Category: Brandpoint Business & Finance

2023-07-24T14:01:00

(BPT) – Diversity is a growing priority in America’s workforce, but veterans may not be the first group of potential employees that come to mind.

National Hire a Veteran Day on July 25 is an important reminder of the varied perspectives and transferrable skills military veterans bring home to the civilian workforce. Yet, many of them face challenges when leaving military service.

Veterans especially feel the economic pressures of today. The 2022 Annual Warrior Survey from Wounded Warrior Project^® (WWP) found that more than half of WWP warriors couldn’t make ends meet at some point in the past 12 months. Most reported the soaring cost of goods as the top cause of financial strain.

WWP warriors also reported that their top barriers to employment were difficulty translating their military skills and mental distress. These challenges make veterans’ transitions even harder, but employers can help.

“Companies can play a unique role in addressing these challenges by understanding the value veterans bring to the workplace and tailoring hiring strategies to veterans,” said Tom Kastner, vice president of financial wellness at WWP. “Not only will this help veterans achieve gainful employment and financial stability, but it also unlocks an underutilized talent source for business growth.”

Here are three reasons why including veterans in hiring initiatives gives companies a competitive advantage and removes employment barriers.

1. A diverse hiring pool

Veterans have a broad range of experiences and backgrounds that make them a diverse group. They have encountered various situations in the military that shaped their worldview, often in unpredictable environments. These experiences lead to more inclusive decision-making and problem-solving in the civilian workplace.

2. Unique transferable skills

According to data from global management consulting firm McKinsey, the most diverse companies outperform their less diverse competitors in profitability. Veterans developed diverse skills in high-pressure environments that can contribute to any company’s bottom line.

Employers who recognize these skills and expand their understanding of the veteran community gain talented and dependable employees. One company that has put this into practice is Verizon. Recognized for its military recruitment and hiring practices, Verizon employs over 8,000 veterans and benefits from their skills across various career areas.

3. Supporting wounded warriors’ well-being

The vocational and mental health barriers some veterans face can cause stigma and prevent them from seeking help. Employers can address their challenges and needs by including them in hiring initiatives. For example, businesses can provide services that promote veterans’ holistic well-being.

Mentoring programs, resource groups, and tailored job postings are examples of support that can go a long way in setting veterans up for success. Johnson & Johnson, for example, established the Veterans Leadership Council to help veterans connect, network, and grow. The council also advocates for veterans’ health and wellness needs.

Veterans aren’t the only ones who benefit from these initiatives. When organizations support veterans, they reinforce a culture that prioritizes diversity and invests in the well-being and success of all employees.

Your partner in veteran hiring, recruitment, and inclusion

Many employers need help building initiatives that include and support veterans. That’s why Wounded Warrior Project developed the Warriors to Work^® program.

This program helps companies understand the unique needs of wounded veterans, find candidates, retain them for long-lasting careers, and become preferred veteran employers. Specifically, Warriors to Work helps employers develop onboarding processes and identify optimal roles for veterans. The program also educates companies by providing employer resources that reduce stigmas around veteran employment.

Companies that invest in hiring and supporting veterans empower them to reach their highest ambitions and promote a more diverse workforce culture. Learn how you can become a more veteran-friendly employer.

2023-06-23T07:01:00

(BPT) – Keeping your finger on the pulse of what consumers want can be a challenge, especially in the ever-evolving beauty industry. Social media and lifestyle trends often influence where beauty dollars are spent, and suppliers must take note of buyer purchasing patterns to meet demand.

Data from Alibaba.com, a leading B2B e-commerce marketplace for global trade, provides deep insights into current and emerging trends that are important for businesses in the beauty industry. Sourcing activities on the platform, comparing data from March 2023 to March 2022, point to the following five trends that are poised to define the beauty industry in the second half of 2023:

Vitamin C is in demand

Interest in and use of vitamin C in beauty products like serums, face masks and moisturizers has increased significantly. Alibaba.com saw a 107% year-over-year increase in global buyer inquiries for beauty products with vitamin C. What’s more, there has been a 35% increase in the number of beauty products including vitamin C sold on the marketplace over the same period.

