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Going
for the Goals |
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The holiday season is here, and it’s time to start thinking
about those pesky resolutions for the New Year. The most
popular resolutions consistently include losing weight and
getting fit, drinking or smoking less, spending quality time
with family and friends, doing more charity work—and, of
course, saving money and getting out of debt. These are timely
resolutions no matter when you make them. To help make your
money-related resolutions last, here’s
a brief guide to setting (and achieving) financial goals.
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Taking
Aim at Price Targeting |
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Tim Harford says
he’s discovered a "secret cappuccino" at
Starbucks. It’s not on the menu and not in any of the
leaflets describing the company’s range of beverages. It’s
not skinny or grande, and it doesn’t come with any fancy
whipped creams or flavored syrups. It’s just an ordinary 8
oz. cappuccino and Harford says if you ask for it, you will
get it. Why would Starbucks—or any other coffee bar, for
that matter—go to all the trouble of offering a certain type
of drink and then not bother to tell anyone about it?
According to Harford, it’s basic economics. Read
about price targeting in the complete article
from best-selling author James Geary.
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Adding
Up the Value of Your Credit |
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Credit
is part of the American lifestyle. References to credit are
everywhere, and while that may seem a reflection of too many
companies offering credit and encouraging overspending, it
also reflects the important role credit and your credit report
play when it comes to many financial decisions. Lending
institutions use the information in your report to decide if
you seem likely to repay a loan on time and in full. Having a
good credit report makes it easier to get a loan with lower
interest rates, which means the smaller your monthly payments
and the smaller the overall cost of the loan will be. Read
more about how credit agencies score the value of your credit.
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Learning
More About Titles Financial Planners Use |
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Making the
decision to seek professional financial planning assistance is
an important step in protecting your financial future. When
you’ve made that decision, you’ve likely taken time to
educate yourself about the benefits financial planning can
provide you and taken time to learn how
to choose a planner that’s right for you.
When you begin interviewing individual planners, your learning
curve may not be over. You’re likely to run across financial
planners who use different titles that represent different
licenses and professional certifications. Before you begin
interviewing financial planners, it pays to review some of the
common financial planning titles and learn what those titles
say about the standards to which those financial planners are
held. Read
more.
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Recent
Financial Alerts |
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NASD has issued a
new consumer alert about the 529 plans that have become a
popular savings tool for parents wanting to pay for their
child’s university education. 529 plans are not all the
same, however, and the tax benefits of a 529 plan will vary
depending on what state you reside in. In this alert, NASD
reviews 529 college saving plans – including information on
fees, expenses and out-of-state plans – and provides eight
lessons to help consumers choose a 529 plan wisely.
The National Association of Insurance Commissioners (NAIC)
has also issued a consumer alert that explains how insurance
companies use one’s credit score and how a credit score can
affect auto and homeowner’s insurance premiums.
Read
more about these and
other financial alerts.
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About
This eNewsletter |
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You
are receiving this e-mail because you subscribed to CFP Board's
eNewsletter. Periodically, CFP Board will e-mail you "It's Your
Turn," which includes information about financial planning,
consumer alerts, financial planning tools and resources and much
more. Suggestions and feedback are welcome at
mail@CFP-Board.org.
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