Fraud Prevention!

March is fraud prevention month! So it's very important that we all recognize it, report it, and ultimately stop it. Did you know that offences related to fraud are approximately $10 - $30 billion per year in Canada? That's right up there with drug related offenses. Fraud is really taking over and more and more people are becoming victims of fraud.

The top two scams of the week are the Anti-Virus Scam and the Emergency or Grandparent Scam.

Anti-Virus Scam
I am sure you've come across this scam. This is where you get a warning that your computer has been infected by a virus and you need to take action NOW! I actually received a phone call last week telling me the same thing. I knew it was fraud when they couldn't even tell me what kind of computer I had. These fraudsters cold call as many people they can and tell them they have a virus on their computer and if they would like the virus to be removed. If you say yes, they will offer to install software to get rid of the virus, or they may ask for remote access to your computer to fix it. They will then ask for your credit card number for payment for the software or for repair service. Once you allow these fraudsters access to your computer, they obtain your user names, bank account information, passwords and other personal information about you. Never give remote access to your computer to anyone, and never give your credit card number to a stranger.

Here are some additional indicators from the anti-fraud center site that you should be aware of:
• Unsolicited calls representing a computer repair‐company
• Urgent solicitation indicating there is a threat to your computer
• Credit card charges in amounts ranging from $35.00 to $469.00
• Credit card charges from foreign banks

Emergency or Grandparent Scam
I remember hearing about this scam many years ago. Unfortunately it is still happening. A grandparent receives a call from a fraudster pretending to be their grandchild. The fraudster tells the grandparent a sob story indicating that he needs help. They use a variety of different stories, from needing bail money, to being in a car accident and needing taxi money to get home, to being in a foreign country and needing money to get home. Whatever story they tell the grandparent revolves around the grandparent sending the fraudster money immediately. The fraudster always asks the grandparent not to tell any family members because they are embarrassed. The grandparent sends the money, because what grandparent do you know wants to see their grandchild suffer. None! Of course the grandparent doesn't verify the truth until it's too late. They've already been scammed.

Please pass this information on to your loved ones. Especially your grandparents and your parents that have grandchildren.

Do You Increase Your Expenses When You Get A Raise?

What do you do with that extra money after a raise or a promotion? It can be so tempting to buy a new car, TV, furniture, or go on a shopping spree. I am not saying you shouldn't treat yourself after a raise or a promotion, but I do think it's more important to delay gratification by using that extra money to pay down debt and increase your savings before going on a shopping spree.

I remember when I use to work at the bank and I would come across customers who would apply for a mortgage based on the raise that was yet to come. These people were wanting to spend money they didn't even get yet. Why on earth would you want to do that to yourself. I mean seriously, that kind of pressure is just crazy. Why wouldn't they want to put that money into a savings account to have a cushion just in case an emergency happens. What's even more crazy is I would come across customers who would do this kind of thing being the only bread winner. Huh! So you know what would happen if that person's hours at work were to get reduced or if they got laid off. That family would be screwed.

Getting out of debt and investing is the best thing you could do for yourself and your family when more money comes your way. There are so many unpredictable things that can happen in life. Imagine having $500,000 worth of debt, minimal or no savings and finding out that you're about to have a baby, or that your spouse has an illness causing him to no longer be able to work, or if you or both you and your spouse loose your job. The truth is these things happen to people every single day.

Now imagine if one of these things happened and you had no debt and $500,000 in savings. Your situation wouldn't look as bad at all, in fact your stress level would be reduced significantly. Dealing with money problems on top of an unexpected pregnancy or a job loss can be devastating. Why even consider putting yourself through that. The more you plan for those emergencies, the less of an emergency it actually is.

Why I've Shopped At The Same Store Since I Was 16.

I'll never forget the first time I started working and making my own money. It felt great to not have to ask my mother to buy a pair of shoes. I was making my own money, which meant I could spend it however I wanted to. Well not exactly, my mother still had a say in what I could and could not buy, but you know what I mean!

One my favorite stores when I was a teenager was a store called Stiches. Stiches is a clothing store for both women and men. They sold exactly what I wanted as a teenager. Winter coats, jeans, sweaters, tank tops, skirts and shorts. All this at a cheap price. It was after my first trip to Stiches that one of my friends started calling me cheap. I didn't really think I was cheap back then. I was just buying what I could afford and Stiches fit the bill! Most of the clothes I owned as a teenager were from Stiches.

