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Consumer Debt is Now Higher than During 2008 Financial Crisis

Written by adminJuly 2, 2019

It may not be fully understood what causes the recession, but usually high levels of consumer debt play a major role. If we take on a lot of debt, we do so because the economy allows us to. Either things are going really great, as they appear to be doing so currently record levels of low unemployment, or things are going well and people need to take on debt to get through it.

Right now, maybe both of these situations are in play. Consider that were just now coming out of the recession that hit back in 2008. It took us nearly an entire decade to get back on our feet. During that time, people had no choice but to take out debt in order to survive. They went back to school, took up credit cards, and got behind on their bills and had to use loans to pay for them.

And while these situations are in flux, the total US consumer debt has surpassed $14 trillion early in 2019. This is higher than the $13 trillion limit back in 2008. That much household debt helped send the global economy into a tailspin. We’re talking about auto loan debt, credit card debt, student loan debt, and mortgage debt, with many Americans balancing all four.

All of this data is according to Marquette Associates Senior research analyst Ben Mohr. In 2008 it was the housing market that really pushed economy into a major recession. This time, if such a thing happens, it will be because of student loan debt which is sitting a notable increase among economists and strategists.

Rising Consumer Debt

Right now, we may begin to see larger amounts of consumer debt. Read time in the stock market is at or near record highs. Housing market is doing really well, the Federal Reserve is looking at reducing interest rates, and the job market is better than it’s ever been before. When things are good like this, it starts to get some economists worried about the spending habits of Americans which can throw this entire system into a lurch.

Eventually the debt becomes too much for Americans to handle. The bubble pops. Interest rates start rising and the cost of living starts to push beyond what most Americans can handle. But were not there yet, as the Marquette analyst says defaulting on this debt is still quite low, meaning Americans and investors alike aren’t being overwhelmed.

In fact, consumer delinquency on loans are very near historic lows. Back in 2008, the increase in loan delinquencies revealed that there was a major problem in crack was beginning to form under the weight of so much consumer debt. That’s not happening today, so not too many people are worried that we’re in the midst of a new recession, but it won’t take too much, especially as the weight of debt gets heavier and cracks begin to form.

Were even finding that Americans who default on their first mortgage loans are much lower than before the 2008 recession. Were currently living in a time with historically low interest rates, increased job numbers, and steadily increasing salaries. Hopefully we can continue down this path of American prosperity.

Written by adminJuly 2, 2019

Credit & Debt , Student Loan Consolidation

Less and less Americans are becoming financially savvy. Most of the reports we’ve covered here at Financial Helpers talk about most people being big spenders, taking out loans and debt they can’t afford, and refusing to save any type of money. As a result, it’s taking a massive toll on us financially. We’re in more debt today than we’ve ever been in before.

A lot of us were never taught about the benefits of being financially responsible. As soon as we had the chance to do so, we probably ruined our credit or got caught up with a lot of debt. But for the high school and college students with no credit history at all, you get an amazing chance of starting out just right.

The easiest point to start out is the beginning, but it will take some time. A large portion of your credit score is determined by several years’ worth of on time payments. You have to be diligent and on your game. Over time, you’ll see your numbers climb higher. It’s super important to have a good credit score for many reasons.

For one, some employers look at credit scores. Showing good decision-making skills with your money and finances is important to a lot of future employers. It can also save you a ton of money down the road by cutting down the amount of interest you’ll have to pay. And when it’s time to buy a home or a car, the better score will bring down your monthly payments.

Here are a few other things you can do to build your credit score from scratch:

1) Don’t Apply Blindly for Credit Cards

When trying to get credit cards for building credit, a lot of people make the mistake of just applying for anything they can get. This is a wrong move to make. Every application you fill out that requires a credit check hits your credit as an inquiry. 10% of your credit score is determined simply by how often you apply for credit.

The thing is, you might be declined for these cards because they are above your level. Don’t go for the extremely popular American Express and Discover cards. You must have good credit and a steady income to find your way towards those. Instead, find starter credit cards. They will give you less credit to play around with and may even require a deposit to get started.

Rather than getting an inquiry hit and risking being declined, go for the smaller cards and those you have a better chance at being approved for. Yes, these cards will probably suck and have horrible interest rates, but as long as you know how to use a credit card, that won’t matter. Let’s look at what that means in the next point.

