"The School Bell: Scanners & Supermarket Savings"

 

SAVED BY THE BELL presents "THE SCHOOL BELL" with Linda Bell

Saving Money and Making "Cents" of History!

 

Throughout my college years, I worked as a cashier/bookkeeper at a supermarket. Call me crazy, but I would love it when it was busy. When my lines were long, I would move faster and scan items more quickly. I loved hearing the sound of the quick beeps as I waved the merchandise over the scanner sensor. I still love hearing that sound to this day.  Did you know there was a time when cashiers only had the option of manually typing in prices? SAVED BY THE BELL presents "The School Bell" - where we reflect on an event in history and how you can save money when using it. The date is June 26, 1974. Today's lesson is on supermarket scanners. Get ready students, it’s time for class. "The School Bell" is ringing! 

THE HISTORY LESSON
The Birth of Supermarket Scanners & the UPC Code

ONE MOMENT IN TIME:          

On June 26, 1974, Clyde Dawson handed cashier Sharon Buchanan a 10-pack of Wrigley’s Juicy Fruit chewing gum at the Marsh Supermarket in Troy, Ohio. The Marsh store was the first one to be fully equipped with scanners which could read the Uniform Product Code (UPC). When she scanned the 67 cents pack of gum, the retail industry was transformed forever. The "legendary" gum is now on display at the Smithsonian’s National Museum of American History in Washington, D.C.   

SHARON BUCHANAN (30 years later)

 

 

 



UPC CODE



I AM THE ONE:  

 A UPC code is a pattern of black and white lines printed on the packaging of groceries and other merchandise. N. Joseph Woodland applied for the first patent for bar code technology on October 20, 1949 and along with Bernard Silver, received the patent on October 7, 1952. But it wasn't until 1973 that George Laurer developed the UPC code when he was working as an engineer for IBM.
 

SLOWLY SURELY:

Spectra Physics and NCR jointly developed the first supermarket scanning system. Spectra provided the laser scanner and NCR provided the computerized cash register.  The use of scanners grew slowly at first. Barcoding.com says a minimum of 85% of all products would have to carry the UPC codes before the system could pay off. When suppliers reached that level in the late 1970s, sales of the systems started to take off. 

SELF-CHECKOUT SCANNERS

NEW SENSTATION:

Fast forward to 2015 - consumers now have the ability to check-out their own merchandise. NCR says the first supermarket self-checkout system was installed in 1992. Dr. Howard Schneider invented the machine which was first installed in a Price Chopper Supermarket in New York. An IBM study says in March 2015, there were 122,000 self-checkout stations in the United States and more than 468,000 worldwide.  According to the Global EPOS and Self-Checkout 2013 study, the number of self-checkout terminal shipments is expected to soar from more than 41,000 in 2015 to 60,000 by 2018.

  

THE MONEY LESSON

10 Ways to Shop Smart at the Supermarket

 

 

BE HAPPY:

Grocery stores are not created equal! Your shopping satisfaction can affect where you shop, what you buy and how much money you spend. Whether you're attracted to low prices, great product selection or a friendly staff - choose a store that has everything you desire. A Consumer Reports survey found that 55% of readers had at least one complaint about their current store. Shoppers were unhappy with the lack of open checkouts, congested aisles, limited product choice, poor selection of locally grown goods, indifferent staff, a confusing layout and missing price labels. Nevertheless, consumers do have some favorite places to shop for groceries. The Consumer Reports survey says the top national grocers are Costco, Trader Joe's, Whole Foods and The Fresh Market. Regional chains such as Wegmans (East), Publix (South), and Sprouts Farmers Market also scored high on the survey.

 

FIX YOU:

Whether the cashier manually enters prices or uses a scanning machine - you can get overcharged. If you can, watch the cashier scan your items and point out any errors that come up. If you're not able to watch the cashier ring you up, review your receipt after the purchase. Don't assume that the correct price will always come up. Before filing a complaint, make sure you grabbed the correct item. If you did, go back to the store with the ad and the product; and report the problem to the store manager.

 

I GOT YOU BABE:

If your favorite supermarket has a loyalty card, sign up for it. Even though the discounts may be small, the savings add up.  Look at your receipt - you will typically see on the bottom how much you saved in the transaction. 

 

 

HUNGRY LIKE THE WOLF:

Have you ever gone grocery shopping when you were hungry? Don't do it! The fresh smell of baked goods is enough to tempt anyone. We don't want you to overspend and buy those extra items. Fill your stomach ahead of time instead of your shopping cart.

