Don't Fall for Fake Check Scams

You have probably heard through the news of fake check scams. Don’t get caught in this illegal activity. Fake check scams are clever ploys designed to steal your money. There are many variations of the scam. It could start with someone offering to buy something you advertised, pay you to work from home, or request you help them cash a sizeable check. They are very convincing in leading you to believe the offer is legitimate.
The scam works when the fraudster sends you a check or money order for your goods or services. The check is for more than the purchase price of goods or service. The fraudster asks you to send the difference back to them as "change" or to cover "taxes" or "administrative fees". After you send the money, your bank informs you that their check or money order has bounced.
Because the counterfeit check or money order looks so real, even bank tellers may be fooled. Although you receive the money immediately, it may be weeks before it is discovered to be fake.
At that point the check bounces and you are left holding the bag. The bank will deduct the amount that was originally credited to your account, and if you don’t have enough funds to cover the counterfeit item, you will still be responsible for the funds.
Remember…there is no legitimate reason for someone who is giving you money to ask you to wire money back. If someone you do not know wants to pay you for something, insist on a cashier’s check for the exact amount from a bank that has a branch in your area.
If you would like more information on this topic go to www.fakechecks.org.

Money Matters

One of the big buzz words these days is BUDGET. For most of us, money is tight. What money we do have needs to go even farther. That may mean establishing or updating a budget. Here are some tips to get you started designing this tool to help you plan, prioritize, and manage your income and expenses.
To create a budget, you must
- Write down your monthly take-home pay. If you are out of work, write down your unemployment compensation. List income you receive from any source, including a part-time job, tax refunds, gifts, child support, etc. Add the sources to determine your actual income for that month. Keep in mind that some of the amounts may fluctuate.
- List how much you deposit in savings each month from your take-home income, even if it’s only a small amount.
- List your fixed monthly expenses . These are the predictable, set amounts for the must-have items and services that you pay for each month. These include rent or mortgage, car payment, and telephone, cable, or Internet access.
- List your variable expenses. These expenses are the amounts that change, as well as the expenses you pay weekly, monthly, quarterly, semi-annually, or every year like groceries, clothing, haircuts, property taxes, auto and homeowners insurance, and gas and electric.
- List estimates for once-in-a-while expenses such as birthday and wedding gifts, or holiday gifts and entertainment.
- Total your fixed and variable expenses and divide by 12 to get a monthly estimate.
- If after paying your bills and putting money in savings, you still have funds, you can carry over the balance for the next month or use it for unexpected expenses. If the month’s balance is negative, look for ways to cut back on the variable expenses.
We have a great budget guide to use for this project. Good luck!