What to Do if You've Been Scammed Into Paying Someone Through Venmo

Although Venmo was designed to make transferring money between friends simple and convenient, it’s not always so simple. In some situations, scammers pose as friends or family, hoping to steal money from unsuspecting users.

These scams make it even more important to be cautious and aware when using the app. The following are some steps you can take if you’ve been scammed by someone through Venmo:

Block the Scammer

If you’ve been scammed and have sent money through Venmo, first contact your bank immediately. Tell them what happened and see if they can reverse any charges that have already taken place. 

If they can’t reverse those charges, they may be able to help you get an extension on your payment plan so you can work something out with your creditor.

When speaking to a representative from the bank, they may also let you know how many days/weeks/months it might take for a refund from Venmo (if one is available). The last thing you want is for someone else to use that money before it gets returned to you.

Report it as Fraud

If you think you've been scammed, report it as fraud. There are a few things to know about reporting scams on your account: In most cases, you should be able to find options for reporting fraud in your settings. Within minutes of reporting your issue, you should receive an email stating that the app has received your request.

If your account is still active after you report an issue with a transaction as fraud, that likely means a representative from Venmo hasn’t determined that there was any fraudulent activity involved. Keep reporting the fraudulent activity until you get a response.

Tell Your Bank and Request a Chargeback

In many cases, you can request a chargeback through your bank or credit card issuer. A chargeback will remove any money taken from your account and refund it into your bank account. 

This is a hassle, though, so you’ll want to try everything else first. Keep in mind that some chargebacks can take weeks to resolve so keep checking your account until the money is returned. 

As you wait, consider reaching out to an attorney from Heidarpour Law Firm to help you recover your funds after fraud.

Change Your Password or Deactivate Your Account

If you think someone has gained access to your account, you should change your password immediately or deactivate your account. 

Changing your password will ensure that no one can make any additional transactions from your account (or transfer funds) for 14 days. To do so, go back into Settings > Security and select Deactivate Account at the bottom of that page.

Make sure your money is safe when using your Venmo account. Keep this information in mind as you take steps to safeguard your finances in the future.

Figuring Out a Monthly Budget? Car Expenses to Account For

Manage your money well, and you’ll wonder how you ever lived without a budget. Your spending will dictate how much money you have leftover for emergencies, savings, and discretionary fun.

A monthly budget is a great way to help you stay on track and focused on your financial goals. It’s an essential tool for anyone who wants to keep tabs on their money and make smart financial decisions. 

Following a budget will help you stay on track and help you feel accountable for your spending. It’ll also help you avoid making money-eating mistakes and set realistic spending limits. 

This article will go into depth about car expenses to make sure you include them in your monthly budget.

Petrol and Diesel

The average person will spend $2,783 on petrol and diesel each year. This equates to $8.67 per gallon of petrol and $4.39 per liter of diesel. 

However, this doesn’t consider taxes, fees, or additional costs associated with operating a car. If you’re a higher-end driver, you may spend even more. To put this in context, the average car in the U.S. costs $30,000. 

That means, on average, you’re spending about $4,000 more per year on petrol and diesel compared to the price in your own country.

Insurance and Registration

The average person will spend $1,919 on car insurance every month. This equates to $8.62 per gallon of petrol and $3.25 per liter of diesel. What’s more, this exceeds the price of car maintenance by far. 

You could easily pay $1,000 or more for the privilege of driving your car. If you need to take someone to court, their car insurance will likely cost you more than your monthly budget.

Brake, Tire, and Servicing Expenses

These are the majority of the costs associated with maintaining a car. Break these down, and you’ve still got yourself a healthy monthly budget. 

For example: brakes cost $84, tires require $96, tire recommended $40, servicing fees $36, tire replacements $36, brake maintenance $318, etc.

Now that you’ve got a better understanding of how your monthly budget works, it’s time to take action. Make a plan and stick to it. Make small adjustments each month, and you’ll see results. 

