Jill Russo Foster

Tips for Successful Personal Finances

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Make this year count – Free Audio!

Free Audio available from Jill Russo Foster

This year could be different!

  • Do you want to know where your money is going?
  • Do you want to make changes so that you can save more for fun things in your life, pay off your debt, plan for your retirement, or your children’s education?
  • Do you want to improve your credit and therefore your score?
  • Do you want to be able to have a system for your financial paperwork?

Download the Audio

Visit JillRussoFoster.com/YourMoney

I look forward to helping you improve your finances.

Jill Russo Foster

With help, this year could be different

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Details on how Jill can help below.

Now that it’s January, have you noticed that your year is starting just like years past? Are you vowing to pay off your debt, save more money, spend your money more wisely, and just get your finances organized?

Have you ever wondered where your money goes?

Do you look at your wallet or bank account and wish there was more money there?

Do you wake up during the night, and just lay there, wondering how you will pay your debt?

Do you dread looking into your finances? Is there a hidden part of you that believes, somehow, that not looking means that maybe the problems don’t exist?

You are not alone.  Most people have no idea where their money goes. Most people can’t answer questions about how much debt they have, or what their credit score is.

This year could be different!

  • Do you want to know where your money is going?
  • Do you want to make changes so that you can save more for fun things in your life, pay off your debt, plan for your retirement, or your children’s education?
  • Do you want to improve your credit and therefore your score?
  • Do you want to be able to have a system for your financial paperwork?

Download the Free Call Audio

Visit JillRussoFoster.com/YourMoney

It’s January! Time to start the year off right!

It’s time to order your credit report
This month use Experian

Hello everyone! This is your quarterly reminder from me.

Order your free credit report from www.AnnualCreditReport.com.

AnnualCreditReport.com is the ONLY authorized source for a truly FREE annual credit report that’s yours by law. You have the right to know. Exercise your rights! Learn more.

When ordering online:

  1. Select your state, then click Request Report.
  2. Fill out your information, then click Continue.
  3. When it asks you to select a service, select Experian.

Not comfortable ordering online? There are three ways you can order your report:

It doesn’t matter how you get your report, the most important thing is that you do! Then…

  • Review it for accuracy!
  • Follow the instructions with the report to correct any errors.
  • And, always remember to keep copies for your records.

Do you want to know your credit score? Use CreditKarma.com. Credit Karma will give you a close approximation of your FICO score, and it’s free.

May you have a blessed and successful year!

Jill Russo Foster

P.S. You will receive another reminder in May and September, allowing you to stay up-to-date on your credit throughout the year.

Holiday Wishes from Jill

In December, we celebrate the holidays by stringing lights and lighting candles. We reflect on the year that’s about to end – noting our accomplishments.  By year end, we are setting goals and making plans for the new year. All this while, spending time with family and friends.

My wish for you is that you have a holiday season filled with warmth, love and hope for the future.

Happy Holidays from Jill Russo Foster

When should you use a credit card?

When should you use a credit card? I get asked this all time.  There is no simple answer for everyone.  Only you know what kind of spender you are.

Here are some general guidelines:

You can charge anything within your monthly budget if you pay your credit card bill in full each and every month.

However, you should think twice before using your card if you are paying down your debt and are currently incurring interest on your credit card bill.

Some people feel that you should never use a credit card. I disagree. Credit cards can actually help you maintain a good credit rating if you stay within your means. And, some credit cards offer benefits like consumer protection.  These benefits should come with the card at no cost, or minimal cost, to you.  Here are some examples:

  • American Express offers travel insurance at a minimal cost when you charge an airline ticket.
  • Some credit cards offer purchase protection on lost or broken merchandise.
  • Some credit cards offer an extended on purchases.
  • Some offer  insurance coverage on rental cars.

Know all the perks that come with your credit card, that can help you decide whether to make a purchase on credit.  If you’re not sure what benefits your card offers, call them for details.

My gift to you for the year 2012

You’ve heard me say how important it is that you check your credit report. You’ve also heard me say that you can check your credit report for free – 3 times per year. That’s because each of the three major credit reporting agencies must give you access to their version of your report.

But, how many of you remember to order your credit report even once, let alone 3 times?

I promise to help you remember. As my blog subscriber, you will receive three reminders  this year: one in January, one in May and one in September. Each reminder will tell you exactly how to order your report and which agency to choose. Easy!

Do you want to share this gift with your friends? Simply share this post and allow them to sign up for free credit report reminders, too! There are many ways to subscribe:

Jill Russo Foster

Potholes on the Road to Success

Do you feel like you’re stuck?  Are your goals the same this year as the year before (and the year before that?)  Here we are near the end of another year.  Did you achieve your goal?  If not, read on.

