Protect yourself from skimming theft at the ATM
July 17, 2008
As if there aren’t enough ways to have your identity stolen, thieves are increasingly starting to target ATMs.
The method of thievery is called “skimming.” Basically the thief inserts a device into the card slot of an ATM (or other self-scan devices like gas pumps). When you slide your card in, as your normal transaction is processing, the skimming device is recording all of your information. In addition thieves are using touch pads or video cameras to see what PIN number you’re entering. Of course some still get your PIN the good old-fashioned way by lurking and looking over your shoulder.
Some crooks have even gone so far as to purchase old ATMs and set them up in remote locations where unsuspecting people slide their card and get nothing but scammed.
Bankrate.com offers the following tips to help you avoid becoming a victim of skimming:
· Use a familiar ATM, preferably one attached to your bank.
· Don’t use an ATM around a suspicious person or in a remote or unfamiliar location.
· Check the card slot, keyboard and machine for any signs of tampering. Don’t use the machine if your card jiggles in the slot or anything else seems suspicious.
· Don’t use an ATM with a sign or message directing you to another machine.
· Keep a safe distance between you and other people in line at the ATM. Don’t let anyone distract you or offer to help you in any way.
· Have your card out of your purse or wallet and ready for use.
· Stand close to the screen and shield your activity.
· Keep your printed receipt to compare it to your bank statement.
· Secure your cash and card and make sure the transaction is complete and the screen in clear before you leave your ATM.
If you do suspect you’ve become a victim of skimming, notify your bank immediately. Unlike credit cards, if a thief gets a hold of your debit card that’s actual cash coming out of your bank account. The sooner you report a lost or stolen card or suspect transactions, the better chance you have of getting your money refunded.
Be a frugal fashionista
July 11, 2008
I love to be in fashion. I’ve become more frugal over the past few years. But, if I’m totally honest, I have a long way to go before I’m truly frugal.
I have friends who love to be frugal. They try to be in fashion, but that’s secondary.
Apparently we all win right now. I saw an article asking, “Is frugal the new black?”
With everyone dealing with rising prices, nearly everyone is becoming more frugal. And, miraculously, frugal has become fashionable.
Now, I should note that frugal to one person may not be frugal to another. I can’t remember where, but not long ago I read a story about consignment shops doing better business than ever. The story focused on consignment shops in
The people shopping at the particular shop featured in the story were buying high-end designer clothing. The consignment shop price for some of these little gems ranged from hundreds to thousands of dollars.
I guess if you’re someone who is used to spending $4,000 on a dress, getting one for $950 is a bargain. That’s frugal if you’re that woman.
But back to the real world where most of us live and shop. (Sigh …)
There are ways to still look fabulous and be frugal at the same time.
Never buy any clothing or accessories that aren’t on sale. Practically everything goes on sale at some point, so if you’re patient it will pay off in the end.
Shop off-price retailers like TJ Maxx, Marshall’s or Gabriel’s. These stores carry lots of name brand clothing and a reduced price. If you can hold out for sales or clearance items at these stores, you can get some serious bargains.
Example: I patiently waited for a pair of Cole Haan shoes at TJ Maxx to go on sale. And then I waited for the sale price to drop to a clearance price. The result of waiting was that I ended up with a pair of shoes originally priced at $230 for $22.
Shop outlet malls if there is one close to you. Much like the off-price stores, outlets offer clothing at a discounted price. If you can hit a sale, you can get a steal of a deal. I am admittedly a J.Crew addict, but the clothes are just too expensive for my budget. I only buy online during clearance sales and from the outlet. Outlet malls in the dead of winter are great for good deals. A few Januarys ago at a J.Crew outlet I snagged an $88 skirt for $8.
A big benefit of buying higher-end clothing at a discount price is that you’re also getting better quality clothing for your money. It doesn’t do you any good to buy inexpensive clothes that also happen to be cheaply made because then you’re just spending more money to replace the item in a shorter time period.
Consider shopping in consignment stores and vintage stores. You never know what you will find. Angelina Jolie made vintage store shopping fashionable last year after she showed up at a movie premiere in a vintage dress that cost her a mere $26, a far cry from the thousands usually spent on big Hollywood event gowns.
Shop in the closet of a friend, and by shop I mean borrow. My college roommate and I used to borrow each other’s clothes all the time. I inherited some great clothes from my sister-in-law. She took a job that involves wearing a uniform. She passed off some of her “office” clothes to me. For the cost of absolutely nothing I got some great pants and shirts (that she probably paid way too much for!).
Those are some of my suggestions for being a frugal fashionista. Do you have other suggestions for looking fabulous on a tight shopping budget?
Entertaining children on a dollar store budget
July 3, 2008
Have you ever been faced with having to entertain a group of children but didn’t have a big budget?
You can give kids big money fun on a dollar store budget. As I discussed in a previous post, you can get lots of great deals by dollar store shopping.
