be great if you could make your clothing last longer instead of paying to replace them regularly? The average adult spends about $1,800 per year on clothes. You could save your self over $1,000 by following these simple tips.

Follow the Care Instructions

In case you didn’t know, the little icons on your garment tags are the care instructions. Depending on the label, they might have even written the instructions down. Either way, figure out what your clothes need and do just that if you want them to make it past one wash cycle. They will give you guidelines for water temperature, wash cycle, bleach, ironing, and drying.

Update Your Routine

Are you doing your laundry the same way you did in college – you toss everything in the washing machine and then the dryer? Beyond the fact that you missed the first step of looking at the tag, you also failed to sort.

make clothing last longer

Sorting

Sorting is usually done by color family to avoid dye transfer, but you also have to consider the type of fabric. Delicates need a gentler cycle to prevent rubbing against the agitator or coarser materials. You might want to forego the washer altogether and handwash them in the sink.

Fabric Softener

Are you washing workout attire? You may want to skip the fabric softener. This additive can destroy the stretchy fibers in your tights and tank, making them ill-fitting. Additionally, it can cause your gear to retain odors or lose their moisture-wicking properties. In other words, fabric softener can defeat workout clothes’ entire purpose.

Drying

Further, everything doesn’t need to go in the dryer. You should hang clothes to dry if you don’t want them to shrink or the tag says to avoid high heat. When hanging them up, you can minimize wrinkles without using an iron. Thus, you can eliminate burn marks or that sheen on the fabric. Again, check the tags to see if you’re supposed to iron your clothes and at which setting. If you must, ironing while damp can alleviate wrinkles better than ironing dry fabric.

Buy Better Clothes

Now that you know how to maintain the clothing you own already, here’s how you find new pieces for your wardrobe. Search for clothing made out of quality, durable material. I know you can find most of the items you’re looking for on Amazon for a fraction of the price. However, you will probably need to replace them next month and the month after that. I’m not encouraging you to spend $100 or more on undergarments by any means. I’m recommending you compare fabric and durability before you invest in the product. You get what you pay for with clothing. If it’s cheap to purchase, it’s probably cheaply made.

Properly maintaining your clothes may take more time, but it will make your clothes last longer. It will also save you money, even with a small increase in your laundry costs. If you buy quality pieces you love, then take care of them, you may have them for years to come.

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