Tag: money

Financial Lessons You Can Learn from Fantasy Football

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

As summer winds down with autumn creeping closer, it’s time to start thinking fantasy football! Drafting the best team and guiding them toward the championship takes knowledge, dedication, skill and real talent. Do you have what it takes to be a fantasy football champ?

Whether you do or do not, know that fantasy football is so much more than just a super-absorbing hobby. You can actually learn a lot about money management and growing your wealth from the game. Here are five financial lessons you can learn from fantasy football.

  1. Do your research

Every fantasy football aficionado can tell you that your team’s performance throughout the year significantly depends on that one day (typically) in August: Draft Day. Knowing which NFL players to “draft” to your team is crucial to its success. If you sail into this uber-important day unprepared, you’re essentially setting yourself up for failure. Instead, in the weeks leading up to draft day, the true fantasy football pro knows to listen to podcasts from training camps, research potential trades and learn about past performances of various players. Come prepared for draft day and you will make better decisions. 

In personal finance, the rules are similar. When choosing a place or company to “draft” for sinking your money into, you’ll want to do as much research as possible and ask lots of questions: Is this investment secure? Is this company projected to experience growth over the next few years and beyond? What kind of annual gains can I expect to see from this stock? What values drive this company’s culture? Find out as much as you can about any potential investment before forking over your money.

  1. Diversify

In fantasy football, it’s important to diversify your team and to draft players who excel at various positions in real life to ensure the most wins. In finance, diversification is even more important. You’ll want to spread your investments over a mix of whole-market funds, securities and savings accounts. The more exposure your portfolio has among various asset classes and markets, the more protection it has against market volatility and inflation.

  1. Keep your investments private

To a true fantasy football manager, there’s no conversation topic as exciting as the team they’ve drafted and the wins they’ve scored. But to the uninitiated, there’s no conversation topic that can put them to sleep faster than your fantasy football league. Find like-minded fans to talk shop with, but otherwise, you’re best off keeping your observations and insight on the game to yourself.

Investments are similar. You don’t want to be the drag of the party, the office or the block. Talk about your stock performance with your partner, your financial advisor and maybe your mother. Otherwise, keep it to yourself.

4.   Don’t let personal biases impact your investments

It’s hard to leave your personal feelings and opinions behind when drafting players for your fantasy football team. You might want to pick your favorite quarterback, even though there may be one that’s more likely to put up massive stats available to draft. Or maybe you’ll plan to pick players from your favorite team, no matter what they are likely to produce during the season. Or maybe you’ll pass on a top-tier player simply because he’s on the rival team of your favorite. However, the real fantasy football pro knows to ignore personal biases like these and to focus on the skill of each individual player when drafting your roster. 

This rule parallels perfectly in the world of investing. Investors sometimes let their own biases get in the way of making sound financial decisions. For example, they may choose to keep their money in a stock that’s performing poorly because they’ve always loved the company. Or, they may feel personally invested in a stock they’ve purchased, but have a hard time letting go when it is clearly time to sell. To be a successful investor, it’s crucial to leave all personal biases behind when making decisions. 

  1. Assess your financial health throughout the year

While the decisions you make on draft day will have the biggest impact on your team’s performance throughout the season, the fantasy football pro knows how important it is to continuously monitor the performance of each player in real life. There will always be players who get injured, teams that change their strategies or don’t use your chosen player much and players who simply have unproductive seasons. You’ll need to keep an eye on what’s happening so you can make the best decisions regarding potential players on the waiver wire (players who are not on anyone’s team and generally available for any team to add) going forward. 

Financial health is never a set-it-and-forget-it affair. To achieve and maintain true financial wellness, you’ll need to monitor your budget, savings, spending habits and more throughout the year. It’s not enough to give your financial wellness a check-up at year’s end; review and assess your money management every few weeks for the best results. 

Fantasy football–it’s so much more than an addictive hobby! Fantasy football can teach you financial lessons for life. 

Your Turn: Which financial lessons have you learned from fantasy football? Share them with us in the comments.

