Saving Money, Making Money, and Protecting Financial Security

June 10, 2015

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Some Rhode Island business owners may wonder why I wrote a second edition of a book on credit card processing, Retailers Guide to Merchant Services when I am trying to make a living selling life insurance. My response is that I look for opportunities to serve my customers and anyone seeking information on increasing their profits and saving money on expenses. When they can save money on expenses, it frees up money that they may need to protect their financial security.

I have noticed there is still some confusion over some of the issues involving credit card processing even after the new legislation which was enacted in 2009. The industry is always changing. At times, the new changes have caused confusion and controversy. However, our society has increased their use of credit cards and there does not seem to be an end in sight.

Over the years, credit cards have been in and out of the news as new thieves stole credit card information from naïve consumers, causing them to lose billions of dollars. Since credit cards have been processed on the Internet, the identities of billions of customers has been uncovered and shared with nefarious thieves whose only desire is to control massive amounts of wealth.

Even though the United States is responsible for only one quarter of the credit card transactions in the world, about one half of credit card fraud occurs in the U.S. Therefore, the banking industry is attempting to alleviate this problem with fraud by attempting to adapt new technology which would make credit card users less vulnerable to fraud. As a result, business owners must comply with the new EMV technology by October 15, 2015. The EMV technology will better protect the consumer and the business from credit card fraud and identity theft.

As of 2012, there were 26.2 billion transactions involving credit cards in the U.S. This resulted in a $2.48 trillion dollars in money spent. In 2003, there were only 19 billion transactions. Two thirds of all business and consumer purchases were made with credit cards in 2012.

As credit card use has increased substantially since 2009, it has resulted in an increase in credit card fraud at many of the major retailers. The EMV technology involves the replacement of many credit cards with the new chip technology which holds all of the data for the owner of the credit card to identify him/her. A chip will be installed onto credit cards and this will involve the use of a new credit card machine which will be able to read the chip on the card.

Many countries such as Europe, Canada, Latin America, and the Asia/Pacific region, are already using the EMV card and have experienced a significant reduction in the amount of credit card fraud. The U.S. is one the last countries to take the plunge. Therefore, we have much to gain in learning all about this new technology.

The substantial increase in credit cards is also an indication that the job market has improved and gasoline prices were lower at the end of 2014. Part of the reason for the increase in credit card use is the increase in on-line shopping which requires a credit card. Tuition costs and loans have also increased over the past year by $5.8 billion.

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Fundraising for New Music School

November 27, 2014

Piano

Music is a way for children to develop talents and skills which will prepare them for future employment opportunities. Not only does it have a calming effect on children, but it also helps them to attain higher scores on standardized tests, acquire better reading and math skills, and to be more tolerant of people from other ethnic groups.

Since I observed more than one talent in the children, the school will include an arts division where students can engage in art, drama, and singing.

Having taught piano for the last ten years, I am starting a music school in Rhode Island. I have created a project on Kickstarter and would appreciate your support.


Rhode Islanders and Healthy Nutrition

January 23, 2014

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I have been covering for a friend who owns a nutrition club in Middletown, Rhode Island and I am amazed at the number of people who are taking care of their bodies. I have met several people who have lost several pounds through nutritious protein shakes and working out at the local gym.

It is great to observe people trying to prolong their lives and even have a better quality of life. When people live longer, they need more savings set aside to ensure that they have an income throughout their retirement. This means planning for the future with retirement plans and life insurance. Because people are healthier, they can work more hours to earn extra income.

In conclusion, taking care of the body through diet and exercise will enable consumers to work more hours in order to eliminate their debt and accumulate more money.

Technorati Tags: nutrition,life insurance,prolong life,retirement,Middletown,Rhode Island,diet,exercise,debts,money


Financial Literacy Conference

January 14, 2013

The National Coalition of 100 Black Women – Rhode Island Chapter is planning a conference, “Building Assets and Strengthening Families,” at the Urban League of Rhode Island, 246 Prairie Avenue, on February 23, 2013 from 9:00 am – 5:00 pm. This would be the first event, of its kind for the organization.

Scheduled speakers are Dwayne Keyes of Bank Rhode Island, Garfield Davidson of MetLife, Manny Barrows of Bank Rhode Island, and Michelle B. Davidson of Trinity Mortgage Solutions.

The Rhode Island Foundation, Bank Rhode Island, and The Black Philanthropy Initiative are sponsoring the event.


Free RX Card

November 6, 2012

 

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It is unfortunate that some of the people in New York and New Jersey, and other places where Sandy made an appearance, are still without power.  The problem seems to be that those who are in authority are not equipped to make the right decisions.

Many people have been traumatized by things beyond their control, such as the hurricanes and storms which have inundated the area with flooding and the lack of effective leadership.  Others have been traumatized by losses of jobs and lack of medical coverage.

To help offset the expenses, I am offering a free prescription card through the NAA to any of the victims of Sandy in the Rhode Island area.  The card can be used to purchase prescriptions, diabetes equipment, hearing aides and equipment and over-the-counter drugs from many of the local pharmacies.  Savings are up to fifty percent.

To get your card, please send respond to me in this blog.


Should Illegal Immigrants be Allowed to Attend College

October 4, 2011

There are so many illegal immigrants in the United States, more than we can imagine, yet so many of them are living their lives as if they were legal residents.

They shop at their own stores and do business with people from their own country whenever possible. They come around the Americans, only when they have to acquire something which they cannot acquire from their own people. This is not unusual because many of the immigrants from other countries did the same thing.

The state of Rhode Island attracts so many immigrants because of the many factories that are still operating in the state. There are over two thousand eight hundred factories that employ immigrants, and some may be illegal immigrants. When they are discovered, the illegal immigrants are sent back to their country.

Many of the immigrants also seek jobs in the southern part of Rhode Island, whose history attracts tourists who want to know more about the early settlers of this country. Because of that, there are summer jobs which are available. The immigrants take these jobs low paying and many sign as independent contractors, which eliminates the tax burden for the business owner.

They are required to show documentation that they are working and living legally in the United States, but the paperwork may be false or erroneous. Immigration officials are assigned to investigate them and when the immigrants discover that they are being investigated, they flee to another state. Disagreements and arguments with spouses is usually the cause of the investigations.

Now, the State of Rhode Island has granted permission for illegal immigrants to attend college at a reduced rate in an attempt to collect much needed revenue for the state. The parents of students who attended high school for three years in Rhode Island and received a degree are eligible for this opportunity. There is a stipulation, however, the immigrants must apply for legal status as soon as they are able or face losing the tuition.

Although the lawmakers argue that allowing illegal immigrants to attend college would contribute new to a stronger work force and improve the quality of life in Rhode Island, many legal residents who are struggling to pay tuitions oppose this new ruling.

It will be interesting to see how many of the illegal residents attending colleges actually complete their studies and how many of them secure jobs after they graduate.