Personal Finance for Young Adults: From Broke to Boss

by Advantage One, posted in book review, Budgeting, Career, Credit, Lifestyle, Saving, Tips & Best Practices

Title: Personal Finance for Young Adults: From Broke to Boss, 7 Simple Steps to Building Wealth, Crushing Debt, and Living Your Best Life as a Financial Beginner 

Author: Kirk Teachout

Paperback: 174 pages

Publisher: IV Quarter Publishing 

Publishing Date: May 14, 2023

Who is this book for? 

  • Young adults trying to achieve financial independence and grow their money.
  • Readers of any age who are still trying to optimize their money management.  

What’s inside this book?

  • A comprehensive guide to financial literacy, including an intro to budgeting, maximizing your career, setting up passive income streams, getting rid of debt and more. 
  • A 7-step guide to achieving financial independence. 
  • How to navigate financial challenges that are typical to young adulthood, like student loan debt and understanding credit scores.
  • Real-life examples illustrating the principles of each chapter.

4 lessons you’ll learn from this book:  

  1. The five most common mistakes when setting financial goals and how to avoid them.
  2. The six best investment types for new investors and how to choose the ones that work for you.
  3. How to get out of debt, and stay out of debt. 
  4. How to utilize the money you make in the best way possible. 

4 questions this book will answer for you:  

  1. How do I build successful passive income streams?
  2. How can I find a great job when I have little or no work experience?
  3. How do I set and achieve financial goals?
  4. Do I really need to think about my retirement when I’m in my 20s?

What people are saying about this book: 

“This book offers good advice for young adults starting out in the financial world. It’s written in a fun and engaging way.”

“Teachout’s focus on young adults is refreshing, and his insights are universally applicable. One of the standout features of this book is the engaging interactivity at the end of each chapter, which helps readers actively internalize the lessons. Approachable and insightful, this book is not only a guide but an empowering journey towards financial literacy. Whether you’re just starting your financial journey or seeking to reinforce sound financial habits, it’s a valuable resource that resonates with readers from all walks of life.”

“The book has a straightforward message: if you put in the time and effort, you can achieve financial freedom. Instead of being a “get rich quick” hoax, Teachout’s strategy is used by many self-made millionaires. Young adults can put themselves in a far better position financially if they get a head start.”

Keeping Employees Engaged

by Advantage One, posted in Career, Lifestyle, Tips & Best Practices

Engaged employees are the life force behind every successful organization. As a business owner, it’s your responsibility to create an environment that keeps your employees engaged and motivated. Here are 10 tips for fostering employee engagement in the workplace.

  1. Cultivate a positive work culture

The tone of your organization starts at the top. Demonstrate the values, work ethic and enthusiasm you expect from your employees. Be approachable and open to feedback. When employees see leadership actively engaged and committed, it sets the standard for the entire team.

  1. Design your workplace around engagement 

If your workplace values collaboration, provide your employees with the space and the technology to work together and to find each other wherever they are. This can translate into couches in a common area, incorporating a collaboration tool, like Slack, and openly encouraging frequent breaks for consulting with co-workers.

  1. Don’t embrace the status quo 

Real change can only happen when you openly admit that change is needed. Don’t let your employees become complacent or they’ll stop trying to outperform today’s best work. It’s a tricky balance, but you can find the perfect blend of pride and the discontent needed to push your company further.

  1. Avoid burnout

When you’re eager to get your employees to love their work, the lines between employee engagement and complete submersion in work can quickly become blurred. Don’t let your employees work so hard they neglect to spend time with their family and friends or pursue interests outside work. This will lead to burnout and a severe decline in their productivity. 

  1. Don’t favor certain personality types

The personality type that is intrinsically optimistic and agreeable will be a more naturally engaged employee. Don’t favor this kind of employee over those who are more prone to moodiness and negativity. The extroverted worker will not necessarily be more productive, and you cannot expect their performance to match their engagement. Conversely, employees who tend to be more negative might surprise you with brilliant ideas and superior performance.

  1. Set clear goals and expectations

Set clear, achievable goals and expectations for your team. When employees understand their roles and how they contribute to the organization’s success, they’ll be more motivated and engaged.

