Tag Archives: Cash

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

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

BANKS $ATM$ SCAM$$$$

(CBS) – A warning for anyone using an ATM card.

CBS 2’s Chris Martinez reports.

Twice before, Tim Laffredi has been burned. He was first hacked through an ATM skimmer and then later hit again in the Target security breach.

Now there’s word of yet another sinister scam: unlimited operation.

Fraud expert William Kresse says if you have an ATM card you are at risk.

The hack begins with an email to bank employees, delivering corrupt software to their system. And then from far away hackers change the settings of the bank’s ATM.

“This malware tells the ATM: Go ahead and disperse as much cash as the person requests. It could be thousands of dollars,” Kresse says.

Getting that money out is the next step. Using phony cards with stolen account numbers, hackers spread out to areas with lots of banks.

Within a matter of hours, they can drain the machines and get away with your money long before anyone knows it’s gone.

“You’re talking about draining millions and millions of dollars out of the economy,” Kresse says.

He says mid-sized and smaller banks are the most common targets of these hacks. But any bank is fair game.

All banks are being told to upgrade protections on their ATM controls.

 

Credit Repair Companies??

Credit Repair Organizations Act (CROA)

The Credit Repair Organizations Act (CROA) is a federal law that governs the business and advertising practices of companies claiming to offer “credit repair” services. Prior to CROA, some companies took advantage of consumers and profited on advice that actually hurt consumers instead of helping them.

CROA prohibits the three national credit bureaus and their subsidiaries from becoming credit repair organizations. freecreditscore.com is owned by Experian, and as a result cannot be a credit repair organization, and cannot provide you specific credit advice.

We have partnered with another company that can offer specific advice. To learn more, please visit Experian Credit Advisors.

Credit Repair Companies

Be very careful when dealing with any company that offers to “fix” or “clean” your credit for money.

Credit is a highly regulated industry with very established processes. Many of the services these agencies offer are things you can do for yourself at no cost, such as filing disputes with the credit bureaus.

This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.

Published by permission from ConsumerInfo.com, Inc.  © 2013 ConsumerInfo.com, Inc.  All rights reserved

Jim