Blog Posts by Bahiyah Shabazz

  • Chase is Launching a Prepaid Card

    Chase never disappoints with its strategies

    There's no secret that JP Morgan Chase has monopolized the banking industry. There profits are a reflection of keen decision-making and innovative strategies that are precedent for others. However, there are times when certain activities don't work out. In fact, Chase had a loss of $2 billion dollars this year. Surprisingly, the loss will not effect the company…at least it's good to know everyone (Executives) will receive a bonus next year.

    JP Morgan, which has more assets than any other bank in the country, announced Thursday that it has lost an awful lot of money over the past six weeks.

    Now, the loss won't sink the bank. Not even close.

    Net losses are estimated to total $800 million by the end of the quarter, although that number might go up. For context, the bank made $5.4 billion in the first three months of the year alone.

    Under a pilot program, Chase is getting into the prepaid card business.

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  • Tips to Reduce Debt

    If you are facing debt and money issues it only makes sense to be informed on ways to manage your money. Most Americans carry more debt than they should. Why? The old comfort of carrying plastic with no regards of living within your needs and "buy now & pay later" attitude. Too often you will hear many explain the need to purchase an item. The need to spend money often times balloons into uncontrollable payments that far exceeds one's income.

    Money (Photo credit: 401K)

    There is hope at the end of the tunnel when you make the decision to look at your spending habits, manage your existing debt and control your future. Listed are tips to move forward when it comes to your money and reducing debt.

    1. Limit your debt

    • Just as you've read that you should not charge more than 25-30% of your limit when it comes to credit cards the same balance holds true when it comes to your household monthly debt.
    • Monthly debt payments should not be more than 20% of take
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  • Retirement Planning: It Must Be a Lifestyle

    Many investors are caught up with the magical retirement number. When in fact, most lose sight of the lifestyle that one should consider before and during retirement. Financial planning and lifestyle complements one another.


    You're not able to answer and vision the nest egg amount without considering how you are going to live during your retirement stage. The kind of lifestyle you will be able to live depends on the lifestyle you maintain before retirement.

    If you are a saver then you will continue that behavior to have a worry free retirement. If you are a spender then you will also continue that behavior to have a concerned retirement. The difference between the two isn't knowing your magical number. It's knowing how you are going to live before and during retirement.

    Now is the time to envision your future. Yes, many financial experts use the illustration of retiring at a vineyard or vacationing around the world, but if you haven't saved before hand then it

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  • Ways to Stretch Your Tax Refund

    While the majority of Americans receive refunds and many taxpayers look forward to getting that check in the mail, it's sometimes easy to forget that it's your own money to begin with. All you did was overpay the government during the year. - CNN

    Each year consumers are very excited about filing their annual taxes in hopes of receiving the biggest check ever. As previously quoted, the funds are actually yours to utilize. Instead of you managing your own monies, you chose to "donate" more toward your exemptions.

    Why wouldn't you earn more interest on your hard earn money instead of giving it away for someone else to earn? That's exactly what you're doing. When you choose your electives on your W4 form every year, you can indicate the amount of money you want the government to take from your paycheck.

    The money that you receive on or prior to April 15 can earn interest all year around. You can deposit your money in a high interest bearing savings, Roth IRA or pay

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  • Tips for Financial Success

    Personal Wealth Expert, Bahiyah Shabazz, presents tips for financial success.

    1) Indicate clear financial goals when trying to accomplish

    2) Establish financial boundaries

    3) Hold yourself accountable while focusing on your goals

    Bahiyah Shabazz, MBA is one of the nation's leading financial experts on the art of maximizing growth, entrepreneur, personal wealth expert and author of "Finances are linked to emotions: live within your means". Bahiyah Shabazz is also a motivational speaker, columnist and host of Fabulous & Money Savvy Live. Visit Mrs. Shabazz at

  • Plant a Seed, Reap a Harvest

    Women are such nurturing people. Women take care of the household, workplace and community. They are the last on the totem pole for taking care of one's needs. During March Women's Month it's time to discuss how to move forward and empower.

