Thurow Financial

Thurow Financial Follow

Owner @ericthurow will help you organize, plan, and execute your debt free journey with support to reach your financial freedom.

http://ThurowFinancial.com/

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Today we move 1 step closer to building wealth and be able to give. 
Step 6: Pay off your mortgage. 
Reaching this point in your debt free journey is a major accomplishment in itself. Focusing on no other financial liabilities besides your mortgage may feel fantastic and instills a true financial peace. 
#financialfreedom | #financialpeace | #debtfree | #debtfreejourney | #wealthbuilding | #wealth | #retirement | #giving
Last week I covered the steps to take to begin building your wealth towards financial peace. Here’s a quick review and then I’ll go over Step 5. 
Step 1: Establish your Emergency Fund with with $500/$1,000 depending on your annual income. - ✅

Step 2: Pay off all of your debt, except for the mortgage, from smallest to highest. - ✅

Step 3: Finish building your Emergency Fund to at least 10 months of your monthly expenses. - ✅

Step 4: Invest 15% of your income in either a Roth IRA or some Pre-Tax Investment. - ✅

Today is the next step. 
Step 5: Begin investing in your child’s future by establishing a 529 Savings Plan also known as a Educational Savings Account. 
A 529 plan is a tax-advantaged savings designed to encourage saving for the future educational costs of attending college. 529 Plan is legally known as “Qualified Tuition Plans” and are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code.

#debtfreejourney | #lifestylechange | #financialfreedom | #financialpeace | #investinyourfuture | #debtfree | #retirement
Continuing the debt free journey and the progress in building true wealth, here’s the next step. 
Step 4: Invest 15% of your income into a Roth IRA or Pre-Tax Investment Plan. 
#debtfreejourney | #retirementsavings | #financialpeace | #financialfreedom
Step 3:  To be completed after step 2 is 100% paid off and you’re debt free besides the mortgage; RESUME BUILDING YOUR EMERGENCY FUND.

That’s right. Once you have completely paid off all of the bills in step 2, it is now time to build your full emergency fund. Begin by taking your normal monthly expenses from a 31-day month and then multiply that amount by 10. You should have at least 10 months of expenses saved for your emergency fund. 
Remember that an emergency fund is for EMERGENCIES ONLY. It is not for dining, vacations, or any other new items to purchase. If you are serious with this, you will benefit knowing you took to the steps necessary to add peace of mind Insurance. 
#emergencyfund | #debtfreejourney | #financialfreedom | #financialpeace | #stressfree | #wealthbuilding | #happiness
Yesterday I told you step 1 in your start to becoming debt free. That’s set up your EFA, Emergency Fund Account, with either $500 or $1,000.  After you have established your initial saving of the amount above into your EFA, let’s move to Step 2.

Step 2 is gather ALL (but the mortgage) of your most recent bills. Oh yeah, don’t forget to SHRED YOUR CREDIT CARDS after you have called each of the banks they belong to and cancelled your account.  If you have to go online and print them out, do so. Once you have ALL of your bills in front of you, arrange them from the lowest balance owing to the highest balance owing. 
Take the bills that are the highest amount owing and set them aside. As to maintain being current, all you are going to do with them is pay the minimum amount due that they are asking. 
For the bill that is the lowest amount owing, you are going to attack this one and pay it off as fast as you can. 
Once you have it paid off, take the dollar amount of the payments being made on the lowest bill and add it to the minimum payment of the second lowest bill and attack that one. Continue this process with all the other bills, if applicable. 
#debtfreejourney | #lifestylechange | #determination | #patience | #financialgoals
‪Here’s the first step in your debt free journey:‬ ‪1. Establish your #emergencyfund. ‬
‪
While you continue to pay the minimum amount on your debt to stay current, save either $500 or $1,000 in a liquid money market account. 
If you make less than $25,000 per year save $500.
If you make more than $25,000 per year, save $1,000. ‬
‪The year is fast approaching the end, which makes it the perfect time to request your Free Annual Credit Reports from ALL 4 credit reporting agencies; plus your Consumer Files from the two consumer agencies. 
Credit Agencies:
1. Equifax
2. Experian
3. Innovis
4. TransUnion