Vitamin C offers a plethora of benefits for skin health and also appeals to eco-focused consumers because it is often sourced from renewable resources. These reasons and more are why many beauty insiders say vitamin C products are here to stay.

Sustainability is key

Using upcycled or recycled materials to create sustainable products is becoming commonplace in the beauty industry. Products like shampoo bars, lip balms and makeup palettes are increasingly featuring recycled plastic and paper packaging. Brands are also repurposing materials like coffee grounds and fruit waste to make exfoliants and face masks.

Consumers are becoming more environmentally conscious, and brands and suppliers alike need to keep up. Alibaba.com saw 109% more inquiries for resource-saving products (eco-friendly and water-efficient products) year-over-year, and there was a 42% increase in the number of sustainable beauty products listed on the site.

Localization matters

As consumers are looking for increasingly personalized experiences from brands, the demand for localized products is growing. Many beauty brands are prioritizing localization efforts by using locally sourced ingredients in their products and tailoring them to the region, climate and culture of their customers.

This might mean a brand will create a skincare line for consumers living in a hot, humid climate using some ingredients that grow naturally in that area. For instance, a growing number of suppliers on Alibaba.com have started using local tropical plant and fruit ingredients in their cosmetics in response to demand from buyers in Southeast Asia.

Beauty routines go streamlined

All-in-one products are perfect for consumers with busy lifestyles. This includes products like BB creams that combine moisturizer, sunscreen and foundation; combination hair and body washes; and palettes that include lip colors, blush and eyeshadows.

Consumers are experiencing increasingly hectic lives and are looking to streamline their to-dos. They are seeking out these types of products to help simplify their beauty routine, saving time and space without sacrificing quality. Alibaba.com saw approximately 10,000 more all-in-one products listed on its platform in March 2023 compared to the same time last year, reflecting a growing demand for this category of products.

Anti-aging products turn back time

One of the fastest-growing segments in the beauty industry is anti-aging products. These often target skin rejuvenation and fine-line reduction, such as anti-wrinkle creams, serums, face masks and facial oils. Alibaba.com saw an increase of 180,000 anti-aging products on its platform year-over-year.

Social media has influenced the desire to slow the speed of aging, and this has heavily impacted consumer desire to purchase anti-aging products. Businesses are responding by stocking a variety of anti-aging products. For example, there was a 291% year-over-year growth in the number of businesses purchasing anti-aging serums on the platform.

Businesses in the beauty industry must be agile and keep pace with emerging trends like these. To learn more about industry trends or to stock up on the latest items to position your business for success, visit Alibaba.com.

2023-06-19T23:01:00

(BPT) – While many people put off getting life insurance, more people in recent years are beginning to understand the importance of getting enough coverage. A 2023 Insurance Barometer Study conducted by Limra revealed that 101 million U.S. adults currently need life insurance but don’t have any. However, 41% of respondents said they need life insurance or need to get more, revealing the awareness of how important this coverage is for many Americans.

The good news is, being covered by permanent life insurance, such as a whole life policy, can give you and your family better peace of mind.

If you’ve been delaying getting enough life insurance to help protect your family due to misperceptions about coverage, here are the myths — and the facts — to help you understand how important it is.

Misconceptions about life insurance

According to an analysis by Limra’s 2021 Life Insurance Barometer Study, there are many common misperceptions about life insurance. Have you put off buying coverage due to one of these myths?

• It’s too expensive. Over half of Americans overestimate the cost of coverage, sometimes by as much as three times.
• The coverage I already have is enough. Whatever coverage you may have purchased in the past, it’s vital to do an annual benefits review to make sure your coverage is still sufficient. Life changes including marriage, expanding your family and more can all have an impact on your needs.
• Buying it is too difficult. Nearly half of Americans (46%) have delayed buying coverage they know they need. Buying life insurance may seem intimidating, but the process has been greatly simplified over the last few years.
• I don’t need it because I’m young. If you don’t yet have a partner or dependents, you may think you can put it off. However, coverage is much less expensive for young, healthy people to purchase, and life insurance helps protect your loved ones’ financial future.

No matter your age or family size, you can find a whole life insurance policy that offers permanent protection for your family, giving you a sense of security.