Earlier this year, I did a talk about the things people believe about money. The attendees were given a list of money scenarios, and I asked them to check off the scenarios they believed were true about them.  Nearly everyone in the room checked off beliefs of scarcity – robbing Peter to pay Paul, not having enough to pay monthly bills, etc.  I suggested that it was their beliefs holding them back – and not their situation

Let’s go back and talk about beliefs.  Beliefs are not facts. They are often things that you learned when you were younger and you now believe them to be true (whether they are or not).  One belief that I struggle with is that I am not worthy of success.  I have done a lot of reading, and a lot of work on myself, to overcome this belief.   I have to admit that I am not fully there, and there are times that I catch myself reverting back to my old thoughts. Overcoming false beliefs can be a never ending process.

I’ve learned that I have to retrain my subconscious mind to accept a new belief or affirmation.  An affirmation is a positive belief that reframes your thoughts.  Taking my example, I replace the words “I am not worthy” with “I am deserving of happiness, success and love just the way I am.” I repeat this affirmation to myself several times a day until I believe it to be true.

You can reframe any belief into a positive affirmation.  Remember that old philosophical question:  is the glass half empty or half full?  Train your subconscious mind to think positively and you will be amazed at what life brings you when you are open to receive it.

How to set your goals for 2012:

  1. Reframe each goal into an affirmation, i.e. “I deserve to be free of debt.”
  2. Write down the reasons you want each goal.  Reasons can help you to see the bigger picture.  For example, if your goal is to be free of debt, you could write “I want to be stress free. I want to focus on saving for retirement. I want a more flexible monthly budget.”

Now that you’ve set your goals for 2012, try this for your 2012 resolution.

  1. Think positive.
  2. Be aware of when a negative belief comes up and replace it with your affirmation.
  3. Make a list of the things that you are grateful for each and every day to keep you in that half full glass mode.

When you give yourself a positive outlook, you clear the path to achieving your goals in all areas of your life.

Should you move your money?

Since the Credit Card Act of 2009, banks have been looking for ways to make up for lost revenue.  Has your bank increased fees or even added new fees? Look for changes in…

  • overdraft fees
  • inactivity fees
  • annual fees
  • ATM fees

This past month, a major bank decided against adding a debit card fee.  I believe that negative consumer response was the only reason they changed their plan. Their customers did not want to pay to use a debit card and they made their voices heard.

But what if the protests hadn’t worked? Being a consumer means you have a choice. You don’t have to stay with the same bank. You can choose a bank, or even a credit union, that has no fees or minimal fees.

It’s very simple to move your money.  If you are unhappy with your bank, do some research and change banks.  There are plenty of banks and credit unions that will give you a free checking account with no ATM fees.

Some banks have investment policies or divisions that made them more vulnerable during the crisis. These banks are going to have to make up lost revenue. Even though that particular bank did not go forward with the new debit card fee, they may find a less controversial way to increase their fees.

You need to be aware that fee increases could be coming your way. Look at your monthly statements and the inserts. Be aware of what is going on at your bank so you can be proactive.

What are you grateful for?

I write a journal most nights about what I am grateful for from that day.  I list the five best things (sometimes more) that happened that day.

They can be as simple as the stranger who held the door open for me, that parking space that opened up, those 5 extra minutes in the morning, an unexpected income check, or a bill coming in smaller than I expected.  Looking at the world through grateful eyes helps me stay positive for whatever life throws at me.

I am grateful for you and all of my readers. I’m grateful for your great feedback, suggestions and the progress you are making with your finances. I truly love to hear from you, so keep those emails and posts coming.  I am thankful for Val, my terrific assistant, who makes this and many other things happen from behind the scenes. You make my life so much easier.

Smart Charitable Giving

The end of the year is coming up. People are meeting with their tax preparers to find out how to increase their deductions.

Now is a great time to increase your charitable donations. The charities know it too, so they increase their advertising this time of the year. Most of them look like great causes, but, you need to determine if the charity is legitimate and how your donation will be used.

Choosing a charitable organization can be challenging. Here’s what you need to look for:

  • They must have a 501(c) tax status if you are planning to deduct this on your IRS tax return.
  • Find out how much of each dollar is used for the cause, versus how much is used for administration expenses. The higher the dollar amount used for the cause, the better.

How do you find that information? Go to www.Give.org before making your donation.

Once you have chosen your charities, make sure you have the proper documentation for tax purposes.

  • For monetary donations, a cancelled check can be your receipt.
  • For non-cash items such as food, clothing, household items, furniture etc., you will need to make an itemized list of the items with the value. Your tax preparer can help you to determine the value of each item. Make sure to get a receipt for your donation. Attach this to your itemized list and keep it with your tax records.