Money Management

This could be your ticket to more money in 2023. 

January and February are the most popular hiring months of the year, so now’s the perfect time to start searching for a new position if you’re unsatisfied with your current job. But if you want to give yourself the best chance of success, you need to do more than just submit your application. Here are four simple steps you can take right now to help yourself stand out from the crowd.

1. Update your resume

Unless you’ve changed jobs recently, your resume probably doesn’t show all of your achievements from your latest position, so now’s the time to update it. Provide concrete examples of how you’ve helped your employer, and don’t be afraid to insert specific numbers where appropriate.

Once you’ve done that, review the whole resume to make sure all the information there is accurate. Make sure your contact information, in particular, is up to date so any interested employers won’t have difficulty reaching out to you.

When you find a job application you’re interested in, it’s usually best to go over your resume once more and tweak it to fit the position. If you have any skills or experience that are especially relevant to the job, make sure to call them out. And if there are keywords that appear several times in the job description, see if you can work some of these in naturally as well. This will increase the odds that your application actually gets some attention rather than just being tossed aside.

2. Work on your interview skills

Many positions require candidates to come in for one or more rounds of interviews before they actually land the job, so it’s important to know how to make a good impression. Consider working with a friend or partner to practice common interview questions and read up on good interview techniques. If you know someone who works for the company you’re interested in, ask them about what the interview process is like so you know what to expect.

You may also want to think about what questions you’d like to ask the hiring managers during the interview. Having a few questions ready can show your interest in the position and help you decide whether it’s the right fit for you.

3. Finish up any certifications you’re working on

Adding certifications or training that are relevant to your field can help your resume stand out from the rest. If you’ve planned to pursue additional education for your job, now is a great time to get started or to finish up.

Even if the certifications will take you longer than a few months to achieve, they’re still a worthwhile investment. You may be able to find an even better position in the future once your training is complete.

4. Reach out to your network

Online job boards can be great resources for finding job openings, but don’t underestimate the value of your network. Check with family and friends to see if they know of any companies in your industry that are hiring. You may be able to find something this way that you wouldn’t have otherwise known about.

None of these tips will guarantee you a job, but if you have the right skill set for the position, they should at least start you down the right track and hopefully lead to more money in your bank account. But as with any job search, don’t expect immediate results. Stick with it and keep checking for new opportunities because you never know what might come up.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Image source: Getty Images
What happenedZelle and Bank of America say they have fixed a technical issue that caused reports of missing funds and log-in difficulties. On the morning of Wednesday Jan. 18, users complained on social media that their transfers had disappeared and Downdetector showed a spike in outages. According to NPR, the problem had been fixed by 3 p.m. the same day.So whatZelle is a popular payment app that makes it quick and easy to send money to friends and family. It is free to use and integrates with many U.S. banks, including Bank of America. However, as the recent outage highlighted, these systems are not perfect. Not only has Zelle been criticized for not doing enough to prevent fraud, it’s not always easy to get answers when things go wrong.
Save: This credit card has one of the longest 0% intro APR periods aroundMore: Save while you pay off debt with one of these top-rated balance transfer credit cards
It can be nerve wracking to find money has disappeared from your bank account, and even more so when you call to find out what’s going on and can’t get through. One user tweeted, “My Zelle transfer from Jan 17th didn’t show up on my Bank of America account. What’s going on? It was a big amount and I want to know what happened to my money.” Other customers reported similar issues. According to ABC News, Bank of America did put a warning on its app saying, “Transactions made between January 14 and January 17 may be delayed in occurring and posting to accounts as requested.” But customers complained the bank’s fraud line was down and many complained they couldn’t get reach customer support. Now whatIf money disappears in any form from your bank account, contact the bank immediately. In this case, the problem was down to a broader technical issue, but it could have been fraud or a banking error. Document what’s happened in any way you can — use screenshots, or download any proofs of transfer or other information. Even if you have to wait a long time to speak to the help desk, the sooner you can log the problem in the system, the better. A broader concern about Zelle is that, unlike payments made with, say, a credit card, it doesn’t offer fraud protection for buyers. It’s one thing if your account was hacked and someone made unauthorized purchases. In this scenario, Zelle says you’d typically be able to get your money back. But if you authorize a transaction that turns out to be fraudulent or a scam on Zelle, you’re unlikely to be able to recover that money. That’s why it’s important to only use the app to pay people you know and trust. Moreover, if a seller online wants to be paid by Zelle, be suspicious, especially for a first time payment.In contrast, credit card issuers are legally required to give fraud protection with only a $50 liability for the customer. Indeed, many top credit cards have zero liability on fraudulent charges. Some apps give customers more protection against fraud as well. Check out our list of top payment apps for more information. These savings accounts are FDIC insured and could earn you more than 13x your bankMany people are missing out on guaranteed returns as their money languishes in a big bank savings account earning next to no interest. Our picks of the best online savings accounts can earn you more than 13x the national average savings account rate. Click here to uncover the best-in-class picks that landed a spot on our shortlist of the best savings accounts for 2023.We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Bank of America is an advertising partner of The Ascent, a Motley Fool company. Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America. The Motley Fool has a disclosure policy. 

