What Would You Do? You Found a Lost Credit Card

28 02 2012

What would you do if you found a credit card on the ground?  Would you pick it up or walk right past it?  Maybe you would pick it up and hand it to a store clerk (if found in a store).

Fast forward and you chose to pick up the card and you didn’t have an authoritative figure to hand it over to.  Scared?  No worries – safeguard the card until you have access to a telephone.  Dial the card’s customer service number (located on the reverse side of the card) and inform them you have found a credit card.  The customer service representative will place a note in the account indicating the card was lost and found.  This is a blessing to the person whom lost the card especially if they have not discovered the card is lost!  This will save the cardholder potential money from unauthorized purchases because you had called the card in as lost and found!  You are trustworthy because you chose to make that call.

Now, imagine if that same card got into the wrong hands?  Scared?  Big worries – someone can potentially use the card fraudulently.  It is the cardholder’s responsibility to call in lost credit cards within 48 hours to reduce their liability of owing money on non-authorized purchases.  Normally, the cardholder is responsible and liable for only the first $50 of fraudulent purchases.  Most homeowner’s and renter’s insurance policies cover your liability for theft of both debit and credit cards as well.

Lastly, protect what’s in your wallet.  Write down the contents of your wallet and safeguard that list – usually in a safe deposit box or safe at home.  This way if your wallet is lost or stolen you reduce the feverish attempts of trying to remember what your wallet housed.

Follow these tips for calling in a lost card and always remember to keep your eyes on your personal property!

We’re Just Askin: Living Well – does that mean you

23 02 2012

Compensate Servicemembers for Wrongful Foreclosures

23 02 2012
Home ownership & foreclosure is a major area of need among military and civilian families alike.  The resource below may be able to provide assistance to Servicemember’s who have lost their homes to foreclosure – either by returning the home or providing the fair market value of the home.  The Servicemember would have to have been eligible for Servicemembers Civil Relief Act (SCRA) protections at the time of foreclosure.  If they are eligible, this is an amazing opportunity for military families who’s legal rights were violated.
The settlement agreement with the nation’s five largest servicers announced by Attorney General Eric Holder includes substantial financial compensation to homeowners who are Servicemembers and establishes significant new protections for them. Wells Fargo, Citigroup and Ally will be required to provide any Servicemember who was a victim of a wrongful foreclosure a minimum payment of $116,785 plus lost equity and interest for violating the Servicemembers Civil Relief Act (SCRA). JP Morgan Chase will provide any Servicemember who was a victim of a wrongful foreclosure either his or her home free and clear of any debt or the cash equivalent of the full value of the home at the time of sale. Servicemembers and their dependents who believe that their SCRA rights have been violated should contact the nearest Armed Forces Legal Assistance office at: http://legalassistance.law.af.mil/content/locator.php

U.S. Savings Bond Calculator

16 02 2012

Calculate the Value of Your Paper Savings Bond(s) with Treasury Direct’s online calculator.  It’s a good idea to either print the values or write them down on paper each year.  Your paper bonds should be stored in a safe place, such as a safe deposit box at the bank or in a fire/water proof box at home.

Want to learn more about bonds?  Check out our post here.

Valentine’s Day Spending 2012

14 02 2012

The National Retail Federation reports consumers will spend an average of $126.03 on Valentine’s Day this year.

Read more here.

Money Makeover 2012

10 02 2012

Money Makeover 2012

Organize your Bank Accounts

6 02 2012

We are sticklers for putting things where they belong.  Our home belongings are completely organized from top to bottom.  Computer items are stashed away in the computer desk, kitchen items stay in the kitchen and so forth.  In addition to our household belongings staying organized, our financial house is in order as well.

What does this mean you ask?  What financial house?  We’re talking about how you store, save and spend your money.

How to Store

  • Nicknames and Multiple Accounts.  If you bank online you have the ability to add nicknames to your accounts.  You may nickname your checking account “Bills”.  Multiple accounts work the same way – if home ownership is in your future, you may want to open a separate account called “Home or Down Payment”.  There is a wide array of nicknames that people create – some include: emergency fund, home maintenance, baby fund, college fund, new car fund, etc.

  • Write it Down.  Written budgets/spending plans make it easy to see your accounts.  We suggest you keep a running list of bank accounts in a safe place at home to keep stock of their whereabouts.

  • Separate Accounts.  For those wanting to consolidate accounts, there’s a way to sub-categorize accounts on paper.  For example, you have one savings account but you are wanting to purchase furniture in the near future so extra cash goes into the one savings account you have.  What you can do is write down on paper the amounts of money you are adding to the savings account which are to be allocated for furniture.  Tally up the total and when it comes time to make your purchase, withdraw that total from your savings account.

How to Save and Spend

  • Set Goals for Extra Cash.  One way we organize our home is to set goals upfront.  Whenever we come into extra cash (i.e., gifts, bonus), we commit to having a plan for that money whether that be saving or spending.  Normally folks add this extra money to their Roth IRAs (if you are working), make an extra payment to their credit card or save for future spending.  No matter which road you take, decide how and when you will save or spend your new-found money.

  • Track Your Cash Flow.  Keeping tally of your accounts will inspire you to continuously keep your accounts organized.

Start  now to organize your financial house.  List the accounts you have and their purpose.  If you bank online, creating nicknames is a sure way to keep your accounts organized!

%d bloggers like this: