Celebrating Women in Finance
All March long, we celebrate Women’s History Month, which highlights the contributions made by women in American history. While finance is often considered a male-dominated industry, women have been managing their own finances and starting businesses for well over a century.
Below, we’ve put together a list of some of the most important women in financial history, including the history of Georgia’s Own. Check out these six financial trailblazers:
Eloise Woods, former president and CEO of Georgia’s Own (formerly Georgia Telco)
As we celebrate our 90th Anniversary, we’d be remiss not to highlight Eloise Woods, our former president and CEO. In 1960, Woods was the first woman named CEO of a Georgia credit union, inspiring women and helping to clear a path for future generations. In 1977, Woods achieved one of her greatest accomplishments, when she was appointed by President Carter as Chairperson of the National Credit Union Administration (NCUA) Advisory Board, the independent federal agency that regulates federal credit unions. Under her leadership, our asset size grew to $700 million, making Georgia Telco the third largest credit union in the state when Eloise retired in 1999. Remembered as a trailblazer in both the financial industry and the history of Georgia’s Own, she was known for her forward-thinking vision, her support and mentorship of women in business, and her signature hairstyle. When she retired from Georgia’s Own after 52 years of service, the next woman on our list was named as her successor.
Charlotte Ayers, former president and CEO of Georgia’s Own
After taking on the role of president and CEO from Woods, one might think the shoes were impossibly big to fill. But Ayers took the Credit Union to new heights during her tenure, including overseeing a major rebrand from Georgia Telco to Georgia’s Own. Moreover, the Credit Union reached $1.5 billion in assets and doubled membership before her retirement after 41 years of service—11 of which she served as president. Charlotte was a trailblazer in the financial service industry during her administration and her legacy remains an integral part of our history.
Maggie Lena Walker, first woman bank president
In 1903, Maggie Lena Walker became the first African American woman to charter a bank when she chartered the St. Luke’s Penny Savings Bank, aimed at promoting savings and homeownership, specifically among women and racial minorities. She later became the first African American woman to serve as bank president after the bank acquired two other institutions. As a leader, Walker made great strides towards her vision to make real-life improvements in lives of other African Americans, and in particular focused on homeownership—by 1920, more than 600 people were able to buy homes thanks to St. Luke’s.
Janet Yellen, former treasury secretary of the United States
In 2021, Janet Yellen made history as the 78th treasury secretary of the United States, but the first woman to ever hold the position. Before that, she served as the chair of the Federal Reserve, the chair of the White House Council of Economic Advisers (CEA), and is the first person—man or woman—to have led all three institutions. Formally trained as an economist, she took office after close to 50 years in academia and public service, focused primarily on the analysis of the mechanisms of unemployment and labor markets, monetary and fiscal policies, and international trade. As CEA Chair, she oversaw research on the gender pay divide and reasons why women earned substantially less than men. At the Federal Reserve, her academic insight was particularly influential in 1996, when they resisted pressure to raise interest rates as unemployment dropped based on academic research. Yellen is considered one of the most successful Federal Reserve chairs, and she finished her tenure there with the lowest final unemployment rate of any chair since William McChesney Martin in 1970.
Madam C. J. Walker, first Black woman millionaire in America
Born into poverty, Madam C.J. Walker used her skills to become one of the wealthiest African American women of her time. After moving to Denver, Walker launched her own line of hair products and straighteners for Black women, starting with an investment of one dollar. She grew that dollar, becoming known as the first Black woman millionaire, as well as an entrepreneur, philanthropist, and activist, using her position and wealth to advance equality and her community. Walker was a proponent of Black women’s economic independence and opened training programs for her national network of licensed sales agents. Through her business, Walker employed 40,000 Black women and men across the U.S., Central America, and the Caribbean.
Rosemary McFadden, first woman President of any stock or futures exchange
After beginning her career as a staff attorney, Rosemary McFadden quickly rose through the ranks and was elected President of New York Mercantile Exchange (NYMEX) in 1984, becoming the first woman president of any stock or futures exchange in the United States. Under her leadership, NYMEX became the world’s largest energy exchange, expanded its offices to Asia and Europe, and its crude oil contract set the standard for spot and futures trading.