What happened

Zelle and Bank of America say they have fixed a technical issue that caused reports of missing funds and log-in difficulties. On the morning of Wednesday Jan. 18, users complained on social media that their transfers had disappeared and Downdetector showed a spike in outages. According to NPR, the problem had been fixed by 3 p.m. the same day.

So what

Zelle is a popular payment app that makes it quick and easy to send money to friends and family. It is free to use and integrates with many U.S. banks, including Bank of America. However, as the recent outage highlighted, these systems are not perfect. Not only has Zelle been criticized for not doing enough to prevent fraud, it’s not always easy to get answers when things go wrong.

It can be nerve wracking to find money has disappeared from your bank account, and even more so when you call to find out what’s going on and can’t get through. One user tweeted, “My Zelle transfer from Jan 17th didn’t show up on my Bank of America account. What’s going on? It was a big amount and I want to know what happened to my money.” Other customers reported similar issues.

According to ABC News, Bank of America did put a warning on its app saying, “Transactions made between January 14 and January 17 may be delayed in occurring and posting to accounts as requested.” But customers complained the bank’s fraud line was down and many complained they couldn’t get reach customer support.

Now what

If money disappears in any form from your bank account, contact the bank immediately. In this case, the problem was down to a broader technical issue, but it could have been fraud or a banking error. Document what’s happened in any way you can — use screenshots, or download any proofs of transfer or other information. Even if you have to wait a long time to speak to the help desk, the sooner you can log the problem in the system, the better.

A broader concern about Zelle is that, unlike payments made with, say, a credit card, it doesn’t offer fraud protection for buyers. It’s one thing if your account was hacked and someone made unauthorized purchases. In this scenario, Zelle says you’d typically be able to get your money back.

But if you authorize a transaction that turns out to be fraudulent or a scam on Zelle, you’re unlikely to be able to recover that money. That’s why it’s important to only use the app to pay people you know and trust. Moreover, if a seller online wants to be paid by Zelle, be suspicious, especially for a first time payment.

In contrast, credit card issuers are legally required to give fraud protection with only a $50 liability for the customer. Indeed, many top credit cards have zero liability on fraudulent charges. Some apps give customers more protection against fraud as well. Check out our list of top payment apps for more information.

These savings accounts are FDIC insured and could earn you more than 13x your bank

Many people are missing out on guaranteed returns as their money languishes in a big bank savings account earning next to no interest. Our picks of the best online savings accounts can earn you more than 13x the national average savings account rate. Click here to uncover the best-in-class picks that landed a spot on our shortlist of the best savings accounts for 2023.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Bank of America is an advertising partner of The Ascent, a Motley Fool company. Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bank of America. The Motley Fool has a disclosure policy.

 Read More 

Image source: Getty Images
What happenedAmerican adults lost an estimated average of $1,819 because of financial illiteracy in 2022, according to a survey by the National Financial Educators Council (NFEC). Respondents were asked how much money they think they’ve lost during the year due to a lack of personal finance knowledge. The available choices and results were:$0 to $499: 61.80%$500 to $999: 7.23%$1,000 to $2,499: 7.96%$2,500 to $9,999: 7.98%$10,000 or more: 15.04%The estimated average of $1,819 is the highest in the six years that the NFEC has conducted the survey. Applied to the 254 million adults in the United States, it would indicate that financial illiteracy costs Americans more than $436 billion annually. “Financial illiteracy is an epidemic in the U.S., and it’s coming at a time when the economic climate is changing rapidly,” said Vince Shorb, CEO of the NFEC, in the press release announcing the survey results.So whatIt’s understandable why so many adults have gaps in their financial knowledge. Lots of important subjects, such as banking and credit cards, normally aren’t taught in schools. Unless you have someone to explain them to you, or you seek out this information on your own, there could be areas where a lack of knowledge leads to financial mistakes.Based on the survey results, financial illiteracy doesn’t affect everyone equally. The good news is that the majority (61.80%) of Americans estimate they lost less than $500 due to financial illiteracy. However, others were hit much harder, especially the 15.04% who estimated they lost $10,000 or more.Now whatIf you’d like to improve your financial literacy, a good place to start is The Ascent’s personal finance guides and advice. These cover a range of important topics, from things that beginners should know to more advanced information, including:What is a savings account?How do brokerage accounts work?How to pay off debtYou may want to focus on one specific area, like any knowledge gaps you have. For example, credit card interest and fees are one of the biggest issues for Americans, with an estimated annual cost of $120 billion. If you don’t know much about credit cards, it makes sense to learn about how credit cards work so that you can use them to your advantage and avoid paying fees.Most importantly, know that anyone can become financially literate. It’s not too complicated to learn how to manage money and even how to build wealth. It’s just a matter of finding quality resources and spending a little time learning from them.Alert: highest cash back card we’ve seen now has 0% intro APR until 2024If you’re using the wrong credit or debit card, it could be costing you serious money. Our expert loves this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee. In fact, this card is so good that our expert even uses it personally. Click here to read our full review for free and apply in just 2 minutes. Read our free reviewWe’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy. 