    It's important to know the way you handle one situation is the way you handle many. There is no such possibility as excelling AND failing. You do either one or the other in whatever you deliver. Many women are failing themselves. It's possible to give yourself completely to others while neglecting yourself. When you neglect yourself, you are neglecting those surrounding by you.

    The time has come to plant your self-reliance seed. This seed will nourish your being, finances and dreams. As you come to realize and accept the possibilities, you begin to flourish.

    Begin your journey by taking charge and pampering yourself. Women deserve to be pampered. Once you feel (inner and outer) beauty you become radiant as it is demonstrated and

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  • As We Seek Stability, Gas Prices Won't Be on the List

    As I travel across the midwest, I've noticed that gas prices are slowly going in the wrong direction. Yes, gas prices are increasing. According to the economist, we should expect gas prices to rise above $3.00 in the spring and summer due to the global economy.

    The days have passed when we pull into a gas station, look at the attendant and say those three magical words...fill her up.

    What are my options?

    1. I can carpool.
    2. I can ride a bike.
    3. I can work from ONE location.
    4. I can plan my destinations.

    It seems that we are in a catch 22 due to lack of funds. Vacations are strategically planned because of living within a budget. For those who have two pennies to rub together the details are well developed.

    I suggest any traveling, whether in a plane, train or automobile should consider a budget. What is your bottom line? How much do you plan to travel? Is it more feasible to drive or purchase a ticket? What about spending money upon destination?


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  • Organizational Strategy

    During this time, many people are seeking employment opportunity. The resumes are competitive and so are the wages and benefits.

    Companies are trying to figure out a way to attract and maintain quality candidates that are going to work efficiently while demonstrating profitability.

    Recruit + Retain + Reward = Measurable Success

    Recruit Many entities are seeking opportunity in numerous ways such as job searches, recruiters, and college recruitment. It's also important to get existing employees involved in the search for future employees. Existing personal knows what it takes for the position as well as the qualities the company is looking for. Incorporate a monetary reward for personal to obtain when referring a future candidate. Quality candidates will also consider a position with a sign on bonus, which is indicative of commissions to come.

    Retain Retention is a concern for HR and upper management. People want to feel accepted and part of a company in order to

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  • My First Place

    I was watching a show on one of my favorite network stations. It was amazing the emotional rollercoaster new homebuyers were experiencing while searching for the perfect home.

    One couple had a list of wants and needs. They had a budget in mind and how much home they were able to afford. They couldn't live without the granite countertops, four bedrooms, three baths and numerous cosmetics fixtures.

    The list of ideas went out the door when they stepped into the first place. It was completely opposite of what they "wished" for, but it looked great.

    The emotional purchase of the home was beginning to exude from the souls. Although the real estate agent wasn't pushy, you could see the joy of a quick sale written all over her face.

    Everyone's action was clearly understandable. The process of purchasing a new home is an emotional rollercoaster.

    What have we learned from the previous years in the home market?

    First time homebuyers can take advantage of other's

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  • Does Your Financial Future Look Bleak or Bright in 2010?

    It's the New Year and the water cooler conversations are immersed with old and new resolutions. We are all guilty of promising to lose weight, get out of debt, save more and treat others better.

    Resolutions are wills of determinations. I'm not indicating that anyone has false intentions about their success. I am implying that the implementation of resolutions takes more than just a statement.

    Resolutions are only successful with a plan. The thoughts, behavior and actions must completely change.

    When your ultimate goal is to get out of debt by the end of 2010 and you charge those "to die for" stilettos on January 2, you're not following through with your resolution.

    In order to change from the malicious cycle that you've created, you must first change your behavior.

    Let's repeat….

    I WILL pay off my debt and start to invest in a savings plan.

    I will PAY OFF my debt and start to invest in a savings plan.

    I will pay off my debt and start to

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