2) Don’t Go Crazy with Credit Cards

The best way to build your credit isn’t to go crazy and max out your cards every month. In that case, you risk something happening and defaulting on your payments. If you can’t make 100% on-time payments, it’s going to work against you by hurting your credit. Instead, use your credit cards sparingly. Use what you can pay off each month and you’ll avoid having to waste any money on accumulated interest and still get a 100% on-time payment reputation.

3) Learn What All the Terminology Means

When dealing with credit, there are a lot of things you need to know. What’s your interest rate and how is that calculated? What’s APR? Do you know what annual fees and minimum payments mean? There’s a lot of stuff that can really swamp you if you’re not prepared and knowledge about how the whole system works.

Written by adminJuly 2, 2019

Saving , Student Loan Consolidation

Currently in the United States, prescription drugs cost a lot higher than anywhere else in the developed world. It can be a major burden on many Americans, especially those who rely on certain drugs to keep them alive. Diabetics and people with severe allergies couldn’t survive without their medications.

The average American pays somewhere around $1,200 each year for their prescription drugs. Seniors often pay more as the cost of drugs is only expected to go up in the future. This is according to data from several major study projections that expect drug costs to rise 6% per year through 2027. This is as many Americans are fighting for free healthcare.

If you’re struggling to buy prescription drugs for yourself or for a loved one, here are 5 ways to save money on these drugs:

1) Get Generic Drugs

Many of us don’t know the full dynamic between doctors and the drugs they prescribe. They don’t realize that mega pharmaceutical companies can have doctors in their back pockets. They’ll actually reward them for prescribing the expensive name brands. To counter this, all you have to do is tell your doctor that you’re on a budget and just want generics. Don’t be afraid to tell your doctor that you’re limited financially and they can help find a pathway of treatment that can fit your budget and lifestyle.

2) Split Your Pills in Half

Depending on the types of medications you get, you can try cutting them in half. It might sound strange, but it will ultimately save you money. Ask for a higher dose and use a pill cutter to cut the pills in half and you’ve just saved yourself half of your medication budget. This is one trick a lot of seniors are doing to make their medications last as long as possible.

3) Use Apps, Cards, and Membership Plans

A lot of the bigger pharmacies around the country, like CVS, Rite Aid, and Walgreens, each have their own membership card program that can help you save money on your prescriptions, as well as other items in the store. There are many apps out there as well, like GoodRx and WellRx that will highlight the costs of individual drugs and tell you their prices at different stores so you can compare price your medications, making it easier on you.

4) Get Drug Coupons

Yes, drug coupons do exist! As well as trying to get your doctor to push the expensive, name brand drugs, the pharmaceutical companies will also send your doctor coupons! Again, don’t be afraid to tell your doctor that you’re struggling financially. They will most likely do whatever they can to help you get the medications and treatment you need at a better price you can afford.

5) Use a Non-Profit or Assistance Program

Your area, especially if you live in a low-income town or city, might have some prescription drug assistance programs in your area. There may even be federally mandated assistant programs for you to choose from, like NeedyMeds, the Patient Advocate Foundation, and The Partnership for Prescription Assistance.

Written by adminJuly 2, 2019

Life Style , Student Loan Consolidation

People have been waiting around for the flying car ever since Back to the Future promised us this advancement back in the 1980s, but we’re not quite there yet. Still, we’ve come a long way in transportation since our horse and buggy days. For many decades, your average combustion engine has been the way of the automobile.

It has dominated sales for three main reasons:

1) Cheaper to make than electric cars,

2) Better range than electric cars, and

3) Cheap fuel.

These days, the paradigm is shifting. Concerns over global warming caused by pollution from cars and trucks are at an all-time high. Global temperatures are rising and smog is only getting worse in heavily populated areas. The only way to combat these issues is through the advancement of technology and purchasing electric cars.

If you find yourself concerned for the environment and desire to play your part in helping fix the problem, there are a few things you need to know before buying an electric car. Here is a short list of things you might need to know:

1) What is your normal route? The one downside to electric cars is their lack of range. If you live and work on completely opposite ends of a large city, or maybe you’re situated way out in the country, you might want to second guess the electric car and go for a hybrid. Electric cars only have a maximum range of 100 miles. A lot of them are shorter than that. Do you do a lot of driving during an average day? Do you take a lot of trips? Get stuck in traffic a lot? If so, then a hybrid vehicle might be the best for you, as it combines an electric engine with a combustion one, so when the battery juices run out, it switches over to gas.