What happened

American adults lost an estimated average of $1,819 because of financial illiteracy in 2022, according to a survey by the National Financial Educators Council (NFEC). Respondents were asked how much money they think they’ve lost during the year due to a lack of personal finance knowledge. The available choices and results were:

$0 to $499: 61.80%$500 to $999: 7.23%$1,000 to $2,499: 7.96%$2,500 to $9,999: 7.98%$10,000 or more: 15.04%

The estimated average of $1,819 is the highest in the six years that the NFEC has conducted the survey. Applied to the 254 million adults in the United States, it would indicate that financial illiteracy costs Americans more than $436 billion annually.

“Financial illiteracy is an epidemic in the U.S., and it’s coming at a time when the economic climate is changing rapidly,” said Vince Shorb, CEO of the NFEC, in the press release announcing the survey results.

So what

It’s understandable why so many adults have gaps in their financial knowledge. Lots of important subjects, such as banking and credit cards, normally aren’t taught in schools. Unless you have someone to explain them to you, or you seek out this information on your own, there could be areas where a lack of knowledge leads to financial mistakes.

Based on the survey results, financial illiteracy doesn’t affect everyone equally. The good news is that the majority (61.80%) of Americans estimate they lost less than $500 due to financial illiteracy. However, others were hit much harder, especially the 15.04% who estimated they lost $10,000 or more.

Now what

If you’d like to improve your financial literacy, a good place to start is The Ascent’s personal finance guides and advice. These cover a range of important topics, from things that beginners should know to more advanced information, including:

What is a savings account?How do brokerage accounts work?How to pay off debt

You may want to focus on one specific area, like any knowledge gaps you have. For example, credit card interest and fees are one of the biggest issues for Americans, with an estimated annual cost of $120 billion. If you don’t know much about credit cards, it makes sense to learn about how credit cards work so that you can use them to your advantage and avoid paying fees.

Most importantly, know that anyone can become financially literate. It’s not too complicated to learn how to manage money and even how to build wealth. It’s just a matter of finding quality resources and spending a little time learning from them.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2024

If you’re using the wrong credit or debit card, it could be costing you serious money. Our expert loves this top pick, which features a 0% intro APR until 2024, an insane cash back rate of up to 5%, and all somehow for no annual fee.

In fact, this card is so good that our expert even uses it personally. Click here to read our full review for free and apply in just 2 minutes.

Read our free review

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

 Read More 

It’s an important move worth making. 

Your credit report is one of those things you probably don’t think to check regularly. Sure, you might give yours a read before you’re about to apply for a large loan, like a mortgage. But otherwise, it’s easy to see why checking your credit report is a task that might easily fall by the wayside.

It shouldn’t, though. Checking your credit report regularly is an important financial move, and right now, you can access a free copy of your credit report on a weekly basis. You can get it at AnnualCreditReport.com.

That may not always be the case, though. Free weekly credit reporting was a benefit made available to consumers during the pandemic, when instances of fraud increased in the wake of stimulus policies and other emergency aid provisions criminals tried to capitalize on.

In fact, 2023 could be the last year of free weekly credit reports. But even once free weekly reports go away, consumers can still access a free credit report copy once a year from each of the three major credit reporting bureaus — Experian, TransUnion, and Equifax. And here’s why checking your credit report is so essential.

1. You’ll get a snapshot of your borrowing history

Your credit report lists your open credit accounts, from installment loans (like auto and personal loans) to credit cards. Your credit report also shows you your payment history and other important financial details. This is all good information to have, because even if you’re not planning to borrow money anytime soon, you should still know what your financial picture and borrowing history look like.

2. You may be inspired to make positive changes

Your credit report might push you to make changes to the way you borrow that benefit you financially. One thing your credit report should tell you is how much of your available credit you’re using at once. If you see that that number is high, it might inspire you to get on a budget and find ways to spend less and pay off your existing debt,

3. You might get an early fraud warning

Your credit report should list every open credit account in your name. And so if you see an open account you don’t recognize, you’ll know to investigate — and potentially spare yourself a hassle.

For example, let’s say you notice a credit card on your report that doesn’t look familiar to you. You may be able to alert the issuer to the fact that it’s fraudulent before a criminal racks up charges against it — and potentially damages your credit score in the process.

Although checking your credit report may not be part of your existing financial routine, it’s an important thing to do nonetheless. And remember, you don’t actually have to review your credit report on a weekly basis, so don’t panic if free weekly credit reports go away once 2023 wraps up. As long as you make a point to check yours every few months, you’ll be doing your part to keep tabs on your finances and put yourself in a strong position to borrow when you need to.

Top credit card wipes out interest until 2024

If you have credit card debt, transferring it to this top balance transfer card secures you a 0% intro APR for up to 21 months! Plus, you’ll pay no annual fee. Those are just a few reasons why our experts rate this card as a top pick to help get control of your debt. Read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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