This week, we travel to Racine County. Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know? If so, have check out www.wismissingmoney.com and search their name to make a claim. They can also call 855-375-CASH (2274)
Gail M Lloyd
Ganton Technologies Incorporated
Thanksgiving is coming up fast, and for many of us, that means we’re in for some serious family time. But everything can’t be fuzzies and pie. A trip down memory lane can remind us of our family’s money baggage. FEAST ON THIS…. Our friends at www.Learvest.com tell us, the the money lessons you first learned at home tend to follow us through life.
“We learn from our parents,” explains Jonathan Alpert, psychotherapist and author of “Be Fearless.” “Money is an important part of our upbringing. We model our parents’ behavior and it becomes ingrained in us. It’s difficult to break out of that.”
Money Toxic Behavior #1: Living in Denial
What Causes It: “This is classic avoidance,” Alpert says. “It’s the mind’s way of avoiding that which it anticipates will be uncomfortable or anxiety-provoking.”
How to Shake It: Get motivated by the outcome rather than the process, says Alpert: “Think how you’ll feel once you clear the bills off the table,” he says.
Money Toxic Behavior #2: Embracing Debt
What Causes It: “Living paycheck to paycheck and surviving has become the norm over the past few years,” Alpert says. “People are feeling defeated, unable to see the future and stuck in a perpetual cycle of work and paying the bills.”
How to Shake It: Before getting ahead of your finances, you need to start catching up. Start putting as much as you can afford (even if it’s only $10 each week) away to pay off any bad debt like credit cards and car or consumer loans, and start shoring up an emergency fund. When you’re debt free and have a little financial cushion, then it might be time to turn your attention to investing. Think $10 investments aren’t enough? Think again–just ask this woman, who turned $10 stocks into $60,000. It might take some time to get ahead of your money, but the most important thing is that you start right away.
Money Toxic Behavior #3: Throwing Budgeting to the Wind
What Causes It: ”A lot of people use buying as a way to provide comfort in the same way that people might overeat–as a way to feel fulfilled,” says Alpert. They buy lavish and luxury items they don’t need to make them feel complete or special.”
How to Shake It: We don’t need to explain that money doesn’t just “appear,” but seeing where all your dough goes is also one of the best ways to avoid mindless spending. By consistently tracking your earnings and expenditures in the free LearnVest Money Center, you’ll get a sense of how much you really have to spend on what.
Money Toxic Behavior #4: Leasing Instead of Buying
“Maybe it’s a growing up in Detroit thing, but everyone in my family has always leased a brand-new, very cool car for a few years, then traded it back in for another. They’d never settle for wheels that were less than snazzy.”
What Causes It: “For a lot of people, the appeal of leasing is the convenience,” Alpert explains. “Decisions are made for them. The price and time frame are set, the mileage is limited. People like order and control, and they feel like this provides it.”
How to Shake It: He points out that the hardest adjustment for someone who inherited this practice might not be the age of the car, but making the distinction that a car is a method of transportation from point A to point B, not a representation of who you are. “Don’t let a car define you,” he advises.
Money Toxic Behavior #5: Resenting the Joneses
What Causes It: “Social comparisons are normal and her mom was right that it ‘must be nice’ to be able to buy a new home and take vacations,” Alpert tells us. “Her statement though, suggests a hint of jealousy and/or anger.” Though these emotions might motivate someone in the short term to make changes, he explains, they’re ultimately draining, not a good motivator like setting your own goals to pursue because you truly want to achieve them.
How to Shake It: “Keeping up with the Joneses will only allow you to be as happy as the Jonseses,” Alpert cautions. Money comparisonitis is the real, toxic behavior of constantly comparing yourself to those around you, and the first step to getting past it is forgiving yourself: It’s totally normal. In fact, a study of data collected since 1970 shows that we base our self-esteem more on the money we make compared to others, or our relative financial status, than on our actual financial picture. If you’re concerned that you might have money comparisonitis, take our quiz to find out.
Money Toxic Behavior #6: Wanting What You Want Now
What Causes It: Not everyone sees the value—or the joy—in seeking out the best deal. “For some people, there is great satisfaction in knowing they got the absolute best price on a product, and that outweighs any amount of ‘wasted’ time and energy. For others, it just doesn’t feel worth it,” says Alpert, who explains that they may feel more uplifted by the temporary thrill of immediate gratification.
How to Shake It: Nobody’s saying you have to be an extreme couponer if that doesn’t appeal to you. Splurging—in the right way—can actually be good for your finances. But depending on your financial situation, and your budget, you need to know when it’s OK to treat yourself and when you’re just throwing money away that you could be able to save. One good way is to enroll in our free Take Control bootcamp, which will teach you how to set boundaries—and long-term financial goals—for yourself.
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The entire month of October, we are committed to Technology Saving Tips! This week, to upgrade or not to upgrade.
Sometimes we upgrade our technology because it’s stopped working; too often it is to have the latest gadget. Stop upgrading so often to save some money. Compare what you have with what you need and make sure you’re not just buying the label. Search for tips online for how to rejuvenate your old equipment by restoring factory settings or cleaning the hard drive. This might be just the new gift to yourself you’ve been looking for!
The entire month of September, we are committed to GETTING YOU GAS FOR LESS! This week, it’s all about HOW you pay for it.
When you purchase gas this month, the right form of payment may make all the difference! Several credit cards are offering great rebates, but most are only good through the end of September. Chase Freedom and Discover Card are both offering 5% cash back while deals beyond September include American Express’ Blue Cash Preferred and Bank Americard that offer 3%. With the average gallon of gas in Wisconsin up to $3.48, every penny counts! Just remember… if you don’t normally purchase gas on credit, be sure to set aside the cash each week for the bill at the end of the month – it doesn’t become fun money!
Employer Provided Benefits
Whether you’ve just started a new job as a recent graduate or you’ve been with the same company for years, you need to make sure you’re maximizing your employee benefits. Our friends at www.practicalmoneyskills.com tell you how!
Most employers offer a host of company-sponsored benefits. Often, the combined value of these coverages is worth a third or more of your base pay. That’s too much money to leave on the table. And some employee benefits have valuable tax advantages you can’t afford to ignore.
If your employer provides a 401(k) plan or Health Care and Dependent Care Flexible Spending Accounts (FSAs) and you’re not participating, you could be missing out on hundreds – or thousands – of dollars in tax savings each year. That’s money that goes right into your pocket instead of Uncle Sam’s.
Here you’ll find the ins and outs of employee benefits and everything you need to maximize your job and all it has to offer.
Some of the Numbers have changed as the Unclaimed Property Program is now being adminstered by the Department of Revenue. The Office of the State Treasurer is still responsible for promoting the program and is happy to answer any questions we can for you. However, at the request of the Department of Revenue, direct lines to claims processors were removed from our website and they asks you to call and general line. That number is:
Welcome to Wisconsin Saves
Wisconsin Saves is a statewide initiative devoted to promoting financial awareness and encouraging financial action among people of all economic levels. The Wisconsin State Treasurer proudly teamed up with The Wisconsin Women’s Business Initiative Corporation to bring you a weekly saving tip through this blog site. We thought it might be a nice reminder to you on how to sign up to be a “Wisconsin Saver.” Through resources and access to diverse products, Wisconsin Saves believes that anyone can build wealth by developing positive spending and saving habits. So don’t wait any longer… enroll in Wisconsin Saves today!