Family & Personal Finance Article Archive

Credit Freeze Information in the Wake of the Equifax Hack

Credit experts recommend that consumers freeze their credit to reduce their risk of becoming an identity theft victim. This has to be done individually with each of the “Big Three” credit reporting agencies (Equifax, Experian, and TransUnion), plus some experts also recommend doing a freeze with a lesser-known credit reporting agency called Innovis to “cover all the bases.”

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Keeping Your Financial Records Secure

When a family emergency or disaster occurs, having quick access to important financial documents is essential. These documents include banking information, insurance cards and policies, wills and power of attorney documents, household inventory, and birth and marriage records. This article will address what are the important financial records, where to keep financial records secure, how long to keep records, and how to create a Grab and Go box.

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Health Savings Account vs. Flexible Savings Account: Which is best for me?

Having a health insurance plan does not mean that all medical expenses are covered. Health savings accounts (HSA) and flexible savings accounts (FSA) are designed to help consumers budget for deductibles, co-pays, prescription costs, plan out-of-pocket costs, and other unexpected medical expenses. In addition to helping a consumer manage planned and unexpected medical expense, both HSAs and FSAs lower an individual’s taxable income, which in turn reduces the amount of annual taxes paid to the IRS.

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Retirement Saving Strategies

Since people are living longer than ever, retirement savings need to last longer and work harder. It is more important than ever to make smart financial decisions. There are four standard sources of retirement income, Social Security, retirement plans and/or employer sponsored pensions, investment income, and earned income from part time employment.

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