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While we celebrate Women’s History all month long, we also celebrate International Women’s Day each year on March 8th. This year’s theme is Inspire Inclusion—because when women are inspired to be included, a sense of belonging, relevance, and empowerment blossoms. We hope this article inspires you, and in particular, continues Eloise Wood’s goal to inspire women in business. Do you have a woman in business you admire? Share them in the comments below!
Supporting Black-owned small businesses in Georgia
February marks Black History Month, a time to reflect on and highlight the contributions Black Americans have added to the country and society as a whole. One of the best ways to celebrate is by using your spending power to support Black-owned businesses. When small businesses flourish, so do their communities.
Just because February is ending doesn’t mean the shopping has to. Here, we’ve listed some of our favorite small, Black-owned businesses across Georgia. Whether you’re looking for stylish sneakers, fabulous food, or a soothing spa, we’ve got you covered! Check out these 21 Black-owned shops and restaurants across Georgia that you can start supporting today.
Boutiques + Markets
Ashford Tea Company – Savannah
The Ashford Tea Company is a premium tea purveyor, taste room, studio, shop, and lounge. They’re dedicated to providing customers and clients with the highest quality teas and tisanes from around the world. With a huge selection of high-quality teas, Ashford Tea can help you find the perfect blend for your taste!
Hall of Sneaks – Savannah
Founded and owned by Whitney Hall, Hall of Sneaks is the place to go for the newest and most exclusive sneakers. Motivated by her love of sneakers (her first big purchase was a pair of Air Jordan Doernbecher IV!), this store provides high-quality customer service along with quality style.
Hype 24/7 – Atlanta & Snellville
Take your streetwear to the next level at Hype24/7. Specializing in the coolest sneakers and streetwear, Hype 24/7 provides a huge selection of premium brands like Jordan, BAPE, Supreme, and more. Looking to sell or trade some of your extra pairs? They’ve got you covered!
Nourish Botanica – Atlanta
Recently celebrating their two-year anniversary, Nourish Botanica is a greenhouse offering fresh flower and plants. Their café, open during the weekend, serves up floral teas and coffee, plus pastries and light bites. You’ll also want to check out their workshops, like floral arrangement and plant repotting 101 for tips and tricks.
A Pot to Plant In – Smyrna
Another fantastic plant shop, A Pot to Plant In offers a ton of options for whatever type of green thumb you may (or may not) have. They also offer in-home plant consultations, as well as plant maintenance and styling to help you get the look you want with the right plants for your environment. Heading out of town? They can also plant sit!
Vizorre – Albany
Step up your style! This is the place to go for fashion. Through their carefully handpicked collections, and exceptional customer service, Vizorre aims to create an inclusive space where women can express their unique style, while fostering a sense of community. Vizorre also promotes sustainable practices and supports local artisans, so you can look good and feel good about it.
Restaurants
The Brunch House of Augusta – Augusta
Love to brunch? Here’s the perfect spot for you! Voted as one of Yelp’s top 100 Restaurants in the U.S. in 2021 and 2022, you’ll be craving their delicious southern-infused breakfast foods all year long.
The Cereal Lab – Atlanta
Breakfast for dessert? Yes, please! With a mission to spark joy and nostalgia while bringing friends and community together, The Cereal Lab elevates the breakfast cereal experience and turns it into the dessert of your dreams. Enjoy hand-spun milkshakes, premium ice cream, and delicious desserts alongside excellent customer service.
Geneva’s Famous Chicken and Cornbread – Savannah
While currently closed for expansion, Geneva’s is (obviously!) known for their amazing chicken and cornbread. So much so, people online have been begging them to set up shop in their parking lot. But don’t fret—they’re expected to announce their re-opening date so stay tuned!
The Grey – Savannah
Go back in time at The Grey! Occupying a 1938 art deco Greyhound bus terminal, this restaurant and bar offers a truly unique dining experience. Chef Mashama Bailey cooks up her favorite Port City Southern food, serving dishes that are familiar yet elevated. With a penchant for regional produce, seafood, and meats, The Grey is a favorite among both locals and visitors.