What is whole life insurance?

Whole life insurance is one type of permanent life insurance. Here are some of the most important benefits of this kind of insurance:

• It lasts for the lifetime of the insured person — providing protection against financial loss caused by the death of the person who is insured. Usually, it is paid out in a lump sum, sometimes known as a death benefit, directly to a designated beneficiary in the event of the insured person’s death.
• Whole life insurance can build cash value for your family’s future (unlike term life insurance), which may be available for you to withdraw or borrow against in case of an emergency.
• Protection is affordable and flexible. You can choose the amount of insurance that makes sense for you and your family, and that you can afford.
• Coverage options are available for you, as well as for your spouse, your children and your grandchildren. However, if you are currently single with no dependents, the flexibility of their whole life plan also allows you to expand the coverage later, to meet any future responsibilities you may have.
• Your monthly cost and benefits are guaranteed for the life of your policy — so the cost does not increase as you get older. As long as you pay your premiums, the cost of your life insurance policy can never go up. And if you happen to change jobs or retire, you can even take your coverage with you, at the same rate.

Whole life insurance gives you reassurance that your family will be protected. In the event of your death, your beneficiaries will receive the policy’s death benefits amount, minus any outstanding loans you may have taken out against the policy.

To learn about protecting your loved ones’ financial future, visit BostonMutual.com or contact your company’s benefits coordinator or HR department. For information on benefits available outside workplace offerings, or if your workplace benefits currently aren’t an option, visit BostonMutual.com/LearnMore.

2023-06-15T05:01:00

(BPT) – By Martha Weaver, Retail Gift Card Association Fraud Committee Chair

Criminals are smart. And increasingly sophisticated. With technology and artificial intelligence (AI) at their fingertips, they are constantly finding clever ways to take advantage of honest, hard-working Americans. There are a variety of scams criminals use to steal money, and many are turning to more cunning methods that involve bank accounts, debit and credit cards, and gift cards.

People love gift cards; they’ve been the top requested gift in America for nearly two decades according to the National Retail Federation. But while everyday folks love giving, receiving and using gift cards, unfortunately so do criminals. Just like other payment methods, criminals use intelligent means of stealing money from gift cards — but we have some tips for how to spot them, outsmart the scammers and protect yourself.

Here are our top gift card safety tips:

1. Gift cards can only be used at the company on the card. If you get asked to send money or pay for another service with a gift card, STOP and contact law enforcement, even if the fraudster tells you not to talk to anyone or a loved one is in trouble. No real government agency or business will ever reach out and ask you to pay them with gift cards — and you can’t pay taxes or bail money with gift cards.
2. Check gift card packaging at the store and make sure the gift card hasn’t been tampered with. Look for things like ripped or torn packaging or missing scratch-off material over the top of the PIN number. If something doesn’t look right, pick another card and show the questionable card to a store associate.
3. When you buy a gift card, keep your activation receipt as proof of your purchase.
4. Only buy gift cards from trusted sources. If you’re offered a deal that’s too good to be true, like a big discount on a gift card, it’s likely a scam or you’re getting a fraudulent card.
5. Store your gift cards securely and don’t share gift card numbers or PINs with people you don’t know.

If you think you have been scammed or see fraud happening, contact your local law enforcement or the FTC at ftc.gov/complaint or via this toll-free number: 1-877-FTC-HELP. You can also report IRS impersonation scams to the Treasury Inspector General for Tax Administration, visit their website or call 800-366-4484.

The Retail Gift Card Association (RGCA) is the only nonprofit trade organization that represents the gift card industry. We have more than 100 of the world’s top brands on our roster, and together our mission is to promote positive gift card experiences among shoppers.

More information about how to have amazing gift card experiences is available at GiftCardSafety.org. You can learn more about the gift card industry at www.thergca.org.

2023-06-13T08:13:00

(BPT) – As the weather gets warmer, many are feeling a strong dose of wanderlust. And while it is tempting to take the PTO and book a ticket to the destination you’ve been thinking of, the hike in travel costs (and daily living expenses) may make you feel a summer vacation is out of reach.

