Earthquake risk and Insurance in Utah

 Just a gentle reminder before you start spending and using your credit cards for the holidays. Utah is overdue for an earthquake. Homeowners insurance specifically excludes damage from earthquakes so you need to protect your biggest financial investment by buying earthquake insurance. See the Utah Division of Insurance info page on earthquake coverage: 
https://insurance.utah.gov/auto-home/home/earthquake.php

Alternative Gift Mart in Cache Valley Nov. 12

If you are tired of the holiday gift giving frenzy, it's time to visit the Alternative Gift Market  Give, in honor of a friend or relative, an alternative gift of food, medicine, livestock or education. These gifts will be sent to areas with great needs around the world and here at home. When you purchase an alternative gift,
you will receive beautiful gift cards with informational inserts describing your gift. Your gifts of peace and compassion will change the world!
These alternative gifts are life-saving gifts of hope. They empower the poorest of the poor on our planet to sustain life and to build a future for subsequent generations. When people share with their world neighbors; a more peaceful, equitable global community can flourish. This year's Cache Valley Community Market, where you can enjoy fair trade shopping, learning about the projects, lunch, a bake sale, music, and purchasing your gifts is at the Presbyterian Church, 200 West Center St., in Logan on Saturday Nov. 12, 9 am - 2 pm. If you can't fit Saturday into your schedule, visit Global Village Gifts, 69 East 100 North.
For more details see: http://www.altgifts.org/

Recommended Financial Author and Newsletter

One of my favorite resources for consumer-oriented financial and investing advice is Jonathan Clements. Check out his website: http://www.jonathanclements.com/ with his excellent books. You can sign up for a monthly newsletter: http://www.jonathanclements.com/sept-2016-newsletter

Financing an Automobile

Taking out a loan to purchase an automobile can be a significant part of consumers’ financial lives. And it is a complicated process.  The decision to obtain auto financing includes many factors, including the source of financing, features of the loan, and issues related to down payment, trade-in, and add-ons. To help consumers navigate this process and get the best loan for their situation, the CFPB has released a new set of resources called Take Control of Your Auto Loan.

1.  Take Control of Your Auto Loan website

This web page has easy-to-navigate information and tips on planning to shop for an auto loan, learning to explore loan choices, knowing what is negotiable, and understanding how to close the deal. You can access the website here.

2.  Auto Loan Worksheet

Consumers can use this worksheet to compare loan offers, see the total cost, and negotiate the best deal on an auto loan.  You can access the worksheet here.   

3.  Take Control of Your Auto Loan: A step-by-step guide

Consumers can use this printable guide to navigate the auto financing process, including budgeting considerations, understanding the auto finance process, shopping for an auto loan, negotiating and closing the deal. The guide also emphasizes how to avoid common pitfalls. As a financial educator, you can also use this guide to familiarize yourself with the auto finance process, so that you can provide helpful guidance to those you assist. You can access the guide here.

4. Consumer Voices on Automobile Financing

This report describes the findings of consumer focus groups and consumer complaint data about the challenges of navigating the auto financing process.  We found that many consumers reported they did not shop around and negotiate as much for the financing as they did for the vehicle itself.  The complaint data showed that consumers faced challenges in understanding loan features during negotiations on financing. You can learn more about these findings here.

5. Ask CFPB auto loan questions

There are updated questions and answers about auto budgeting and financing in the Ask CFPB database of consumer questions.  The Ask CFPB auto loan questions can be found here.

Financial Resources for Parents from CFPB

RESOURCES FOR PARENTS

Parents and caregivers want to put their children on a solid path to a bright financial future – but they’re not always certain about what to do and when. The CPFB has launched the new Money As You Grow Web site, where we provide a framework for how children develop financially, along with activities and conversation starters parents can use right away.  You can share these resources with your clients who are parents, or integrate them into programs you may be offering for children and youth. 

1.  Early childhood resources

In early childhood, it’s a little too soon for children to understand abstract financial concepts. Still, they are practicing skills and attitudes that will serve them well in school and in the future: planning and problem solving, staying focused, and waiting for what they want.

Parents can use resources such as the Money sort and Pretend play activities to help children learn about earning, saving, planning, and shopping.

2.  Middle childhood resources

In middle childhood, young people start to pay attention to the financial world around them. They start to absorb habits and attitudes about what’s typical and what’s popular. Peers become important – but their parents are still the most important influence on their financial world.

Parents can use resources such as Bingo on the Go to engage with their kids around financial topics.

3.  Teen and young adult resources

Teens and young adults start to earn money and make financial decisions on their own, learn how to find and apply useful information, and make choices about their future. Adult supervision, guidance, and feedback are important in helping teens learn to navigate these experiences successfully.

Parents can use resources such as the Family members’ jobs tool and College Scorecard to help teens research and understand college and career options. 

Help for Identity Theft Victims

IdentityTheft.gov now makes it easier for victims of identity theft to report it and recover from it. New features on the site allow people to: 

Get a personal recovery plan that walks them through each step

Update their personal plan and track their progress

Print pre-filled letters & forms to send to credit bureaus, businesses, and debt collectors

No matter what the specific identity theft situation is, IdentityTheft.gov can help. And, the entire site is available in Spanish at RobodeIdentidad.gov.