In Money Trouble?

woman holding empty walletOkay, this article is packed with ways to prioritize your spending and save money creatively.  But what if you’re reading those articles too late?  What if you’re already in deep trouble when it comes to money?

And let me define “deep trouble”— you’re so broke you’re thinking about singing for change on a busy street. Being 30 days late on some payments, a shutdown phone, bounced checks, or lights being turned off in your pad also describe “deep trouble.”

If any of this sounds familiar, you’re not alone. People our age mess up all the time, and many ruin their credit in the process.

 

 

  

 

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The Top Ten Money Myths: How Many Have You Fallen For?

rejected credit application

As part of my job, I've spent the last four years talking to young people about money. I keep hearing these 10 money myths. How many have you fallen for?

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The Scoop on Credit Cards

13You've got big plans for the future: move away from home, buy a car, and be more independent. But have you thought about how you are going to pay for this? Do you have some money saved? Or are you planning on using credit cards to achieve your dreams? If you're thinking the credit card way, think twice. For most young people, credit cards can lead down a dangerous path, if used the wrong way.

Did you know this?

The average college senior has about 4 credit cards, but only 50% of those students have a job. So, how do these students pay their credit card bills? Many don't. At first, they may use one credit card to pay the other credit card bill. Then they just start "defaulting" on their bills. From that point on they go down a dangerous path that could eventually lead to bankruptcy.

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Cell Phone Scams!

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We’re cruising along in the car listening to music. My buddy gets a phone call:

Last warning: your car insurance warranty is about to expire! Press ‘1’ to talk to a representative,” the voice says. Without thinking, my buddy presses “1” and looks lost while listening to what the person on the phone has got to say.

Wait a minute; he suddenly remembers he doesn’t even have a car!

 

 

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Job Scams!

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So the economy is bad. People are losing jobs and are out of money… Sounds familiar?

So, let’s say you’re looking for a job. Here’s something you have to think about: being scammed in the job hunt....

Job scams are happening to young people around the country more and more, whether they’re moving out, or moving back in with their parents.

 

 

 

 

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Travel the World!

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Have you heard this airline credit card promotion?

Sign up for our airlines’ credit card now, and we’ll give you a free round-trip ticket to anywhere in the continental USA! Plus… We’ll give you 5000 bonus miles on top of that! Yes, these miles can be used to get more free tickets. The sky is the limit, and it doesn’t cost you anything either.

Let’s have a look at these claims!

They give you the 5000 free miles. But did you know 5000 miles is not enough to get you a free trip?

 

 

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Financial Crisis?

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What is this financial and credit crisis everybody is talking about anyway?

Here’s a definition from theFreeDictionary.com: a long-term economic state characterized by unemployment and low prices and low levels of trade and investment.

This basically means that a lot of good people are losing their houses, cars and jobs. And to make it even worse, the majority of businesses are not hiring people.

 

 

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Spring Break!

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It’s that time of the year again… Spring break, baby!

How about Florida this year? Or Mexico?

Great stuff! But how are you going to pay for all this?

Maybe you’ve got the airfare. But what about a place to sleep? What about breakfast, lunch and dinner? Wait, skip the breakfast part, you’ll probably sleep right through that!

 

 

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Identity Theft

idcards.jpgAnd yet another article on identity theft… Boring!

But is it? Did you know young people are big targets?

Here’s a quick head’s up.

What is ID Theft?

A scammer uses your name, personal information, and credit to steal products and services and leaves you with the bill.

 

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Pyramid Schemes; A Scam To Watch Out For

money-pyramid.jpgGet this scenario: you, a college student who has discovered the luxury of 10 Ramen Noodle cups for only a buck, are approached by a young man dressed-for-success at the local JCrew.

He begins by asking you questions like where you go to school, what you’re studying and what do you want to do with your life. He then tells you a little bit about himself—he says he’s an entrepreneur who’s been quite successful and would like you to come in for a meeting to see if you could become ‘one of them.’

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Online Scams Target You

trap.jpgOnline scammers like people our age for two reasons: They know we love the Web, and they know we trust people.

The result? More young people are being ripped off online right now than ever. Watch out for these scams:

FireFox Enhancement! FireFox is a great open-source browser recommended by a lot of consumer types—free and fast. They’ve just released a wicked new version, too—for free. But scammers in Russia and China are trying to sell the new version, and as a bonus, when you pay for what should be free, the scammers download a virus on your computer. Thanks for nothing! So, what do you do? Download FireFox from only one site: www.mozilla.com.

 

 

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So, What Would You Do With This Phone Call?

phone_call.jpgYou answer the phone, and there’s this nice lady on the phone.

She says she works for Greenpeace and asks if you would like to make a donation to save the whales that are being killed in the Norwegian Sea.

Of course! You’ll help them fight these animal abusers!

You decide to donate $100 to the good cause—your savings for four months.

But hold it: how do you know if your money ends up at the right address?

 

 

 

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Credit Card Phishing

Will You Be Lucky Enough to Get a Call Like This?

 

credit_card_phishing.jpgYou’re sitting around when you get a call from someone who says they are with your credit card company’s fraud department. There’s “suspicious” activity on your account.

Because you are very smart, you know scam artists make calls like this and start questioning the caller.

“Well, I understand your suspicion,” she says, “but my badge number is 148236. You’re welcome to call the number on your credit card if you don’t want to talk with me, but please talk with someone in the fraud department immediately. We think someone is charging to your account.”

The lady sounds pretty legit, but you’re still thinking about hanging up when she continues…

 

 

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Protecting Your Money, Personal Information, & Your Identity

Protecting your personal and financial privacy means educating yourself to take on a complex challenge. You might say that fighting for your privacy rights is like taking on an octopus with many arms (one issue, lots of manifestations).

The resources in this information sheet will help you stay informed about privacy issues and take steps to protect your personal and financial privacy.

Read on...

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    • Financial Well-being


      Want to improve your credit score? Want to cut your tax bills?  Like to tear up hundred dollar bills? (You're probably doing that). How about this:  want to wake up retired and without money?  Your Financial Well-being rules your life.  We put you in charge of the rules.

       

      Article Count:
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    • Privacy Rights

      Every worry about identity theft?  Worry about young people and the dangers of the web? Mind if I read your private emails?  Or browse through your medical records? This section takes you into the scary world of privacy, fraud and identity theft.  FoolProof gives you the information you need when it comes to identity theft and privacy issues.   

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