BBB Trusted Scout is back! For more information on how BBB and BBB services assist our Military and Veterans Community, go to
Stay on the lookout for an upcoming Trusted Scout survey!
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FTC State Law Enforcement Partners Announce Nationwide Crackdown on Student Loan Debt Relief Scams
By Federal Trade Commission
The Federal Trade Commission, along with 11 states and the District of Columbia, today announced "Operation Game of Loans," the first coordinated federal-state law enforcement initiative targeting deceptive student loan debt relief scams. The nationwide crackdown encompasses 36 actions by the FTC and state attorneys general against scammers alleged to have used deception and false promises of relief to take more than $95 million in illegal upfront fees from American consumers over a number of years.
5 Most Common Credit Scams
Credit scams can be expensive and hurt your credit, but most are easily avoided if you keep you guard up. To help you, here are the five most common credit scams and how to avoid them.
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7 Money Management Tips for Kids
If you're a parent, you know how important it is to not only tell your kids how to do something, but also to show them how to do it as well. It's like putting a plate of vegetables in front of your children every night --- they won't truly adopt those healthy eating habits unless they see you eating your own share of the veggies.
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Building Your Sandwich of Savings
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Happy Birthday to the U.S. Navy!
BBB Institute would like to wish the U.S. Navy a very Happy Birthday. Thank you for all of your many years of service!
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Whether you are deployed or "in the rear," saving is an essential part of keeping your life balanced. No savings goal is too big or too small to set, and BBBI wants to prepare you to be a champion saver. Military servicemembers and their families have access to excellent resources to help ensure that their money grows. When you are financially stable, you have a lower chance of being involved with payday loans and high-interest loans, making you and your loved ones less vulnerable to fraud and scams.
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MILITARY & VETERAN FINANCES
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Blended Retirement System
By Military America Saves
Currently, 81 percent of active service members leave the military with no retirement benefits. The new Blended Retirement System (BRS) will ensure that nearly 85 percent of military service members leave the service with retirement benefits.
America, It's Time to Save
By FINRA
Be honest. If you had to come up with $2,000 to pay for an unexpected expense next month, could you get your hands on the money? Over a third of respondents to a national study by the FINRA Foundation 34 -- percent to be exact -- said they probably or certainly could not do so. That's where America Saves Week and Military Saves Week -- which runs from February 27 through March 4 -- can help.
Credit and Debt Managment
By Navy Federal Credit Union
Building your credit history now, the right way, ensures you'll be able to qualify for various types of credit in the future. To establish good credit, always pay your bill son time, keep your balances low, and try not to apply for too much credit at one time here are a few ways to immediately start building your credit history.
How Much Can I Deposit in the Military Savings Deposit Program (SDP)?
By Consumer Financial Protection Bureau
You can deposit up to $10,000 and earn interest at 10% APR. The maximum amount that can earn 10% interest is $10,000 (principal and accrued interest combined). Deposit may not be more than your unallotted current pay and allowances.
Understanding Your Thrift Savings Plan
By FINRA
Service members have access to one of the lowest-cost ways to save for retirement. The
Thrift Savings Plan
(TSP), which is like a 401(k) for members of the military and federal employees, makes it easy to invest automatically from your pay. It also gives you a choice of five index funds and target-date funds, and only charges about .029 percent for fees -- that's 29 cents per year for every $1,000 invested. The money invested lowers your taxable income now and grows tax-deferred until you withdraw it in retirement.
Change Your Savings Goals, Change Your Life
By Erik Martin, USAA
Not everyone is a natural-born budgeter - and that's okay! Saving every possible penny only for practical matters can be boring. After all, you have to treat yourself sometimes. Doing so in moderation can actually be healthy and may even be beneficial, say the experts.
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Negotiate Credit Card Rates
Did you know that you have the option to negotiate your current interest rate with your credit card issuer? It is important to know that you have some power when it comes to your current interest rate as long as you have been making your payments. You also may transfer your balance of your credit card to find one with an introductory 0% APR which can save you more money over time.
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Hello out there in BBB Land! BBB Institute is still working on rebooting Trusted Scout to
serve our readers better. We invite you to submit a guest blog, article, photographs or topics you might want covered. Stay tuned for our upcoming survey. We want your feedback! To submit your ideas, name suggestions, or a guest blog entry contact Shawnna Artis at
[email protected].
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