April is once again Financial Capability Month in Minnesota and that means an annual opportunity to evaluate your financial life. Where to start? The Minnesota Financial Literacy Work Group is here to help – for each day in April we will be sharing our tips to guide you along the way. Follow along on Twitter: #FinCapMN
Here at the Department of Commerce we hear from Minnesotans who have been approached by an individual or business (called “Finders”) claiming that there is unclaimed property in their name and they can help get the money back. Savvy consumers are understandably wary and might have questions about the legitimacy of this claim.
Smart investing isn’t a matter of luck. Before you consider purchasing bullion coins – defined as any coin containing more than one percent by weight of silver, gold, platinum, or other precious metal - the Department of Commerce encourages consumers to treat a bullion purchase like any other investment and do your homework. Due diligence will pay off - our list of questions to consider can help you get started.
With spring around the corner, it is an important to be aware that a standard homeowner’s policy does not include coverage for flood-related damages. In order to qualify for flood insurance, a your home or business must be in a community that participates in the National Flood Insurance Program (NFIP). Your local city government office should be able to provide you with this information, or you can look up your community at FEMA’s “Community Status Book”.
This year marks the 130th anniversary of the establishment of the Weights and Measures Division of the Commerce Department. Weights and Measures Week is celebrated on March 1-7 each year to memorialize the institution of the first United States weights and measures law.
Each year, the Minnesota Department of Commerce receives a number of questions related to flexible premium universal life insurance policies and it is important to understand how these policies work.
Scam artists are experts on separating you from your money. They use a variety of methods including the internet, phone calls, and postal mail to trick people of all ages and backgrounds into sending money or giving out personal information.
National Consumer Protection Week, taking place during March 1-7, encourages consumers to take full advantage of their rights and make better-informed decisions. During NCPW, the Commerce Sense blog will help you navigate financial matters and spot the red flags of fraud.
Yesterday, the Pew Charitable Trust released the results of a survey that found a majority of Americans are not prepared for financial emergencies and expressed worry about their financial situation.
It can be hard to put aside money for savings, but one method to make saving easier is to always put away "found" money. That is, any unexpected income that comes your way should go directly into savings and not spending. No matter how big or small the windfall, automatically saving money from tax refunds, for example, can help to start building wealth.