You’re not the only one — according to the recent SoFi Travel Habits survey¹, 56% of SoFi members said they decided against traveling altogether due to rising costs during the planning process. However, depending on your financial situation, that doesn’t mean a vacation is totally out of reach if you know how to plan and where to find deals. With the right planning and saving, going on a vacation while staying on top of your personal finances is completely doable. Here are a few recommended tips:

Plan before you go

When planning out your vacation, make sure to shop around and compare costs of different flights, destinations and packages. It may surprise you that sometimes opting to buy an all-inclusive international travel package can be less expensive than a local vacation. Doing your research and making those comparisons will allow you to make the most informed decision before hitting “buy.”

Also, when possible, try traveling during the early mornings and late nights, as fewer people want to travel during these times, making tickets more affordable.

Automate saving for your trips and trim costs where possible

Once you have a ballpark figure of how much you intend on spending for your vacation, make sure to budget for that amount as early as you can to give yourself some room to save toward your goal. In fact, in a recent SoFi Travel survey, one-third of SoFi members report saving for trips 6-8 months in advance, so if your circumstances allow for it, you can even try planning for a vacation during the off-season to make saving easier.

The most efficient way you can begin putting away money for your trip is by setting up automated savings. When you automate your savings, you are setting up your bank account to routinely transfer a specified amount from your checking to your savings. Some financial institutions offer an automated savings feature so you can “set it and forget it,” making sure your vacation money never even hits your account and goes straight into savings.

To make the most of your savings, consider a financial institution that offers both automatic savings and a high-yield savings account. SoFi Checking and Savings² offers Autopilot to set savings aside automatically as it hits your account, as well as 4.30% Annual Percentage Yield (APY)³ for direct deposit members, to make saving easier and to offer more back for your money.

Trim pricey treats before the trip

Of course, automating your savings only works if you have budgeted appropriately and can afford to miss the amount you set toward your savings. If you find that you are having trouble with this, try doing an audit of your spending, and identify what you can stop spending or spend less on.

Using an app or a tool that your bank offers may help you audit your spending habits more accurately. SoFi Insights⁴, a financial tracking tool, highlights your spending trends and how much you’re saving every month. This helps you manage your spending better, and identify places you can potentially trim a little if you need to set aside extra funds for your upcoming vacation. For example, it can easily show you how much you’re spending on takeout each month. Most of the year that spending may fit into your budget, but as you gear up for vacation, instead of ordering takeout multiple times a week, consider making it a weekly treat until you reach your savings goals.

Use your cashback, plus any and all discounts you have access to

Since travel costs are expected to be high this summer, this would be the prime time for you to redeem any discounts you’re offered or cash back you’ve accumulated. Make sure to use them wisely depending on your circumstances. For example, if your destination is more drivable, opt to drive and use your cash back on the hotel stay or an experience that would have otherwise been more expensive to book.

One way you can make sure that you are getting the best discounts and deals for your trip is by choosing an intuitive platform that delivers a seamless booking experience and allows you to make an informed decision. SoFi Travel⁵, powered by Expedia Group, offers members access to discounts and rewards on everything from flights and car rentals to hotels and travel packages. SoFi Travel also offers an unlimited 3% cash back⁶ for members who book travel with the SoFi Credit Card⁷, which means more rewards back in your pocket to redeem for cash, invest⁸ or pay down eligible loans⁹, allowing you to book your travel and manage your banking, investing and more all in one place.

For more information, you can visit: https://www.sofi.com/sofi-travel/.

DISCLOSURES

1. Source: Based on the SoFi Travel Habits Survey of 1,466 SoFi members from April 4 – 16, 2023.

2. SoFi Checking and Savings is offered through SoFi Bank, N.A.

3. SoFi members with direct deposit can earn up to 4.30% annual percentage yield (APY) on savings balances (including Vaults) and 1.20% APY on checking balances. There is no minimum direct deposit amount required to qualify for the 4.30% APY for savings. Members without direct deposit will earn 1.20% APY on all account balances in checking balances and savings balances without direct deposit (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 6/9/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.

4. SoFi’s Insights tool offers users the ability to connect both SoFi accounts and external accounts using Plaid, Inc.’s service. The credit score provided to you is a VantageScore^® based on TransUnion^® (the “Processing Agent”) data.

