I mean fiduciary. Why, what were you thinking?
Fiduciary, pronounced fi-DOO-she-air-ee. In the financial services industry, this is a very important word. It describes a kind of relationship. The kind of relationship you want to have with someone giving you financial advice.
On September 7, Equifax, one of the three major credit reporting companies, announced that they had been hacked. Sometime between mid-May and July hackers exploited a vulnerability in their website in order to gain the personal information of about 143 million people.
The hackers got people’s names, social security numbers, birth dates, home addresses, and some drivers license information. They also got credit card information for about 209,000 consumers and dispute documents containing personal information for 182,000 people.
It seems that in the media, Millennials are constantly getting a bad rap. They are lazy, entitled whiners living in their parents’ basements and sipping expensive coffee.
But we all know Millennials who are nothing like that. Like my son’s kindergarten teacher who spends all day shaping the hearts and minds of 20 little high-energy, snotty-nosed humans, then goes home to take care of her baby and husband (all while pregnant).
Sometimes the only way to reconcile our own experiences with what we hear in the media is with cold, hard facts. This is a money blog, so today we’re going to talk about money. Are Millennials really worse with money than everyone else? Or is that just something that old people say to feel better about themselves?
Budget. It’s amazing how one simple word can elicit so many strong feelings. Bondage, boredom, failure. Restrictive, tedious, controlling. A lot of people only have negative connotations when they think of budgeting, because of what they have heard and experienced.
If you think of a budget as an 8 ½ x 11 (or digital) jail cell, I’m sorry. You’ve been mistaught and abused. It’s not supposed to be that way.
Though it doesn’t feel like it yet, fall is on the way and colleges across the country are getting back into the swing of things. And parents and students alike are writing some of the biggest checks of their lives.
About 10 minutes from my house is WSU Vancouver, where classes start today. Over there, people are shelling out about $500/credit this term.
Would you believe me if I told you that you could earn credit towards their degrees for only $33/credit?
Yep, it’s true. I didn’t attend WSU specifically, but I earned 18 credits that they accept towards their degrees for only $33/credit. I even earned 6 credits for half that, a whopping $17 per credit.
Am I some sort of higher education financial contortionist? Not really, though it sounds cool. Am I blackmailing the dean? Never! (I’m offended that you’d even think such a thing!)
Then how did I accomplish this fiscal ...
It can be hard to save for retirement. Especially for pastors who need to because they’ve opted out of Social Security. A lot of big denominations have pensions, but what about independent pastors? Non-denominational pastors usually don’t have workplace retirement plans. That doesn’t leave them with much more than an IRA. Or does it?