Classic “Dadisms” About Money

Fathers Day Tools

Dads tend to have a funny way of expressing themselves don’t they? I chalk it up to the fact that most dads have a repertoire of favorite sayings they always use. You know the ones, “If it ain’t broke don’t fix it” or “Rub some dirt on it, you’ll be fine” and the always classic “Don’t make me turn this car around!”. These oft-spoken phrase are known as dadisms and for Father’s Day I thought I’d share a few classic dadisms that pertain to money…

  •  Money doesn’t grow on trees you know. Score one for old dad because money, in fact, does not grow on trees. I can hear all the smart mouths out there saying: “But paper comes from trees and money is made of paper so there!” I know they’re saying it because it’s what I said to my dad whenever he told me this. Well it’s knowledge time kids: today’s American bills are actually made of about 75% cotton and 25% linen. So go easy on your dad, he’s just trying to impress on you the fact that money doesn’t come easy, and you don’t want to waste it.
  • Do I look like I’m made of money? A classic dadism. No dad, of course you don’t look like you’re made of money, because as your child I would also then be made of money, and therefore wouldn’t need to bug you for $20 so I can run to the comic book store. This is of course just another weird way that our fathers were trying to get us to think about money more critically, instead of just buying every shiny thing that caught our little eye.
  • Were you raised in a barn? or Are you trying to heat/cool the whole outside? Ah, this one may be my favorite. Anyone who didn’t close the door fast enough, or left it open because they “were just going to be a second then I was going right back outside dad! Geez!” probably heard this tried-but-true favorite of dads everywhere. What we fail to understand as children (well, one of the many things) is the concept of utilities. “You mean we don’t just get unlimited water and electricity for free? Yeah right dad, pull the other one.” But once we get a little older, have our own place, and are paying our own electric bill we quickly understand that our wise dads were just trying to get us not to waste money. (Special mention goes to moms for their variation of this phrase that applies to kids who stand with the refrigerator door open for extended periods of time trying to figure out what they wanted to eat.)
  • If it were easy then everyone would do it. Another very popular dadism but this is just the plain and simple truth. Thanks dad, for helping us all learn that hard work and perseverance is what will get us ahead in life.

Even if it might sound like gibberish or the insane ramblings of an over-worked, middle-aged man on the brink, more often than not dads actually do know what they’re talking about. They just have a weird way of getting the message across. So be thankful our dads passed these phrases along, many of us will be using them on our own kids one day.

13 Money Superstitions for Friday the 13th

friday 13th

Friday the 13th is the one day (or more than one depending on how the calendar falls) when everyone seems to get at least a little superstitious. The date is so famous (infamous?) that it even has two words to describe the fear of it, and boy are they doozies: friggatriskaidekaphobia and paraskevidekatriaphobia. Good luck saying that five times fast. Anyway, we all know the most-common superstitions associated with Friday the 13th: don’t let a black cat cross your path; don’t walk under a ladder; breaking a mirror will bring you seven years of bad luck; etc. Well, people tend to be very superstitious about their money also, so let’s take a look at 13 common money superstitions.

  1. See a penny pick it up, all day long you’ll have good luck!
  2. If you always pick up burnt matches instead of leaving them to lay then money will come to you.
  3. Write with green ink (never red!) and money will flow from your hand.
  4. Fold a new dollar bill lengthwise and you’ll keep your money.
  5. Keep a penny wrapped in paper in your pocket and money will continue to find you.
  6. If you mend or sew on clothes while wearing them you will always be poor.
  7. Peel an onion and burn the skin then money you are sure to win!
  8. If your left palm itches and you rub it on wood then you’ll receive money by the end of the week.
  9. If you see a shooting star and say “money” three times before it’s gone then riches will soon be yours.
  10. If you find money on the first day of the year and keep it, then you will have money throughout the rest of the year.
  11. If your initials spell a word it means you will be rich.
  12. Placing money in the right-hand pocket of new clothes will ensure you have money. Placing it in the left means you’ll have no money as long as the clothes last.
  13. Giving an empty wallet as a present will bring bad luck to the recipient.