  1. Foster transparency 

Create a culture of open and transparent communication. Encourage employees to voice their opinions, concerns, questions and ideas. Hold regular meetings, provide feedback and keep everyone informed about company goals and performance.

  1. Trust your team

Give employees the autonomy to make decisions and take ownership of their work. Trust their expertise and let them know you believe in their abilities. Empowered employees are more engaged and motivated to excel.

  1. Acknowledge achievements

Recognize and appreciate your employees’ contributions. Simple acts, like saying “thank you” or publicly acknowledging accomplishments, can go a long way in boosting morale and motivation.

  1. Don’t take it to extremes 

If you push too hard, employee engagement can come back to bite you. Yes, your employees should all know how to work well together, but this does not mean your workplace should resemble a high school reunion. If your employees are hyper-focused on getting along, they might forget about getting ahead. Collaboration should be valued in your organization, but it should not be the single defining factor of your company culture.

Employee engagement isn’t just a business strategy; it’s the heart and soul of a thriving organization. Use these tips to keep your employees engaged for maximum success for your business.

TikTok Inspo: How do you keep your employees engaged? Tell us about it in a short video.

How Can I Save on Heating Costs This Winter?

by Advantage One, posted in Tips & Best Practices

Q: It’s that time of year again when the outside temperature drops and my heating bills soar. How can I save on heating costs this winter?

A: We all want to keep our homes warm when it’s cold out, but that doesn’t have to mean paying sky-high heating bills all winter long. There are many steps you can take for keeping costs down while still enjoying a comfortably heated home. Here are six ways to save on heating costs this winter. 

Seal all leaky doors and windows

First, you’ll want to make sure your house is leak-proof. You can test for incoming air by lighting a candle and holding it near each window and door to see if the flame blows in a specific direction. Carefully seal any gaps and cracks with weatherstripping or caulk. You can also cover leaky windows with insulation sheets and put draft stoppers under doorways. For even more significant savings, consider adding or upgrading your home’s insulation in the walls and attic.  Don’t let that warm air escape your home!

Invest in a smart thermostat

If you haven’t already done so, it’s time to upgrade your thermostat to a smart model. A smart thermostat can be controlled through a connected device so you can lower the temperature from wherever you are. You can also set it to automatically lower during specific times of day to maximize savings. Many models will also learn your household patterns and then optimize accordingly.

Insulate yourself and your home

If your house is consistently chilly, take steps to insulate it against the cold. Consider adding rugs to your hard floors and hanging curtains over your windows to keep the cold air out. You may want to invest in thermal curtains or blinds, which provide extra insulation and will help you maintain a comfortable temperature at home. On a similar note, dressing in layers during the winter will keep you toasty and warm without cranking up the thermostat. 

Have your furnace professionally inspected

Calling a professional to inspect your furnace can pay for itself within just a few months. 

Depending on their opinion, the professional may then clean or upgrade your furnace so it works more efficiently. An old and dirty furnace system can work at 60 to 70% efficiency; while a newer, high-efficiency system can work at 90 to 98%. As a bonus, costs for service or upgrades can be offset by federal tax credits and utility rebates are available for many energy-efficient upgrades. 

Let the sunshine in

Make good use of all the sunshine you get this time of year. Open the shades when it’s sunny out to let the sun’s rays heat up your living space. Be sure to close the curtains again at night to keep the cold night air out.

Heat selectively

If you’ve got a large home and not many people living there, chances are you’re spending money to heat spaces that no one uses. Focus on heating the rooms that are frequently used, while reducing heat in lesser-used spaces.  You can use space heaters to warm up specific areas of your home instead of turning on an entire heating zone. You can also close the doors and vents of unused rooms that don’t need heating to minimize waste.

It’s getting cold out, but you don’t need to watch your heating bill burn through your budget! Use the tips here to save on heating costs this winter. 

TikTok Inspo: How do you keep your heating costs down in the winter? Share your secrets in a short video.

