Are you a victim of behavioral finance? Find out more from the Beacon Learning Center
Have you explored the Beacon Learning Center yet? The topics, courses, and calculators are endless. You can peruse the site at your leisure or sign up for a customized experience with quizzes, challenges, and even the chance to win money.
Articles that help you determine whether you're a victim of behavioral finance.
1. 6 Actions to Take If You are Living Paycheck to Paycheck
It is estimated that four out of five Americans are currently living "paycheck to paycheck." If you find yourself in this scenario, you probably feel stressed and overwhelmed. It is time to take control of your financial situation.
6 ACTIONS TO TAKE IF YOU ARE LIVING PAYCHECK TO PAYCHECK
2. Are You an Emotional Spender?
After a bad day, it can feel good to go out and treat yourself. Though this can be beneficial when done in moderation, there are times when many of us end up relying on these purchases to brighten our moods. To help you better understand what this type of behavior is, we've answered some of the most important questions one might have about emotional spending.
3. Is Social Media Influencing Your Spending Habits?
You might have heard that spending too much time on social media can affect your mental health, but have you considered how it affects your financial health?
IS SOCIAL MEDIA INFLUENCING YOUR SPENDING HABITS?
4. Are You a Financial Enabler?
If you're trying to figure out whether you've crossed the line from helping out a love one to enabling, we've come up with some broad outlines to help you better assess your personal situation.
5. How to Resist Financial Peer Pressure
When your friends are pressuring you to spend more than you think you ought to, it can be extrememly difficult to say no. We'll look at a few strategies to help you artfully say "no thanks."
HOW TO RESIST FINANCIAL PEER PRESSURE
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Financial Caregivers & The Roles They Play.
Are you in the process of becoming a financial caregiver for someone—maybe an aging parent? There are a few types of financial caregivers, and each one has different roles, responsibilities, and legalities.
POWER OF ATTORNEY – An individual in need of financial assistance (known as the principal) can give another person (known as the agent) a “power of attorney” that allows them to make decisions on the principal’s behalf. The agent typically manages and has access to the principal’s bank and other financial accounts. If the power of attorney is durable, the agent maintains the powers bestowed upon them if the principal later becomes incapacitated.
TRUSTEE – A trustee is a person named in a trust to manage the trust property on behalf of the beneficiaries. Trust property may include different types of property, such as real estate, financial accounts, or personal belongings. Insurance and retirement accounts can also name a trust as a beneficiary. The trustee is responsible for protecting, managing, and distributing trust assets in accordance with the trust document.
FIDUCIARY – A fiduciary is someone who is responsible for managing someone else’s money or property and owes a higher standard of care to the person acting in this capacity. Conservator – A conservator is a person appointed by a court to manage another’s financial affairs.
REPRESENTATIVE PAYEE – A representative payee is a special type of financial caregiver who is appointed to manage government benefits on behalf of someone else, such as Social Security or VA benefits.
BCU Learning Center: 5 Articles that can Help with Your Taxes
Have you explored the Beacon Learning Center yet? The topics, courses and calculators are endless. You can peruse the site at your leisure or sign up for a customized experience with quizzes, challenges and even the chance to win money.
Here are 5 Learning Center articles that can help you with your taxes this year.
1. How Taxes Affect Your Paycheck
Have you ever received a paycheck and been surprised to find that your earning are less than expected? This course breaks down how your taxes affect your paycheck.
How Taxes Affect Your Paycheck
2. Gift and Estate Taxes
If you want to transfer some or all of your assets, be aware that the IRS can tax your possessions whether you're alive or dead. The good news is that Uncle Sam provides plenty of exemptions.
3. Can I Deduct My Tuition From My Federal Taxes
The federal government offers federal tax benefits, tax credit, tax deductions, and savings incentives that can help offset college costs.
Can I Deduct My Tuition From My Federal Taxes
4. How to Get an Even Bigger Tax Refund Next Year
Wouldn't be nice to either increase next year's refund or keep more of your paycheck through the rest of the year? Try these tips.
How to Get an Even Bigger Tax Refund Next Year
5. Understanding Self Employment Taxes
Self-employment taxes can be overwhelming when you're starting your own business. Get started with the basics here.
BCU Learning Center: 5 Articles that can Help Plan Your Budget
Have you explored the Beacon Learning Center yet? The topics, courses, and calculators are endless. You can peruse the site at your leisure or sign up for a customized experience with quizzes, challenges, and even the chance to win money.
Here are 5 Learning Center articles that can help plan your budget.
1. Why Do I Need a Budget?
Budgeting, it's something you hear about a lot. But unless you've ever maintained a budget of your own, the benefits of using one may seem a little obscure. In this video, we'll take a look at the basics.
2. Learning Your Budget Basics
Budgeting is one of the cornerstones of effective money management. Learning to keep track of where your income is coming from, and where it's going, can help you better understand and control your finances.
3. The Components of a Budget
When setting up your budget, it's important to know the different components that go into one. In this video, we'll cover the two main factors that you'll need to assess—income and expenses.
4. 7 Ways to Budget Without Budgeting
Budgeting can feel like a tedious task that requires a lot of time and organization. But you don’t have to write down every item you buy to stay on track financially. Try these 7 tips for managing your finances.
7 Ways to Budget Without Budgeting
5. 4 Budget Items You're Not Thinking About but Should Be
When you think about your monthly budget, you might only think about your regular bills like your utilities and rent. However, you should also include the items you may be underestimating or not accounting for at all.
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