5. Terms, and conditions apply: The SoFi Travel Portal is operated by Expedia. To learn more about Expedia, click https://www.expediagroup.com/home/default.aspx.

When you use your SoFi Credit Card to make a purchase on the SoFi Travel Portal, you will earn a number of SoFi Member Rewards points equal to 3% of the total amount you spend on the SoFi Travel Portal. Members can save up to 10% or more on eligible bookings.

Eligibility:

You must be a SoFi registered user.

You must agree to SoFi’s privacy consent agreement.

You must book the travel on SoFi’s Travel Portal reached directly through a link on the SoFi website or mobile application. Travel booked directly on Expedia’s website or app, or any other site operated or powered by Expedia is not eligible.

You must pay using your SoFi Credit Card.

SoFi Member Rewards: All terms applicable to the use of SoFi Member Rewards apply. To learn more please see: https://www.sofi.com/rewards/.

Terms applicable to Member Rewards: https://d32ijn7u0aqfv4.cloudfront.net/git/docs/rewards/Enroll%20-%20SoFi%20Member%20Rewards.pdf.

Additional Terms:

Changes to your bookings will affect the Rewards balance for the purchase.

Any canceled bookings or fraud will cause Rewards to be rescinded.

Rewards can be delayed by up to 7 business days after a transaction posts on Members’ SoFi Credit Card ledger.

SoFi reserves the right to withhold Rewards points for suspected fraud, misuse, or suspicious activities.

©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender. NMLS #696891 (Member FDIC), (www.nmlsconsumeraccess.org).

6. *See Rewards Details<SoFi.com/card/rewards>

7. The SoFi Credit Card is issued by The Bank of Missouri (TBOM) (“Issuer”) pursuant to license by Mastercard® International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.

8. Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA (www.finra.org)/SIPC (www.sipc.org).

9. Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi’s underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2022 was around $30K. Information current as of 05/30/23. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.

2023-06-05T07:01:00

(BPT) – Medicare fraud is a serious problem. Medicare loses an estimated $60 billion each year due to fraud, errors and abuse. Every day, these issues affect people across the country and can lead to identity theft and cost you money. The good news? Some simple tips can help you protect yourself and your loved ones.

Understand Medicare fraud

Be aware of common scams so you can better protect yourself. Examples include:

• Getting bills for services or medical supplies that you never received.
• Being prescribed tests and services that are not necessary.
• Receiving medical supplies or equipment that you never ordered and do not need.

Know the warning signs of a scam

It’s essential to watch out for these red flags:

• Unsolicited calls, emails, or visits — someone contacting you out of the blue, claiming to be from Medicare and offering free services.
• Requests for personal information — a demand for your Medicare number, Social Security number or other personal information.
• Pressure to act quickly – any threat that you’ll lose your benefits or suffer other consequences if you don’t comply with a deadline, often by paying them or providing personal information.
• Suspicious websites or mailings — fake websites created to look like official ones but that have inconsistencies, errors or other odd elements.

Take steps to reduce your risk

The most effective way to stop fraud from happening is to prevent it in the first place.

• Only share your Medicare and Social Security numbers with people and medical providers you trust.
• Carry your Medicare card only when you need it.
• Keep a record of all your medical visits and procedures.
• Carefully review your Medicare statements for mistakes and charges you don’t recognize.
• Trust your instincts and report any and all suspected fraud.

Find help

The Senior Medicare Patrol (SMP) is a federal program that provides free, unbiased information and assistance to Medicare beneficiaries, their family members and caregivers on how to protect themselves and Medicare from fraud. Local SMPs also provide one-on-one case assistance to those who think they may have been a victim of Medicare fraud, which ensures that suspected fraud is reported quickly and efficiently. Funded by the Administration for Community Living, local SMP programs have offices in all 50 states, DC, Puerto Rico, Guam and the U.S. Virgin Islands.

If you have questions about how to protect yourself, need to report fraud, or need help determining whether you’ve been a victim of fraud, SMP can help.

Find a local SMP at www.smpresource.org or call the toll-free helpline at 877-808-2468.