Best Times to Buy 1 of 12: Furniture

by Advantage One, posted in Budgeting, Lifestyle, Saving, Tips & Best Practices

Whether it’s high time to replace that secondhand Craigslist couch, or you’re desperate to revamp your outdoor space with a new patio set, you’ll want to get the best deal for your money. Why pay full price on new furniture when you don’t have to? Unfortunately, though, knowing when to look for furniture that’s on sale can be tricky. How can you know when it’s truly the best time to buy furniture? 

Lucky for you, we’ve got the answers. We’ve researched the best times to buy furniture so you can pick up the best deals all year round. Here’s when to buy furniture at bargain prices throughout the year.

February

February is a fabulous time for picking up discounts on furniture. The weeks surrounding Presidents Day tend to feature loads of sales on all kinds of furniture. This month is right at the end of winter in the retail calendar, and stores need to clear their inventory to make room for the incoming spring line. To draw customers into buying the going-out-of-season models, they’ll slash prices and host mega sales.

While you’ll find marked-down prices on various furniture pieces in February, indoor furniture will see the steepest discounts this month. Look for sales on sofas, dinette sets, coffee tables and any of the other pieces for furnishing your home. 

Presidents Day weekend sales can hit way before the actual national holiday, so start looking for price cuts early in the month and follow your favorite furniture retailers through the holiday weekend to snag the best bargains. As always, it’s a good idea to compare prices at several retailers before settling on a specific piece from one seller to ensure you get the best possible deals.

August

Late summer is also a fantastic time for furniture finds. As another end-of-season month, August brings overcrowded showrooms with retailers who are eager to make room for incoming merchandise. Cash in on this need by shopping for furniture in August to land discounts you won’t see just one month earlier.

For the best possible deals, look for outdoor furniture in particular during August. Patio sets and lawn chairs are at their highest pricing in mid-summer, but by the time August rolls around, prices will be dropping dramatically. Deck your outdoors in the finest for the tail-end of the season, or store it for a fresh start next year when winter melts into spring. 

While furniture sales tend to peak in August, you can find discounted outdoor furniture from the Fourth of July up until Labor Day, so be sure to keep an eye out for sales all summer long.

Furniture-buying tips

Whether you’ll be hitting up the furniture warehouse deep in the winter or late in the summer, these tips can help you get your money’s worth:

  • Be patient. You’ll need to live with this furniture for years to come, so don’t jump into a purchase without loving it. It’s worth waiting a few weeks, or even a few months, to end up with furniture you adore instead of stuff you ultimately regret buying.
  • Layer coupons and sales. Always check a retailer’s online site for coupons and discounts before visiting their store. 
  • Be wary of junk from overseas. If you found some furniture online that seems to be too good for its price, there may be a reason for that. Pieces from abroad, especially in countries with little or no government oversight on businesses, can really disappoint. The furniture may be cheaply made and not last long, or look entirely different than it appeared online. Before buying from an overseas manufacturer, research the company carefully, and check online reviews to see if they have a return policy.
  • It won’t build itself. When ordering furniture online, remember that it usually comes disassembled and you’ll need to put it together yourself or hire someone to do it for you.
  • Consider buying secondhand. You can save big on furniture and still get a piece you adore by purchasing pre-owned furniture. Check online resale sites, thrift shops and yard sales for bargain-priced treasures.
  • Give your furniture a face-lift. If brand-new furniture is not on your budget right now but you’re getting sick of your old stuff, you can make it look like new by reupholstering. Pick up materials yourself at a sewing supply store and look up tutorials online for how to reupholster like a pro. In no time and for a very modest outlay, your furniture will be looking like new. 

You may need new furniture, but you don’t need to break your budget! Use this guide to know when to shop for furniture throughout the year.

TikTok In

How do I Prepare for Tax Season?

by Advantage One, posted in Announcements, Lifestyle, Tips & Best Practices

Q: Tax season is coming! I’d like to start preparing sooner than later, but all the forms, numbers and rules are so overwhelming, I don’t even know where to begin! How do I prepare for tax season?

A: It’s commendable that you’ve started getting ready for tax season long before the filing deadline. Preparing well for your taxes can help you maximize your deductions and ensure a smooth filing process. With that said, it can definitely get overwhelming and confusing. No worries, though; we can help! Here’s what you need to do to prepare for tax season.