Consumer Agencies:
1. ChexSystems
2. Early Warning Consumer Services ‪Visit https://annualcreditreport.com to order from Equifax, Experian, and TransUnion.  If online ordering doesn’t work, you can call 877.322.8228 follow all of the prompts accurately. When being asked for the agency from which you want your report; say Experian, Equifax & TransUnion‬. Saying clearly all three names will get you your credit report from all three companies dealing with the AnnualCreditReport web site. Once you’ve submitted your request, you should get your reports within 15 business days. Equifax and Experian are both located in Atlanta, GA.  TransUnion is located in Chester, PA. 
For your credit report from Innovis, visit https://innovis.com and fill out your correct information online. You’ll receive a e-mail confirmation upon submitting your request. You’ll receive your report within 7-10 business days.  Innovis is located in Pittsburgh, PA. 
For your Consumer Files, take the following steps:

1. ChexSystems - visit https://ChexSystems.com
Now Chex Systems deals with credit unions (NCUA). Even if you do not have an account nor have ever had an account at a credit union, it’s still good to get your consumer file to ensure of your identity security situation. Once online fill out the form completely as requested. Once you click submit, be sure to either print or write out your confirmation ID number. You should receive your consumer file within 5 business days.  ChexSystems is located in Woodbury, MN. 
2. Early Warning Consumer Services - https://earlywarning.com
Early Warning deals with regular banking institutions (FDIC). If by chance you’ve never done your banking at one of these businesses, you’d still want to request your consumer file for the same reason as mentioned above with ChexSystems. Once you’re online, you’ll need to print a PDF form and fill it out on your computer, print it out, and s
@tmobile Cyber Breach Exposes Data of Nearly 2 Million Customers

On August 23rd, T-Mobile releases information that stated that they had a data breach in attackers out of the U.S.A. gained access to “certain information”. Approximately 3%, or 2 million customer were said to be affected. A company spokesperson said that it caught and shut down the attack almost immediately. 
The financial data including; social security numbers and passwords remained safe. Affected was names, billing zip code, email address, account number, & account type (pre-paid or post-paid). Exposed customers will be notified via a text message from T-Mobile. 
#financialsecurity | #identitytheftprotection | #debtfreejourney
@macys recently discovered a data breach. On July 11th, a cyber threat was discovered that had been targeting an undetermined number of Macys.com & Bloomingdales.com customer profiles for two months.  Those customers whose profiles were accessed by the third party have been notified via email.

The exposed data included: customers' profiles, including names, addresses, dates of birth, phone numbers, email addresses and debit/credit card numbers with expiration dates.

Macy's does not store Social Security numbers or the CVV number that appears on the backs of credit cards.

The best type of protection, is to not have credit card nor store cards first and foremost. Another and most important protection, whether you have credit/charge cards or not, is identity theft protection. @zanderinsurance is a great company who provides excellent protection at a affordable annual rate that does not break your budget.
I just received this. It’s up next on the book to read list. “Work your Wealth” by @marybstorj
Here’s a quick video on how to keep your mobile web browsing safe on top of having the previously mentioned mobile VPN service. As you may surf the Internet on your carrier’s data or just forget to activate the VPN protection prior to using the Internet. 
This tip will add to the security of your mobile device. As you’ll see, I did this on a Apple iPhone.

#identitytheftprotection #idtheftprotection #internetsafety #internetsecurity #mobilesecurity
There has been yet another data breach. This time it was at @myheritage_official, a DNA testing service and family web site. They had discovered a breach that affects 92 million users that actually took place back in October of 2017. They did not discover it until this past Monday, June 4th. 
The full extent of the breach is unknown but they believe it was only the users e-mail addresses and hashed passwords affected. 
Yet, another very important reason to protect yourself with identity theft. We not only suggest, but use ourselves, a great ID Theft Protection Service by @zanderinsurance. 
Keep an eye out on our web site for a new article detailing security data breaches and steps to take to protect yourself.