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Sherry Tingley

About Sherry Tingley

Sherry is the founder of One Click LLC, a company she established in 2007 to support her ongoing mission of building wealth and financial security for her family. Through disciplined financial management, she has successfully traveled abroad to Israel and Jordan, purchased both a home and a rental property, and focused on eliminating debt—aside from her real estate investments.

Recognized by Mint.com and Intuit.com for excellence in personal finance blog content, Sherry is passionate about sharing financial strategies that help others achieve financial independence. A firm believer in Dave Ramsey’s financial principles, she follows his guidance through YouTube content and books, applying his strategies to save diligently and manage money wisely.

Her journey is a testament to the power of financial literacy, and she hopes to inspire and assist others in reaching their own financial goals through smart money management and debt-free living.

Managing Personal Finances With A Simple 50/30/20 Rule

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Managing personal finances can be challenging and heartbreaking, however using one simple and effective budgeting method, the 50/30/20 rule. This rule helps individuals allocate their income efficiently, ensuring they cover necessities, enjoy some discretionary spending, and save for the future.

The 50/30/20 Rule Offers A Life Long Money Management Plan

Managing Money with the 50-30-20 rule will help you establish life long goals.

50% for Needs: This portion covers essential expenses that are necessary for living, such as:

  • Rent or mortgage payments
  • Utilities (electricity, water, internet)
  • Groceries
  • Insurance (health, car, home, etc.)
  • Minimum debt payments (student loans, credit cards, etc.)
  • Transportation costs (car payments, gas, public transit)

30% for Wants: This category is for non-essential but enjoyable expenses, such as:

  • Dining out and entertainment
  • Subscriptions (streaming services, magazines, etc.)
  • Hobbies and leisure activities
  • Travel and vacations
  • Upgraded gadgets or accessories

20% for Savings and Debt Repayment: This portion is dedicated to securing financial stability and planning for the future:

  • Emergency fund contributions
  • Retirement savings (401(k), IRA, or other plans)
  • Additional debt payments beyond the minimum
  • Investments (stocks, bonds, real estate, etc.)

Personal Finance Budgeting

  1. Simple and Easy to Follow: Unlike complex budgeting methods, this rule is straightforward, making it accessible to beginners.
  2. Encourages Responsible Spending: It ensures essential needs are met first before discretionary spending occurs.
  3. Promotes Savings and Financial Security: By allocating 20% toward savings and debt repayment, individuals build a financial cushion for emergencies and future goals.
  4. Flexible Yet Structured: The rule provides a guideline while allowing flexibility to adjust spending within categories.
  5. Reduces Financial Stress: Having a clear financial plan reduces uncertainty and helps individuals stay in control of their money.

Tips To Personal Finance Success

  • Track expenses for a month to understand current spending habits.
  • Adjust budget categories based on personal financial goals.
  • Automate savings contributions to ensure consistency.
  • Reassess and adjust as needed for changes in income or expenses.

By following the 50/30/20 rule, individuals can develop healthier financial habits, avoid unnecessary debt, and work toward long-term financial success. Whether you are new to budgeting or looking for a simpler way to manage your income, this method provides a reliable foundation for financial stability and growth.

Helpful Reading About Money Management Plans

The 50/30/20 Budget Rule Explained With Examples
August 21, 2024 — The 50/30/20 budget rule is a simple and effective plan for personal money management and wealth creation. It balances paying for necessities with saving and investing.A reputable source that delves deeper into the 50/30/20 budgeting rule is Investopedia’s article, This resource provides detailed insights and practical examples to help readers understand and implement this budgeting method effectively

Americans Are Spending Beyond Their Means.
October 10, 2024 — What Is the 50-30-20 Rule? This budgeting rule suggests that working adults allocate 50% of their income to needs, 30% to wants, and 20% to save for retirement and other goals.

What Is The 50/30/20 Rule?
This article from Forbes Advisor provides an in-depth explanation of the 50/30/20 budgeting rule, including its benefits and potential drawbacks.This resource should offer valuable insights into applying the 50/30/20 rule to your personal finances.