Gather your documents

The first step in preparing for tax season is to gather all the necessary documents. Depending on your personal circumstances, these can include:

  • W-2 forms. These will be provided by your employer detailing your earnings and taxes withheld.
  • 1099 forms. You’ll receive these income-declaration forms if you’re a freelancer or an independent contractor.
  • Receipts and invoices. These include any expenses you can deduct or claim, including medical bills, education costs, charitable donations and eligible child care costs. 
  • Mortgage and loan documents. 
  • Investment statements.
  • Previous years’ tax returns. 
  • Business income and expenses.
  • Rental income and expenses.
  • Other miscellaneous income, which may include SSA payments, scholarships, gambling winnings, jury duty payment and more. 

Organize your finances

After gathering your documents, organize your finances to make the tax preparation process more manageable. You can store all your documents and receipts in a folder, binder or digital file to make it easy to access them whenever necessary. This will save you time and help ensure you don’t miss any deductible expenses.

Prepare your personal information

In addition to your income information, you’ll need the Social Security number and date of birth of each dependent you claim. It’s a good idea to have this information prepared before you start filing your return. You can also prepare any other details your tax preparer will need, such as the addresses of any rental property you own, the dates of any property you sold last year and more. Be sure to keep this information in a secure location until you file!

Review tax law changes

The tax code changes each year, and some of this year’s modifications may impact your tax situation. Be sure to review the most recent updates so you can take advantage of any new deductions or credits. This can be especially important if you’ve experienced significant life changes during the year, like marriage, birth of a child or a change in employment status. You can find a list of this year’s changes here. 

Determine your filing status

Your filing status determines the tax rates and the standard deduction you’re eligible to receive. Choose the status that best fits your situation. The most common filing statuses are:

  • Single
  • Married filing jointly
  • Married filing separately
  • Head of household
  • Qualifying widow(er)

Selecting the right filing status is crucial for accurately calculating your tax liability.

Learn the deadlines

It’s essential to be aware of the tax filing deadlines. For most individuals, the deadline to file federal income taxes is April 15th. If the 15th falls on a weekend or holiday, the deadline is typically extended to the next business day. If you need more time to file, consider requesting an extension, but be aware that this extension only gives you more time to file, not more time to pay any taxes owed.

Choose your filing method

You’re ready to decide how you’d like to file your taxes. You can file a paper tax return and mail it to the IRS, use tax prep software like TurboTax or H&R Block, hire a professional tax preparer, or e-file your return on your own. The IRS also offers a Free File program that provides free tax software for eligible taxpayers with an adjusted gross income of $73,000 or less. 

Plan for next year

Finally, use the tax season as an opportunity to plan for the future. Consider adjusting your tax withholding to avoid owing big sums at tax time or receiving large refunds. Also, maximize your retirement savings to take advantage of tax-advantaged accounts like 401(k)s and IRAs.

You’re ready to file your taxes!

The U.S. Is the Most Scammed Country In the World

by Advantage One, posted in Announcements, Lifestyle, online security, security, Tips & Best Practices, Uncategorized

A recent report by Social Catfish, an online investigation service, found that the U.S. is the most scammed country in the world. A staggering amount of money was lost to scams in 2022, and that number will likely continue to trend upward, thanks to newly available mediums for scammers, like artificial intelligence (AI). 

The good news is, with the right information, you can protect yourself from being part of next year’s scam statistics. 

Let’s take a look at some of the significant findings of the report, and how you can keep your money and your information safe. 

Who gets scammed the most?

With an astounding 466,501 online scams in 2022, the U.S. leads the world as the country with the most scam victims per year. The U.K., Canada, India and Australia follow as the respective second through fifth most-scammed countries across the globe. 

Of the 50 states, California had the most online scam victims in 2022, at 80,766, with an average of $24,921 lost per victim at a total loss of $2,012,806,866. Florida is next in line with 42,792 victims with an average loss per victim of $19,746. North Dakota takes the prize for the lowest number of scam victims, at just 703. It’s important to note that these are actual numbers and not percentages of each state’s population. Of course, more populated states, like California and Florida, have higher numbers of scam victims than more sparsely populated states, like Montana.

