Archive for July, 2011

Do Not Keep These in Your Wallet

July 29th, 2011

You are at risk for identity theft every day

We all make sure we’ve got our keys, wallet and phone before we head out the door, but more often than not, we are carrying things that are better left at home. Some items we carry on a daily basis can be virtually impossible to replace and others may leave us at risk for identity theft in the event of loss.

Social Security Card

“You don’t really need it," says Maria Lin, editor-in-chief at Learnvest. If your Social Security card gets in the wrong hands, someone could open a credit card, apply for a loan, or even buy a car with the information. It’s nine digits, just memorize it.

Passport

If you’re traveling leave your passport in the hotel safe. Keep a photocopy in your wallet for identification along with your driver’s license. If you’re traveling in the U.S., use your driver’s license instead. "Your passport is the primo document for your identity and if someone gets a hold of it, you can really put yourself at risk for identity theft," says Lin.

Passwords/Pass codes

Do not write them down. If you absolutely can’t remember important pass codes, store them digitally on a password-protected phone, but never write them down and leave them in your wallet or purse.

Non-Password Protected Phones

Today, many people have smart phones that allow them instant access to bank accounts, PayPal accounts, medical records, and more. Even if your phone only accesses e-mail, a thief could easily search for banking or ATM passwords or addresses, according to Lin. "Think about all the things you have digitally stored on your phone. You have to have it behind password protection. This way a thief can still erase your phone’s memory and use it for themselves, but they won’t have access to your data."

Checkbook

"Your checkbook has your bank account number and routing number on it, your address, and possibly imprints of your signature," says Lin. Lin says, “if you know you’re going to need to write a check one day, peel off one check and take it with you. Don’t get into the habit of carrying your checkbook with you all the time. You want to prevent someone’s ability to just start writing out your blank checks and cashing them."

Credit Cards

"A lot of people put all their cards in their wallet and carry them at all times," says Lin. "But if your wallet gets lost or stolen, that means you’re going to have to sit and cancel every single one, and wait a week without any credit cards before you receive a replacement." Only carry the one or two cards you use on a daily basis and leave the others at home.

Cash

For people on a "cash diet," Lin recommends carrying only as much cash to cover the day’s expenses.

USB Devices

USB devices such as a disk-on-key can be bad news in the hands of thieves if they contain confidential files. I bought a large capacity disk-on-key the other day and backed up my computer onto it. I carry it on the ring with my car keys. Mistake!

Tags: Credit card security, ID theft, Pass codes, Pin numbers, Wallet
Posted in Credit Cards, Economy, Finance, Identity Theft, Money, Personal / Internet | No Comments »

That Get Rich Quick Scheme of Yours Will Probably Fail

July 28th, 2011

Be careful what you sign up for

You’ve seen ads and watched late night infomercials for get rich quick schemes. You may even have signed up or bought a guide to quick riches.

The good life

We all dream of living the good life, guys lying back, surrounded by lots of beautiful girls in bikinis. Most of the get rich schemes are aimed at men. There are no ads featuring laid-back women surrounded by scantily clad men.

Reality

Reality comes crashing down when you realize that the only person getting rich quick off of these schemes or books is the guy who sold you the “system” which was supposed to make you wealthy beyond all imagination. Here’s the reality: while some get rich quick schemes really are crackpot ideas that will not make anyone rich, many of them actually do have some good ideas. The problem isn’t so much in the concept as in the methodology.

Important Aspect

The problem with a get rich quick scheme, assuming it is a decent one is that they show you the pretty girls and the fabulous lifestyle, but they don’t show you the hard work that goes into making lots of money.

Luck

We see people like Mark Zuckerberg and say wow, “that guy was so incredibly lucky to have created Facebook when he did”. What we don’t see is that he worked like crazy to create his company, putting in the 80 hour weeks to make it happen. We don’t see the time when he was poor and living in a college dorm, trying to build a successful company.