Personal Financial Inspirational Message

Focusing on long-term financial goals isn’t just about money—it’s about freedom, security, and building the life you truly want. Imagine waking up one day without worrying about debt, knowing your savings can handle any emergency, and having the resources to enjoy life on your terms. Every dollar you save and invest today is a step toward that future. Stay patient, stay consistent, and trust the process. The sacrifices you make now—spending wisely, budgeting smartly—will pay off in ways you never imagined. Your future self will thank you for every smart decision you make today. Start now—your dreams are worth it!

Internet Romance Scams: How To Avoid Losing Money

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Internet Scammers Create False Identities

Internet romance scams are a form of online fraud where criminals create fake identities online to win the trust and affection of their victims. These scammers often use social media or dating platforms to connect, quickly building a false sense of intimacy and trust. Their ultimate goal is to manipulate victims emotionally and financially.

Internet Romance Scams cause significant loss of money.

Romance Scammers Want You Trust Them Instantly

Typically, scammers will push for a relationship to progress rapidly, often declaring love or proposing marriage. They might even promise to meet in person, but that meeting will never materialize. Instead, they’ll eventually ask for money, often citing emergencies like medical bills or legal fees.

Perpetrator’s Work History Is Usually In Another Country

A common tactic is claiming to work in the building or construction industry on projects abroad. This narrative helps explain their inability to meet and provides a convenient excuse for their financial requests. These individuals are skilled at seeming genuine, caring, and trustworthy, making their deception difficult to detect.

Successfully Get Confidential Details From Victims

Another red flag is when someone you’ve met online asks for your bank account details, claiming it’s to deposit money. In reality, they may use your account for illegal activities, putting you at risk of financial and legal trouble.

Regrettably, Financial Information Is Given Too Freely

To protect yourself, stay cautious when forming online relationships. Avoid sharing personal or financial information with anyone you haven’t met in person, and remain skeptical of requests for money, no matter how convincing the story may seem. Recognizing the warning signs of romance scams can help safeguard your heart and your wallet.

Resources To Catch Cocky Romance Scammers

The best place to report any romance scam online is to go to https://www.ic3.gov/. Forms can be filled out and sent to the appropriate departments. Although some say that your money is just gone, you can hope for a silverlining by reporting to the FBI. Should you have any cyber crimes to report, that remains the number 1 place for reporting online crimes.

Extended Reading

CNBC helps readers learn how to check the validity of scammers by doing a reverse image search and alerting the to recognize the tactics that fraudsters use.

Senior Scam Prevention: Tips for Protecting Your Finances

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Caution elders to protect their finances from scammers.

Seniors need to be aware of scam prevention. They are often scammers’ favorite targets. Financial stability and seniors trusting nature make them vulnerable victims. According to the Federal Trade Commission (FTC), seniors lose an estimated $3 billion annually to scammers, with nearly 1 in 10 seniors in the United States falling victim to some form of financial fraud.

Never Share Personal or Financial Information

Seniors should be reminded to never share personal or financial information over the phone or online unless they are certain of the recipient’s identity. Installing call-blocking apps and filtering email spam can also help reduce exposure to potential scammers.

Local Community Classes Teach Seniors How to Avoid Scams

Organizations such as the AARP and local community centers offer workshops and resources designed to educate seniors on recognizing and avoiding scams. Furthermore, reporting scams is crucial in combating this growing issue. Victims or their families should report incidents to the FTC or local law enforcement to help track fraudulent activities and prevent others from being targeted. By staying informed and vigilant, seniors and their loved ones can take proactive steps to protect their financial security and enjoy peace of mind.

As technology advances, phone and email scams have become increasingly sophisticated, targeting vulnerable populations such as seniors. The FTC reports that seniors lose an estimated $3 billion annually to scammers.

Scammers are able to influence 1 in 10 seniors in the United States falling victim to some form of financial fraud. This alarming statistic underscores the importance of raising awareness and providing resources to protect older adults from such schemes.