What to Buy and What to Skip in September

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

Get ready for savings on big-ticket items this month! Retailers are looking to bring the crowds back after the big back-to-school storm has passed, and bargain prices are always a great way to attract shoppers. They also need to clear shelves before the holiday season blows in with its shopping frenzy. Add in the Labor Day sales that kick off the month, and it means big savings during September – but not on everything. Here’s what to buy and what to skip in September. 

Buy: Mattresses and bedding

Mattress sales practically give Labor Day its awesome name, and for good reason. You can find crazy-deep discounts on mattresses this month at almost any retailer that sells them. Top off the deal with some bedding and bath supplies, which are also selling at bargain prices. Be sure to start comparison-shopping at least a week or two before Labor Day to snag the best deal. After all, if you snooze, you lose. 

Skip: Halloween costumes and decor

Retailers might have you thinking Halloween is tomorrow, but you still have plenty of time to prep for Oct. 31. Though Halloween costumes and decor will hit the stores this month, it’s best to hold off on these purchases until October rolls around, as that’s the earliest you’ll start seeing scary-low discounts. 

Buy: Airfare

Since the days are getting shorter, it’s time to think winter! The holidays will be here before you can blink, and if you’re looking to grab airline tickets at a great price, you may want to shop for them now. The best deals on plane tickets usually show up eight weeks before the travel date, and for Thanksgiving, that means you’ll need to buy tickets in September. Look out for deals on tickets at the end of the month to save big on your travel plans. 

Skip: Autumn wear

It’s too early in the season for slashed prices on clothing. Pick up some essentials if you must, but you’re best off waiting until October or November to shop for your complete autumn wardrobe at sizzling-hot prices.

Buy: Plants

Hold onto summer a little bit longer with some vibrant greenery. All summer plants, trees and shrubs will be retailing at dirt-cheap prices this month as garden centers make room for autumn and holiday plants. This can be a terrific time to upgrade your property’s landscaping with some well-placed perennials. You can also find some fabulous deals on summer flowers, though you may not have much time left to enjoy them.

Skip: Electronics

Labor Day might bring some incredible deals on big-ticket items, but electronics aren’t among them. Instead, TVs, headphones, audio systems and more tend to see their lowest prices during Black Friday sale events. Wait just a little bit longer and you can snag a fantastic deal on an electronic item you’ve been eyeing for months. 

Buy: Denim

Jeans are a hot item during back-to-school shopping. Come September, retailers will slash prices to unload their unsold inventory. Cash in on a great deal by shopping these sales for a new pair of denim jeans this month. 

Buy: Beauty and skincare products 

Early autumn is a great time to stock up on beauty and skincare products. As college students pack up to head back to the dorm and consumers pick up skincare routines, prices may have dropped over the summer. Look for price cuts on products like shampoo, body wash, moisturizer and all kinds of cosmetics from Labor Day and on. 

It’s back to school, back to work and back to savings this month! Use this guide to know what to buy and what to skip in September. 

Your Turn: Have you picked up any great bargains in September? Tell us about them in the comments. 

Should I Use a Credit Card at the Pump?

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

Q: Is it a good idea to pay for gas with a credit card? 

A: On average, Americans pump close to 392 million gallons of gasoline a day. That’s more than a gallon for every American! Each day! With fuel prices spiking, you want to make sure you’re paying for that gas in the best manner possible. Many people reach for a debit card or cash when filling up on fuel, but there are several key advantages to using a credit card to pay for gas. Here are four reasons you may want to use your credit card at the pump. 

  1. Paying with plastic makes it easy to track your spending

Cash leaves no paper trail. Once you’ve spent it, you have no way of knowing where that money went unless you actively record the expenditure at the time of the purchase. When you pay with plastic, though, there’s always a record of the transaction. You can review your spending habits, or calculate how much you are spending in one budget category (transportation) to help you stay on top of your finances as best as possible. Just check out the credit card statement at the end of the month or billing period to see how much you’ve spent on fuel costs. 

  1. Earn rewards for every gallon

If you own a credit card that offers rewards or miles for every purchase you make, you can earn a lot of rewards by using your credit card to purchase the gas you’d buy anyways. In just one year, you may have enough rewards or miles to fund a full vacation! Just make sure to choose the card that offers the most bang for your buck.