Among age groups, teens and children have seen the largest percentage increase in money lost. Victims in the under-20 age group lost $210 million in 2022, compared to $8.2 million in 2017. Seniors still hold the place as the most victimized group, though, with their overall losses totalling $3.1 billion. 

How much money was lost to scams in 2022?

A record $10.3 billion was lost to online scams in 2022, up from $6.9 billion in 2021. This represents an increase of 277% from $2.7 billion in 2017, according to the FBI Internet Crime Complaint Center. When including an estimate for unreported scam victims, the total money lost to online scams in 2022 jumps to a staggering $200 billion. In addition, the average loss per victim per incident was a whopping $12,859, which is up from $8,142 in 2021. 

The report also shows that 81% of romance scam victims do not come forward. As one of the most common scams, this means there are likely thousands more victims who are not part of the report.

Unfortunately, only 4.2% of stolen funds were recovered, the report shows. The FBI IC3 Recovery Asset Team was only able to recover $433 million of the $10.3 billion lost in 2022. This is largely due to the fact that the majority of scams originated out of the country and out of the jurisdiction of the FBI. 

Where are people getting scammed?

Social Catfish polled 5,500 online scam victims to identify the platforms and apps where people are getting scammed most often. The poll found that most online scams happen on Facebook (32%), Google Hangouts (16%), WhatsApp (16), Plenty of Fish (16%) and Instagram (14%). 

How to avoid scams

Keep your money and your information safe with these protective measures:

  • Keep the security on your devices at its strongest settings and updated with the most recent patches.
  • Never share personally identifiable information, including your Social Security number, banking details and credit card number, with an unverified contact. 
  • When interacting with a new online friend or love interest, perform a reverse photo search on any shared pics to verify their authenticity. 
  • Never click on embedded links or download attachments from emails sent by unknown contacts. 
  • Never wire money to an unverified contact. 
  • Use strong, unique and long passwords for each of your accounts. A password manager can help you generate and remember unbreakable passwords. 
  • Watch out for these red flags in websites, ads and emails: poor grammar and spelling, lack of a physical address and/or phone number, claims of being in the military and/or working overseas, demands to be paid by wire transfer, or in gift card or cryptocurrency and use of a URL that is very similar to a reputable company’s web address.
  • Report any scam and scam attempt to the FTC, IC3, FBI and your financial institution.

The statistics on scams may be frightening, but you don’t have to be the next victim. Follow the tips outlined above to stay safe. 

7 Ways to Cut Back on Amazon Spending

by Advantage One, posted in Budgeting, Convenience, Lifestyle, Saving, Tips & Best Practices

Are you constantly blowing your budget on Amazon purchases? It’s just so easy to spend money on Amazon! You can find millions of products, and with the “Buy Now” tab so tantalizingly close, it takes mere seconds to start yet another random item winging its way to your doorstep as your checking account grows just a tad lighter. Short of giving up the most popular online marketplace in the world, how can you cut back on your Amazon spending? 

The good news is, it’s easier than you think. With the right tools and information, you can learn to spend less at the giant online marketplace and get your budget back on track. Here are seven ways to cut back on Amazon spending.

  1. Use the wish list to delay purchases

Get into the habit of placing must-haves on your Amazon wish list instead of choosing the “Buy Now” option or even moving the item into your cart. This way, you’ll have more time to rethink the purchase and determine if you really want to buy it. Whether it’s another kitchen gadget you really don’t need, an accessory your wardrobe could do without or the fourteenth toy bought for your toddler this month, waiting it out helps you fight the urge of the impulse buy. It also helps you practice mindful, responsible spending.

  1. Take “Amazon” out of your budget

If you’re an avid Amazon shopper, you may have given the online market a prominent place in your budget – but you’re much better off not doing so at all. Having an expense category marked “Amazon” only makes it harder to hold back from overspending. Instead, make sure each purchase you complete on Amazon can neatly fit inside another expense category in your budget, such as clothing, food entertainment etc. Of course, as always, be sure to stick to your allotted budget amounts!

