Category Archives: Personal Finance

Pay Yourself First

Another painless savings strategy is to bank all of your raises. If you can pay your bills on your current income, you can simply send all that extra money straight to savings. The same goes for bonuses, cash gifts or other unexpected windfalls.

This method is especially easy if your employer allows you to directly deposit your paycheck to multiple accounts. Set up a direct deposit to savings for the amount of the raise, and you’ll never miss it. Then, when your furnace gives up the ghost or it’s time to take that cruise, you’ll have a nice sum of money waiting for you in the bank.

What’s your secret strategy, or your nemesis, when it comes to saving money? Let us know in our Forums. It’s a place where you can swap questions and answers on money-related matters, life hacks and ingenious ways to save.

Reference: MoneyTalkNews

Cargo Theft on The Move?

 

By Carol Tice

updated 5/19/2013 9:47:20 AM ET

A lot of Super Bowl parties got ruined this year when shortly before the big game, two Atlanta-area thieves made off with raw chicken wings valued at $65,000. Allegedly, employees hailed from the same Georgia cold-storage facility where the birds were stored.

This was hardly an isolated incident. Exact dollar figures are hard to come by, but the FBI describes cargo theft as a growing, “ multibillion-dollar industry ” dominated by professional crime rings, not amateur burglars. Theft reports analyzed by national crime database firm CargoNet reveal there were 28 percent more domestic cargo theft incidents in the first three quarters of 2012 than there were in the same period of 2011, the most recent data available.

Bitcoin $$

Staying current: Bitcoin and other cryptocurrencies

You may have heard about them in the news, through one of your favorite online shopping sites, or from a friend who always has the latest scoop on technology trends: cryptocurrencies, like Bitcoin, are a way to buy things online — or in person, using a mobile app — with sellers who agree to accept them.

Cryptocurrencies can be a fast and inexpensive way to pay for goods and services. They aren’t backed by a government or central bank, and they’re not insured, the way U.S. bank deposits are. They have value because users agree they have value.

The value of cryptocurrencies rises and falls — sometimes sharply — depending on demand. If the value goes down, there’s no guarantee that it will rise again.

Some payment systems offer legal protections if something goes wrong. For example, the law limits your responsibility for unauthorized use of your credit card to $50. There are no such protections for purchases made with bitcoins.

Bitcoin users store their bitcoin addresses in a “wallet” — either on a computer or other data storage device, or through an online wallet service. If you use Bitcoin, encrypt your wallets and back them up. If your Bitcoin wallet files are accidentally deleted, tampered with by a virus, or stolen, your funds could be gone. Or if the company behind your digital wallet fails, or is hacked, you could lose your funds. That’s already happened to some Bitcoin users.

Bitcoin users have private and public virtual keys. It’s important to secure your private keys, and not share them with anyone. They’re the only way you can use or transfer your bitcoins.

If you’re considering Bitcoin mining as way to make money, read up on the FTC’s recent case against Butterfly Labs. And if you’ve had a problem with a bitcoin-related product or service, file a complaint with the FTC.

Tagged with: mobile, payment, technology