Shark Week Rules Can Help You Make Smarter Financial Decisions

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Shark Week is here! The Discovery Channel’s longtime celebrated week of television offers many tips for shark encounters. Much of the advice learned through shark week can be applied to your financial well-being? Say what?

Yes, it’s true. Simple Shark Week rules can be applied to your everyday life, specifically your finances. Many of the tips to prevent beach-goers from experiencing a shark encounter can be easily used to make smarter decisions in general. Consider the following:

  1. Shark Week Tip: Don’t go swimming after dark. This same piece of advice also works when dealing with your money. Financial Tip: Don’t make financial decisions after dark. If you are making a major decision regarding your finances late at night, you might not be in the most alert state of mind. Generally, you are more tired at night and worn out from the stresses of the day. Instead, it’s best to sleep on your thoughts and then make your decision when you are rested and rejuvenated the next morning.
  2. Shark Week Tip: Don’t go swimming alone. Swimming alone and dealing with your finances all by yourself are two choices that aren’t necessarily the best. Financial Tip: Seeking advice on your finances can be very beneficial. It’s good to explore many options when making a major financial decision. There are professionals that are more than happy to guide you on the path to make the best decisions with your money.
  3. Shark Week Tip: Steer clear of murky water. If the water looks grim, it’s probably a good bet it’s not safe. If you receive some type of money offer and it doesn’t quite look legit, it’s likely it would be something unwise to pursue as well. Financial Tip: If you get a “free money” offer in the mail that looks unclear, such as a “sweepstakes” win that you never entered, it’s probably a scam. This type of scam unfortunately affects many people. Avoid this “murky area” and contact your local financial institution if you are not sure what to do with this type of situation.
  4. Shark Week Tip: Stay calm. If you actually see a shark while swimming, the best thing to do is remain calm. Panicking could actually draw more attention to yourself, which could incite an attack. When dealing with your money, it’s best to always stay calm if you notice something wrong. Financial Tip: If you are ever in a situation where you notice suspicious activity on your accounts, the best thing to do is remain calm. Report your concerns and let your financial institution handle the situation. Also, if you are ever worried about your current money circumstances, such as making a payment on time, it’s a good idea to stay calm and contact your financial institution for advice on how to handle this issue.
  5. Shark Week Tip: Avoid swimming in deep water. Swimming in deep water increases the odds of a shark encounter. When dealing with your finances, it’s best to not get in too deep as well. Financial Tip: If you find yourself experiencing a financial problem, such as credit card debt, it is important to not get in over your head. For example, it could be bad and result in poor credit if you try to pay off one credit card with another. If you find yourself confused on how to handle a financial decision, don’t let the stress engulf you. Contact your financial institution for help before things get out of hand.

While it seems odd to compare Shark Week advice with financial tips, as you can see the lessons are often quite similar. The experts know how to handle shark encounters, just like the professionals at financial institutions, including Ohio Valley Bank, can help you make the best decisions regarding your financial well-being.

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If you didn’t get enough on the shark-side of things from us, be sure to check out the Discovery Channel’s 27th Anniversary of Shark Week, running from Sunday, Aug. 10 through Saturday, Aug. 16. For a full Shark Week line-up, check out www.discovery.com. For information on financial services at Ohio Valley Bank, visit www.ovbc.com.

About Ohio Valley Bank
Ohio Valley Bank, established in 1872, currently serves personal and business customers from 15 offices throughout Ohio and West Virginia. The Bank's headquarters are located at 420 Third Avenue in historic Gallipolis, Ohio. The company has never changed names, making it one of the oldest banks in the state. Member FDIC | Equal Housing Lender

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