2023-05-23T09:31:00

(BPT) – Summer is the perfect time to travel as a family, and it’s never too early to think about your next trip. Between coordinating family activities with your work schedule, looking ahead to maximize hotel and flight deals, or researching the best excursions for the whole family, it’s always helpful to think ahead. As you plan your next family getaway, these tips will help ensure you—and your whole family—have the ultimate travel experience.

Pack Like a Pro

When traveling as a family, the necessities pile up quickly. Consider using packing cubes, doubling up children’s travel essentials into one bag, or vacuum sealing bags to help fit your things into a smaller carry-on. Be sure to check out airline baggage requirements ahead of time to ensure you don’t get hit with additional fees or costs when you get to the airport. For example, when flying Southwest^®, bags fly free^® (first and second checked bags, weight and size limits apply), so families have a little extra room for all their additional needs.

Leverage Credit Card Rewards and Benefits

Using a travel credit card is a great way to earn rewards on everyday spending throughout the year, as well as providing certain perks and benefits that can make future travel more convenient. If you choose the right credit card, you might even be able to optimize your travel from the second you leave home to when you touch back down from your trip, earning points all along the way.

Southwest Rapid Rewards™ Credit Cardmembers from Chase, for example, have access to opportunities to earn toward travel, like 2X points on Rapid Rewards^® hotel and car rental partners. If car rentals aren’t in your plans, Cardmembers also earn 2X points on local transit and commuting purchases, including rideshare. Either way, your transportation will earn you more Rapid Rewards points towards a future vacation.

Prepare and Plan Travels and Itineraries

Timing is everything when it comes to planning summer travel. Costs and availability can fluctuate regularly depending on your destination’s peak seasons, especially while everyone is trying to take advantage of summer break. Think about what you and your family love to do to determine your destination and timing in advance, easing the stress of last-minute scheduling.

On top of planning departures and travel itineraries, factoring in time to check-in to the flight and get to the airport on time is an important step, especially when adding family to the equation. To ease this stress, the Southwest Rapid Rewards Plus and Premier Credit Cards from Chase offer Cardmembers two EarlyBird Check-Ins^® per year, providing the convenience of automatic check-in 36 hours ahead of the flight. Southwest Rapid Rewards Priority Cardmembers can receive four Upgraded Boardings per year when available, resulting in a preferred boarding position and earlier access to store their carry-on luggage.

Between May 23 and June 26, 2023, new Southwest Rapid Rewards Plus, Premier, and Priority Credit Cardmembers can earn 60,000 points plus a 30% promotional code to use towards future travel (based on base fares when applied before taxes and fees) after spending $3,000 in the first three months from account opening. The promotional code expires October 31, 2024. Offers like this can give you and the family a massive head start on booking your dream vacation.

We all deserve a little rest, relaxation, and time with our families. Although traveling with the whole family can seem daunting, using these tips can ease the burden and help you travel like a pro this upcoming summer season.

*Accounts subject to credit approval. Restrictions and limitations apply. Cards are issued by JPMorgan Chase Bank, N.A. Member FDIC. All Rapid Rewards rules and regulations apply and can be found at Southwest.com/rrterms.

2023-05-08T08:01:00

(BPT) – Whether you’re graduating from high school or college, chances are you’re becoming more independent about handling your own money. While finances can be stressful, they don’t always have to be — which is why a new initiative from Secret Deodorant focuses on providing young women with access to free resources to help them kickstart their financial journey. Through this program, Secret has partnered with five highly renowned female finance experts to offer advice about increasing your financial know-how, posting financial literacy discussions on social media through #SecretMoneyMoves to explore the ins and outs of budgeting, negotiating your first salary, understanding your credit score and more.

“Managing your finances can feel overwhelming, especially when you’re becoming financially independent for the first time,” said Carmen Perez, Founder and CEO of the budgeting app MUCH. “But with access to the right tools, this milestone can be an empowering next step into adulthood.”

Here are some tips to help empower you on your journey to financial wellness.

It’s all about that budget

Better money management begins with one simple tactic: budgeting. Tracking exactly how much money is coming in (like your paycheck) and how much is going out (everything you’re spending) is essential to learning how to decrease debt and start saving.