2) Consider where you live. Anyone who has ever driven a vehicle with a battery in very cold weather knows that the battery doesn’t extreme temps. If you live somewhere that gets super cold for a prolonged amount of time, then an electric car might not be for you. You must also consider your availability to a charger. Some require a simple power outlet. A lot of places where the EV cars are most popular are integrating charging stations. So, always be sure to know your surroundings and if having any type of EV or HEV is right for the conditions.

3) EVs have very little noise. If it’s one thing all car owners know well, it’s the hum of the combustion engine. The sound it makes when it starts up, when it’s being revved, and when you’re slowing down. It will take some time to get used to the fact that electric engines are virtually silent. This might be great, except for the fact that no one will hear you coming. This can be dangerous when going around corners. It will require you to change the way you drive.

4) You’ll have to rethink fueling up. We’ve all done it before. We’ve all waited until the tank was nearly empty, driving on fumes to pull into the gas station. We save fueling for when we’re out an about because it takes typically 5 minutes or less. With an electric car, you don’t have that luxury. The average time to charge a battery is 90 minutes. So, if you’re rushing late to work and you forgot to charge your car overnight, you’re out of luck. You can’t just stop at the gas station.

5) Costs of going green. Yes, the biggest perk of going green is you no longer have to spend money on endless gallons of gasoline. This doesn’t require the constant repairs, oil changes, and other maintenance issues that crop up with a combustion engine car. But one of the biggest complaints about the EV is they are typically more expensive. Their expense is why gasoline powered cars became more popular than electric all those years ago. You should be able to do your research and see how the cost vs. savings plays out for you.

6) The government might want to help you get one. Combined with point #5, you should be sure to check into whether the government is in the mood to help cover the costs of buying an electric car. They often offer subsidies to encourage people to go clean instead of buying a cheaper, combustion engine vehicle. Both the federal and state level governments offer their own benefits, so be sure to check what you can obtain for your state.

7) These things go fast! Face it, we all love speed. It’s a need, really. There’s a myth out there that electric cars are super slow compared to the muscle-power you get with a combustion engine. The latest Model S EV from Tesla can hit zero-to-sixty in 2.8 seconds. That’s some serious speed! It’s comparable to the 918 Spyder from Porsche! Whatever specification you have in a car, an EV offers all the torque you need.

8) Not for towing. While electric vehicles have great speed, the technology doesn’t exist quite yet for them to do any heavy-duty work. Not only is range an issue, but EVs are generally weaker.

9) You can go hybrid. If you need more range or power, then you should consider a hybrid vehicle. Hybrids combine the electric battery with the usual combustion engine. The purpose of these is sort of a bridge between full-electric and full-gasoline. When the battery runs out, it would automatically jump to the gas engine.

As environmentalism grows in fervor, more people will start to search for cleaner ways to get around. Electric cars are the future of transportation. Armed with these nine things to know, you’ll be well on your way to living as carbon-free as possible. There are other things to know and remember, which we will provide in future articles.

Written by adminJuly 2, 2019

Credit & Debt , Student Loan Consolidation

Your credit score can impact a lot more than you realize it does. We’re talking about its ability to keep you from making major life decisions, taking care of yourself during an emergency, or even the ability to save money. Low credit scores can also be blamed for causing issues in relationships and putting a person in turnoff territory.

Low credit scores can cause higher interest rates, expensive insurance, and so much more. Sometimes, a bad score isn’t the person’s fault. Perhaps they had a medical emergency and are now trying to pay back a lot of debt. A divorce and big spending by a spouse can lead to it as well. Either way, low credit scores make life difficult.

The new middle class is essentially a person who is making a decent amount, but are unable to save. A lot of them don’t have health insurance, which costs them big time in the end. There’s new information coming by Elevate, a company that looks at data from non prime Americans. To be considered non prime, you must have a credit score below 700.

Those with a low credit score are finding out they have a harder time financially than those with a good credit score. This might seem obvious, but it happens in ways you might not expect. Their incomes are less steady. They’re paying a lot more for things that someone with good credit is paying less for.

Credit Scores and Dating

42% of people who were surveyed said the person’s credit score played some role in their interest in another person. This is an interesting statistic found by Bankrate and Princeton Survey Research Associates International. A good credit score says someone is responsible with their finances and money issues cause problems in relationships.