  1. Fraud and theft protection

When it comes to protecting your funds from fraud, credit cards are the number-one choice of payment methods. Unlike payments made in cash or with a debit card, a credit card purchase can always be disputed if found to be faulty. Many cards offer a zero-liability plan in cases of fraud as long as the credit card company is notified within a predetermined amount of time. Finally, paying with cash always carries the risk of theft, but a stolen or hacked credit card account can easily be closed. 

  1. Free up your money

When you choose to pay with a debit card at the pump, you’re choosing to put your money on hold. Gas stations present a unique risk to their owners, as the consumer can fill up and drive away without paying. To avoid this form of theft, gas stations will immediately authorize cards by placing a hold on the debit card account as soon as the consumer initiates the transaction, which is before they’ve even begun to pump fuel into their car. The hold is generally between $50 and $150. After the consumer has finished pumping gas, the card will be charged for the appropriate amount. However, the hold on the card may not clear for several days. If you need every dollar in your account immediately after paying for gas, you may want to use a credit card rather than a debit card at the pump. 

Many drivers choose to pay for gas with cash to save on surcharges that some stations issue for payments made via credit card. However, if you use a rewards card and get cash back on every credit card purchase, the small surcharge can be more than offset by the rewards. In addition, some stations will waive the surcharge upon request. 

It’s important to note that, as always, credit cards should only be used responsibly, even when paying at the pump. Only use a credit card if you know you will be able to pay the bill in full before it’s due. Otherwise, the interest charges you’ll accumulate mean you’ll be paying for far more than the actual price of gas.

Using a credit card to pay for fuel can have unique advantages over other payment methods. The next time you’re at the pump, consider pulling out your credit card instead of paying with a debit card or cash. 

Your Turn: Do you use a credit card at the pump? Why or why not? Tell us about it in the comments. 

Step 6 of 12 to Financial Wellness: Pay it Forward

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

[Now that you’ve started paying down debt, you and your partner have tackled big money issues, and you’ve mastered the art of spending mindfully, you’re now ready to think beyond your own needs by learning how to pay it forward.]

Money management can sometimes feel inherently selfish. You’re earning, budgeting, saving and investing, all so you and those you love can enjoy a worry-free life on your own standards. But there is so much more you can do with the money you’ve been blessed with – as well as with your time, talents and possessions. Let’s explore five different ways you can make the world into a better place by paying it forward. 

  1. Donate funds to your favorite cause

The classic way to pay it forward can also be the simplest. Find a charity or two that speaks to your heart and make a donation that fits your budget. Ideally, it is substantial enough to make a difference, but any amount you are able to responsibly commit adds value and is appreciated. Be sure to verify the authenticity of the organization on a charity-vetting site like, BBB Wise Giving Alliance, Charity Navigator or CharityWatch. Don’t forget to save your receipt so you can claim a charitable-giving deduction on your taxes. 

  1. Commit to do one random act of kindness each day

Kindness doesn’t have to be big or loud to make a difference. It doesn’t even have to be costly. Small things that mean a lot can really make someone’s day. You can offer to make a coffee for your coworker, feed a parking meter that’s about to run out for a stranger’s car, remove a branch or rock from the middle of a busy thoroughfare or walking trail, or let someone go ahead of you at a checkout counter. There’s so much you can do when you look to give. 

  1. Write thank you letters 

When was the last time you thanked your child’s teacher for doing such a fantastic job on providing your child with an education? When was the last time you thanked your parents for giving you life, a happy childhood and their ongoing love and support? When was the last time you thanked your mailperson? Pick up a nice set of thank you cards and spend 20 minutes writing thank you cards to the people in your life; those who do so much for you, but aren’t always thanked for everything they do. Your letters will likely be cherished by the recipients for many months to come. 

  1. Donate your time 

Unfortunately, there are numerous people in this world who are suffering from sickness, poverty, loneliness, mental health challenges or other hardships. With just a small donation of your time, you can help alleviate some of their suffering. You can volunteer at a soup kitchen, help bring cheer to hospitals, offer to babysit for a couple who is going through hard times so they can have a night out to themselves or make a habit out of visiting a lonely person. You can brighten someone’s day with your presence alone!