The Problem

This illustrates one of the two problems with get rich quick schemes: They focus on the goal of becoming a millionaire when they should be focusing on the work that it takes to get there. There is a certain amount of luck, of being in the right place at the right time with the right idea involved in them.

Another Reason

Whether you want to get rich quick or get rich slow, you’re going to have to work hard to do it. However, in order to get rich quick, it’s more than just working hard, it’s working smart. It’s coming up with an idea that could change lives and then running with it.

The cookie cutter approach

This is the second reason that most get rich quick schemes fail – because they suggest a cookie cutter approach rather than you taking the idea and crafting it to your own individual needs. If millions of people could follow a simple, turnkey idea and become multi-millionaires, there wouldn’t be any poor people left in the world. The reality is that not only do you need to work hard, but you also need to be innovative, to put your own “seal” on the get rich quick scheme by adapting it to your needs. That’s the way to make untold riches. Unfortunately, most of us have trouble thinking outside the box and as such, tend to fail at getting rich quick.

Tags: facebook, Get rich quick schemes, Hard work, Luck
Posted in Business, Economy, Employment, Finance, Money, Personal / Internet | No Comments »

I Don’t Have The Money To Keep Up With My Grandchildren!

July 26th, 2011

My digital grandchildren are making me old

It’s school vacation time and yesterday I received a gentle reminder that I should spend the day with Tommy, aged 11 and bored stiff at home. He is a champion swimmer and elected not to go to summer camp with all his friends but stay home and concentrate on his swimming. I picked him up at 11 and off we went. “Fancy a little bowling?” I asked.

My day

“This is your day, Pop. Whatever you decide to do, I’m with you!” We head for the mall and the new bowling alley. As we entered the mall we see a large crowd gathered around a roped off kiosk. “Hey cool!” said Tommy. “Angry birds!” I asked what it was but I didn’t understand the explanation and kept quiet so as not to appear stupid. What I did understand is that it’s a game played on iPhones, iPods and iPads. “Have you got an iPhone?” I ask. He looks shocked as though I may have asked if he has hands on the ends of his arms.

New iPhone

“Pop, have you heard that iPhone 5 is coming out soon?” I grunt a no. “It may not have buttons! Cool, eh?” I grunt again. Phones without buttons? Whoever heard of that? But the truth is that I’ve never heard of much of the new launches. Sometimes I feel like I have been dropped into another world, one where everyone walks around with some gadget or other in his hands. Look around you in the mall and you see bunches of kids all frantically talking on phones, pushing buttons on iPhones, iPods and iPads, all talking to each other at the same time. I see kids driving cars and texting each other as they do a 4-wheel slide around a corner.

The money

And where does all the money come from to buy these gadgets, none of which is cheap?

My computer

Granddaughter Belinda walked into the study one morning while I was hammering away at the keyboard. “That thing has to be the last remaining steam-operated computer in the world. The museum would be delighted to have it on display. It’s time to upgrade, Pop!” “Why do I need to upgrade?” “The latest model will be twenty times faster, that’s why!” “Belinda, dear, come and watch me typing. Sit here. Ready? Off I go!” “So, how’s my speed?’ “Great, Pop. You are an excellent typist.” “Good. Now an upgraded computer will allow me to go faster than that? My book will be finished sooner?” “Pop, you’re using version one point three! They’re selling version seven downtown! Why don’t you get it?” “What’ll it do for me?” and she had no answer.

My Smartphone

“You should get a smartphone, Pop,” said Jason the other day. “Why?” “A smartphone is not just for making calls, Pop. It’s a powerful computer, and if you’re just making calls you’re only using a fraction of its capabilities,” he explains patiently. Should I explain to 16 year old Jason that I bought the phone to make calls?

Tags: Angry birds, ipads, iphones, iPods, Smartphones. Gadgets
Posted in Employment, Finance, Money, Personal / Internet, Technology | No Comments »

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