(NC) Life is expensive, and no matter what your income it’s easy to feel like you’re constantly broke. But worrying about money doesn’t have to be the norm.
Here, Shannon Lee Simmons, founder of the New School of Finance. Also, the author of Worry-Free Money offers tips to help you achieve financial security.
1. Practice smart budgeting.
Budgets are traditionally rigid and often don’t allow you to spend money in realistic ways. Flexible and tailored to your needs, the key to worry-free money is a comprehensive plan. This is so that you can achieve your financial goals. In parallel while leaving room to spend on things you enjoy. Before you map out those long-term goals. You must make a list of short-term action items that will help you get to where you’re going. Hence, without halting your spending full-stop.
2. Know your limits.
Don’t fall into the trap of mindless spending. Without knowing where the cash went i.e. quick spendings. Another surprising thing is a big bill that’s coming to shock you at the end of the month. Set limits and stick to them to make sure you save for retirement without falling into debt. An easy way to do this is paying with debit using Interac Flash, so you’re not accumulating credit card debt you can’t afford. The debit is also a fast, secure and convenient way to spend your own money, and you can instantly see your transactions and keep track of them to achieve your goals.
3. Secure your finances.
Having a financial plan is one thing, but you also need to know that the way you spend is safe. With contactless payment technologies, it’s now easier and more secure to just flash your debit card or mobile device for small purchases. Built-in spending limits help you maintain control while protecting you if you lose your card. Plus, the Interac Zero Liability Policy means you don’t have to worry as you are not responsible for losses beyond your control.
RIDE THE WAVE OF SUMMER SPENDING
(NC) Summer is often synonymous with spending, with warm weather driving everyone outdoors and social feeds heating up. Money management isn’t always on top of the mind. If you are headed to your local patio, or on a sports adventure trip. In addition to this, supporting your hometown sports team or any related activity.
Fortunately, there are a few tips to keep your spending in control this season:
SET A BUDGET FOR FUN — AND STICK TO YOUR LIMITS.
If you plan your activities in advance, it’s easier to get a sense of what things cost and map your spending accordingly. If you know how you can accommodate the expense later, you are sure of your spendings when you know you are in control of your finances. However, there will always be those last-minute can’t be missed opportunities.
Use your own money. Don’t let your summer bills follow you into the fall by accumulating spending debt. Financial expert Shannon Lee Simmons, founder of the New School of Finance, suggests selecting debit to pay for fun activities. Not only are you spending your own money instead of accumulating debt, with a mobile banking app you can track your transactions in real-time to keep tabs on what you’re spending. Options like Interac Flash make it easy to make quick, small purchases and stay in control.
PROTECT YOUR FINANCES AND YOURSELF FROM FRAUD.
Some payment technologies have built-in security features to help keep your money safe. For example, your debit card is an identifier only — no financial information is exchanged with the merchant and this is true whether you insert your card and enter a PIN, use Interac Flash or Interac Debit on your mobile device.
Fighting fraud: keeping your money safe online and in-store
(NC) No one wants to be a victim of payment fraud. Yet almost a quarter of Canadians say they have clicked on a link that resulted in a phishing scam, while 64 per cent have been tempted to click on a link they weren’t completely sure was safe.
When it comes to your money, there’s no shortage of tips for staying safe. Here are five reminders to help you stay protected, whether you’re shopping online or in-store.
Your card number is only an identifier, so no banking information is shared with the merchant when you make a purchase. Plus, when it comes to going contactless, Interac Flash uses secure chip processing. That makes it next to impossible to create counterfeit cards and protects against fraudulent activities like skimming or electronic pickpocketing
Your mobile wallet is secure.
Just like your debit card number is only an identifier in-store when the debit is added to a mobile wallet, financial information is substituted with a token, which is a unique virtual account number that means no financial information is stored or shared with the merchant. As an added layer of security, your mobile wallet is also typically protected by Touch ID or passcode.
It’s okay to be suspicious
If you suspect anything unusual when using an ABM or point-of-sale terminal, do not use the machine but report it to your financial institution. Equally, if you’re unsure whether a phone call or email link requesting money is legitimate, hang up or ignore the email until you can confirm the source.
Always keep your banking information private.
Even when using Interac Flash, you’ll be periodically prompted to validate that you are you by entering your PIN. Protect your PIN — don’t share it with anyone and be sure to shield the PIN pad when you’re entering your number. Stay in control by checking your statements regularly to watch for any usual activity.
Find more information on how you can keep your money secure online at interac.ca/flash