  1. Share what you have

Aside from money and time, there are so many ways you can use what you have to bring cheer into someone else’s life. You can donate old clothing to Goodwill or gift a friend or neighbor with a full set of your child’s outgrown clothing if it’s still in great condition. Offer to lend out your books to your bookworm friends. Run a low-cost, or even no-cost, yard sale for all the toys, furniture and other items in your home that you don’t use any longer. Share your unused sports equipment with children who are less privileged than yours.

There are so many ways to pay it forward and make the world into a better place. And when you give to others, you’re really giving to yourself by learning how to be a better, kinder person. 

Your Turn: How do you pay it forward? Share your best ideas with us in the comments. 

Don’t Get Caught in a Shopping Scam!

by Advantage One, posted in Announcements, App Reviews, Budgeting, Checking, Convenience, Credit, Debit, Lifestyle, News & Events, online security, Saving, security, Tips & Best Practices, Uncategorized

Shopping in 2022 is worlds away from what it was at the turn of the century, or even just a few years ago. According to retail research firm, Digital Commerce 360, ecommerce sales surpassed $870 billion in 2021, a 50% jump over 2019. Online shopping is quick, easy and convenient. 

Unfortunately, though, when a lot of shopping moved online, it also ushered in a wave of scams that are often successful. Some of these scams can be difficult for the untrained eye to spot, and many offer no way for the victim to reclaim their lost funds. Here’s what you need to know to recognize an online shopping scam and avoid being the next victim. 

How these scams play out

There are several variations to the online shopping scam. 

In one version, a shopper will scour the internet for a specific item in their desired price range. They’ll find the item retailing on a site at an attractive price and then proceed to make the purchase. They’ll share payment information, input their delivery address and complete the transaction. Unfortunately, though, the item never arrives on their doorstep. Alternatively, a cheap knockoff of the product will arrive instead of the item they’ve purchased. When the buyer tries to demand a refund, they are unable to reach the seller. 

In another variation, a shopper finds an item online and tries to make a purchase. They’ll be asked to input sensitive information, such as a credit card or checking account number. At this point, the shopper will be unable to complete the transaction and will continuously run into errors on the site. However, the scammers now have their information and can proceed to empty the victim’s accounts, or worse.

In a third version of the online shopping scam, a seller clicks on an ad, or on a site that came up in a Google search for one of their favorite stores. They’ll proceed to make an order, not knowing they’ve actually clicked into a bogus look-a-like site run by scammers. The rest of the scam will follow one of the scenarios described above. 

Red flags

Watch for these warning signs that you may have stumbled upon a shopping scam:

  • Prices are too good to be true. If you find an online offer for a new iPhone retailing at just $450, you’re likely looking at a scam. 
  • The offer urges you to act now. If an offer warns that the bargain prices it’s offering won’t last until sundown, it’s likely a scam. 
  • The seller demands specific means of payment. If an e-tailer insists that you pay via prepaid gift card or wire transfer, opt out. 
  • The website is full of typos and grammar errors. If the site is badly in need of editing, it may be run by scammers. 

Stay safe

Follow these tips to keep yourself safe from online shopping scams:

  • Only shop on safe, secure sites. Check the URL for the lock icon and for the “s” after the “http”.
  • Check the URL for proper spelling of reputable sites. Make sure the URL of the site you’re on matches the authentic URL for that retailer and that you haven’t landed on a spoof site. You may want to save the genuine URLs on your computer for future use. 
  • Avoid clicking on high-pressure pop-ups and banner ads. These are often scams.
  • Pay with a credit card when shopping online. A credit card offers the most protection for your purchases. 
  • Never share personal information with an unverified contact. Don’t input your credit card number or account details unless you’re absolutely sure you’re dealing with a reputable website. 

If you’re targeted

If you’ve fallen victim to an online shopping scam, there are steps you can take to mitigate the damage. 

