Kennedy Funding Ripoff Report : Smart Financial Decisions for Today’s World

Developing Financial Literacy

Financial literacy is one of the most useful life skills to have in order to make it in today’s society and reach your personal goals. By understanding how to assess a financial opportunity, identify risk factors, and develop an informed decision-making process, an individual is able to mitigate their risk for costly errors and create a wealth-building strategy over time. Because there are so many complex financial products and services available today, consumers must have the ability to identify legitimate opportunities versus situations that require caution or avoidance.

Financial literacy does not mean you need to become a financial expert; however, you must have a solid understanding of basic concepts such as budgeting, credit, investing, and analyzing financial claims critically. Many people shy away from financial education because they consider the process of gaining knowledge as overwhelming or uninteresting; however, the negative consequences associated with financial ignorance are typically more painful than taking the time to learn the basics. By learning about and maintaining control of their financial knowledge, individuals can make confident choices based on their personal values and long-term well-being, rather than by depending on others’ recommendations or selling techniques.

Researching Financial Services

All financial services and products should be thoroughly researched prior to investing in them as part of performing due diligence. This process will provide you with insight into the historical performance of the financial service provider, the opinions of the actual customers’ experiences (gathered from several different data sources), a full understanding of the terms and conditions associated with the service, and a chance to speak with independent financial experts if you are contemplating making an investment of a significant amount of money. As financial services can be transacted online, consumers are often tempted to act quickly without going through a proper process of verifying the information regarding the service they are interested in.

Customer review platforms, regulatory agencies, and professional organisations are great sources of information on how to evaluate financial services. However, it is important when using customer reviews to be aware that both overly positive and negative reviews could be written by individuals or groups that do not have your best interests in mind. When you check different sources, you should pay attention to trends in the reviews, how long ago the reviews were written, how detailed the writer was in their complaint or compliment, and if the writer provides a type of documentation that supports their position.

Financial Service Evaluation Checklist

Preventing Financial Scams

The way to prevent financial fraud is to understand how fraudsters manipulate victims into making poor choices with their money by using various tactics that are known to be used. Some of the tactics include high-pressure selling techniques, false claims about unrealistic returns, requiring an upfront payment to start rendering a service, and a lack of verifiable information. If a legitimate Financial Advisor has no issues answering your questions, providing you with referrals, or if they are willing to let you take your time thinking about your decision without pressure, then they are a legitimate professional.

Many financial scams exploit the psychological aspects of the average human being who desires security, wealth, and helping their family and friends. Some of these scam artists create false emergencies that require immediate action on your part or they offer you an opportunity that appears to be too good of an opportunity to pass up if you do not act quickly. Being able to identify these psychological tricks will help you to continue to think reasonably when faced with very powerful emotional appeals to do something you do not want to do. A very helpful guideline is, “If it sounds too good to be true, then it probably is.” This simple rule has prevented countless people from making mistakes with their finances.

Dealing with Financial Disputes

Throughout your relationship with a finance provider, you may find yourself at odds with that Provider for a variety of reasons. Many times the issues arise from misunderstandings, sudden changes or differences in how two parties view the same document. When a dispute does arise, there are many ways to resolve it. The best approach is to handle disputes professionally and systematically. Document all conversations in writing, keep all your paperwork organized, and escalate through normal channels. Begin by contacting the company’s representative, and escalate it to the appropriate superintendent, department, or regulatory authority if necessary.

If you understand the Company’s procedures for resolving disputes, how to file a complaint with the appropriate Regulatory Agency, how to mediate, and how to file a lawsuit, you have a complete understanding of what processes to take when responding to different types of situations. Many disputes may be resolved amicably through direct negotiation when both the Provider and the Consumer act in good faith. Other times, formal complaints to the Regulatory Agency or legal action are required to receive a fair resolution. Experience often teaches you when you should continue to pursue an issue versus when it is in your best interest to simply accept the outcome and move forward.

Establishing Sustainable Financial Behaviors

Consistent and effective behavioral patterns are responsible for long-term financial wellbeing more than the singular aspects of windfall or large financial decisions. Living within one’s means, being able to maintain an emergency savings account, not taking on high interest debt, consistently investing for one’s future, and learning about personal finance is what creates the basis for stable financial accumulation over time. The fundamentals of establishing consistent financial behaviors may seem simplistic but can be extremely difficult for most to execute due to the delayed gratification of achieving discipline, in the culture of instant gratification which today’s consumers are faced with daily.

The ability to automate positive financial behaviors by employing automatic savings transfers, automatic bill payments, and automatic contribution of funds into investment accounts eliminates most of the willpower and memory that is required to follow through with these behavioral actions. Therefore, even if an individual is busy or personally stressed and is unable to be actively managing their financial affairs, they still can be assured that their positive financial activities are being completed on a consistent basis. In fact, the cumulative effects of consistent small steps taken over many years far exceed the impact of sporadic or novel financial heroics which are often followed by a long period of neglecting one’s finances.

FAQs About Financial Decision-Making

How much research to do before making financial decisions?

Research should be done in proportion to the size of the financial decision and length of the commitment being made. Therefore, large financial decisions should be thoroughly researched, and professional consultation may also be necessary.

How to find credible financial Information?

Credible sources of financial information can be found through government agencies that protect consumers, non-profit organizations that educate people on finances, regulatory databases, and licensed financial professionals.

Should I trust online reviews of financial services?

Online reviews should only be one source of information. A better way to evaluate a financial product is to look for patterns Rating by several users.

When to consult a financial professional ?

For major financial decisions, such as investing, purchasing a home, estate planning, or if you are confused by the complexity of your finances, you should consider seeking assistance from a financial professional.

Ways to Increase Your Financial Literacy.

Ways to increase your financial literacy include reading credible literature on financial issues, taking free online courses, attending workshops on finance, and applying what you learn to your own life.

Disclaimer

This article serves to educate readers about the basics of financial literacy and the process of making informed consumer choices. This article does not serve as professional advice regarding financial matters, legal matters, or investments. Each individual’s financial situation is unique, and thus will differ greatly from that of others due to certain factors such as personal circumstances, goals, risk tolerance, and resources. The article does not make any claims about any specific financial institution, product, or service. As such, the author and publisher shall not be liable for any financial decisions, investment activities, or outcomes resulting from your reading of this article. For any significant financial decisions, it is always advisable to complete your research and consult with a qualified, licensed professional. Your financial products and services are subject to various regulatory requirements, consumer protections, and jurisdictions. Accordingly, the information herein presents generalised principles; however, while they may apply generally, they may not be appropriate for your unique situation. If you would like a more specific and tailored approach to your finances, please consult with a Certified Financial Planners, accredited accountants, or other appropriately qualified licensed professionals.