The Grille House – Albany
One of the newest restaurants in Albany, the Grille House is a perfect local sports bar. Located by the Flint River, enjoy barbecue ribs and chicken, as well as fish, hamburgers, and various sides. Be sure to stop by for bingo on Wednesdays!
Patty’s Kitchen – Atlanta
Hope you’re hungry! Serving up deliciousness like lobster grilled cheese and Philly cheesesteak egg rolls, there’s something for everyone to enjoy. Don’t forget to try their red velvet cake for dessert! Have a big event coming? Patty’s Kitchen caters, too!
Sweet Luncheonette – St. Marys
Here comes the cake! If wedded bliss is in your future, you’ll want to check out Sweet Luncheonette. This micro bakery, specializing in wedding cakes, creates decadent cakes and desserts customized to fit your style and your budget. A perfect match!
The Vibrary – Stone Mountain
You don’t want to miss these vibes. Located in the heart of Stone Mountain Village, the Vibrary is an intimate space perfect for unwinding with friends or relaxing on your own with a great book. Need a new read? They have books available for purchase to enjoy alongside your charcuterie.
Wandaful Things – Kingsland
Every day isn’t perfect, but it may come pretty close if it’s filled with Wandaful Things! Fresh bread, delicious food and desserts can all be found at this awesome bistro.
Other
Beauty Andda Beats – Kingsland
Owner and makeup artist Sharell knows that when you look good, you feel even better. Offering a variety of makeup styles, and even 1-on-1 classes, Beauty Andda Beats is here to get you ready for whatever the occasion.
Bike Bike Baby – Augusta
Get out and explore Augusta with Bike Bike Baby! Take a tour of the city by day and explore the African American history of the city, or pump up the party with a night ride. Whether you just want to explore or are ready to celebrate an event, Bike Bike Baby is the perfect way to see Augusta. Be sure to sign up for their next event, the St. Patrick’s night leisure ride!
Celestial Spa – Atlanta
Kick back and relax at Celestial Spa. Feeling stressed? Try one of their amazing massages, or get glowy with one of their facials. Voted “Best Day Spa” in South Fulton, and recognized by Essence Magazine as one of 15 Black-owned spas to visit, you’re sure to leave this beautiful establishment feeling refreshed.
James Brown Family Historical Tour – Augusta
Take a comprehensive tour of James Brown sites around Augusta, led by a James Brown Family member. Available every Saturday, this thorough tour covers all of James Brown’s notable sites in Augusta. You’ll also want to stop by the Augusta Museum of History (admission included with your tour ticket), where the largest collection of James Brown memorabilia is on permanent exhibition. Reservations must be made at least 24 hours in advance.
Le Pouf Art – Savannah
Liven up your living room with unique and vibrant art from Le Pouf Art. Owned by portrait artist Tafy LaPlanche, Le Pouf is a gorgeous art gallery that houses original pieces along with limited edition prints. You can also schedule private studio visits and showings by appointment, but walk-ins to view the space and see the artist at work are always encouraged!
Supernatural Creations – Albany
Calling all crystal lovers, here’s a store for you. Whether you’re looking for spiritual healing or just want to add to your ambiance, Supernatural Creations carries everything from sage and Palo Santo to healing stones and crystals. Plus, their homemade wood-wick candles are the perfect accompaniment.
Don’t see your preferred place? We want to hear what it is! Comment below with your favorite local Black-owned business!
Guide to financial independence part 1: financial terms and jargon
Whether you’re 14 or 42, you’re likely thinking about your financial independence. While this may mean freedom from your parents or from the droll of a 9-to-5, the first step is to be financially literate. As Investopedia explains, financial literacy is the ability to understand and effectively use a variety of financial skills, like budgeting and investing.
Before you can conquer those steps, you may need some help understanding financial jargon. Financial independence may seem daunting when you don’t totally understand the terms, which is why we’ve created this guide to help explain some of the most common terms you’ll find when dealing with your finances.