If you’ve paid via credit card, call the company to dispute the charge. At this point, you may want to consider closing the card and placing a credit alert and/or a credit freeze on your name. Next, alert the FTC about the scam. If the alleged retailer is on the BBB website, you can let them know, too. Finally, let your friends know about the scam so they know to be aware.

Stay safe!

Your Turn: Have you been targeted by a shopping scam? Tell us about it in the comments. 

4 Ways to Stay Financially Fit this Summer

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

Ahh…summer! The season of flip-flops and sunscreen, of lemonade and baseball games. What’s not to love about summer?

Unfortunately, though, summer is also the season of overspending for many. When the sun is blazing across a cloudless sky and the day stretches on with endless possibilities, purse strings are looser and cards are swiped with abandon. But nothing kills summer fun like a busted budget and a mountain of debt. So, how can you stay financially fit this summer?

Keeping your finances intact throughout the summer is well within reach if you’re ready to plan ahead and make responsible choices. Here are four hacks for a summer of financial fitness. 

  1. Prepare for a possible change in income

If you’re a freelancer, business owner or you get paid per diem, you can expect to see a drop in income during the summer months. Business is notoriously slower across a wide range of industries during the summer, so it’s best to be prepared for this reality. To avoid dipping into savings or going into debt, you can trim your discretionary spending and use the extra funds to cover non-discretionary expenses. You can also choose to find a side hustle for the summer to cover the gap in your income. 

  1. Get your budget ready for summer

Your budget will see some changes in the summertime, and it’s a good idea to prepare in advance instead of being caught unaware. Here are some changes you can anticipate:

  • Higher utility bills. With the AC blasting, your energy costs will likely be higher. Water costs can rise, too, especially if you water your lawn and any outdoor plants and flowers on a regular basis. 
  • Increase in fuel prices. Just when you thought it couldn’t go any higher, the price of fuel is likely to jump again in the summer. 
  • Travel expenses. Of course, if you’ll be traveling this summer, it’s going to cost you. If you haven’t yet budgeted for your getaway, start saving up and/or trimming costs from other categories in your budget now.
  • Social events. It’s wedding season, and they don’t come cheap, even if you’re not the one in the white gown. You may also receive invites or host other events during the summer months, such as family reunions, block parties, anniversary celebrations and more. It’s best to budget for gifts, the travel costs of attending these events and of course, for the expense of hosting, if applicable.
  • Activities for kids. School’s out, and the kids need to be kept busy. Aim for free activities whenever possible, but you may want to set aside some funds in your budget for occasional activities that have a price tag attached. 
  1. Create a vacation budget 

Aside from adjusting your monthly spending plan, you’ll want to build a workable budget for your summer getaway to avoid overspending. Money choices are nearly always better made in advance, so plan for every conceivable expense during your vacation. Attach a dollar amount for your hotel stay, car rental, food costs, transportation expenses, entertainment and outings, gifts, and any other cost you might have. Leave a bit of wiggle room for miscalculations, but try to keep your budget as close to the actual cost as possible. While on vacation, be careful not to go over budget and be open to a last-minute change of plans if some expenses end up being substantially higher than expected. 

  1. Review and adjust as necessary

Like going off a diet, blowing a budget is never an excuse to go all out and overspend without sparing a thought to the consequences. To avoid falling into this trap, resolve to review your budget and your overall spending on a regular basis throughout the summer. You can choose to do this weekly, or bi-weekly, but be sure to take a careful account of every dollar in and every dollar out. Being aware of the state of your finances in real-time instead of waking up after the damage has been done will make it easier to make responsible choices going forward. 

The temptation to overspend is especially strong during the summer. Follow these tips to keep your finances intact throughout the summer. 

Your Turn: How do you plan to stay financially fit this summer? Share your tips with us in the comments.

The Best Way to Spend Your Paycheck

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

Everyone loves payday, but too many employees don’t know how to allocate their paycheck in a way that best serves their financial needs. Use the tips outlined below to learn how to manage your paycheck responsibly. 

