Apple launched its AirTag product, a small chip that can help people track lost items. But it’s already being used to track and stalk people without their knowledge.

An AirTag is a 1.26-inch disc with location-tracking capabilities that Apple started selling as a way “to keep track of your stuff.” The AirTags were released to deter us from making the mistakes we all do of misplacing our keys, wallet, purse and even luggage by allowing us to track them.

The tiny $29 AirTags have proved popular, selling out consistently since their unveiling.

There is growing concern that the AirTags may be abetting a new form of tracking and stalking, which privacy groups predicted could happen when Apple introduced the devices

Researchers now believe AirTags, which are equipped with Bluetooth technology, could be revealing a more widespread problem of tech-enabled tracking. They emit a digital signal that can be detected by devices running Apple’s mobile operating system. Those devices then report where an AirTag has last been seen.

AirTags, the small location-tracking discs, may be abetting a new form of stalking, posing a "uniquely harmful" threat given the ubiquity of Apple’s products. Privacy groups warned against this concern when Apple introduced the devices in April. https://t.co/hJoxjRRELH

— NYT Business (@nytimesbusiness) January 1, 2022

But AirTags present a “uniquely harmful” threat because the ubiquity of Apple’s products allows for more exact monitoring of people’s movements, said Eva Galperin, a cybersecurity director at the Electronic Frontier Foundation who studies so-called stalkerware.

“Apple automatically turned every iOS device into part of the network that AirTags use to report the location of an AirTag,” Ms. Galperin said. “The network that Apple has access to is larger and more powerful than that used by the other trackers. It’s more powerful for tracking and more dangerous for stalking.”

“AirTag Detected Near You.”

AirTags and other products connected to Apple’s location-tracking network, called “Find My,” trigger alerts to unknown iPhones they travel with. The AirTag product page on Apple’s website notes that the devices are “designed to discourage unwanted tracking” and that they will play a sound after a certain amount of time of not detecting the device to which they are paired.

After concerns about AirTag stalking and illicit tracking were raised, Apple instituted some security measures meant to discourage this practice. If an AirTag remains separated from its owner for eight to 24 hours, the AirTag will begin making a beeping sound to alert people nearby of its presence. When it does so within that time period is randomized, Apple says, to make it more difficult for bad actors to use AirTags to track others. However, people who said they have been tracked have called Apple’s safeguards insufficient.

If the person being tracked has an iPhone, their phone will notify them once it notices someone else’s AirTag has traveled with the person for some time, although Apple hasn’t specified how long that takes.

References:

1. https://www.apple.com/airtag
2. https://www.nytimes.com/2021/12/30/technology/apple-airtags-tracking-stalking.html
3. https://www.wgrz.com/article/news/verify/technology-verify/airtags-strangers-unknown-can-track-location-even-if-not-your-own/536-11082147-7387-46e2-81c4-8327f839d735

“Knowledge is power, and I submit that financial knowledge is also security.” Elizabeth Duke, Member of the Board of Governors of the Federal Reserve

It’s time for you to say goodbye to calendar year 2021 and to welcome in the New Year. And, it is time to think about setting financial resolutions and goals for the New Year.

You, like many Americans, should establish New Year’s financial resolutions that are both within your reach and represent your top financial priorities and aspirations.

The most popular financial goals are paying down debt, saving for emergencies, budgeting better and saving more for retirement, a Bankrate poll found.

The problem is that most people fail to keep their New Year’s resolutions.

“Everyone wants to make more money, save more money, invest more,” financial expert Steve Siebold, author of “How Money Works”, said. “But when it comes down to it, we tend to react emotionally instead of logically and that is the downfall.”

To help people you get started, here are a few resolutions that can help put you on track to achieve your financial objectives and dreams in 2022. 

Determining where you are financially

Before you can begin saving for the future, investing for the long term, spending less and building wealth, you must first figure out what are your current financial circumstances. It’s essential to determine your current cash flow (income minus expenses) and net worth (assets minus expenses). That’s the first critical step to making a comprehensive — and realistic — plan to achieve your financial goals and financial freedom. With regards to goals, You must get as specific and detailed as possible in defining your goals.

Once you determine where you’re financially, the subsequent step is to consider what you hope to accomplish financially in the next year or two. For instance, is buying a house at the top of the list? Maybe finally taking a vacation after nearly two years is a priority. One of your kids might be driving soon or preparing to leave for college. Reviewing what you need to save for is useful as you start to prep your financial blueprint. 

Pay down debt

Debt or loans are an excellent way to use future income to pay for an important purchase today, such as a car, an education, or a home. However, a Fidelity survey found that 41% of survey respondents expressed a strong desire to prioritize paying down debt or their loans in 2022. Additionally, a recent study found 75 percent of adults carry a credit card balance from month to month. Among those who carry a balance, the average amount is $5,315.

While there are many ways to use credit cards, personal loans and other forms of debt strategically to earn rewards, finance a big purchase and ultimately build your wealth, debt can still be a financial and emotional burden for many borrowers. Those with student loan debt, for example, often cite that their high monthly payments make it difficult for them to save for other goals, like owning a home.