Most common financial terms:
APR: Stands for Annual Percentage Rate; the cost of borrowing money on a yearly basis, expressed as a percentage rate. You’ll encounter APR when looking at credit cards or when looking at loan rates, like auto loans or mortgages.
APY: Stands for Annual Percentage Yield; the interest rate earned on an investment in one year. You’ll see APY when looking at accounts that earn interest, like a savings account or CD.
Asset: Any item with monetary value, such as stock or real estate. Assets can also include things like your retirement accounts, jewelry, and art.
Beneficiary: The person or organization named to receive proceeds or benefits. For example, you may name your spouse or parents as the beneficiary of your life insurance.
Credit: Borrowing money, or the ability to borrow money, to buy something with the intention of repaying the money later. This could be through a credit card or through a loan.
Credit Score: An estimate of how likely you are to pay a loan back on time based on information from your credit reports. This score is calculated using five factors: your payment history, amount owed, new credit, length of credit history, and your credit mix.
Debt: Any money you owe another person or a business.
Depreciation: A decrease in the value of an asset.
Equity: This is the amount of money that belongs to the individual owners of a business after all assets and liabilities have been accounted for. Additionally, you will hear the term equity regarding housing. Home equity is your property’s current market value, excluding any liens that are attached to that property, and can be used to determine things like how much you can borrow when taking out a home equity line of credit (HELOC).
Gross income: The sum of all your earnings, like wages and salaries, before taxes and other deductions like Social Security are taken out.
Income: Money earned or received. Income can come from your job, such as wages, salaries, tips, and commissions, or from other sources like dividends on investments, tax refunds, monetary gifts, and inheritances.
Inflation: When you have to pay more for the same goods and services. Typically, the prices of goods and services increase over time, while purchasing power of money decreases.
Interest: An extra fee charged for the ability to borrow money. A bank or credit union may also pay you interest if you deposit money in certain types of accounts, like a CD.
Compound Interest: Interest that is earned on the amount of money you deposited, plus any interest you’ve accumulated over time. Accounts like CDs, high-yield savings accounts, and money market accounts earn compound interest.
Interest rate: The percentage of a sum borrowed that is charged by a lender or merchant for letting you use its money. Interest rates differ from APR in that APR is a measure of the interest rate plus the additional fees charged with the loan.
Liabilities: Something that is a disadvantage, money owed, or a debt or obligation according to law. For example, if you have student loan debt, car loans, or credit card debt, that would be considered a liability.
Liquidity: The measure of your ability to access your money, or how quickly your assets can be converted into cash. Cash, of course, is the most liquid, while assets like real estate or land are much less liquid due to the time it takes to sell.
Net Income: Amount of money you receive in your paycheck after taxes and other deductions are taken out; also called your take-home pay.
Net Worth: You can calculate net worth by subtracting what you owe (your liabilities) from what you own (your assets). The remaining number can help you determine the overall state of your financial health.
Principal: The core amount you borrow or contribute before interest or returns kick in. In lending, principal is the initial amount you borrow, like the full price of a new car. You promise to repay this amount, plus interest. In investing, it’s the amount of money you put in with the expectation of growing over time.
Return: How much money is made or lost on an investment. Your rate of return is the same number, expressed as a percentage.
Key Takeaways:
- Financial literacy is your ability to understand and use financial skills, like budgeting or investing.
- The best way to become financially literate is to start by understanding the most common financial terms.
It’s important to note, this list isn’t totally comprehensive but compiles a list of terms you’re most likely to deal with, so you can take on your financial freedom with ease. Don’t see a definition you were expecting? Add it in the comments below!