  1. Consider “Subscribe and Save” for essentials

For everyday items that you frequently purchase, Amazon’s Subscribe and Save program can be a money-saving marvel. From toilet paper to pet food, this service offers discounts and convenient deliveries on a schedule you choose. By consolidating your regular purchases, you not only save money, but also time and mental energy. Just make sure you keep this system to essentials only.

  1. Turn off 1-Click 

Amazon’s 1-Click feature may be super-convenient, but it also makes it super-easy to overspend. Remove the temptation to impulse-buy by turning off the feature. Just go to the Purchase Preferences page under Settings in your account and choose to disable 1-Click buying. You’ll now need to take a few more steps every time you make an order on Amazon, giving you more time to rethink the purchase and say no. 

  1. Consider alternatives

While Amazon still holds the prize as the most popular online marketplace in the world, Walmart Plus is quickly becoming a formidable competitor. Launched in 2021, the service has already attracted 25 million subscribers – and for good reason. 

Here’s how the two shopping experiences measure up:

FeaturesAmazon PrimeWalmart Plus
Monthly Fee$14.99$12.95
Annual Fee$139$98
Free ShippingYesYes
Streaming PrivilegesExclusive Amazon Prime streamingParamount Plus subscription
Free Trial30 days30 days
Grocery Delivery$150 minimum$35 minimum
Additional PerksFree cloud storage, release-day delivery, prescription discountsGas discounts, shopping rewards, from-home returns

Take some time to review the features in each plan to ensure you are making the right choice for your needs. You may also decide you don’t need any of these subscriptions at all. Keep in mind that the average Prime member tends to spend far more on Amazon than nonmembers, likely in an effort to justify the subscription price. 

  1. Comparison shop

Don’t assume Amazon always has the best price on every item you can possibly want to purchase. Before making a purchase, do a quick online search to see if you can find the same item at a better deal from another vendor. 

  1. Use tracking tools

Prices on Amazon are known to fluctuate. To capitalize on these fluctuations and grab the best deals, consider using price tracking tools or browser extensions. These tools alert you when the price of a product you’re interested in drops, ensuring you make purchases when they’re at their most budget-friendly.

Yes, you can cut down on your Amazon purchases! Use the tips outlined here to curb your Amazon spending and put your budget in a better place. 

Gen Z and Scams: What You Didn’t Know About the Young and Fraud

by Advantage One, posted in Lifestyle, online security, security, Tips & Best Practices

Quick question: if a scammer was trying to pull off a con on two groups of people, one aged 13-21, and one aged 55+, which group would be more likely to fall for the scam?

If you’d guess the group aged 55+, you may want to think again.

Yes, older adults are a more vulnerable group that is also sometimes less tech savvy than their younger counterparts. They have long been labeled the age group that is most likely to fall for a scam. But it’s time for the young to face the reality that their parents, even if they may not have their own TikTok account or know what a situationship is, do know a thing or two about life. Apparently, experience and common sense born of age are quite the teachers.  

A recent study by Social Catfish, an online investigation service, found that no age group has fallen for online scams at a quicker rate than people under the age of 21. From 2017 to 2022, the money lost by Gen Z grew close to 2,500% compared to 805% for seniors. In total, teens lost $8.2 million in 2017, and $210 million in 2022. While older adults still lose the most money to scams, teens are falling for them with the most velocity of all age groups.

Here’s why scammers are targeting teens, what kind of scams they’re pulling off and what you, as a teen or parent of a teen, can do to protect yourself or your child. 

Why are teens more likely to fall for scams?

It’s often assumed that, as the generation born with a smartphone in each hand, Gen Z is naturally savvy enough to identify online scams. Unfortunately, though, statistics prove otherwise. 

One reason Gen Z may not be able to spot scams is linked to the fact that many of them had a Facebook and Instagram account of their own before they were out of diapers – and this is hardly an exaggeration. While most of us grew up hearing warnings about talking to strangers, they’ve been encouraged to interact with strangers online since they’ve been old enough to type. They’re also used to sharing the details of their lives with anyone who asks (or doesn’t). Is it any wonder, then, that they sometimes share too much information with the wrong people?