One popular strategy for paying down debt is called the snowball method. It entails paying more toward your debt with the lowest balance while paying just the minimum on all your other debts. Once that debt is paid off, you can move onto the second lowest balance and repeat the process until you’re debt-free. This allows you to knock out one debt faster, which can make you feel accomplished and more motivated to keep tackling the others.

Create a financial plan

Having a financial plan or strategy will help you to achieve your financial goals and increase your likelihood of being financially healthy and achieving your financial goals in the long run.

Without a long term plan, you’re living in the moment which puts you at greater financial risk and leaves you with a more limited selection of financial options.

Financial planning is a process. It provides an overview of personal asset-building strategies that includes setting financial goals, budgeting, saving and investing, managing debt, and achieving financial freedom.

From the experience of many Americans, making a plan and sticking to it brings real success whether in the form of a healthier lifestyle or in the form of a more secure financial future.

Conversely, planning is essential for a more secure and healthy financial future.

Automate your savings

Saving is important, and you’re going to need to increase your savings to manage your financial lives successfully. American families rely on savings and investments to achieve a secure retirement, save for their children’s education, buy homes, start businesses, manage financial emergencies, and pass on wealth and opportunities to the next generation. This not only makes financial sense, but there’s a growing body of evidence that families with savings and assets generally do better in life.

Most people have the ability to save if they plan accordingly. One of the easiest ways to build savings is by automating contributions, which alleviates having to think about how much money to set aside each month.

Think about your own 401(k). At one point, perhaps when you were hired, you made one decision to save, and the rest was done for you–automatic payroll deductions, investments, statements, etc. Automatic payroll deductions can also be established to build general savings, savings for college, and other critical pre-retirement assets.

Regardless of which option you choose, make it a priority to have your savings automated.

Start an emergency fund

Nearly half of all Americans consider themselves financially fragile, meaning that they would “probably” (22.2 percent) or “certainly” (27.9 percent) be unable to come up with $2,000 in 30 days to cope with a financial emergency, according to a Brookings report. Similarly, almost half of all Americans report having trouble making ends meet.

Almost half of all households surveyed in the 2009 Survey of Consumer Finances had less than $3,000 in liquid savings, and 20 percent had less than $3,000 in broader savings. Finally, in a recent Bankrate survey on the effects of unemployment and the recession, 70 percent of workers reported withdrawing funds saved in college and retirement accounts for present day needs, likely leading to a significant loss of wealth in future years. But an emergency fund is an important financial tool that can help deal with unexpected expenses, such as home or car repairs.

These circumstances emphasize the importance of savings that can be used for emergencies. Even a minimum amount of emergency savings can have a significant impact, especially among lower-income households. In fact, the Consumer Federation of America found that low-income families with $500 in emergency savings had better financial outcomes than moderate-income families with lower savings.

The new year is as good a time as any to start (or grow) your emergency fund. In general, experts recommend saving three to six months of living expenses. Start by opening a separate and dedicated high-yield savings account.

Boost your retirement savings

Saving for retirement is one of the most important aspects of a sound financial plan.

“Use [the new year] to boost or maximize contributions to 401(k)s or HSAs, plot out holistic retirement goals (e.g., Where will I live? Will I work? How much to budget for travel?) and, no matter your age or life stage, take meaningful steps to boost your financial wellness,” says Lorna Sabbia, head of retirement and personal wealth solutions at Bank of America.

There are a few ways you can boost your retirement savings. For one, if your employer offers a 401(k) match, be sure you’re contributing enough to get the full match since it’s essentially free money. Another thing to consider is looking at where your money is being invested. Many experts recommend investing in a diverse portfolio of assets to reduce your risk but still achieve attractive returns.

Finally, it’s important to remember that the only way you get the market’s long-term average return of 10 percent is by holding through all the tough times.

“Your retirement savings will grow quicker if you pick a solid long-term plan and then stick with it through the good and bad times, but especially the bad times,” says James Royal, Bankrate investment and wealth management reporter.

Royal says that investors should continue adding to the account and keep from selling, no matter how tempting it may be.

Invest more

Don’t limit your investing to only making tax-advantaged retirement contributions.

If you already have an emergency savings account, consider setting up an investment account for goals with specific time horizons, like early retirement or saving for a house.

“While it’s great to max out your tax-advantaged retirement accounts — $6,000 in an IRA and up to $20,500 in a 401(k) — you’re going to have even more opportunities if you save in a taxable account as well,” Royal says.

Royal adds that some of the biggest perks of investing outside of your retirement account include:

• No limit to what you can save.
• Tax deferral benefits on unrealized gains (stocks you don’t sell).
• Immediate access to the cash without penalties or other restrictions.

If you’re just getting started, consider looking into a robo-advisor, which will do the investing for you after taking your risk tolerance and ideal earnings into consideration.

As we head into the new year, saving more money, spending less and paying down debt are all top-of-mind for many Americans. There are many ways to achieve these goals, but the most important step is considering what’s right for your personal circumstances. This will help set you up for success when working toward those goals.