Tax time: What’s new for tax season 2024
Tax season is officially underway! Whether you file yourself or hand things off to an accountant, there are a few changes to be aware of when preparing to file your return—especially if this is your first time filing. The deadline to file is April 15th, which will be here soon. We’ve put together this list to help you file your taxes with confidence, even if you wait until April! Here’s what to know about filing your 2023 tax return:
New in 2024
Enhanced child tax credit
Congress is currently considering . If approved, this legislation would expand the popular tax credit and allow more families across the United States to qualify for this benefit—and receive more money on their tax refund. While this is likely to be a 2024 tax year change, some lawmakers are pushing to have the legislation passed and applied retroactively to 2023 tax returns. But don’t wait on this to file your tax return—the sooner, the better. You’ll be notified by the IRS if there’s a change that affects your return.
IRS Online Account enhancements
Exciting news on the digital front! If you have a Social Security number or an Individual Taxpayer Identification Number (ITIN), you can now easily access the information needed to file your return. This can be helpful when filing yourself, allowing you to see key information from your most recently filed tax return, including adjusted gross income, without having to dig through your files. You can also set up and manage payment plans, and even cancel scheduled payments. Visit irs.gov/payments/your-online-account to access your records.
How to stay ahead
Understand energy-related credits
Last year, new tax credits were introduced for those with electric vehicles and energy-related enhancements to houses like solar panels. Review those changes to see if you qualify for these expanded credits and make sure you submit all appropriate forms.
Gather 2023 tax documents
The end of January means an influx of tax forms in the mail or your email inbox. Your employer will send you a W-2, which reports how much you were paid, the amount of taxes withheld, and what you contributed to your company’s retirement plan (if they have one available). You’ll receive a W-2 from each employer if you work multiple jobs.
You’ll receive a 1098 form if you have a mortgage, which shows the amount of interest you paid on your home loan (which is usually deductible). If you paid student loan interest, you’ll get a 1098-E. Form 1098-T reports any tuition payments made.
1099 forms report payments from sources that aren’t your employer. There are several types, but the most common are 1099-DIV, 1099-INT, 1099-MISC, 1099-NEC, and 1099-K. 1099-DIV is used by banks or other financial institutions to report any dividends you may have received. Those dividends are also considered interest, which is reflected on Form 1099-INT. You’ll receive a 1099-INT if you were paid more than $10 in interest.
1099-MISC reports any miscellaneous income, like prizes or awards. 1099-NEC reports nonemployee compensation and is common for freelancers, people who are self-employed, or anyone who has a side gig.
A 1099-K is issued to anyone who received $20,000 or more in business income or payments for products and services from third-party payment networks, like Venmo or Cash App.
You’ll also need Form 1095 if you have health insurance through the Marketplace.
Having all of your necessary tax documents together before filing will help you avoid errors and potential processing delays.
Get refunds faster with direct deposit
Filing electronically and choosing direct deposit is the quickest way to get your tax refund. It’s faster than having a paper check mailed to you and avoids any chance of your refund check being lost, stolen, or sent back to the IRS as undeliverable.
Key takeaways
- Be aware of possible CTC changes
- Access your previous year’s tax return and other important documents in your IRS Online Account
- Have your tax documents prepared ahead of time to help maximize your refund and avoid errors or potential processing delays
Remember—if your adjusted gross income (AGI) is less than $79,000 annually, you qualify to file your return for free using the IRS’s Free File program.
The Where’s My Refund tool allows you to track when you’ll receive your refund after your return is accepted by the IRS. April 15th will be here before you know it, so allow yourself plenty of time to file to ensure there are no errors. Keep these tips in mind, and tax season will be a breeze.
How to set financial goals
New year, new you! Every January, people follow the same pattern of setting resolutions—usually to lose a few pounds and save a few dollars—and by the second or third week, those dreams have already been dashed. Sound familiar?
What if this year really was different? Maybe this “new you” would resolve to learn HOW to set reasonable financial goals, instead of randomly picking an amount to save. The biggest issue with resolutions is they often seem so grand in theory but harder to execute or stick to long-term. This year, we’re here to help you better understand how you should be setting your goals, so you can continue meeting them month after month.
It’s important to remember that financial goals are always ongoing. You may have a short-term to-do list, like saving for a vacation or building your emergency fund, but you’ll also want a long-term strategy to ensure your future needs will be met. With that in mind, let’s dive into how to set financial goals.
