Get A Grip On Your Money with Damon Carr: Recent Episodes
Damon Carr
Money Coach and Personal Finance Columnist Damon Carr Helps Everyday People Get A Grip On Their Money. Damon will delve into articles he’s written in his Personal Finance Column “The Carr Report” and “Ask Damon” E-Newsletter and he’ll discuss Trending Topics in the news about money
Car thieves have gone digital!
Rising auto theft due to signal interception is increasingly common because thieves are using devices to exploit the wireless communication between key fobs and vehicles. These devices, known as relay attacks, amplify and capture the signal from key fobs, allowing thieves to unlock and start vehicles without needing the actual key fob.
RFID (Radio Frequency Identification) blocking key holders provide a solution to this problem by preventing these relay attacks. Here’s how they work:
In summary, RFID blocking key holders work by creating a shield around the key fob that blocks radio signals, preventing thieves from using relay attacks to intercept and replicate the key fob’s signal. This simple yet effective measure helps to protect vehicles from unauthorized access and theft.
It’s SAFER to pay with Apple Pay!
Apple Pay uses a technology called "tokenization" to enhance security during payment processing. Here's how it works:
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Tokenization: When you add your credit or debit card to Apple Pay, the system doesn't store the actual card number on the device or on Apple servers. Instead, it generates a unique Device Account Number (token) for that card.
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Storage: This Device Account Number is securely stored in a dedicated chip on the device known as the Secure Element, which is isolated from the main operating system and hardware.
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Payment Process: When you make a payment, Apple Pay uses this token instead of your actual card number. Along with the token, Apple Pay generates a one-time dynamic security code that changes with each transaction.
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Transaction Security: The merchant receives the token and the one-time code, not your actual card number. This means that your actual card details are never transmitted or shared, reducing the risk of fraud.
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Authentication: For each transaction, you must authenticate using Face ID, Touch ID, or a passcode, adding an extra layer of security.
This process ensures that your actual card information remains secure and private, while still allowing you to make payments conveniently.
What does renters insurance typically cover?
(A) Only the building structure
(B) Personal belongings, liability protection, and additional living expenses
(C) Only personal belongings
(D) Liability protection only
How much is each credit card point typically worth?
(A) $1.00 per point
(B) $.01 per point
(C) $.10 per point
Avoid robbing a bank at the ripe age of 75
Say it isn’t so...I couldn’t believe my eyes when a story broke out about a Pittsburgh native, 75-year-old great-grandmother who robbed a bank at gunpoint. After seeing this, I did not know whether to laugh or cry. Truth be told...I laughed! Don't you dare consider me rude or immature, you would have laughed too. The seriousness of the situation is no laughing matter. However, the thought of a 75-year old great-grandmother slowly pacing toward the teller while adjusting her false teeth, trembling as she raises a 9-millimeter gun that she can barely hold, forcefully whispering "this is a stick up" tickled me pink.
Financial Literacy Pop Quiz
What is the main advantage of investing in a passively managed index fund?
(A) Higher potential returns
(B) Lower fees compared to actively managed funds
(C) Guaranteed returns
(D) Tax benefits
Invest in your Debt
There’s a difference between being rich and being wealthy. Being rich means you earn a high income. How much money do you have to earn to be rich? That’s a relative question. Ask a person earning $45,000 per year that question, they’ll say $100,000. Ask her person earning $100,000 per year, they’ll say $500,000. Ask a person earning $500,000 per year, they’ll say $1,000,000.00. It’s widely recognized that if your household income is more than double the national average, you’re considered upper class or rich.
The Carr Report
Financial Advice You Can Bank On!
Financial Literacy Pop Quiz
What is the main purpose of diversifying your investment portfolio?
(A) Maximizing returns
(B) Minimizing risk
(C) Increasing taxes
(D) Following market trends
Get A Grip On Your Money With Money Coach, Tax Pro, And Financial Journalist Damon Carr!
The Carr Report
Financial Advice You Can Bank On!