One of the most common scams targeting seniors involves impersonation fraud, where scammers pose as government officials, tech support representatives, or even family members in distress. They use fear tactics to pressure seniors into sending money or providing sensitive information. Another prevalent scam involves fraudulent investment opportunities that promise high returns but ultimately leave victims with significant financial losses.

Education and community support play vital roles in preventing senior fraud. Families should regularly discuss financial safety with their elderly relatives and encourage them to verify the legitimacy of any unexpected requests for money or personal details. Banks and credit unions also offer fraud protection services, which seniors should consider using to add an extra layer of security.

By fostering a culture of awareness and caution, society can help protect seniors from becoming victims of fraud. Through education, technology safeguards, and community vigilance, seniors can maintain their financial independence while avoiding the pitfalls of scams.

Protect Your Beloved Seniors From Financial Abuse

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How Monitoring Financial Transactions Can Help Seniors

Monitoring your financial transactions plays a crucial role in preventing senior financial abuse. When you keep a close eye on your accounts, you can quickly spot any unusual activity and take action before it causes significant harm. In this article, we explore the importance of transaction monitoring, the tools you can use, and how trusted individuals can help safeguard your finances.

The Role of Monitoring: Regularly monitoring your financial transactions allows you to spot irregularities or unauthorized activities early. Whether it’s an unfamiliar charge on your credit card or an unexpected withdrawal from your bank account, being proactive can help you avoid potential exploitation.

Financial Tools & Resources For Seniors

There are several tools and resources available to help you monitor your financial transactions effectively:

  1. Financial Transaction Alerts:
    • Most banks and credit card companies offer transaction alerts that notify you via email or text message whenever a purchase or withdrawal is made. These alerts can be customized to inform you of specific types of transactions, such as those over a certain amount.
  2. Automatic Bill Pay Systems:
    • Setting up automatic bill payments can help ensure that your bills are paid on time without the need for manual intervention. This can reduce the risk of someone else accessing your accounts to pay your bills and prevent missed payments.
  3. Account Aggregation Services:
    • Account aggregation services allow you to view all your financial accounts in one place, making it easier to monitor your overall financial picture. These services often include tools for tracking spending and spotting unusual activity.
  4. Check Bank Statements:
    • Regularly reviewing your bank and credit card statements is essential. Look for any transactions that you don’t recognize and follow up with your financial institution immediately if something seems off.

Asking For Help From a Trusted 3rd Party

If you find it challenging to monitor your finances on your own, involving a trusted individual can provide an extra layer of protection. Here’s how to involve someone without giving them full control over your finances:

  1. Transaction Alerts to a Third Party:
    • Some financial institutions allow you to set up transaction alerts that are sent to a trusted third party, such as a family member or friend. This person can help you monitor your accounts and alert you to any suspicious activity.
  2. Dual Control Over Accounts:
    • In some cases, you may want to establish dual control over your accounts. This means that two signatures or authorizations are required for significant transactions, reducing the risk of unauthorized spending.
  3. Second Copy of Statements:
    • If you have trouble reading your statements, ask your financial institution to send a second copy to someone you trust. This person does not need authority to act on your behalf but can help you review the statements for accuracy.

Preventative Measures For Your Financial Accounts

While monitoring is essential, it’s also important to take proactive steps to protect your finances:

  • Do Not Share Your PIN or Passwords:
    • Keep your personal identification numbers (PINs) and online banking passwords private. Do not share them with anyone, even caregivers or close family members, unless absolutely necessary.
  • Be Cautious with Joint Accounts:
    • If you have a joint account with someone, be aware that they have equal access to your funds. Ensure that you fully trust the person before opening a joint account.
  • Review Your Credit Reports:
    • Regularly review your credit reports for any accounts or loans that you did not authorize. You can obtain free credit reports from annualcreditreport.com.

Conclusion: Monitoring your financial transactions is a powerful way to protect yourself from exploitation. By utilizing available tools, involving a trusted person, and staying vigilant, you can ensure that your finances remain secure. Remember, prevention is key, and regular monitoring can help you catch issues before they escalate.