As I got older and started working in Corporate Canada I knew I would have to expand my wardrobe a little by purchasing business attire. Stiches doesn't sell suits, or blouses or else you know I would've wore their suits. Even though I couldn't buy my work clothes at Stiches, I still shopped their for jeans and work out clothes. This is when more friends and my family started calling me cheap. By this time, I was in my twenties and still shopping at Stiches. My friends were constantly asking me why I don't shop at better stores. I would tell them that Stiches was cheap and had what I wanted.

Now that I am 32 and still shop at Stiches, my friends and family pretty much have accepted me for who I am. They know I am cheap and don't bother wasting their breath calling me cheap. Except for the odd occasion! Luckily for me I still fit into their tank tops, sweat pants and jeans. I have had work out clothes for years that I have purchased at Stiches and I still wear them today. Don't get me wrong I know that stores like Nike and Lululemon sell really nice work out clothes and the quality is great. But I don't go to the gym to show off my latest work out gear, and besides have you seen the price of a Lululemon tank top? Well if you haven't, one tank top is $52 + tax. Let me repeat that, $52 + tax. I get a headache just thinking about paying that much for a tank top. I paid $2.50 for a tank top the other day at a Stiches outlet store. I paid $49.50 less than someone else who actually bought one of those tank tops. There's a lot I could do with $49.50. Like I said earlier, I have tank tops and sweat pants from Stiches that I've had for at least six years, maybe even longer and they still fit and look fine to me.

Although my income is much higher now than it was when I was sixteen, I just don't see the need to shop at more expensive stores for certain things. I am a firm believer in keeping my expenses as low as possible. I really try not to increase my expenses just because my income increases. That is what helped me to get rid of my mortgage. Any extra money that I would get from bonuses to promotions at work would go towards paying down my mortgage.

What about you, what stores have you been shopping at since you were a teenager?

Stepping Outside Your Comfort Zone

I just love this article I found over at Money Sense on stepping outside of your comfort zone. Fear is really something! It can either prevent you from doing something or propell you in the right direction. It really is a choice!

I love that feeling of fear that comes upon me when I am about to try something I have never tried before. I remember the very frst time I did a presentation in front of a group of people. I was soooooo scared, arm pits sweating and everything. I had an opportunity to back out just before I went on, but I knew that was my moment and I had to walk into my fear. Of course when I was finshed, I said to myself "that wasn't bad at all." That is one of the biggest misconceptions of stepping outside of your comfort zone. It always seems life threatening before you do it, and after you feel so much better for doing it. I have had so many of these experiences that I've learned just to do it scared. I mean really what's the worst that can happen?

Stepping outside of your comfort zone doesn't have to be anything big. It could be something as simple as taking another route to work. If you've been taking the same route for the past 10 years, why not try another route. There are a ton of stuff you can do that you may have never done before. Bake a cake, take a homeless person to lunch, be a big brother or big sister, start up a conversation with a complete stranger, (I've done this, you could change someone's life by doing this) take a trip alone, book a hotel and just have a night out, go to a movie or a concert by yourself, take a dance class, learn how to play an instrument, learn how to swim, buy a family in need some grocery. Okay that's all I can think of right now. I am sure you get the point.

I just thought of one more thing I've heard some people do. Create a bucket list. This is a list of the things you wish to do before you leave this earth. Okay that's it!

Stepping outside of your comfort zone stretches you as an individual. It gives you more confidence to take on greater challenges in life. It also helps you to live a more fulfilled life. I get bored very easily, so I am usually looking for challenges to stimulate my mind. This often forces me to step outside of my comfort zone.

What have you done to step outside of your comfort zone?

The Better Business Bureau Released Its Top Scams For 2011

I don't know why some people can't just find a job or create a job like the rest of us. Instead, some find joy in ripping people off and stealing their hard earned dollars. It just sickens me that people stoop to such a low to get what doesn't belong to them.

The Better Business Bureau (BBB) recently released their top scams for 2011. You know I just had to share some of them with you. Knowledge is power when it's implemented so here goes:

Job Scam
Online job application scams have been out there for a number of years. You see an add online for a job and you submit your resume. The recruiter then emails you to schedule a phone interview. Maybe a few days or so later you receive a job offer. To start the job, you are asked to provide your banking information for direct deposit of your paycheck. They may even ask for your Social Insurance Number. All this information is just to obtain your personal data, so they can steal your identity.