 

READY OR NOT:

I have to admit: those ready-made bags of salads and containers of fruit are so convenient. Believe me; I'm guilty of buying them as well. But you will save money if you buy the fruit and vegetables and cut them at home. I know it is more work, but you'll get more bang for your buck!

I'M WHAT YOU NEED:

Go to the grocery store with a plan. Have a list of what you need to buy and stick to it. Be careful of those 10 for 10 deals - it can be tempting! But are you really getting a deal? And do you really need 10? Some stores will allow you to get the discount even if you don't buy 10 of the items. Another tip: consider buying non-perishable items in bulk. Think about it - you will always need toilet paper and paper towels. But what about the sale for 10 cups of yogurt? If you don't think you will eat it, don't buy it. The problem is: many of us are buying extra food that ends up in the garbage. A survey by the American Chemistry Council (ACC) says Americans throw away about $640 worth of food each year. While many Americans live on leftovers, 76% say they throw away leftovers at least monthly.

LOOK AT ME: 
There are a few spending traps to look out for when shopping. Beware of displays right near the checkout line - those are designed to tempt you to buy extra items while waiting. Also note: all of items advertised in the supermarket circular aren't on sale. Some of those products are advertised to entice you to buy them. The same goes for that big sign in the store promoting a specific item. If you can, check the sticker price on the shelf or research the product to see how much it typically costs.  You may not be saving anything at all!    

SWITCH:

Switching from big brands to store brands will save you big bucks. Industry experts interviewed by Consumer Reports found that store brands typically cost 15% to 30% less than their name brand counterparts.  In categories such as ice cream, trail mix, mozzarella, mixed vegetables and more - the magazine found at least one store brand from national grocery chains (Costco, Kmart, Sam's Club, Target, Trader Joe's, Walmart and Whole Foods) was equal in quality to the national brand. Important to note: the survey also found that some store brands are more expensive than the national brands. So make sure you comparison shop before you buy.

 

 

THE LOVE YOU SAVE:

Coupons are a great way to save money when shopping. Instead of pulling out the scissors, consumers are increasingly turning to smartphones and tablets to redeem coupons. eMarketer says the mobile coupon audience will post double-digit growth through 2016. The increase will be driven by coupons being offered by mobile apps, daily deal and group buying sites, emails and social networks. eMarketer expects that by 2016, mobile coupon users will represent nearly 83% of all digital coupon users.

 

 

TIME IS MONEY:

As the saying goes - time is money. If you're in the grocery store to pick up a few things, self-checkout machines can save a lot of time. However, I would advise against using self-checkouts if you have the following:

 

Bulk produce - Large amounts of produce can throw off the weight sensor and require an attendant to come by to assist you. (The line of people behind you on the self-checkout line is starting to grow.)

 

Coupons - One or two coupons shouldn't be a problem. But do you have a bunch of coupons? The truth is some don't scan. Here comes the attendant once again to go through all of your coupons and help process your order. (The line behind you is growing even longer. You ask yourself: why did I decide to use the self-checkout?)

 

Alcohol - Alcohol requires age verification. If you buy it on a self-checkout machine, an attendant will need to come over and verify your purchase. (A transaction that could have taken five minutes ended up taking 10 minutes on the self-checkout. Can you see all of the annoyed people behind you on the line?)

 

Stay tuned for future installments of SAVED BY THE BELL for more supermarket shopping tips!!

You've just been SAVED BY THE BELL!!

 

"Navigating Unemployment"

No matter how you slice it, losing a job is very stressful. From applying for unemployment - to navigating the job market - to managing your new financial reality - SAVED BY THE BELL has 15 tips to help you through the process.

1) WHO IS TO BLAME?
Were you fired due to company downsizing? Or were you let go because of performance issues? If it was your performance; you need to do some serious soul searching. Be honest with yourself - did you come in late often? Did you have a bad attitude? Was your work often incomplete? While you may have been unhappy at your previous position, we need to make sure those negative work traits don't follow you to your next job.

 

2) THE WAY IT IS:

Will you receive severance from your former employer? If so, review the severance agreement very closely. The document will contain information such as the end date of your employment; how much and how long your employer will continue to pay you and how long your health coverage will last. In return for singing the agreement, you may be asked to sign a general release.  Signing the release means you usually can't sue over anything that may have happened to you in the workplace before signing. As with any legal document, it's best if you consult an attorney before signing it.