Another factor leading to the disproportionate number of Gen Zers who lose money to scams is the simple fact that this generation spends an enormous amount of time online. Consequently, they’re more exposed to scams and more likely to fall for one at any given time. 

Scams teens fall for the most

You won’t find the ubiquitous inheritance and sweepstakes scams in the pool of scams teens are being hit with these days. Instead, you’ll find these, among other, common scams: 

  • Online retail scams. Scams promising free or cheap products that don’t get delivered are as old as the internet itself. But what may surprise you is that 83% of young adults who encounter an online retail scam will fall for it, according to the Better Business Bureau. 
  • Romance scams. Scammers target teens using stolen photos and build up a fake romance. When a relationship has formed, the scammer asks the teen for money. 
  • Sextortion scams. Here, a scammer sends explicit photos to teens and asks for one in return. When the teen complies, they’ll threaten to publicize the photo unless the teen pays up. 
  • Amazon scams. Here, a target will receive a text message from “Amazon” informing them of an issue with the delivery of an item they’ve ordered. Alternatively, it’ll claim there’s a problem with their Prime account. The target will be instructed to share personal information to fix the problem, which will actually give the scammer access to their account.
  • Student loan scams. This scam isn’t new, but will likely increase in prevalence with the recent and upcoming changes to student loan payments. In the scam, fake websites with bogus Department of Education logos trick students into sharing their personal information.
  • Online gaming scams. In this scam, fraudsters impersonate real vendors selling in-game purchases. They’ll ply victims with phishing links, which give them direct access to the victims’ accounts. 
  • Fake check scams. Here, a victim will receive an authentic-looking check as payment for a new job. The victim will be overpaid, and asked to cash the check and refund the extra. Unfortunately, the check will bounce a few days later, and by then, it may be too late for the victim to reclaim their funds. According to the Federal Trade Commission, people in their 20s are more than twice as likely to fall for a check scam. 

How to avoid getting scammed

Here’s how teens (and everyone) can protect themselves from getting scammed:

  • Keep the security settings on your devices updated with the most recent patches. 
  • Keep your social media pages private. 
  • Never share personally identifiable information online with an unverified contact. 
  • Don’t wire money to an unverified contact. 
  • Research the company posting any job you consider, looking for online ratings and reviews, a street address and phone number, as well as possible mention of scams. 
  • Never download a link from an unknown source. 
  • Visit sites directly instead of clicking on a link that’s embedded in an ad. 
  • Check the URL of every site you visit to ensure it’s legitimate, such as Amazon.com and StudentAid.gov. 
  • Choose strong, unique and long passwords for all your accounts. 
  • Be wary of any website, ad or email that features poor writing and has lots of typos. 
  • Stay updated on the latest scams.

Teens are growing up in a fast-paced and tech-obsessed world. It can get scary at times. Use the tips outlined here to help them stay safe.

Five Career Goals to Set For the New Business Year

by Advantage One, posted in Career, Lifestyle, Tips & Best Practices

A new year is approaching, so now is the perfect time to take stock of your career and set new goals for the coming year. Setting well-defined and achievable objectives can help you reach new levels of success and growth in your career. Let’s take a look at five professional goals you can set for the new year. 

  1. Learn a new skill  

Whatever your level of employment, there’s always room for improvement and personal growth. Resolve to learn or improve a professional skill this year to help advance your career. Take some time to analyze your current skill set to find room for improvements and then find an online course or instructional video to help you learn something new. 

  1. Move up in your career

Don’t be afraid to be ambitious this year. Review your current position and determine the best way to achieve real career growth. This can translate into a promotion at your job, striking out on your own or leaving your workplace for a new position elsewhere. Write down your goal and then break it down into the steps you need to take to make it happen. Set a timeline for each of your steps so you can review it throughout the year and make sure you’re on track for it to happen.  

  1. Increase your productivity

Boosting your productivity will turn you into a valued employee who gets more done in less time.Take stock of your current work practices, looking for areas to change for increasing your productivity levels. For example, if you often get sidetracked while answering your email, you can resolve to answer messages only twice a day, or even once an hour. Blocking out time for this specific task can help you keep your focus throughout the day. Also, consider taking steps to avoid distractions, like turning off social media notifications on your phone while at work, or even using an app blocker like ColdTurkey. 

