money management

Quick Banking Tips!

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credit-vs-debit-2While shopping this holiday season, remember that the Federal Reserve is closed on the holidays. Why does this matter, you may ask yourself. Well, here is why it matters:

  1. Signing for your purchases (choosing credit): When the Federal Reserve is closed, your transactions are not posted to your bank account or credit card in real-time. Basically it’s delayed until the next business day. So the money in your account from Friday isn’t the money you will have after Monday. You must deduct all of your receipts from your shopping adventure BEFORE you spend another penny to be sure that there is enough money to cover those gifts. If you have already done this- great, you should be set.
  2. When using debit (entering your PIN), the money is deducted immediately (real-time) and shows as pending on your account activity. This is the best option in my opinion; however, that choice is yours’ to make. So, if you choose to use method number (1), just follow the instructions provided.
  3. Balance your register (checkbook)- this will determine if you’re on point with your spending from the start and after the bank has updated their systems with all your holiday shopping. In this instance, on Tuesday night.

The most important thing about this post is to prevent insufficient fund fees from hitting your account. Being mindful of your spending habits/triggers will help to relieve anxiety before, during and after the holidays. Trust me, your friendly customer service representatives at the bank will thank you. winkingsmiley

My years of customer service training is definitely serving its purpose and I appreciate the opportunity to share with you some of my experiences in finance. Thanks for reading, remember to like, share, and/or comment!

Happy Holidays! See you next year. Until then..

Wishing you and yours peace, love, and prosperity

ET

*featured image credit to rightful owner

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Know Thyself

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“The focus should not be on money first- knowledge of self and spirit should be at the forefront first; otherwise one will only grow to identify themselves and/or their leadership THROUGH MONEY…” ~ Mandela Elliott

I agree wholeheartedly with this statement, then he goes on saying-

“…when one truly has knowledge of self tho’, he/she can discern and vibrate with real versus the fake from miles away and will be able to hold themselves more accountable of their choices, instead of being deceived and looking for the accountability or change from others.”

EXACTLY!

In my book, Journey Into Finance- I delve into understanding one’s triggers and the economic structure to improve their financial outlook and broaden their horizon’s once they begin their ascension to the next level in their lives.

journey-into-finance-1

Here’s what others are saying about JOURNEY INTO FINANCE (find it here- https://etjourne.com/my-favorite-things/) 5 of 5 STARS

“Read This And Find A Way To Keep More Of What You Work Hard For.”
by Amazon Customer on April 18, 2016
A well-written and extremely helpful book. E. N. Towner is sharing knowledge that can help others to make a real financial difference in their lives. I highly recommend this book for anyone who wants to be able to keep more of their hard earned $$.”

“Very informative”
by Amazon Customer on January 8, 2016
A must read !!!! Well written, concise, insightful and informative !!!!! Roslyn Owens

“Must Buy”
By Masheka Towner on January 11, 2016
Everything you need to begin your road To finance !!!
GREAT INVESTMENT!

“Five Stars”
ByAmazon Customeron January 15, 2016
Verified Purchase
very informative Excellent buy especially for young families.

“Great read and very informative”
by Amazon Customer on January 12, 2016
Lots of “gems” in this book. Great read and very informative. Would definitely recommend to a young family trying to establish themselves.

Thank you for reading and reviewing my work.

ET

View all my reviews

Thank you to those who shared their personal experiences (reviews) after reading Journey Into Finance.

Have a great day! Until next time…

Wishing you peace and prosperity,

ET

Banking: Credit vs. Debit (update)

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Credit vs. Debit (1)

When I talk about credit vs. debit, I’m not speaking about the retail/revolving line of credit cards, we’re discussing the debit card purchases or PIN based transactions vs. using your bank card like a credit card for signature-based transactions. The question was asked, “is one better than the other?” My response, although rather vague at the time was “it depends”. The person sitting across from me then edged me on…”depends on what?!” So, I put my pen down and sat back in my chair then looked over my glasses at her earnestly and said, “whether you have money in your bank account at the time of the transaction for it to be declined or approved.” The young lady was still looking confused, so I decided to break it down a bit more for the sake of additional questions (I was in a hurry to complete an assignment).

“If you use your PIN, the terminal uses your current collected balance to determine if there is sufficient funds available to approve the purchase. In the event you don’t have enough money to cover the transaction or purchase amount, then using credit to sign for your items, is a way to save you the embarrassment of being declined at the time of check out. That is, if you have set up the ‘debit card overdraft coverage’ option with your bank. (something I would not advocate, unless it’s a case of I have no money to by food for me and my children).”

atm or debit (1)

I could tell that my young friend still wasn’t getting it so I turned around in my swivel chair, got up and walked towards my bookshelf, searched for Journey Into Finance by E.N. Towner, flipped through the pages of Chapter 1 found what I was looking for and handed her the book. “Read Chapter 1, and if you have any further questions, call me to set up an appointment to discuss them.” That was how I earned my first paying client. We set up a counseling session for every other Saturday in the morning. I called our session “Banking: Getting on Track”, which can be purchased for a limited time at a ridiculously low price of $25.00.

Update- while running some errands today, I stopped to pick up a few groceries at Walmart. The lady in line ahead of me was attempting to use her debit card as a credit card and was told by the cashier that they no longer allow a debit card to be used as credit. Skeptical The lady was confused as she began searching for a credit card to use instead of her debit card. The cashier said, “they’re starting to do this so that people can’t take a stolen debit card to purchase large ticket items”.

*Feeling a bit cynical about corporate America- I thought to myself, serves them right. Turning good workers away (cashiers) who request to see some identification, would normally prevent these type of thefts  just to save money to invest in programmed machines instead!*  Whoa, it’s time to head home and do some meditating ’cause I’m feeling some kinda way today. Somebody had to say it, I’m just keeping it real. Short, sweet (kind of), and packed with information.

(UPDATE) 

After some complaining from customers, the terminal owners offered merchants the convenience of a non- PIN based option for their purchases. Now if you pay attention, you’ll see the option of NO PIN. This is especially helpful for credit cards and can work with the debit cards as well for signature based purchases. 

That’s all for now. Thanks for reading, until next time…like, share, and/or comment.

Wishing you peace and prosperity,

ET

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