Happy July from USALLIANCE! We hope you're making the most of your summer, and we're back with this month's newsletter to help you make the most of your money! This month, we go over 9 home improvement projects that you can save money on by doing yourself. Our infographic, "Interest Rate vs APR" breaks down the key differences between two terms that many (incorrectly) use interchangeably. For July, our monthly fraud tip touches on why having strong and unique passwords for all of your accounts is vital. Finally, in this month's financial education tip, we talk about the importance of saving for retirement, even if it's decades away. In fact, it might be even more important to start saving while you're younger! 

Which Home Improvement Projects Can I Do Myself?

Last month, we discussed home improvement projects that can add value to your home. While these projects are great for adding value or simply updating your home, when done by professionals they can get expensive fast. This month, we're looking into cost-effective projects you can do all on your own!

July Fraud Tip: Create Strong, Unique Passwords for Each Account

It's been standard advice for years - each of your online accounts should have it's own unique, strong password. However, there were still over 24 billion passwords exposed by hackers in 2022 - not surprising, since over 80% of confirmed breaches are related to stolen, weak, or reused passwords and 96% of the most common passwords can be cracked by hacking tools in less than one second. Check out Hive's annual password table to find out how you can turn a password that can be cracked instantly into one that takes billions and billions of years to crack.

July Financial Education Tip

No matter your age, saving for retirement is vital. Starting your saving early means that you will reap the maximum benefits of compound interest, earning you interest not just on your deposits, but on the interest you earn over time as well. Many companies offer sponsored retirement plans like a 401(k) that are also a great way to save for retirement - especially if your company offers a match on contributions. That's free money you should not pass up!

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