Financial Literacy Pop Quiz
Which is larger:
A) Quadrillion dollars
B) Quintillion dollars
The correct answer is__________
Put your thinking cap on Joe College
Congratulations are in order for this year's High School graduating class. Graduation from high school is a milestone in everyone’s life. This completes your general education from kindergarten in grade school to senior in High School. All of us who finished High School can recall the joy we experienced walking across the stage to receive our diploma. We remember the genuine friendships we developed and the teachers who taught and encouraged us. I want to encourage all those who are graduating this year to take this opportunity and enjoy it to the fullest. Have a blast at your prom, have fun at your graduation party and enjoy your final summer as a high school student. Last but not least, I want to welcome this year's graduating class to “The Real World.” You’re about to find out this “adulting thing" is both serious and expensive!
Help!! My sister married a bum! How can I help?
He started off good. Military man and good provider for his family. He got kicked out of the military. When he got kicked out of the military, he, my sister, and their two children moved in with my parents. Neither one has had a job in the 2-years they have been living with my parents. Yet, they’re still making babies. Now, it’s 3 children and them living with my parents:
I have zero respect for dude! I want to say something but not sure what to say? What can I do?
Best Damn Advice On How To Boost Your
Credit Score Ever!
Whenever I discuss credit scores, it gets the people going. No financial topic garners more attention than increasing your credit score. So when I came across a meme on Facebook posted by a friend of mine. I jumped on it. It was short, insightful, impactful, commonsense advice that was so glaringly obvious - it was funny. It read: Things to do to increase your credit score! The answer was: PAY THEM PEOPLE!!
Financial Literacy Pop Quiz
What does “diversification”
in investing mean?
(A) Putting all your money into one type of investment
(B) Spreading your investments across various asset types to reduce risk
(C) Investing only in high-risk options
(D) Keeping all your money in a savings account
(E) Buying stocks from only one industry
Select the most appropriate answer from the choices provided.
Help! I’m depleting my savings. Any advice?
I “was” always a saver. I say “was” because I’ve been on Short Term Disability since due to an off the job injury. What I did save will be depleted by the time I return to the job sometime after April.
Any Advice?
Investing 101: A Beginner's Guide to Building Wealth
There’s a big difference between building your income and building wealth. Building your income is about increasing your earning potential by developing your knowledge and/or skill allowing you to become more marketable. Building wealth is about purchasing assets that increase in value and/or generate income. Building wealth ensures you continue to maintain your standard of living even after the paycheck stops.
In this episode, I share Football great Shannon Sharpe’s story about him purchasing a car that cost 75% of his annual salary. He admitted
that was a mistake. I’m explain why I
believe you should never spend more than half
your salary on cars.
In this podcast, I’ll explain that Investing in your debt is a secure and sound invest that provides a stress free, Tax free, risk free, guaranteed return
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
In this Podcast I pay tribute to the late great Nipsey Hussle and the living legend Jay-Z. I explain the brilliant invest advice they give in their sons...I break the lyrics down from a financial planning perspective..
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
In this podcast, My wife Lashan will answer the question should you borrow from 401 k..... She’ll share 5 reasons why you shouldn’t do it!
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
In this podcast, I discuss Money and Marriage. I’ll explain that Money fights are the #1 dispute between couples. I’ll dig deep and prove it’s not money you’re fighting over - It’s deeper than money!
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
In this podcast, I’ll explain that the question isn’t at what age but at what income you want to retire
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
In this Podcast, I’ll explain that Personal Finance is more Personal than it is Finance. I’ll explain that in order to win financially, we must reconcile our net income with our gross habits
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
In this podcast I’ll explain why conventional financial wisdom - pay yourself first, live below your means, and use credit wisely don’t work...Instead you should try this- Free yourself first, use credit only when absolutely necessary and live below your means with a purpose.
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
In this podcast, I’ll share ideas on how take control of your money, beat debt, and put you on the path to building wealth
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
In this podcast, I’ll break down the difference between building income and building wealth. Yes! There is a difference between the two!
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
In this Episode, I share a story about a Pittsburgh native who attempted to rob a bank at age 75. I explained what will cause a 75 year old person to attempt to rob a bank..
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
In this podcast, I’ll discuss how Adult Peer Pressure can influence you to buy things you don’t need with money you don’t have to impress people you don’t like...Keeping up with the Joneses!
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
Stay at home orders has created a trend on Social Media...People are complaining they’re BORED. Many of the same people who are saying they’re bored are tracking the stimulus check like you track an Uber Ride...... 🤔🤔
This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app