Money Moves You Can Choose

December 27, 2017 | Jamilah N. McCluney

In an ideal world, you pick the right career, love it there, stay there, and retire there after 30+ years. Since life isn’t always ideal, you might have a few career changes before you land at the perfect spot. If you were fortunate enough to have a 401k plan and disciplined enough to actually put money there each pay period, you may have accumulated a decent amount of cash. But if you’re no longer employed at the location of that decent amount of cash, what happens to that money in your old 401k plan?

You have a few options to consider when making your money moves and some may be more beneficial than others. It’s important to be informed so that you’re able to make the best financial decision for yourself and your financial goals.

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Christmas On Credit

December 18, 2017 | Jamilah N. McCluney

‘Tis the season for debt?

The average consumer is expected to spend $904 on Christmas this year. If you were already apart of Black Friday and/or Cyber Monday shopping, you helped contribute to the $11.6 billion that was spent in America, on just those two days alone!

Is it really a sale?

Swiping for you purchases can cost you big time. Even if you swipe for a relatively small amount, the interest attached to that purchase can add up. The fact that many Americans are in credit card debt, alludes to the fact that minimum payments are being made on credit cards, and consumers are using credit to essentially borrow things they can’t afford. You could end up paying for “small” purchases for years, if you are not disciplined with your money and aware of the consequences. Looking at the big picture of what the items charged will really cost you, can help you put those purchases into perspective.

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“More Money, Now What?”

January 16, 2017 | Jamilah N. McCluney

You work hard daily, and give your job and career your all. You’re not necessarily just in it for the money, (o.k. you’re in it a lot for the money) but you’re also satisfied with the difference you make on a day-to-day basis. There’s nothing greater than receiving your paycheck and noticing more on the bottom line than you did the paycheck before.

You got a bonus or that long awaited raise and you’re lit? Or are you? You may immediately start to think of all the new shoes or bags you’re going to buy, but what is the right move for this unexpected new windfall?

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3 Ways You Are Losing Money

January 16, 2017 | Jamilah N. McCluney

You get it; don’t think you spend it, yet you have nothing to show for it. Where does it all go? If you’ve ever found yourself with not enough month at the end of your money, here are 3 ways you may be losing it.

You Put Your Money Where Your Mouth is

You may not realize how much of your money leaks away to your favorite restaurants every time you clean your plate, but if you dine out regularly, your restaurant tab is costing you. The average restaurant tab for two can easily range from between $50 to $150+ if you add cocktails. Multiply that range by 4 weekends in a month and you could be dishing out between $200 to $600, or more! If you’re unsure of where your money goes, check your most recent bank statement and look at your restaurant charges. Don’t forget to count Starbucks!

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Health is Wealth

January 16, 2017 | Jamilah N. McCluney

Most of us are on a paper chasing mission. We’ve been programmed that way, our whole lives. We’re encouraged to pursue education in hopes of a 6-figure salary or to follow our entrepreneurial dreams in order to make millions. There is usually no greater joy than reaching a successful financial milestone.

What if we follow the road to riches and actually achieve it, only to not be around long enough to fully enjoy the fruits of our labor? It’s no secret that we live and we die, but what if we had the opportunity to take care of our bodies with the same vigor and drive that we pursue our financial accomplishments? What if we invested in our bodies as much as we invested in the stock market or our jobs? What if we were as concerned about our health as we are about the new bitcoin price?

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Your 401k plan is a loser

January 16, 2017 | Jamilah N. McCluney

You’ve set up your 401k plan with your employer and consistently put money into it each pay period, but how does the plan actually work? Can you lose money? Can you make money? Let’s find out.

If you were unfortunate enough to have a 401k plan during the housing market crash of 2008, then you probably saw a drop in your 401K balance. Many people experienced significant loses during that time, with balances dropping by 5 and 6 digit dollar amounts. But how did that happen? What did the housing market crash have to do with your 401k plan?

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