“It’s important to know how much money you’re spending every month compared to your monthly paycheck,” shares Perez. “If you’re spending more than you’re bringing home every month, it’s time to make a change — or you could end up in debt.”

Take a good look at your expenses to see where you could cut back. Which of your costs are essential, like rent, utilities, groceries and debt repayment, and what can you trim (going out to eat, non-essential purchases)? Finding areas where you can cut down on expenses will help ensure that you don’t rely on credit cards — which can lead to more expenses when you have to pay the interest.

Some financial experts swear by the 50/30/20 rule: aiming for about 50% toward essential living expenses, 30% for flexible spending (entertainment) and 20% toward goals such as savings. If you’re seeing more than 30% going to entertainment, you may need to cut back.

Start an emergency fund

As soon as you’re sure you can keep up with necessary bills and expenses, it’s important to get in the savings habit, even if it’s a small amount each month. Consider setting up an automatic deposit of a few dollars from each paycheck into a separate savings account — then leave it alone.

If you do have an emergency later (like an unexpected car repair), you’ll be glad you have your emergency fund.

Pay down debt more actively

Another goal to work toward is paying down your debt as quickly as possible, to reduce the amount of interest you’re paying. Start by paying just a few more dollars than the required minimum payment each month.

There are two schools of thought on paying down debt: one is to identify the credit card or loan charging you the highest interest rate to pay down more aggressively first, which can save you the most money in the long run. Another is to pay toward the smallest debt you owe first, so you’ll have the satisfaction of seeing one debt completely paid off sooner — which can inspire you to keep going. Either approach will get you started on the road to better money habits, so pick one and stick to it.

Don’t be afraid to talk about money — and get help when needed

While many people are reluctant to talk about money with their friends or family, you can learn a lot from others if you’re willing to have an honest discussion. You may also be able to get help from them when you need it, whether in the form of a loan or just some timely advice to help you manage your money better.

“Talking about money may feel uncomfortable at first,” added Perez, “but it’s a great first step toward feeling more confident about handling your own finances.”

Learning how to successfully budget, manage debt and achieve your financial goals is within your grasp. Take control of your financial journey today and visit Secret.com/MoneyMoves to learn more about Secret’s financial empowerment initiative, financial experts and how to get access to free educational resources.

2023-05-02T05:01:00

(BPT) – More Americans are retiring earlier than previous generations. According to a survey by the Federal Reserve Bank, their odds of retiring before age 62 rose to roughly 50% in July 2021, partly due to the pandemic. For many, moving up their retirement seemed like the right choice kgiven the state of the labor market and economy, but many were not and are still not financially prepared to retire.

According to a 2022 retirement confidence survey from the Employee Benefit Research Institute, one in three workers are “not too” or “not at all” confident they will have enough money to live comfortably throughout their retirement. And for those surveyed who say they are confident, retiring “comfortably” only covers the basics like housing, transportation, health care, food and utilities.

Retirement can mean a lot of things, but most people envision it as a time after their working life to enjoy things they may not have had the time to do before. While this looks different from person to person, many look forward to traveling, visiting family and enjoying hobbies.

Are you confident you will be able to retire with your basic expenses covered and enjoy the post-work life you’ve imagined? Check these three things.

1. Define your goals

After decades spent working, the prospect of retirement can feel sudden, and some people may have difficulty envisioning what it will look like. When you picture your retirement, what do you see yourself doing? Traveling abroad and checking cities off your bucket list? Paying for your children’s or grandchildren’s weddings? Setting up a legacy fund for your loved ones?

If you don’t yet know what you want out of retirement, start thinking now. Without clear goals, you won’t know how much money it will take to reach them. Beyond your core living expenses, consider how you would like to spend your time during your “go-go” (the first 10 years of retirement), “slow-go” years (middle retirement), and beyond.

2. See where you stand

Now that you have defined your goals, it’s time to see how your savings, investments, retirement accounts and other assets can support your desired retirement lifestyle. An easy way to check your retirement readiness is to use an online platform like Prudential Stages for Retirement.

This digital tool will take the information you share about your current financial life and retirement goals to determine your personal “confidence score,” which indicates your retirement readiness. In a few steps, you will have a clearer picture of your retirement based on how you are saving and investing today.

