MoneyWisdom Blog

Feb. 29, 2020 might be the a perfect jumping off point to a more solid financial future.

Congratulations, you might soon be about $3,000 richer. The average American will receive nearly that amount —$2,725, to be exact — in their tax return. Of course, that’s not really a gift; it’s money that you overpaid in taxes through the year. But hey, you got it back and now the pressing question becomes: What should you do with it?

Like many Americans, you could spend it on a fancy vacation or the latest hot electronic toy. Or better yet, buck trends and stick the money in savings or pay off a high-interest credit card. But if you have plenty in savings and your credit card debt is under control, you could make an investment in your home.

Last year the unthinkable happened to thousands of employees in small businesses across the country, including some in western Massachusetts. Early in September they woke up to find that not only had their most recent direct deposits, some of which had already been used to pay rent and bills, been withdrawn from their bank accounts, but some employees lost multiple paychecks, resulting in severely overdrawn accounts.

Perhaps you’ve heard the call of coyotes from that den you don’t go into anymore, or you’ve seen tumbleweeds congregating in that extra, extra bedroom. Or maybe you’ve just looked at your electric bill lately. No matter your reasoning, if you are a homeowner who feels like you have more space than you really need, you’ve probably considered downsizing into a smaller dwelling at some point. Here are questions to ask yourself when you are considering the change:

You may not be aware of this, but if you're using your name or email addresses as login IDs for your financial accounts, you could be putting yourself at risk for fraud. That's because chances are good your name, email addresses, and other identifying information are out on the Dark Web, thanks to the numerous data breaches in past years. All a wily criminal has to do is mine this data for personally identifying information, then start hacking sites until they hit gold.

Don't make it easy for these scoundrels: make your login IDs unique and complex to baffle anyone other than yourself.

While we can't tell you how to change your login IDs with other institutions, here's how to change yours easily with Hanscom FCU:

Jennifer Lopez may think that “Love Don’t Cost a Thing’’ — although her designer wardrobe, lavish vacations and palatial homes might suggest otherwise — but the typical American consumer can place an exact price tag on romance.

$196.31.

That’s the figure the average buyer was expected to spend on Valentine’s Day in 2020, according to the National Retail Federation. This represents an increase of 21% from last year's record $20.7 billion in hearts-and-flowers-related spending.

I like to think that I’m tech savvy and well informed for someone not formally educated in or working in the tech space, but I recently learned about a sophisticated scamming technique that shocked me. It's called "session hijacking," and here's how it happens.

This February, when you refer a friend to Hanscom Federal Credit Union and they establish a new account with us, you'll each earn $50. Sweet!

Opening your own business can be a dream come true. Showcasing your creativity, setting your own hours, having no boss to answer to...these attractions inspire nearly half a million startups every year.

Although our situation is a little different, I know a little bit about the monthly costs involved in owning a cat. Every neighborhood has a kindhearted woman known affectionately as the crazy cat lady. You know, the person who can’t stand to see any cat homeless. Well, in my neighborhood, my wife is the crazy cat lady. What does that make me, I wonder?