1. Automatically deduct contributions

Your first step in managing your paycheck is making sure you are deducting the optimal amounts. Your employer will likely deduct funds for your health care plan and taxes, but you can determine how much tax is withheld by changing a few elections on your W-4. If you receive too large a tax refund for the prior year, or you’re stuck with a big bill when you file, consider adjusting the amount withheld on your W-4. Also, be sure to take full advantage of any employer-matching offers for your retirement funds — don’t give up free money! 

2. Budget for necessities 

After your contributions are deducted from your paycheck, you’ll be left with your take-home pay, or net income. You’ll use this money for covering expenses until the next payday, so it’s best to budget first for necessities, such as your mortgage or rent payments, utility bills, insurance premiums, etc. You can use the “envelope system” to actually put cash away for necessities or set up a detailed old-fashioned budget, which prioritizes your needs. You can also choose to use the “50/30/20 budget” that sets aside 50% of your income for needs. 

  1. Budget for wants

Once you’ve set aside money for your needs, you can use some of the remaining funds for wants, or discretionary expenses. This can include entertainment costs, dining out and clothing, in addition to what you really need. Here, too, you can put away the cash you need for a spending category into an actual envelope, mark down the amount you can spend in that category on a paper or in an app budget, or simply keep in mind that 30% of your paycheck can be spent on these expenses. 

  1. Pay yourself 

Now that you’ve taken care of your needs and wants until the next paycheck, it’s time to think about the future. Put a percentage of the remaining funds into savings, including IRAs, college saving plans, CDs, investments, emergency funds and the like. Use your predetermined amounts, or 20% of your take-home pay, if using the 50/30/20 budget. If you have any outstanding consumer debt, be sure to pay toward it as well. 

  1. Don’t feel forced to spend it all

Many people mistakenly think they need to spend all of their paycheck before the next one arrives. If you’re left with extra money at the end of the month, there’s no need to waste it. You can beef up your savings, get ahead of your debt or stash some cash away for an expensive time of year, like the holiday season. 

Learning how to wisely manage a paycheck can take some time, but once you’ve got the hang of it, it will be easy and almost happen by itself. 

Your Turn: Do you have any tips on paycheck management? Share them with us in the comments.

How Can I Save on Super Bowl Sunday?

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

Q: I’m looking forward to hosting a big party on Super Bowl Sunday and possibly watching my favorite team celebrate their major victory,  but I don’t want to blow my budget on this party. How can I save on hosting a Super Bowl party?

A: Super Bowl parties are always great fun to host, but they can cost a pretty penny. To help cut the costs, we’ve compiled some hosting hacks so you can pull off the party of a lifetime without breaking your budget. 

Don’t fumble the decor

You want to set the mood for your party, but that doesn’t mean you need to drop a ton of cash on decor. Keep it simple with free printables of your team’s logo from sites like Pinterest, and choose party goods in your team colors instead of springing for branded items. Use any football gear you have at home, like jerseys, helmets and actual balls, to give your home a festive feel. If you’re still stuck for ideas or items, hit the dollar stores to score some fun football-themed party goods for just a few bucks. 

Tackle the food together

Just because you’re the one offering your home for the party doesn’t mean you need to handle all the food provisions yourself. You can go potluck and have everyone bring one dish, order takeout and split the bill with all the guests or set up a spreadsheet with all the menu items and have each guest choose one to bring, filling in their job as they choose so everyone knows who’s bringing what and every job gets done. 

Skip the Super Bowl platters

In general, the more niche a product is, the more it’s going to cost – and Super Bowl party food is no exception.  Fast-food chains and grocery stores will aggressively advertise their “game day platters” ahead of Super Bowl Sunday, but these are rarely worth the cost.  Instead, make your own for a fraction of the price and just a few minutes of work.  You can slap together some extra-long hero sandwiches, cut them up and arrange them on a large plate for an easy sub platter.  For your health-conscious guests, slice up everyone’s favorite veggies and add a dip or two for a fresh veggie platter at half the cost you’d pay at the grocery.

Choose the party cut

If you’re making a pizza party, you can still save on costs by knowing what to ask for when you place your order. But first, consider going partially homemade by picking up some frozen pies at a great price in stores like Costco or ALDI. Besides the savings, you’ll have your home smelling awesome just by popping some pies in the oven. 

