financial literacy Archives

12 Tips to Avoid Fraud – ‘Tis the Season to Be Cautious October 20, 2014

Hello friends and Welcome to Money Monday

Remember last month when I told you that hubby couldn’t buy me a gift for my birthday? Well after checking his bank statement a few days earlier, he realized that there had been some fraudulent charges made against his account. Luckily, they weren’t excessive, but after contacting the bank his debit card was immediately suspended, oh by the way, there’s a charge for a replacement, which I think is unfair but that’s another story for another Money Monday.

Anywho, I’m glad that he had finally heeded my warning in making sure to check his statements as well as any credit card or medical bills that were received in the mail. There are so many ways for scammers to get you and it doesn’t just happen during the busy holiday season.

Scammers and fraudsters are ever vigilant, therefore, as wise consumers we must be the same, so here is a list of 12 tips to help you avoid fraud and keep the scammers at bay!

Install a lockable mailbox to reduce mail theft.
Limit the number of credit cards you have.
Reconcile your check and credit card statements as soon as possible, and immediately challenge any purchases that you did not make.

Scrutinize your utility and subscription bills to make sure the charges are yours.

Keep a list of all your credit and bank accounts in a secure place so you can quickly call the issuers to inform them about missing or stolen cards. Or make a copy front and back of your cards with the numbers to customer service and fraud departments.

Do not toss pre-approved credit offers in your trash or recycling bin without first tearing them into small pieces or shredding them. Dumpster divers can use these offers to order credit cards in your name and mail them to their address. Always do the same with other sensitive information, such as credit card receipts and phone bills.

Avoid credit repair scams. If you are tempted to contact a credit repair company for help, use considerable caution. The FTC and a number of state attorney generals have sued credit repair companies for false promises to remove bad information from credit reports. Only inaccurate information may be removed from your credit report; negative information that is accurate (such as a bankruptcy filing or a defaulted loan) will stay on your credit report as long as governing laws allow.
Never give any credit card, bank or Social Security information to anyone by telephone unless you can positively verify that the call is legitimate.
Minimize exposure of your Social Security and credit card numbers. If the numbers are requested for check-cashing purposes, ask if the business has alternative options, such as a check-cashing card.
Do not have your bank send your new checks to your home address. Tell the bank that you prefer to pick them up.
Destroy all checks immediately after you close a checking account. Destroy or keep in a secure place any courtesy checks that your bank or credit card company sends to you.
Do not allow your financial institution to print your Social Security Number on your personal checks. I remember when your social security numbers were not only printed on your checks but also on your driver’s license as well. Times sure have changed!

Have you ever been a victim of a scammer, whether online, via the telephone or mail, if so, then you know how difficult, time consuming and sometime costly it can be to get things back on track.

Check www.aarp.org/fraudwatchnetwork if you are concerned about an organization that doesn’t sound legitimate and call 877-908-3360 which is the AARP Foundation Fraud Fighter Center.

Better Safe than Sorry!

Stay Blessed ~ No Stress in 2014!

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From Purses to Portfolios 2013 Celebration October 22, 2013

On Saturday, the Delaware Financial Literacy Institute, held it’s annual From Purses to Portfolios Celebration at the Chase Center on the Riverfront.

This event was held to honor the 2013 Award Recipients, those who had achieved various levels (hours) by participating in Money School Classes, Money Clubs, Special Events and Volunteering. Women achieving various levels ranging from 1-15 hours and up to 250 hours were being recognized, the highest achievement being the Ambassador of Financial Education ~ 250 hours.

The recipient of this award was Elizabeth “Penny” Church for her “Penny’s 2 Dollars Money Club” and she also received the Sandra A. Varano Golden Purse Award.

The other categories of recognition were: Money School Advocate Awards; Executive Director’s Awards and Outstanding Volunteer Awards of which I was also a recipient due to the volunteer hours of instruction for the Blogging 101 and Blogging for Your Small Business classes.

The From Purses to Portfolios Celebration was held in a beautifully decorated ballroom, and on each table there was a vibrant Autumn Mum and a small Gift Bag on each seat. Inside the Gift Bags was a pink FAB pen, Note Cards, “friends don’t let friends drown in debt” magnet, a donation envelop, a card advertising “Money Letters” and a retractable measuring tape from Citi, who was the major sponsor.

Chasing the Dream Exhibitors were set up around the ballroom selling products and attendees walked about chatting and networking. In an adjoining room there was a breakfast buffet, warming trays filled with scrambled eggs, bacon, sausage, and fried potatoes. As well as tables of yogurt, pastries, bagels, fruit, coffee, tea and juice.

Ronni Cohen, Executive Director opened the program with a warm welcome and explained the levels of achievement and how they are gained through the Money School of Delaware. Alisha Adams, a Money School instructor gave a beautiful blessing and Quadia Muhmmad, Program Director introduced the Keynote Speaker, Jackie Cummings Koski.

Jackie Cummings Koski, is the Award Winning Author of Money, Letters 2 My Daughter. As one of 6 children raised by a single dad, where money was always short, finances were taboo to talk about and bad money decisions were made, she knew that she wanted her daughter to make better financial decisions in her life.

She was determined to teach her daughter Amber, financial literacy but in a fun and easy way, one that would appeal to her teenage mind. Jackie began to write letters and those letters turned into a best selling book, one that was sent to and acknowledged by the President and First Lady Obama. Money, Letters 2 My Daughter is available in book stores as well as a downloadable ebook.

Jackie ended her presentation with a Group Activity in which she asked us to answer 1 of 4 questions on a “My Money Letter” form. Those willing to reveal their answer on stage were each given a $2 bill which has been significant in Jackie’s life long savings plan.

Ronni returned to the podium to present the 2013 Awards and Door Prizes which included Gift Cards, a WaWa Gift Basket and Books. One of the winners was a man, but in keeping with the FAB motto of “FOR Women ~ ABOUT Women ~ BY Women AND the men in their lives” is was okay!

A game of “What’s in your Purse” was then hosted by Quadia with the winner of having the most items on her list in their purse receiving the table’s Mum.

The event concluded with a book signing by Jackie and more sales by the Chasing the Dream Exhibitors. It was a great day and another wonderful FREE event sponsored by The Delaware Financial Literacy Institute – The Money School of DE.