Focus on physical health

Nearly everyone wants to lose weight after the holidays. However, health professionals contend that it’s not about shedding pounds, but managing your physical health that’s the most important.

Rather than focusing on losing weight, focus your energies on making a lifestyle change like resolving to eat something healthy every day. Or, if your gym routine has dried up, try new exercises to pique your interest.

There s a strong correlation and relationship between eating healthy and physical health to financial health. Aside from making sure your finances are in order, experts also recommended taking care of your physical health through exercise, nutritional diet and other healthy practices. 

By doing those things, you could decrease your health care costs and make wiser financial decisions focused more on the long term. 

Focus on increasing your net worth

A successful financial life isn’t about increasing your annual income — it’s about increasing your net worth, which is assets minus liabilities.

“Focus on your net worth before focusing on your income,” said Chris Peach, founder of Money Peach. “No one ever talks about how much Bill Gates, Jeff Bezos or Oprah Winfrey makes — they report their net worth. The reason is the true measure of wealth is not your income, but rather your net worth. Once you have your net worth on paper, set a goal to increase your net worth. To do so, identify ways you can decrease the amount you owe and how you can add to what you own.

And if any of this seems daunting, remember that one of the best ways to achieve a big goal is to break it down into smaller pieces. “Start with the end in mind,” said Peach. “Determine where you will be one year from now and then reverse engineer your goal to determine what it actually looks like.”

Almost everyone has that one big dream or big audacious goal they have filed away in the “someday” category of their brains. Make 2022 the year that you resolve to start accomplishing that goal.

References:

1. https://www.bankrate.com/banking/top-financial-new-years-resolutions/
2. https://www.cnbc.com/2022/01/01/how-to-keep-your-financial-new-years-resolutions.html
3. https://www.cnbc.com/select/2022-financial-new-years-resolutions-americans/
4. https://www.federalreserve.gov/newsevents/speech/duke20111022a.htm
5. https://www.msn.com/en-us/news/technology/5-new-years-financial-resolutions-you-can-keep/ar-AASeI4p
6. Annamaria Lusardi, Daniel Schneider, and Peter Tufano (2011), “Financially Fragile Households: Evidence and Implications (PDF), Brookings Papers on Economic Activity (Washington, D.C.: Brookings Institution , Spring)
7. https://www.gobankingrates.com/money/financial-planning/9-new-years-resolutions-successful-people-make-year

“We are what we repeatedly do.” Aristotle

Belief in Yourself and in Your Goals are an essential first step and ingredient for living the life you dream. You must believe in yourself and have faith in your abilities if you ever expect to succeed and prosper.

The adage — Winners expect to win and successful people expect to succeed — remains true today as it has over the past several decades.

A shortage of belief causes many people to give up steps short of their intended destination or to never begin in the first place. In many cases, it causes one to quit and sabotage their success when right on the doorstep.

Many people simply don’t feel worthy of success. It’s based on an erroneous belief or mindset implanted when young and allowed to grow unchallenged. Nevertheless, it’s essential that you have find that belief in yourself and faith in your abilities in order to have the life you desire and deserve.

You deserve to be successful. There is no reason for you not to have what you want unless you ignore the principles of success, fail to take the first step and quit before reaching your destination.

Set goals that are specific and challenging (but not too hard).

When people followed two principles — setting specific and challenging goals — it led to higher performance and achievement 90 percent of the time. Basically, the more specific and challenging your goals, the higher your motivation toward hitting them.

When you have that much clarity around your goal, your chances of hitting the mark increase dramatically.

Be passionate about your goals and committed to the end.

Research says that successful people achieve their goals not simply because of who they are, but more often because of what they do.

Use a feedback cycle to track progress.

Align all your goals.

Psychologists have found that people who are mentally healthy and happy have a higher degree of ‘vertical coherence’ among their goals — that is, higher-level (long-term) goals and lower-level (immediate) goals all fit together well so that pursuing one’s short-term goals advances the pursuit of long-term goals.

Lean on trusted advisors.

Seeking out expert guidance and advice makes a big impact on achieving your goals. That’s why successful people are no lone rangers. They surround themselves with mentors and advisors who will support them on their journey.

Avoid multitasking

The most successful people are very patient and live by the motto “one step at a time.” They also avoid juggling many things. Multitasking is not a good strategy for success according to research. Multitasking splits your focus over many tasks, causing you to lose focus, lowering the quality of your work and taking longer to hit your goals.

work on several smaller chunks to complete a big goal. But they do it by knocking one down then moving on to the next one.

As you break the goal down into smaller chunks, each of those chunks should have their own deadlines. Amy Morin in Forbes calls these “now deadlines”

“….break the goal down into smaller chunks, each of those chunks should have their own deadlines.”

References:

1. https://www.inc.com/marcel-schwantes/science-says-92-percent-of-people-dont-achieve-goals-heres-how-the-other-8-perce.html
2. http://successnet.org/cms/goals/top-ten-reasons-people-dont-achieve-their-goals