Monthly Archives: March 2021

How to Protect Your Social Media Accounts

phone

Social media is growing and expanding each day, with nearly 3 billion people on Facebook and over 2 billion on YouTube. Platforms like these along with Instagram, Twitter, Snapchat and more require usernames and passwords, but there’s always the unfortunate chance that your account is compromised. We’re here to provide you with a few simple things you can do to protect your social media accounts. 

Two-Factor Authentication 

Adding an extra step to your login process is always a good way to protect your account from being hacked. Examples of two-factor authentication include having to enter a code sent to your phone, scanning your fingerprint or using face ID in order to confirm your identity. Most social media platforms offer this as an option in settings. 

Try Out a Password Manager 

Not only is it important to have a strong password, but you should also vary your passwords across your social media accounts. If you use the same password for every account and one gets hacked, then they’re all compromised. Be sure to include numbers, upper and lowercase letters and special characters to make each password unique. It’s also smart to update your passwords periodically. Keeping track of all of them may seem tricky, but an online password manager will take care of that for you. 

Double-Check Your Friends 

Now’s a good time to go through your Facebook friends and make sure you know them all. If you get a friend request but you don’t know the person who sent it, just decline it and stick to the people you’re familiar with. One common way hackers access your information easier is by making fake accounts and sending you a request so they can see more of your personal information. 

Don’t Overshare 

Even if all of your friends or followers are people you know, you still want to be careful what you’re sharing online. Don’t share personal information like your address, social security number, financial information or other things you wouldn’t want people knowing. Think of everything you share online as permanent for anyone to access, whether it’s shared in a private group or not.  

See What’s Provided in Your Profile 

To go along with the previous point, there are some things your friends can see without harm. For example, having your hometown in your private profile usually does no harm since the people you know most likely already know this information about you. The important part is to make sure those things are private and only accessible to your friends rather than on your public profile. 

With new and exciting technology comes the necessity to keep your information secure, private and protected. Following the above tips and guarding your social media accounts will help you avoid hackers who can compromise your personal information. Contact us for more cybersecurity information or to learn about the financial services we offer! 

Money Management: Self-Employment Edition

employment

With the flexibility and freedom of self-employment comes the tricky challenge of managing your finances properly. Whether you’re new to the freelancing field or already know your way around the ropes, a quick money refresher is always a good idea. Below are our top money management tips for the self-employed. 

Have a Plan 

Budgeting is just as important in your freelance business as it is in your personal life. This may be tricky with the inconsistencies in your income, but calculating an average monthly income and budgeting off of that is helpful. Knowing how to budget will become easier the longer you are self-employed as it’s often easiest to learn from experience. 

Keep Records Organized 

Not only is it important for you to keep records of past paperwork, such as billing and sales history, but you should keep everything as orderly as possible. This will help you feel organized, plus when a previous customer has a question, you can easily refer back to their purchase. Keeping copies of receipts is also important for tax time. 

Set Goals for Yourself 

Being your own boss means not always having someone watching your progress and analyzing your work like most 9-5 jobs. In order for your business to grow financially, you need to set some short-term and long-term goals for yourself. Whether that’s selling a certain amount of your product or service, expanding on your product or service line or simply reaching more customers, create a SMART goal and do what you can to achieve it. 

Build on Your Emergency Fund 

Self-employment often means a varying monthly income. Because of this, having a solid emergency fund is crucial so you have a backup if things go south for a few months. Financial experts usually recommend having three to six months’ worth of living expenses saved up. Continue adding to your emergency fund each month for added peace of mind! 

Keep Personal and Business Finances Separate 

One of the keys to managing your money properly while being self-employed is having a separate business account. This will also help you keep a more detailed record of your finances for tax return purposes. 

Ask for Help 

The final, but one of the most important tips, is to accept help from others. One of the best ways to understand the ins and outs of self-employment is to reach out to an experienced individual in your shoes. If financial troubles progress, don’t hesitate to talk to a professional to see what your next steps should be. 

Self-employment, while it may pose its challenges, is ultimately a rewarding path to pursue for many. Having a financial plan and sticking to it is the key! We’re here to help you with all things finance, so if you have any questions feel free to contact us – we’re happy to help. 

New Year, New Financial Goals

piggy-bank

Whether your goal this year is to save up for a big purchase or have a pile of debt to work on, make 2021 the year you focus on your funds. Below are some ideas of financial goals you can set. 

Short-Term Goals 

When you set a short-term goal, you normally aim to accomplish it within 1-12 months. The following examples are goals you should aim to attain by next New Year’s Eve: 

  • Build an emergency fund 
  • Save for next year’s Christmas gifts 
  • Create a new budget 
  • Pick three bills to cut down on (cable, cell phone, etc.) 

Mid-Term Goals 

Mid-term financial goals can range in the time period in which you accomplish them, but typically they take about five years to achieve.  

  • Save for a down payment 
  • Build on your emergency fund 
  • Pay off credit card debt 
  • Save up for a vacation 
  • Improving your credit score 
  • Increasing your income 

Long-Term Goals 

Setting a long-term goal usually means you plan on accomplishing it within 5-10 years. How many years you decide to give yourself depends on how much debt you have, how many kids you plan on having and other factors unique to your situation. However long it may take you, here are some examples of long-term financial goals: 

  • Save up for retirement 
  • Start your own business 
  • Pay off your student loan debt 
  • Save for your child’s college, wedding, etc. 
  • Becoming debt-free 
  • Pay off your mortgage 
  • Establish financial security 

Now that you have some ideas, pick your favorite short-term, mid-term and long-term goals to accomplish and make it happen! After a long and unexpected 2020, let’s make 2021 the best financial year yet. Contact us to learn how we can help you take hold of your finances this year.