There are many ways to go about this. You could look at your monthly expenses as a percentage of your income or look at them as a dollar amount. Whatever way you look at it, you can still make it work.

What Is a Raw Land Loan and What Is It Used For?

Raw land is undeveloped land in its natural state; it's real estate that has no buildings, farm fields, or utilities. Raw land may not even have an access road.

Buying raw land presents the buyer with the possibility to do what they like, as long as it falls within zoning regulations. Raw land has also become popular as an investment. While buying raw land is an attractive option for some people, financing the purchase can sometimes be difficult.

Most Lenders Want Collateral

Since there are no structures or farm fields for the bank to hold as collateral, banks are often reluctant to finance raw land. If the buyer falls behind on their payments, the lender wants to be able to foreclose on a property they can quickly sell.

While raw land is attractive to some people, most people want to develop real estate. Most people do not want to deal with building a road, digging a well, installing a septic tank, and building a home from scratch. 

Also, that home will need an off-grid solar system and maybe even a rainwater harvesting system. Raw land is not something a bank can turn around and sell quickly.

Raw Land Loans

Fortunately, raw land loans are available. Raw land loans are generally obtained by developers who want to build an industrial park or a subdivision. Some companies, like Raw Land Lenders, realize that this is typically why someone wants one of these types of loans. However, it's also possible for individuals to get a raw land loan.

Typically, you’ll need to present a detailed plan of what you want to do with the land, such as build a home, factory, or start a ranch. The terms of the loan can vary depending on how you plan to use the raw land. 

Also, raw land loans typically have very short terms of just two to five years, often ending in a balloon payment. The closer the land is to being developed, the easier it will be to get a loan. 

Also, you may get better interest rates, better terms, and a lower down payment. There are lenders that specialize in raw land loans, and seller financing is also common.

Know Before You Buy

You may assume that buying raw land means that you can do whatever you want with it; that is sometimes true, but most of the time it's not. Before you buy raw land, check with the county for zoning and building codes. It may be zoned for a specific purpose, and there may be a time limit in which to begin building.

Raw land is often very affordable and gives you the chance to start fresh with a piece of property. It can also be a good investment as land prices continue to rise.

Methods for Obtaining Funding for Your Business

As a business owner, you’re probably well aware of the financial challenges you’ll face when it comes time to start growing your business. That said, there are a few options available when it comes to how you can fund your business and make it a success.

Here are some of the most well-known options for obtaining funding for your business, especially if you’re trying to get things off the ground.

Business Loans

Business loans can be the boost you need to get things off the ground, so long as you meet the requirements set forth by the lender. 

For instance, you may be able to obtain a business loan from a bank or other financial institution such as Pop Funding Solutions if you have good credit ratings and enough collateral to secure the funding. 

The interest rate on a business loan is typically higher than what you would find on a personal loan, but it may be worth the extra cost if you need to acquire more business-related equipment or hire new employees.

Bootstrapping

Bootstrapping is a strategy that involves using existing assets, such as cash reserves and receivables, to fund the startup of a business. 

The goal of bootstrapping is to minimize or completely avoid borrowing money. However, this means that you’ll be missing out on the benefits offered by loans, such as lower interest rates and easier access to funding. 

To bootstrap your business, you must have some assets which you can use to generate revenue.

Venture Capital

Venture capital is a type of funding typically provided to startup companies by private investors. Venture capital is often used to help fund the acquisition of new equipment, inventory, or personnel for a business. 

Venture capitalists are also interested in companies poised for rapid growth and expansion. To receive this type of funding, you’ll need to meet certain criteria, such as having excellent credit ratings and strong business history.

Crowdfunding

Crowdfunding is a form of funding usually provided by the public at large. It’s also sometimes referred to as crowd investing. 

Crowdfunding allows individuals and businesses to raise money by soliciting contributions from a large group of people who might be interested in supporting the business or project. Thousands of companies have been funded through crowdfunding platforms like 

Kickstarter and Indiegogo

As you can see, there are many different ways to raise money. It’s important to understand what type of funding you need and how you can find it. 