Remember to save money on your personal checks. When you order checks with free shipping and handling at Valuechecks.net, you will save on shipping and handling fees. We recommend some of the best checks that are well designed and low in prices.

This article is part of a series about protecting seniors from financial abuse

Article 1 – Monitoring Financial Transactions
Article 2 – Are Your Parents Protected From Financial Abuse?

Monitoring Financial Transactions Can Alert You To Problems

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Detect Any Unusual Activities In Your Financial Transactions

In 2023, the FTC received over 5.39 million reports, with 48% of them being for fraud and 19% for identity theft.

Monitoring your financial transactions serves as a key strategy to prevent elder financial exploitation. When you closely monitor your accounts, you can quickly spot any unusual activity and act before significant harm occurs. In this article, we explore the importance of transaction monitoring, the tools you can use, and how trusted individuals help safeguard your finances.

The Role of Monitoring: When you regularly monitor your financial transactions, you can spot irregularities or unauthorized activities early. Whether you notice an unfamiliar charge on your credit card or an unexpected withdrawal from your bank account, taking proactive steps helps you avoid potential exploitation.

Tools and Resources To Monitor Financial Transactions

There are several tools and resources available to help you monitor your financial transactions effectively:

  1. Transaction Alerts:
    • Most banks and credit card companies offer transaction alerts that notify you via email or text message whenever a purchase or withdrawal is made. These alerts can be customized to inform you of specific types of transactions, such as those over a certain amount.
  2. Automatic Bill Pay Systems:
    • Setting up automatic bill payments can help ensure that your bills are paid on time without the need for manual intervention. This can reduce the risk of someone else accessing your accounts to pay your bills and prevent missed payments.
  3. Account Aggregation Services:
    • Account aggregation services allow you to view all your financial accounts in one place, making it easier to monitor your overall financial picture. These services often include tools for tracking spending and spotting unusual activity.
  4. Bank Statements:
    • Regularly reviewing your bank and credit card statements is essential. Look for any transactions that you don’t recognize and follow up with your financial institution immediately if something seems off.

Involving a Trusted Person: Involving a Trusted Person: If you find it difficult to monitor your finances alone, you can involve a trusted individual to add an extra layer of protection. Here’s how you can involve someone without giving them full control over your finances:

  1. Transaction Alerts to a Third Party:
    • Some financial institutions allow you to set up transaction alerts that are sent to a trusted third party, such as a family member or friend. This person can help you monitor your accounts and alert you to any suspicious activity.
  2. Dual Control Over Accounts:
    • In some cases, you may want to establish dual control over your accounts. This means that two signatures or authorizations are required for significant transactions, reducing the risk of unauthorized spending.
  3. Second Copy of Statements:
    • If you have trouble reading your statements, ask your financial institution to send a second copy to someone you trust. This person does not need authority to act on your behalf but can help you review the statements for accuracy.

Financial Security Means You Use These Preventative Measures

While monitoring is essential, it’s also important to take proactive steps to protect your finances:

  • Do Not Share Your PIN or Passwords:
    • Keep your personal identification numbers (PINs) and online banking passwords private. Do not share them with anyone, even caregivers or close family members, unless absolutely necessary.
  • Be Cautious with Joint Accounts:
    • If you have a joint account with someone, be aware that they have equal access to your funds. Ensure that you fully trust the person before opening a joint account.
  • Review Your Credit Reports:
    • Regularly review your credit reports for any accounts or loans that you did not authorize. You can obtain free credit reports from annualcreditreport.com.

Conclusion: Monitoring your financial transactions is a powerful way to protect yourself from exploitation. By utilizing available tools, involving a trusted person, and staying vigilant, you can ensure that your finances remain secure. Remember, prevention is key, and regular monitoring can help you catch issues before they escalate.

Recommended: Order cheap checks to save money on your checking account fees.

This article is part of a series that will help you protect your loved ones from identity theft, problems in your checking account and more. Here are links to the other articles.

Article #1 – Are Your Parents Protected From Financial Abuse?

Article #3 – Protect Your Beloved Seniors From Financial Abuse