  1. Network more

If you struggle with meeting new people or just want to gain more professional goals, the easiest way to do so is by attending networking events. Developing connections is important to make advancements in your career because you never know when a referral or advice will be useful. If you find it difficult to network, start by connecting with coworkers you don’t speak to often. This is an easy way to build your confidence to attend events and meet others. To make your goal measurable, set a specific number of people to build relationships with throughout the year.

  1. Say yes to opportunities

Don’t be afraid to accept new career challenges! Resolve to say yes to all, or at least most, new opportunities you are offered this year. You may just find that taking more chances opens up the door to career growth that is far beyond your dreams.

Use this guide to set professional goals for the new business year that will help your career grow and thrive. 

TikTok Inspo: What are your professional goals for the new business year? Tell us all about them and how you intend to make them happen in a video.

6 Financial Resolutions for the New Year

by Advantage One, posted in Announcements, Budgeting, Credit, Lifestyle, Saving, Tips & Best Practices, Uncategorized

It’s a brand new year, and the perfect time to set budget-friendly resolutions that can pave the way to a more financially fit future. Whether you’re looking to save for a specific goal, pay down debt or just make smarter financial decisions, these resolutions can help you manage your money more effectively and help provide ongoing financial wellness for the coming year.

  1. Create (and stick to!) a budget

If you don’t have a monthly budget, create one now. Track your spending and income over several months, and then make a list of every ongoing expense along with all your monthly income streams. Assign a dollar amount to each expense category, being sure to include savings and retirement planning. If your columns are equal, or your income exceeds expenses, you’re doing great. However, if your expenses outweigh your income, you’ll need to trim your spending or look for ways to increase your income.

After you’ve created your budget, or if you already have one, resolve to actually stick to it each month. You can use one of the many budgeting apps, like YNAB, to make this easier. Review your expenses throughout the month or at a designated time once a week to track your progress and make any necessary adjustments. 

  1. Build an emergency fund

Did you know that 69% of American households have less than $1,000 in emergency savings? 

An emergency fund is your financial safety net. Without money set aside for an emergency, an unexpected expense can easily send you spiraling into debt. Experts recommend having three to six months’ worth of living expenses in your emergency fund. This will provide you with peace of mind and the financial security to get through surprise expenses.

Resolve to build an emergency fund this year by setting aside a small sum of money each month until you have a nest egg that can get you through virtually any emergency. 

  1. Trim your expenses

Take a long, hard look at your spending habits. Have your expenses started trickling upward in any area(s)? For most people, expenses will continue to rise with the passage of time and with changing life circumstances unless they make a conscientious effort to control it. Reviewing your spending is the first step in reigning those numbers in. Identify your weak areas and brainstorm for ways to start spending less. For example, you can resolve to start eating out less, cut down on some subscriptions you don’t really need and/or make your own household cleaning products. Remember: Small change today adds up to big bucks tomorrow.  

  1. Pay down debt

High-interest debt can be a big burden for any budget. In addition to paying interest that essentially goes nowhere, the money paid toward debt could be channeled into savings or investments that can grow significantly over time. 

Make this the year you pay down debt, or at least make real headway toward getting rid of it for good. You can choose to prioritize high-interest debts, like credit card balances or personal loans, or work on paying off your smallest debt first to keep your motivation going. Trim your spending and/or increase your income and use the extra funds to maximize payments on your chosen debt until it’s paid off. Then, move on to the next debt on your list until you’re completely debt-free. 

  1. Automate your savings

It’s all fine and wonderful to resolve to put more money into savings each month, but how do you turn those good intentions into reality? The answer is simple: by automating your savings.

Set up automatic monthly transfers from your checking account to your savings or investment accounts so you never forget to feed your savings again. 

  1. Expand your financial education

Financial literacy is an invaluable asset. Invest in your financial education this year by reading books, taking online courses, listening to podcasts or attending seminars on personal finance. Understanding concepts like investing, taxes and retirement planning will empower you to make informed decisions that can help ensure a financially secure future.

TikTok Inspo: What are your financial resolutions for the New Year?