If you want it hot-from-the-pizza-store fresh, maximize the rewards and coupons that are available at chains like Papa John’s, Domino’s and Pizza Hut. To get even more bang for your buck, use this hack: Ask for the “party cut” on your pizza instead of the traditional triangles. The smaller squares help guests choose portion sizes they’ll actually eat instead of leaving half-eaten slices on their plates. 

Consider your lineup

Don’t just set your buffet with an eye toward what is most aesthetically pleasing. Also consider your budget and place the more affordable items at the head of the line. These are typically grabbed first, and putting them front and center, with the pricier stuff in the back, will help to ensure you don’t run out of any buffet item too quickly or blow your budget on one pricey food. 

Let’s play … bingo!

Let’s face it; not everyone at a Super Bowl party is all that crazy about football. Some are just there as their more sports-inclined partner’s plus-one. Some might show up just because they consider you a friend, and you’re the host. Prepare some games to help keep the party fun for those who aren’t that interested in the game on the screen. You can download Super Bowl bingo cards here, or set up some old-fashioned board games in a quiet corner.

Super Bowl parties don’t have to defeat your budget. Use the tips outlined above to keep costs down while throwing a party that’s truly fit for champions. 

Your Turn: How do you save on costs when hosting a Super Bowl party? Share your best tips and tricks in the comments. 

Get the Hell Out of Debt

by Advantage One, posted in book review, Credit, Debit, Lifestyle, Reviews, Tips & Best Practices

Title: Get the Hell Out of Debt: The Proven 3-Phase Method That Will Radically Shift Your Relationship to Money

Author: Erin Skye Kelly

Paperback: 320 pages

Publisher: Post Hill Press

Publishing date: July 20, 2021

Who is this book for? 

  • Anyone who is fed up with living in debt. 
  • People seeking to get rid of credit card debt without paying a fortune in interest.
  • Readers who want to improve their money management and find most personal finance books boring.

What’s inside this book?

  • An honest, incisive and often humorous guide for paying off debt.
  • An outline for the three phases of getting rid of debt.
  • The two most important tools of money management.
  • Kelly’s own journey toward a debt-free life.

3 lessons you’ll learn from this book: 

  1. How to pay off a large amount of consumer debt.
  2. How to create and maintain wealth. 
  3. How to change your money mindset so you’ll stay debt-free.

5 questions this book will answer for you: 

  1. Why do people tell me to consolidate and refinance my way out of debt when this advice only takes me deeper into debt?
  2. Is it possible to kick my debt for good?
  3. What practical steps do I need to take to get rid of my debt?
  4. Is financial stress an inevitable part of life?
  5. How can I find true financial freedom?

What people are saying about this book: 

  • “Erin has a brilliant way of explaining, step-by-step, how to radically shift your finances for the better.”  — Peter Mallouk
  • “Erin understands that wealth is about so much more than money. It is about creating, living, and leaving a legacy of love and happiness.”  — W. Brett Wilson
  • “With a welcomed irreverence and absolutely no judgment, Erin shows us all of the nuanced, messy, and dysfunctional ways we stumble and fall into debt. But then! Then she shows us how to get up and stand tall before we kick, claw, and fight our way out of it. It’s you against your debt. Read this book if you’re ready for your gloves to come off.”  — Jesse Mecham

Your Turn: What did you think of Get the Hell Out of Debt? Share your opinion in the comments. 

Q&A: Why Are Prices So High Now?

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

Q: I’m trying to heal financially as life returns to pre-pandemic norms, but the rising cost of many commodities, like groceries and gasoline, is making a financial rebound a challenge. Why are prices skyrocketing right now?

A: The jump in prices of many goods is proving to be a formidable challenge to millions of Americans who are attempting to recover from the pandemic. There are several compounding factors triggering the rise in prices across multiple industries, and the upward trend is likely to continue for a while. Here’s what you need to know about the sky-high prices dominating the post-pandemic economy.

How much more do groceries cost compared to a year ago?