3. Speak with an advisor

Once you have a clearer view of the big picture, you can meet with a financial advisor to help map out a step-by-step financial plan. If you do not have a financial advisor, you’re not alone.

Millions of Americans do not have a financial advisor. Some do not because they don’t know how to find someone they trust. Still others may feel an advisor is not for them, mistakenly thinking they need a certain level of wealth to engage a professional’s help. However, establishing a relationship with a financial advisor can help you confidently plan for a better retirement and even give you an edge.

According to the Warrington College of Business, industry data suggests that people who receive professional financial advice can add 1.5%-4% to their portfolio returns over time. Enlisting the help of a financial advisor can make planning for retirement easier and grow your wealth so you can achieve your retirement goals instead of having “just enough,” or even not enough.

Through Prudential Stages for Retirement, you can set up a meeting with a noncommission-based financial advisor who will recommend strategies and products that can help you reach your retirement goals. They will look at your retirement confidence score and establish a personalized plan to help you refine your goals and determine if you’re on track to afford your retirement. You do not have to be an existing Prudential customer; anyone can get started planning a more secure retirement. To learn more and get started, visit Prudential’s Retirement Calculator.

2023-05-01T07:01:00

(BPT) – What are the hottest must-haves of summer 2023? Look at social media and you’ll find influencers touting everything from luxury sunglasses to name-brand emotional support water bottles. These items may be great, but they also can come with a hefty price tag and long waitlists.

Because most people don’t have endless time and money, a new movement is gaining traction: de-influencing. Part of this is avoiding name brands and instead buying affordable dupes that have equal features. Yes, that means it’s now ultra cool to buy duplicates that are comparable to the original product and bask in the savings.

With the rise of the de-influencing trend, Reduce, a reusable drinkware company, is launching in Walmart stores nationwide at the perfect time. The Reduce Cold1 40oz straw tumbler is the ultimate dupe for more expensive, name-branded options. It keeps drinks cold for 40 hours, is cup-holder friendly, has an easy-to-grab handle, includes hydration tracking on the inside and is available for just $19.88.

Think this nice price means skimping on style? Not at all. With two new Walmart-exclusive prints — wave and sunset — as well as popular solid colors, you can choose a style that speaks to you and reflects your personality. Now, no matter what summer adventures await, you have a water bottle that performs and looks great.

Other de-influencing examples for saving and staying cool this summer:

Save by making your own pink drink

Everyone knows that light pink drink that, while delicious, can cost a lot for even a modest cup. Instead, grab a jug of Ocean Spray White Cranberry and coconut milk. You can make more than 40 ounces of your own tasty pink drink to enjoy in your new Cold1 40oz.

Reach for designer sunscreen alternatives

Sun protection is essential, especially when you’re spending time outdoors. Instead of dropping over $30 on designer sunscreen, consider options with rave online reviews that give you the same protection for less. An example: e.l.f.’s Suntouchable! Whoa Glow is half the cost of upscale brands.

Use an affordable, durable sports bottle

No need to spend $50 or more on a sports water bottle. Even the most hardcore outdoor adventurer will love Reduce’s affordable Hydrate Pro sports bottle with an easy-clean silicone straw. It comes in five summery colors and is available at Walmart for less than $20.

Get the look of luxury sunglasses for less

A cool pair of shades enhances your style and protects your peepers from the sun’s harsh rays. Instead of shelling out hundreds on luxury eyewear, you can protect your eyes and your wallet by looking for affordable brands, like Goodr sunglasses that are high-quality and stylish.

Opt for a glass tumbler to get your smoothie and boba fix

Enjoy your favorite summer sips in style with the new Aspen glass tumbler that features borosilicate thermo-shock glass with a vacuum-insulated stainless-steel cover and an extra-large straw perfect for protein shakes, green smoothies, boba tea or milkshakes. The Aspen tumbler keeps drinks cold for up to 12 hours, comes in five colors and is available at Walmart for less than $20.

Looking and feeling great this summer doesn’t mean forking out big money for big brands. Look for dupes like these with quality, function and style that cost much less. Get started at Walmart.com.