The bad news is that there’s a good chance your personal information was stolen during the massive data hack of Equifax, one of America’s three largest credit reporting agency.
More than 140 million Americans affected
The recent data breach in which more than 140 million Equifax accounts were hacked is considered one of the largest ever, and serves as a reminder that we now live in a time that requires all of us to take proactive steps to protect our financial and personal data.
On July 6, 2017 the Federal Trade Commission (FTC) issued an alert on scammers posing as FTC officials who contact individuals and claim they have won prizes from a charity contest. The scammers ask for money to cover taxes or insurance costs associated with the prize. While this is a new malicious campaign, scammers use these basic tactics time and time again with slightly different wording to take advantage of unsuspecting individuals. It may seem like a day doesn’t go by without scammers contacting you online or by phone seeking money and/or personal information.
A healthy savings account is your best defense against life’s curve balls. But sometimes setting aside some money every paycheck isn’t enough—particularly when you’re just starting out in life.
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When it comes to saving, something is better than nothing, and more is better than less. That’s not much help—but this simple guideline might be:
- 50% of your after-tax income goes to needs
- 20% goes to savings and debt repayment
- 30% is for wants