1. List and prioritize goals
As the famous Julie Andrews said, let’s start at the very beginning! Start by listing out the things you want to accomplish, including things you’re already working on and things you haven’t yet started. While you create this list, you should also think about your reasoning behind these goals.
For example, maybe you want to save up for your first international vacation to visit a bucket-list location. You’ll want to include as much detail about the goal as possible, including how much money is needed, what your current situation is, and what kind of timeline you expect. Including all this information can help you prioritize your financial goals.
2. Work SMART
With your intentions and purpose in mind, it’s time to fully develop your goals. You may have heard of SMART goals, but if you’re not familiar, SMART is an acronym to help set goals, and stands for: Specific, Measurable, Achievable, Realistic, and Timebound.
Let’s go back to the idea of your bucket-list vacation—maybe you want to visit Japan in the spring to see the famous cherry blossoms—specific. You’ve done the research and have an estimated cost in mind, plus a few added dollars for cushion—measurable. You also know you have enough PTO saved up to go on vacation—achievable. Lastly, after looking at your income, savings, and budget, you realize you will have enough money in your travel fund to go on this vacation in six months—realistic and timebound.
Overall, SMART goals aim to create specific and doable goals that you can accomplish or adjust as needed. Having all of these details can help you better visualize your plan—not just the goal, but the steps you’ll take to reach it.
3. Plan it out
Once you’ve fully developed your goals, you’ll want to write them down. This helps you keep your goals clear, while also creating some accountability. If you’re a paper-and-pen kind of person, dedicate a special notebook to your financial planning. Prefer digital options? Create a spreadsheet you can access on your computer and phone to help keep your goals top-of-mind. You can even use an app to help create specific savings goals.
As you’re writing them out, you may start to see an overarching plan come into view. Be sure to review your current financial situation, and examine what you need moving forward so you can better understand how your goals and timelines work together in your overall plan.
If you feel comfortable, you can do this on your own, but you can also work with a financial professional if you’d like more guidance.
4. Get to work on the basics
Wherever you are in your financial journey, make sure your basics are covered. For some, this may start with general financial literacy to help you get a better grasp on the different options available, and what all the terms mean. Or, you may be already be working on some of these financial building blocks, like your emergency or retirement funds. Whether you’re just starting on these goals or feel comfortable with your progress, it’s always a good idea to revisit them to make sure you’re still on track. Plus, these basics can ensure you have the right foundation to accomplish your bigger financial goals.
So what kind of financial building blocks are we talking about?
Build your emergency fund
It’s hard to plan for the unexpected, but an emergency fund can do just that. It’s most often recommended to have three to six months of your living expenses in your emergency fund, but even $500 could keep you from being in debt during a small emergency like car repairs.
Save for retirement
It’s never too early to start saving for retirement. If you haven’t started yet, look into an employer-sponsored plan, plus additional options like a Roth IRA. Or, if you’re self-employed, look for SEP IRA, a Simple IRA, or an individual 401(k). Most importantly, remember to be as consistent as possible with your contributions and be sure to understand the fine print of your accounts.
5. Maintenance
As mentioned in the beginning, it’s crucial to remember that financial goals are always ongoing. Mistakes can happen, and you may need to adjust your goals to get back on track. Or, you may change your priorities, so you want to be sure you are regularly checking in with your goals and the motives behind them. And, since we know you’ll be successfully setting your financial goals this year, you’ll want to set new ones as you make progress along the way.
Key Takeaways:
- Attaching motives to your goals can help you better prioritize them
- Make SMART goals: specific, measurable, achievable, realistic, and timebound
- Be sure you’ve got your basics covered, like an emergency fund and retirement plan
Hitting your financial goals won’t happen overnight—and it’s not a one-and-done situation, either. Be sure to regularly check-in on your goals and progress and remember that you can adjust as needed. If you find you’re successfully hitting some goals but struggling with others, evaluate your motives for setting the goal in the first place and consider resetting if you no longer feel aligned.