Women are rightfully more judgmental about credit scores than men. The survey looked at 1,000 adults and found about half of the women said they wouldn’t date someone with a bad credit score. Men care less about it, with only 35% saying the same. Older millennials are the group that seems to care the most about the subject.

There are very good reasons for this. Low credit scores can make it nearly impossible to buy a house, get an auto loan, get any type of loan if one is needed, and so much more. Even if they’re able to find that one company out there willing to give them, let’s say, a mortgage, they’d pay nearly $50,000 more than people with good credit.

This is ultimately what makes life more difficult for people with a lower credit score. They’re shelling out a lot more money and it’s catching up to them. They make higher monthly payments and can’t seem to get ahead in their finances. This is why it’s essential to focus on improving your credit score and saving money any way you can.

Written by adminJuly 1, 2019

Student Loan Consolidation

Choosing to pay less now will cost you more in the long run.

Just graduated? Done with the partying and ready to enter the workforce? Based on a recent study from the Institute for College Access and Success, graduates that have student debt owe about $30,000 on average.

But as a direct result of interest, they are likely to end up paying thousands more over the course of the loan. It all comes down to limiting the amount you pay in interest by choosing the right repayment plan for yourself.

With helpful tools like the Department of Education’s Repayment Estimator, recent graduates can better understand the potential costs of holding on to that student debt for longer than they have to.

Call Now 844-332-2079

For example, if you have $30,000 in unsubsidized federal student loans, at the current 2019-2020 average undergraduate interest rate of 4.53% this is how much you will end up owing.

Standard Repayment Plan

Monthly Payment: $311
Repayment Term: 120 months
Total Amount Repaid: $37,311

The Standard Plan splits the loans into 120 equal payments over 10 years. Federal borrowers automatically start repayment upon graduation unless they choose a different option. This adds roughly more than $7,000 to the loans’s balance, but that’s still less than what they would accumulate under other plans.

The general rule is that borrowers should stick with the standard repayment plan if payments are not more than 10% to 15% of their monthly income. Sure, the monthly payment is higher than other plans, but you save more in interest charges.

Graduated Repayment Plan

Monthly Payment: $175 to $525
Repayment Term: 120 months
Total Amount Repaid: $39,161

The Graduated Plan starts with low payments that increase every 2 years to complete repayment in 10 years. Despite the similar repayment term as the standard plan, graduated repayment costs $1,850 more as a result of accrued interest.

This might be more manageable for borrowers who expect their earnings to increase in the future, but those that start off well in their career should try to work with the standard plan because of the lower interest cost.

Extended Repayment Plan

Monthly Payment: $167
Repayment Term: 300 months
Total Amount Repaid: $50,027

The Extended Plan is not going to be the best option for a lot of people, but it is available. Stretching the repayment period to 25 years, the payments can be adjusted to be either fixed or graduated. Fixed payments would add more than $20,000 to an initial balance of $30,000. Graduated payments will definitely inflate your balance even more.

Income-Driven Repayment Plan

Monthly Payment: $261 to $454
Repayment Term: 110 months
Total Amount Repaid: $37,356

There are four income-driven repayment plans made available by the federal government. These are based on your income level and family size. The example above uses the Revised Pay As You Earn plan, taking into account a family size of zero and an income of $50,000.

IDRs usually cost about the same as standard repayments plans, but they are usually a safety net for borrowers who cannot afford their loans and are afraid of defaulting. Sometimes payments can be as small as $0 and any remaining balances are forgiven after 20 to 25 years of payments.

A lot of things can happen over the course of repayment, and IDRs are always available should you choose to switch plans when you hit the tough times. But keep in mind that while an IDR can reduce monthly payments, you may pay more overall because the repayment period is longer than the standard plan.

Looking to Save More?

The cheapest repayment plan still adds roughly $7,000 to your total loan amount. If you would like to save even more there are a couple of options available to you.

For one, you can start making payments during the six month grace period after graduating. You can also pay off interest before it’s included to your balance, or allow your loan servicer to set up automatic payments from your bank account which also lowers interest rates.

Another method would be to set up bi-monthly payments, or you can prepay your student loans without incurring any penalties.

If you’re looking for any financial advice on student loans or any other topic, feel free to reach out to the Financial Helpers. We are always ready to help.

Call Now 844-332-2079

Written by adminJune 28, 2019

Real life

Do you consider yourself an online shopper? Are you hungry for some of the best deals of the year so far? Then hold on to your hats! Amazon Prime Day 2019 is on its way! Prime Day is the Black Friday of summer shopping sales found only Amazon! Such amazing deals will be had during this two-day extravaganza and you have to be prepared for it!