If you have an event where kids need to be entertained and remain seated, create gift bags for them. You can find coloring books, markers, Crayons, and little games all for a $1 a piece, or sometimes less. Package the items in a paper bag for each child. You could even personalize and decorate the bags if you’ve got the time. Or better yet, challenge the children to decorate their own bags with the materials you’ve given them inside.
This next idea was something my mom came up with for a family 4th of July party one year. She purchased toys at the dollar store, like bug catching kits and games. My parents happen to have a sand volleyball court, so she buried the toys in the sand and gave each child a plastic bucket, a shovel, and a “treasure map” to the items they had to find. If you don’t have sand nearby, you could still hide the items around your home and give the kids clues to find their prizes.
Look for sidewalk chalk and bubbles. Just give the kids access to some concrete, chalk and a bottle of bubbles each (so no one fights over them), and they can entertain themselves for quite a long time. I was able to find packages of bubbles that were 3 for $1 at my local Dollar Tree.
If you’re looking for entertainment and education, look for flashcards, puzzles and workbooks. I’ve found lots of great things like this at the Dollar Tree, too. They are great for teaching kids and keeping them busy.
The key is to be creative. You don’t have to spend tons of money to entertain children.
Get better gas mileage and learn about hypermiling
July 2, 2008
We all want to save money on gas. There are some easy ways to do that. Then there are the more complicated ways.
First, some of the easy ways to make the most of every gallon of gas:
· Drive the speed limit. Speeding is one of the fastest ways to cause your miles per gallon to plummet. (And yes, there was a pun intended.)
· Keep up with the routine maintenance of your vehicle.
· Make sure your tires are properly, but not overly, inflated.
· Eliminate any unnecessary weight in your car.
· When traveling below 40 miles per hour, turn off your air conditioner and open your windows. When you’re traveling over 40, it’s actually more efficient to run your air because of the drag the open windows will cause at higher speeds.
There are some drivers who have taken fuel conservation to a whole new level. They are known as “hypermilers.”
I have been reading a ton of stuff lately about “hypermiling,” which is basically a driving practice that is supposed to lead to maximum fuel efficiency for your vehicle.
There are people out there who are hypermiling experts. Then there are a whole lot of people who have jumped on the bandwagon in the wake of high fuel prices.
Hypermiling involves going beyond the obvious things we can all do and starts to get into some other practices. I read some blogs about hypermiling and thought, “Some of these things sound really unsafe?”
And apparently I’m right … and sort of wrong.
It turns out that some drivers who don’t really understand the principles of hypermiling have started using some techniques — like drafting, driving excessively slow or turning off their engine — that are hazardous on the roadway.
Check out this article that details some of the dangers. The hypermiling web sites do not advocate some of these practices.
Driving too slow can be dangerous on busy highways. Drafting, aka tailgating, behind big trucks is not safe because it reduces your ability to see ahead of you and increases your chances of rear-ending the vehicle ahead of you. And turning off your vehicle means you lose all of the power to your car including steering and brakes.
It’s important to increase your fuel efficiency, but it’s even more important to stay safe.
If you’re interested in learning more about getting better fuel economy from your vehicle and being a safe driver visit:
Reduce discretionary spending in your budget
June 20, 2008
Money is staring to get tight for a lot of people right now as costs continue to climb. I’ve already written about ways to save money by clipping coupons, going green and dollar store shopping.
Now I’m going to suggest evaluating your spending on things that you may have an option to scale back on or eliminate from your budget.
How much are you spending on cable television or a satellite dish each month? Consider reducing your package or doing away with cable or satellite all together.
Are you paying for mobile phones and a home phone? Are you using both phones? If you have a home phone that you haven’t picked up in months, you may want to consider cancelling the service. Also, see if your mobile phone plan fits your phone usage. Sometimes increasing your package can actually save you money. If you have a plan that allows for 400 minutes of anytime talk, and you’re using 600, you’re probably spending a lot on overage fees. Adjust your plan or reduce the amount of time you talk during peak hours.
You could also look at bundling your television, internet and phone services with one provider. This can sometimes be less expensive than paying for each service individually. One thing I would caution you to do is to find out if the price you are given is an introductory rate. Some services offer very low rates to encourage people to sign up for the bundle, but the cost increases after a certain period of time. If you are being given an introductory rate, make certain you know what the normal rate will be.
Review your insurance plan. You absolutely want to make sure you have adequate coverage, but double check to make sure you are not over-insured. Several years ago while reviewing my car insurance policy, it came to light that I was over-insured. Making a few changes knocked about $150 off of my plan for the year.
Look over your subscriptions and memberships. Ask yourself if you’re really getting something out of them. Why bother subscribing to a magazine that you barely read or paying for a gym membership if you hardly ever go.
If finances are really tight, it’s more important to pay your electric bill or buy groceries than it is to pay for satellite television or a subscription to “Men’s Health” magazine.
These are just some ideas of ways you can save. Sit down and review all of your expenditures and see what things you can eliminate from your budget.
And remember, these cuts don’t necessarily have to be permanent. You can always add luxuries back into your budget when your financial situation improves.
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