This list just barely scratches the surface of all of the money superstitions I’ve heard over the years. For example, I recently heard one that says sorting your money according to denomination is supposed to bring good luck, but I’ve always done that because of my OCD, not because of luck.

Know any other money superstitions? Share them in the comments below…

Tips for Traveling this Summer

Wow, this food is expensive!

Unless you absolutely can’t avoid it, don’t waste your hard-earned money on airport food. In an airport, you are a captive audience, so they will charge insanely high prices for everything. If you just can’t stand waiting, I recommend something small like a pretzel.

Even when I’m rolling through the airport at a typical mealtime, I’ll only have a snack. Personally, I’d rather save my money and appetite for the really good food when I arrive at my destination.

Less is more.

Twenty dollar bills tucked into jeans pocket. Shallow dof.

Cash is an easy way of paying for things quickly and conveniently, but it does have some drawbacks:

  • One credit or debit card can hold thousands of dollars’ worth of purchasing power, but the same amount of cash puts quite the bulge in your wallet. Save space, travel light on the green.
  • Cash is not replaceable. Once that stack of bills you have in your wallet gets lost or stolen, it’s gone. With a card, you can cancel it quickly and conveniently, significantly minimizing any losses you may incur.

I recommend only carrying enough cash for incidentals, such as tips, cab fares and other small purchases you may want to make. For your big souvenir purchases or vacation dinners, credit or debit cards are much more convenient and likely offer rewards to offset some of the cost.

“Hey, I’m leaving the eastern time zone!”

For your protection, many financial institutions will block cards that show unusual use. For example, being used on vacation in San Francisco, California, when you typically only use your card in the tri-county area. While this may seem like a hassle, it really is for your protection and is avoided by simply calling and letting your financial institution know where you are going to be and for how long.

Compartmentalize.

For the cash you do carry, don’t put all your eggs in one basket. I may be going a bit far, but when I travel I carry some in my wallet, some in my checked bag, some in my carry-on and I’ve even been known to stash some in my sock. (Note: take stashed cash out of socks before going through security!) If one or more of these items gets lost or stolen, you should have something stashed away to fall back on. At the very least, I recommend splitting your cash into two separate locations, such as your wallet and your luggage.

Have fun, but be safe!

vacation1

Of course, the most important part of vacationing is to have fun, but remember to be safe about it. Don’t flaunt the fact that you are a tourist or that you have a bunch of cash in your wallet. Heavy tourist locations are notorious for having a lot of people who will try to take advantage of the unwary vacationer.

Use the comments below to talk about your best money-saving travel tips.

Financial Tips for High School Graduates Headed to College

by Hope Roush, OVB Financial Literacy Leader

studentwalkingThe hard work finally pays off and just like that high school is over. For many recent high school graduates the next step leads to college, which can be both exciting and scary.

A good way to get the college journey off on the right foot is to be financially prepared. One of the first steps a new college student can take is to open a checking account. Many banks offer student accounts. For example, at Ohio Valley Bank customers’ ages 16-25 can take advantage of Right Start Checking. With this account there is no monthly service fee, which is very helpful to college students. Through Right Start Checking, customers also have access to eDelivery statements as well as free online and mobile banking. A checking account helps with budgeting and managing money as well.

In fact, creating a Read more of this post

Kindergarten Grad Gift Ideas

Approximately four million children will graduate from kindergarten this spring; so chances are, you know a little one that is taking his or her first step into big kid territory. How will you commemorate this special event? We’ve put together some gift ideas for your little grad.