Lottery Scam
I am sure you received a lottery scam call. This is where you're at home enjoying your favorite TV show when your phone rings and the person on the other end of the phone is so excited because you just won  A LOT of money. But the catch is in order to claim the money you have to send them some money first. Really! This has scam written all over it! But it's amazing how many people fall for this.

Sweepstakes Scam
I don't know if you remember this one, but there was an email that went around claiming that Mark Zukerberg (Facebook founder) was giving away $1 million. If you got the email, you were the winner, apparently the email was said to be from Mark himself. These types of scams typically will use famous names to make the offer seem more real. Remember if it sounds to good to be true, IT IS!

Identity Theft Scam
So you're on vacation in your nice hotel, you decide to call it a night when at 3:00am the phone rings. You answer the phone with your eyes still closed wondering who the heck is waking you up at 3:00am. It's someone claiming to be the front desk clerk. She apologizes profusely for waking you up and then proceeds to explain that the hotel computer has crashed, and they need your credit card number again or to make it sound more believable, they'll tell you the number they have must be wrong because it won't go through. By this time you just want to get off the phone and go back to bed. You give them your credit card number and go back to sleep. By the time you wake up in the morning, the crook has probably charged a trip to Australia on your dime.

Cheque Cashing Scam
This one is stooping pretty low, but then again all these scams take a certain type of loser to follow through. You post an ad on Craig's list because you're trying to get rid of your grandmothers old treasure chest. Someone actually sees it and wants to buy it. They send you a bad cheque for more than the chest is worth, and ask you to Western Union them the difference. When you deposit a cheque it takes a few days to clear, unlike wired money which is done right away. So now you've sent a stranger your hard earned money and you're still stuck with your grandmothers chest.

I hope you have never been a victim of any of these scams. If you haven't please be aware. If you would like more information on other scams, please visit The Better Business Bureau Scam Source

Furnishing An Entire House for $716.97!

I found this great article over at Money Talk News on how Angella furnished her entire house for $716.97. Can you believe that? Wow! I had to share this because I know most people spend more than that on a mattress and a box spring! It's amazing what you find when you actually look and are patient.

Angella wasn't concerned with buying things at garage sales or flea markets. Believe it or not you could get some good deals. I too purchase things at both places. Sometimes they sell the same things you can buy in a retail store.

I am pretty cheap, so these tips really hit home for me. Asking people for furniture they are no longer using is not a bad idea. I have a friend who buys new furniture every couple of years. She has very expensive taste, so her furniture is quite nice. She often just throws the old furniture in the garbage. You may have a friend or two like mine. Don't be afraid to ask them for their old furniture!

Check out Angella's story - How I Furnished My Entire House for $716.97

How Often Do You Check Your Bank Account?

Do you check your bank account often? Or do you just wait for your monthly statement in the mail. Most banks, if not all provide online and telephone banking for their customers. This makes life so much easier because you can access your bank account 24/7.

The reason why I ask this question is because fraud is so rampant in today's world, that it is vital that you check your bank account at least once a week in my opinion. I check my accounts daily. Now I am not saying you have to check your account as often as I do, but it never hurts to check it on a regular basis.

There is a popular type of debit card fraud called skimming. Skimming is when your pin number and your debit card information is stolen without your knowledge. This happens more often than you may think. Skimming most often happens at gas stations, convenience stores, restaurants and taxi cabs. Check out this video on how scammers can skim your information.

There was a huge debit card skimming ring that the Toronto Police busted last month. These individuals were responsible for over $250 million worth of debit card skimming. This is money that was stolen from people like you and I. These individuals were a bit more savvy than the average fraudster. There were 280 ATMs that were compromised in this bust, as well as some pay at the pump machines. I am really happy the police caught these crooks, but there are still more out there and we must protect ourselves.

Here are some tips to protect yourself from debit card skimming:

• Check your account online or though telephone banking frequently and report any unauthorized transactions
• Use cash instead of a debit card
• Cover your pin number and use your body to shield your pin number at ATM machines. There may be cameras watching you
• If there are several ATM's and one or more are out of service, go somewhere else. This could be an attempt of the scammers to direct you to the ATM that has a skimming device on it.
• Avoid using ATM's in high tourist areas. They are quite popular for skimmers
• If your debit card is not returned after you hit cancel at the ATM. Contact your card issuer immediately to cancel your card

Have you ever been a victim of skimming?