The best way to find the right funding is to research and see what options are available. You may consider various sources such as family and friends, business partners, investors, or government agencies.

8 Things You Can Do Today to Stop Stressing About Money

According to the APA (American Psychological Association), 72% of adults suffer from financial stress. Being anxious about finances is absolutely natural.

You will be thinking about it whether you have a lot of money or not. The stress could be related to rent, loans, savings, taxes, and much more. The financial stress makes you reconsider everything from crucial expenditures to occasional splurges. 

Whether you decide to spend money on groceries or decide to enjoy an exciting day in the escape room, it all leads to anxiety and stress. as well.

Monetary stress has too many downsides like poor sleeping habits, stress ulcers, decreased immunity, and depression, to name a few. Although advice cannot remove all the stress about money, some careful and quick strategies might come in handy while you are stressing about money.

1. Start a money journal

The first and foremost thing to do is to keep a journal. Any financial planning must start with a journal. According to a study, journaling your issues before getting into budget planning reduces stress by a lot. So, if you are stressed about your problems, put them down in words first. This will give you a clear idea of what your concerns are.

Next, go through the concerns one by one and categorize them based on priorities. For example, is your immediate concern paying off loans or balancing your credit score? Are you worried about emergency funds or retirement plans?? Note these concerns down from most important to least.




After categorizing them, make another list to break down the steps you need to handle the money accordingly. Finally, you can get down to business and start following your carefully laid down steps.

2. Plan a Budget

Planning a budget will reduce a lot of stress about money. This is also connected to journaling. Planning a budget will help sort your finances well. It will help you reanalyze a lot of expenses you make.

If you discover you are spending more than you earn or spending unnecessarily on something, budget planning is going to be your friend. Starting a budget will help you in tracking all those expenses and help reduce certain expenses so that you can save more or pay off those loans.

Start by fixing an ideal budget based on your earnings. Categorize your necessary and luxury expenses. Then you can carefully increase or decrease your input into different categories.

The best way to go is to download an app that keeps track of your budget and the expense you allotted to each category. Most of these apps will provide you with regular reminders and emails in case you fail to follow the budget.

3. Examine Your Accounts

When you are planning your budget, you must re-evaluate your expenses. And how to do that?? Look into your previous transactions. Sort them out into categories of necessity or luxury expenses. 

Monthly or yearly expenses should be sorted as well. You will be surprised by the number of people paying for subscriptions they forgot to cancel. So, take a look at your bank statements and transaction details from the last few months at least. 

Cancel the memberships or subscriptions you do not want anymore. Ask for refunds if some payments were made without confirmation from your side. 

Cancel any credit cards you were roped into getting. Be firm in your position and cancel all unnecessary expenses weighing you down. Confirm everything and keep all the receipts.

4. Close Old Accounts

Handling multiple accounts can be very confusing and lead to stress. So, closing an inactive bank account would be a wise idea. Having multiple accounts may also lead to an overdrawn account if you forget about it. 

An inactive account may also fall prey to fraudulent activities. So close any old account you do not use regularly or one you might not need again. Another task would be to set all your regular bills to autopay so that you do not have to worry about overdue payments.

5. Lower your bills

Try lowering some of your bills if you are too stressed about money. It will help reduce the immediate burden. According to Emily Guy Birken, author of End Financial Stress Now (2017), “Internet and cable service is an easy place to start because they’re used to be negotiated with,” so try lowering your internet or cable bill first. 

Try negotiating for a lower deposit or monthly rent if you are lucky enough to find an understanding landlord. If you have pending medical bills or similar social undertakings, try contacting the respective billing departments. If you are absolutely unable to pay certain bills, contact social welfare agencies.

6. Adjust Tax Withholdings

According to Emily Guy Birken, adjusting tax Withholdings at work will be one of the fastest ways of adding more money to your budget. Change your tax withholding status to a lower refund (if you do not already) to increase your regular paycheck.

For this, you need to talk to your organization’s HR department. They will be able to guide you through this process with additional help from the IRS (Tax withholding Estimator) calculator. The IRS calculator would be able to specify the changes you will need to make. Depending on your employer, the changes will start reflecting from the next paycheck itself.

7. Handle Your Credit Card Service

Contact your credit card provider for details about your credit score. A good credit score will benefit you while applying for loans or while managing old payments. Pay off overdue bills and look into the previous transactions as well. If you are in a bind, call your credit card service to ask for a lower interest rate. If you are a dependable customer (why do you need a good credit score, you see), they might consider such a thing.

A low-interest rate will inevitably prevent more interest from accumulating. It will help you pay off the balances faster and might even increase investment when you are financially more secure. This is sure to reduce some of your stress about money.

8. Manage Loan Payments

Student loans and mortgages are crippling millions and preventing them from gaining financial stability. If you are under federal loan payment, you can ask for a lower loan payment plan. If it is a student loan or mortgage plan, you can consider the IDR or Income-Driven Repayment plan. The Debt-to-Income Ratio takes into consideration the IDR and helps you pay your loans accordingly. Although, mortgages and student loans may have different regulations.

This will make a huge difference in your finances, although the repayment time period gets extended. It will act as a breather if you are stressing too much about money. But if you plan your budget properly and pay your taxes on time, it will not be a burden.

If you are planning on repaying some other loans quickly, you can also try the Debt Avalanche Method. This method basically means using leftover money (after monthly expenses) to pay off loans at a high-interest rate. This will decrease the overall time period required to pay off the loans. But this is a risky method and should not be tried without expert advice.

All of these are advice aimed to decrease your stress about money. You can start practicing some of these methods from today itself. But at the end of the day, do seek professional advice and plan for a better future.

Author Bio: Charlotte Lin is a content creator at escaperoom.com. She’s a passionate young woman, mother to an amazing nine-year-old, and an avid reader. Over the years, writing has helped her explore and understand the world as well as her own self. She loves to travel, meet new people, and spend quality time with her daughter. You can find her on LinkedIn.

Credit Unions vs. Banks and Which Is Best for Getting The Most Out Of Your Money

In years past when you wanted to open a checking or savings account, obtain financing for a car or other big purchase, or were interested in making your money work for you as much as possible, you likely did like many other people and relied on a bank.

While there's nothing wrong with this, many people are now taking a closer look at credit unions as an alternative. Are there major differences between the two? If you're wondering which will help you get the most out of your money, here's what you need to know.

Interest Rates

If you do business with a credit union, chances are it will offer you lower interest rates on all types of loans, and will also provide you with higher interest rates on savings and checking accounts. 

In many cases, the average difference in interest rates between the two can be as much as two percentage points, meaning you could save thousands of dollars in interest costs on a loan.

Services and Conveniences

If you want your financial transactions to be extremely convenient and have access to a wide array of services, banks tend to get the nod in these areas over most credit unions. 

As banking has moved online, even the smallest banks tend to offer their customers mobile apps that allow most transactions to be done through a smartphone.

Insurance Protection

Just as banks are insured by the FDIC, credit unions such as the Credit Union of Denver also protect the money of their customers by having insurance protection from the National Credit Union Administration. 

Like the FDIC, the NCUA insures deposits up to $250,000, meaning you can have peace of mind no matter where you are keeping your money.

Educational Resources

When you visit a bank, you probably are not going to find many resources available to you regarding how to learn more about making your money grow. However, credit unions do this and much more. 

In fact, most credit unions are well-known for offering workshops and seminars on investing, how to manage credit cards, how to stay protected from identity theft, and other important topics. 

Also, most credit union customers tend to feel that credit unions offer more of a personal touch than traditional banks.

Since credit unions and banks offer various advantages in certain areas, the choice of which one to use comes down to personal preference. 

However, if you like better interest rates, a personal touch when doing business, and being educated about your finances, a credit union may be worth exploring.