A trip to the grocery in 2021 doesn’t come cheap. According to new data from NielsenIQ, all 52 tracked food categories are more expensive now than they were a year ago. The cost of fresh meat, for example, jumped by 8.6% from May 2020 to May 2021, while processed meats are up by 9.2% and the cost of eggs has seen a nationwide increase of 8.2%.

What is causing the increase in grocery prices?

A confluence of factors is causing grocery prices to rise.

For one, the pandemic has caused a shortage in many materials due to a prolonged disruption in the labor force and supply chain, which has increased demand, and the prices of these goods, to rise. Grocery items, in particular, also saw a surge in demand due to the many Americans cooking at home while on lockdown during the pandemic. Many industries are still suffering from these shortages and don’t expect to recover for a while. In fact, the Bloomberg Commodity Spot Index, which tracks 23 raw materials, is at the highest level it’s been in nearly a decade.

Second, there is a shortage in the labor market now, which can likely be attributed to the inflated and extended pandemic unemployment insurance, which made many laborers reluctant to return to work. Employers are forced to offer more pay for attracting workers, and they pass this extra cost on to consumers.

Finally, the increase in prices can be linked to the rise in transportation costs as gas prices continue to rise, which we’ll explore more in a moment. Again, this increased expense is passed on to the shopper through higher prices on consumer goods.

Why are gas prices so high?

It’s sticker shock at the gas pump these days, with prices as high as $4 per gallon in some parts of the country.

There are many factors contributing to the rise and fall in gas prices, of which the fluctuating price of crude oil is most prominent. According to the U.S. Energy Information Administration (EIA), approximately 60% of the money we pay for a gallon of gas goes to cover the costs of the crude oil that went into making it. Another 25% pays for the costs of refining, distributing and marketing the gas, while the rest pays for federal taxes, and state taxes in some states as well.

Crude oil prices, in turn, rise and fall in direct correlation of multiple factors. Most recently, here’s what’s causing the price of crude oil to peak:

  • Basic rules of supply and demand. The last few months saw a loosening of COVID-19 restrictions around the globe. This led to an increase in the demand for gas, and in turn, for crude oil. In contrast, at the height of the pandemic, demand for crude oil fell sharply — and so did its price tag.
  • The presidential election. Crude oil prices have spiked by an average of $0.75 per gallon since Nov. 3, 2020. The oil markets evidently see the current administration as one that will inhibit U.S. oil production, which leads to a tightening on the global oil market. Traders responded by driving up the price of crude oil.
    Seasonal market changes. The price of crude oil tends to rise and fall with the seasons, where prices generally rise in the spring and summer months as more motorists hit the road, thereby increasing demand. The changeover to summer gasoline blends also leads to a jump in gas prices at this time of year
  • Change in the value of the dollar. Oil is priced in U.S. dollars within the world market. When the dollar is strong, relative to other currencies, crude oil is cheaper for Americans and more expensive for the global market. When the dollar is weak, as it is now, oil becomes more expensive for Americans.
  • Strong discipline among the OPEC+ nations. When the nations which are part of OPEC+ stick to their agreement to cut back on oil production, prices increase.

What can I, as a consumer, do about the rising cost of goods?

Unfortunately, as a private consumer, there’s not much you can do to bring down the costs of common goods. However, there are steps you can take to help you manage these costs in a financially responsible manner.

First, you’ll likely need to make some changes to your monthly budget to accommodate the higher costs of groceries and gas. Shuffle your spending categories by trimming discretionary expenses until you have enough money to cover the costs of food and transportation.

Next, incorporate cost-saving techniques you may not have needed to use until now to help you manage these increased expenses. Think couponing, shopping the seasons and the sales, buying items you always use in bulk, and cutting back on pricey grocery items you can do without. To save on gas costs, consider walking to work or to do your errands, carpooling when possible, or using public transportation more often.

Rising prices might be hard on the wallet, but with some proactive steps, you can still stay on top of your finances and help bring your financial health back to pre-pandemic norms.

Your Turn: How are you budgeting for the rise in the cost of groceries and gas? Share your tips with us in the comments.