2019 will be Amazon’s fifth year hosting its annual Prime Day sale. This sale is designed to attract people who have Amazon Prime by offering them amazing deals they can’t find anywhere else. Again, imagine Black Friday and all the people lining up to get their favorite stuff ridiculously cheap. That’s exactly how Prime Day works!

The best part is, every single year, Prime Day has gotten bigger! More amazing products have found themselves as the target of incredible sales than ever before. This year hopes to be an even bigger turnout than ever before. Now that the economy is surging and people have more spending money, this should be a record year for Amazon.

What We Know About Prime Day So Far

Prime Day is set to begin on Monday, July 15^th right at midnight and last a full 36 hours through the 16^th. It’s unknown what kind of deals we can expect, but Amazon is already revealing several pre-Prime Day sales, so head on over to Amazon to see those deals and many others. At least you have a few weeks to save your money if you plan on indulging in a bit of early-holiday shopping!

We do usually expect electronics to be a favorite. Amazon always puts out a cheaper Kindle Fire, 4K TVs, Fire TV sticks, headphones, and so much more. They even offer discounts on their other goods, like cooking utensils, Instant Pot, vacuums, and other household items. Still, we won’t know for sure until we get closer to the event.

This year is also really good news if you’re looking to save extra money. Both eBay and Target have announced plans to try and upstage Amazon by offering amazing sales of their own. So, if you’re really looking to save a lot of money, you have the perfect chance in mid-July to do a bit of sale shopping!

The difference between Target and eBays sales verses Amazon’s is that you don’t need a Prime membership for Target and eBay. Amazon requires a Prime membership to take advantage of their sales. This is one area where Walmart and other stores can try to compete with the online retail super-giant.

Written by adminJune 27, 2019

Real life

Do you consider yourself a grill master? How good are you with ribs? If you can hang as one of the best grilling chefs in America, then you might get to join Reynolds Wrap in a journey across the United States this summer. It’s only for a few weeks, but the pay is solid at $5,000 per week. This is a deal I don’t think anyone can pass up!

Reynolds Wrap has officially stated that they’re looking for their next “Chief Grilling Officer.” If that Chief Grilling Officer is you, then the company will let you choose a friend to join you on the quest of finding the best BBQ ribs in America. They don’t just pay $5,000 per week (in the form of a $10,000 stipend), but also all your lodging and transportation costs.

Now, you may be chomping on the bit to take this job, but it’s not for the faint of heart. You’d be asked to eat A LOT of BBQ ribs over a two-week period. If you can handle it, then the role of Chief Grilling Officer can be all yours! The contest would have the CGO traveling the country and looking for the best rack of ribs in America.

“If you don’t mind being paid to taste test some of the most delicious BBQ ribs across the country, posting envy-inducing pictures of your food and falling asleep every night dreaming about your next rack of ribs, then you could have what it takes to be the next Reynolds Wrap Chief Grilling Officer,” Reynolds Wrap said in a statement.

Genius Marketing Stunt

There are a lot of ways of using Reynolds Wrap foil when barbequing, especially when grilling a rack of nice ribs. A marketing stunt like this, sending the Chief Grilling Officer to find the best ribs in America, is surely done to promote their brand and how amazing chefs, grillers, and smokers across the land use Reynolds Wrap foil for their tasty food.

In order to qualify to be chosen, Reynolds Wrap is asking each contestant to send in a photo that shows them grilling and using their products. They’re also asking for a 100-word essay that explains why you should be the Chief Grilling Officer. But you must hurry! The deadline for this contest is coming up soon!

Written by adminJune 27, 2019

Business , Technology

Tesla aiming to manufacture their own battery cells to reduce dependence on Panasonic.

According to five current and recent employees, Tesla is designing the means to manufacture their own battery cells en masse. This is in spite of an extensive partnership deal signed with Panasonic, who have been making battery cells for Tesla since 2014.

It’s no big secret that the battery pack and battery cells are by far the biggest cost component of Tesla’s electric vehicles. This development will definitely help to lower the cost of production on Tesla’s electric vehicles while cutting out data and resource sharing with any outside vendors and partners.

Call Now 844-332-2079

Earlier this month at Tesla’s annual shareholders meeting, CEO Elon Musk admitted that the company had been “battery-constrained”. What this means is that Tesla’s shortage of batteries limited their production and sales of their electric vehicle and storage systems such as their Powerwalls and Powerpacks.