Financial security tips for the holidays
With the halls decked, candles lit, and presents under the tree, the holidays are a time of festive fun—and a little chaos—with family and friends. And while most people are celebrating this time of year, others are taking advantage of the craziness of the season Grinch-style.
Make this a December to remember, and follow these five quick tips to keep your finances secure this holiday season.
When shopping:
Use secure sites
Shopping online is a fast and easy way to get your gifts quickly this holiday season. But make sure before checking out that you’re paying through a secure site. Secure payment systems help keep your information protected through encryption. Double-check for the lock icon and the site’s SSL (Secure Sockets Layer) certification—does it start with “http://” or “https://”? If so, your connection is encrypted and secure. Not all sites have SSL certification, and browsing an unsecure site may not be an issue, but never share your financial or personal information without this added layer of protection.
Use your credit card
‘Tis the season for Christmas presents and online shopping. Whenever possible, use a credit card over payment apps like Venmo. Credit cards, like Georgia’s Own Visa® cards, offer greater protections to dispute charges when goods or services are not delivered as promised. Beware of giving out your bank details or using payment apps, as these transactions are basically the same as handing over cash and likely can’t be disputed at all.
When traveling:
Set up travel notices
Whether you’re heading to a new city or across the country, you should alert your financial institution to your travels. This ensures your transactions don’t get flagged for fraud based on the new location. If you’re heading overseas, setting a travel notice for foreign travel is even more important to keep your finances secure, especially if you won’t have consistent internet access.
You should also review the travel perks or protections offered by your card provider. Some cards offer even more perks for traveling, like travel insurance and reimbursements toward CLEAR, Global Entry, or TSA Precheck, which can save you both money and time during traveling. Additionally, credit cards offer fraud protection in case your transaction is compromised or your card information is stolen while you’re away.
Traveling with your Georgia’s Own card? We’ve got your back! Georgia’s Own Visa Signature®, Platinum, and Student Visa cards offer travel and emergency assistance and trip cancellation/interruption reimbursement when you book travel with those cards.
Use secure Wi-Fi networks
While we’ve already discussed the importance of online shopping with secure sites, there’s one other aspect you should consider when shopping online, especially when you’re away from home. While shopping online from your couch can be relatively safe—private Wi-Fi is harder to hack—public Wi-Fi isn’t as secure. In fact, using public Wi-Fi can leave you susceptible to malware or different forms of digital eavesdropping, like man-in-the-middle (MITM) attacks or Wi-Fi snooping and sniffing.
To protect yourself, try to make all online purchases from your home or from private Wi-Fi that you trust. If you find yourself shopping on your phone while out at the stores, turn off public Wi-Fi and use data instead. By entering your credit card number or other sensitive bank personal information, your risk of fraud increases significantly.
Lastly, be aware of your surroundings when shopping online in those holiday crowds. Don’t read off any personal information to your kid shopping on their phone, and watch out for people looking over your shoulder.
Be aware of scams
According to the Federal Bureau of Investigation, the FBI Internet Crime Complaint Center (IC3) received almost 12,000 reports of non-payment/non-delivery scams, resulting in losses over $73 million, just during 2022 holiday shopping season alone!
Additionally, scammers may capitalize on your feelings of goodwill this season. Be aware of fraudulent charities, and be sure to do your research before making donations. Another common holiday scam mimics package deliveries to get you to click on links, give up personal information, or even download malware to your device. Never click on a suspicious link or attachments in emails, on websites, or on social media.
If you believe you’re the victim of a scam, regardless of the time of year, contact your financial institution immediately, and file a report with IC3.gov.
Key takeaways
- Use your credit card whenever possible. Most credit cards offer extra protection for purchases, just in case something goes wrong. And be sure to check out your card’s travel protection options as well.
- Shopping online? Double-check you’re using a secure payment site and that you’re using private Wi-Fi or data to avoid your information being stolen.
- Stay alert and trust your gut if something feels off. Don’t give out personal or financial information over the phone—honest organizations do not request personal information via call, email, text, or A2A payments.
Whether you’re traveling this season or hosting for the holidays, we’ve got you covered.