 

Story Lines 1463143_553240208090299_300722481_n (1)Storybooks – We loved these books found at Hatch on Broadway Street in Jackson. Kids get to flex their creativity by illustrating the story, even the cover! Several titles are available. Books sell for $9.99 each. www.shopathatch.com

Education IRA or College Club CD – Starting a college fund for your loved one at Ohio Valley Bank is a smart and practical gift. Those twelve years to college go by fast. Saving early is key. According to online advisor CollegeData a moderate college budget for the 2013-2014 school year averaged $22,826 at in-state schools, with private schools averaging $44,750. www.ovbc.com

A Night at the Movies – Kids love mixing up their own popcorn concoctions at the free topping bar inside  Silver Screen VII in Gallipolis. Gift cards are available in any denomination and can be used for everything from snacks to kid-friendly summer blockbusters like How to Train Your Dragon 2 and Planes: Fire and Rescue. On the first Saturday morning of every month, the cinema also holds special sensory-sensitive showings for families affected by autism. www.silverscreenvii.com

10287210_10154090626325564_1226480157_nCraft Bag – Creativity and organization collide in this fun and functional gift available locally from Thirty-One Director Melissa Davis. Pouches keep everything in its place and easily accessible for little fingers. Bags can be personalized. www.mythirtyone.com/MAD

Grad Trophy – Nothing says “I’m a winner” like a trophy. These cute graduation trophies from Ron’s Trophies in Wellston and Gallipolis can be finished with an engraved plate as an extra special momento. Prices start at $4.00 including engraving. 740.446.4460

bh542c3448_Personalized_Graduation_Trophies_Male

7 Tips For Banking Safely On Your Smartphone

I bet it would fit in MC Hammer's pocket as-is.

I bet it would fit in MC Hammer’s pocket as-is.

Our smartphones today make the computers of yesteryear look like children’s toys.

Their average processing power, storage capacity, functionality, and (of course) portability would astonish early computer developers. From Angry Birds to Instagram, to Gmail and Skype, our phones do it all these days.

The advent of online banking in the mid 1990′s took the logical leap to our mobile devices as well. Who wouldn’t want the convenience of checking their balance or paying a bill from the palm of their hand?

However, as with any new technology there arises the potential for abuse. Many of the same techniques used by hackers and cyber-criminals to steal information from your personal computer are being used to do the same to your smartphone. Thankfully, just as there are many ways to safeguard your home computer, your smartphone has a great deal of options for security too:

  1. Use Passwords/PINs. All of the major smartphone operating systems offer the option to lock your phone until you put in a PIN, a gesture combination, or some form of password. This option should be one of the first things that you do once your new phone has been activated. Make sure that the PIN you choose is not something easy to guess. 1234 for example is a pretty common choice. Also make sure that you do not choose a PIN or gesture combination just because it is easy to input. Many people will choose one that is easy to input in a flash. These gestures are easy to guess as well because of their ease-of-use.
  2. Set Your Phone to “Time-Out” Sooner. The number one battery drain on our smartphones these days are our ultra-sharp, pixel dense, high-definition screens. So by setting your phone’s screen to time-out after a minute or so of inactivity is a smart move for saving your battery life, but it also has added security benefits. Should you set your phone down and walk off without it (an all too common occurrence) anyone who happens upon it will have access to your phone’s contents. However, if you set your phone’s screen to time-out after a minute or so of inactivity, and have activated a password feature on your phone (see above) then anyone picking up your phone will need to have the password to access it. Some of you may think it is such as hassle to have to slide your screen open every time you get a text, but think of the hassle it will be to have to reclaim your credit score from fraudulent charges because someone stole your phone and was able to easily access your information. Which seems worse?
  3. Find My Phone. One great way to safeguard your smartphone’s data is to never let it out of your sight, but how realistic is that? As mentioned above, the frequency with which people will set down their phones and walk off without them is astounding. (Just ask any waiter or bartender.) Thankfully smartphones today come equipped with the latest and greatest bells and whistles, like GPS. Using the functionality already found on your smartphone you can easily locate your phone should it be misplaced or stolen. iPhones use the app Find My Phone; while Android phones have many options in the Google Play Store, the app Where’s My Droid seems to be the most popular; Windows Phone is perhaps the simplest of all since it requires no app to download and no setting to turn on, just go to this page on WindowsPhone.com and follow the instructions.
  4. Update. Update. Update. Keep your phone up-to-date by installing your operating system and app updates, as well as your phone manufacturer’s firmware updates. When a loophole or security breach is discovered in an app or your phone’s OS, the fix is sent out in the form of an update. Make checking your phone for updates part of your daily routine. It only takes a few moments, and that is a lot less than you could spend if your personal information gets hijacked.
  5. Consider Antivirus Apps. Well known antivirus makers like AVG, McAfee, Symantec, and more have made their antivirus software in app form for your mobile devices. There are free ones, paid ones, some might even come bundled with the antivirus software you purchased for your desktop. If you think of your smartphone as a tiny, handheld computer (which it is) then you realize that antivirus apps make a lot of sense.
  6. Be Wary of Open WiFi Networks. Free WiFi is like a godsend if you don’t have an unlimited data plan or if you’re in an area with poor cell reception. How else are you going to share your beautifully cropped, eloquently filtered piece of art that was the cappuccino and Panini you had for lunch? Seriously, I’d like to know because I’ve been there. Well, an unfamiliar WiFi network is a prime way for an unscrupulous individual to grab your data and information, or send some piece of malware your way. If you don’t know who is in control of the WiFi you are about to connect to then it’s probably best to just let it go until you get back to more familiar territory.
  7. Use Bluetooth with Caution. Like WiFi, open Bluetooth connections are a great way for hackers and identity thieves to grab control of your device and its data. This even has its own fun-sounding name: bluesnarfing. However there is nothing fun about what this entails. By connecting to your device’s Bluetooth connection, one is able to retrieve information from your phone or send harmful programs to it. Thankfully today’s Bluetooth protocols have made this more and more difficult for people to pull off but that doesn’t mean you should let your guard down. Simply turning off your Bluetooth connection when you’re not using your Bluetooth-enabled headset or other devices will help minimize this risk.

Our smartphones are amazing things. The handheld communicators of Star Trek are in our pockets and purses today, but they do so much more!

Captain James T. Kirk

“Spock…can you…hear me…now?”

With a plethora of apps it’s easy to carry your virtual life in your phone. To paraphrase Spider-Man’s Uncle Ben: “With great convenience comes great responsibility.” Using your smartphone to do your banking is a perfect way to save time and energy, just be certain that you take the proper precautions.

Now excuse me, today’s the day I finally get past level 147 on Candy Crush Saga.

 

Have you ever used your smartphone for banking or to make purchase? If you have any extra security tips to share please do so in the comments below!

More Financial Lessons We Can Learn From Star Wars

The Star Wars logo.

®Lucasfilm/Disney

Last year for Star Wars Day we discussed a few things that the franchise can teach us about finance. Well since there are three new movies on the horizon, we thought we’d revisit the topic and see what other pearls of wisdom we can learn from “a long time ago, in a galaxy far, far away”. So here are four more financial lessons we can learn from Star Wars…

  •  Keep An Eye on Your Finances/Credit Report. In Attack of the Cones we learn that Jedi Master Sifo-Dyas had ordered, and paid for, the production of a clone army on Kamino. This was done without the consent or knowledge of either the Jedi Council or the Galactic Senate, but it was done in their name! Imagine if Sifo-Dyas had defaulted or not paid in full? What would that have done to the Council’s credit score? Speaking of which, it’s important to check your credit report at least once a year. Thanks to the Fair and Accurate Transactions Act of 2003 (or FACTA), the federal government has made sure you can do this for free at AnnualCreditReport.com. The three major credit reporting agencies, Equifax, TransUnion, and Experian, can also provide you with credit reports but they do offer paid credit monitoring services as well so be mindful of what you’re signing up for. If the Jedi Council had checked theirs, maybe they would have seen the order of a clone army in their name and been able to stop the ensuing war before it ever happened.

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