If Tesla can pull this off, that would complete their vertical integration as they would be developing, manufacturing and selling their own product. They would be hard-pressed to scale their manufacturing process for these battery cells as they continue to struggle to do the same for their vehicle production.

The “secret lab” in question

Tesla currently makes most of its batteries at the Gigafactory in Sparks, Nevada, which it jointly owns with Panasonic. In light of Tesla researching their own battery option, it makes sense that they would divert resources to a separate facility.

The battery research and development division is located at the Tesla’s Kato Road facility a few minutes drive from the company’s car plant in Fremont, California. There, Tesla aims to design prototype advanced lithium ion battery cells, as well as develop processes that will allow mass production once it’s ready to go to market.

Even if Tesla is successful in developing this new battery, this does not mean that they will cut ties entirely with Panasonic. Tesla employees that are kept apprised of supplier negotiations say that the company will be working with Panasonic and LG in producing the batteries that will go into the first vehicles manufactured at the new Shanghai factory. The new factory is slated to be operational by the end of the year, and initiate mass production in 2020.

Tension between partners

This initiative to bring battery manufacturing in-house has been public knowledge for a while now. At Tesla’s annual shareholder meeting in June, Musk encouraged investors to place their focus on two company priorities, namely complete self-driving vehicles and scaling battery production.

On the latter point, he dropped no details however on how he intended to do so, including the reason for the $218 million acquisition of energy tech company Maxwell Technologies back in May this year.

Tesla CTO JB Straubel said that,” We’re taking all the moves required to be masters of our own destiny here. I think through all the experience we’ve developed with partners and otherwise, we will have solutions for this.”

His comments follow reports of tension between the two companies. In January this year, Panasonic made a deal with Toyota to build car batteries together in a joint venture. A few months later in April, Panasonic said it would temporarily freeze their investments in Tesla Gigafactories.

Musk hit back a few days later, blaming Panasonic for delaying Model 3 production by lowering capacity, threatening to pull financing until cell line capacity was brought up to speed.

Panasonic seems to have come out on top though, as in recent years many Tesla employees have been moving over to Panasonic, lured by better compensation, clear policies on schedules and time off. As for Tesla’s aspirations on battery production, only time will tell.

Call Now 844-332-2079

Written by adminJune 26, 2019

Real life

Currently, you might be one of the millions of people looking for a job. Perhaps you’re a college graduate enters the market for the first time, looking for a summer job, or you just want a change. Either way, the easiest and most convenient way to find work these days is through the internet. There are a ton of job boards and websites to submit your resume.

The sad thing is, there’s a lot of risk when you use these sites. The Better Business Bureau just put out a warning for all job hunters to watch for fake job postings, work-at-home opportunities, and scam opportunities. A lot of these jobs can appear to be legitimate and even have real company names and logos to fool their victims.

The key here is to remember the rule: if it’s too good to be true, it probably is. They’ll make promises of massive wages, great benefits, health insurance, and whatever they can to overwhelm you into thinking you just hit the jackpot. Then comes the scam, where they will ask you for upfront money to be trained.

The scammers will even ask you to send them money to purchase supplies. They’ll create some complicated scheme where they will want your bank account info to send you money to buy these supplies. It’s never an easy process. Before you know it, you’re being jerked around, they’ll need more money, or even say they accidentally sent too much and need the difference back.

Do Research Beforehand

Again, if it’s too good to be true, then it probably is. These scammers know how to draw on people’s desires. Who wouldn’t love an excellent opportunity to work from home or make money while shopping. We all want to do these things, so it’s quite easy to get caught up in their lies

“No legitimate job would ever overpay an employee and ask for money to be wired elsewhere,” the BBB warned. “This is a common trick used by scammers. If the job posting is for a well-known brand, check the real company’s job page to see if the position is posted there. Look online; if the job comes up in other cities with the exact same post, it’s likely a scam.”

Usually, these scams are well known. You won’t be rolling up on a fresh new scam, which is why it’s important to do research on the companies and jobs before giving any personal information. There’s already likely information out there, especially on the BBB website that will tell you if certain offers are scams.

“Be cautious sharing personal information or any kind of prepayment,” it said. “Be careful if a company promises you great opportunities or big income as long as you pay for coaching, training, certifications or directories.”

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