3) AIN'T NOTHING GOING ON BUT THE RENT:
It's time to talk dollars and cents. Are you receiving severance or unemployment? If you have a spouse/partner - is he/she working? You need to map out a financial plan, as you won't have the same income coming into the household. Losing your job is an emergency - so you may have to dip into your emergency fund. If you have been following my advice, hopefully you have one! Evaluate your monthly spending by creating a "needs" and "wants" list. You need to pay your mortgage - but perhaps you can refinance the loan to a lower rate and pay less money each month. Instead of buying that daily latte from Starbucks, start making your coffee at home. What about those 300+ cable channels? Sign up for basic cable or get rid of cable altogether. How much money do you spend going out to eat? That's an expense that can be eliminated. Eat your home cooking instead.

4) HELP!

If you were fired from your job through no fault of your own, you may be eligible for unemployment benefits. Contact the agency that administers unemployment compensation in your state. Fill out the application online or on the phone. Make sure you file the claim during your first week of partial or total unemployment. You will need to supply detailed information such as your name, the last date you worked, why you are no longer employed, your former employer's information and any payments you expect to receive from your former employer. For the duration you are unemployed, you will need to fill out a weekly claim form to continue to receive benefits. You won't have to fill out a new application every week; you just need to recertify specific pieces of information on the form. What if you find a job? Just stop filing the claims. While you are receiving benefits, make sure you continue your job search!


5) WORKING CLASS HERO:
Believe it or not, there are a record number of jobs available in the United States! The Labor Department's latest Job Openings and Labor Turnover Survey says there were 5.4 million job openings in April, up from 5.1 million in March. That's the highest level ever!  What full time jobs offer the best pay and are in high demand? The Bureau of Labor Statistics Occupational Outlook Handbook says the five highest paying occupations based on 2012 median pay are surgeons, physicians, obstetricians/gynecologists and internists. They all received a wage equal to or greater than $187,200 a year. The BLS says the jobs expected to show the fastest growth from 2012 to 2022 are industrial-organizational psychologists, personal care aides, home health aides, insulation workers and interpreters and translators.

6) PART TIME LOVER:

While you may prefer a full-time job, don't close your mind the possibility of a part-time job. Part-time hiring, which the U.S. Bureau of Labor Statistics defines as 1 to 34 hours per week, increased considerably amid the economic recovery from the recession of 2008. CareerCast says the best part-time and temporary jobs this year based on the hiring outlook and wages are accountants, computer programmers, delivery truck drivers, graphic designers, management analysts, market research analysts, material movers, network and computer systems administrators, proofreaders/copy markers and writers/authors. 

7) LIVING FOR THE CITY:

2015 is a good time to be on the hunt for a job, depending on where you live. WalletHub analyzed the 150 most populated cities across the country. The company looked at a number of labor and socioeconomic factors including: job opportunities, employment growth, benefits and housing affordability. Seattle, Washington gets the crown for the best job market in the country. Following Seattle on the list was Des Moines, Iowa; Gilbert, Arizona; Sioux Falls, South Dakota and Freemont, California. On the flip side? Moreno Valley, California; Detroit, Michigan; Hialeah, Florida and Memphis, Tennessee ranked as the worst job markets in the country. Dead last on the list? San Bernardino, California.

 

8) SEARCHING:

Now that you have more insight into the workforce, it's time to begin your job search. Try starting online. Job sites such as Monster.com, Indeed.com and CareerBuilder.com are good resources. If you upload your resume, employers will be able to see your resume and match your profile to an open position. Don't upload your resume and hope the jobs will all come to your inbox. You should be actively searching for a job as well! When using the job sites, save your search terms so you don't have to enter your specifications every time you are online. Sign up to have the job alerts sent to you via email. Social networks are also a popular way to find jobs. According to the 2014 Jobvite Job Seeker Nation Survey, 76% of social job seekers found their current position on Facebook. The survey says LinkedIn is where job seekers do most of their job seeking activity; while Twitter is the most popular place to ask others for help and advice.

9) LIAR, LIAR:

Finding a job can be tough and scammers know that. To trick people searching for jobs, "fake companies" advertise where real employers and job placement firms do. You shouldn't be asked to pay money or supply your credit card/bank information to get a job. The Federal Trade Commission (FTC) also says to watch out for ads for previously undisclosed federal jobs. Information on federal jobs is free and all federal positions are listed on usajobs.gov. If you've been targeted for a job scam; file a complaint with the FTC:
https://www.ftccomplaintassistant.gov/#crnt&panel1-1

10) THE TRUTH

If you're having a tough time finding a job, you may want to use an employment agency. These companies work to match employers with suitable employees. The FTC says many job placement services are legitimate, but others lie about what they’ll do for you, promote outdated or fake job openings, or charge up-front fees for services that may not lead to a job. In fact, they might not even return your calls once you pay. Make sure you research the company before using them. Check with the Better Business Bureau to see if there are any complaints. Get all of the details on your agreement with the company in writing. Who pays for the service? Is it you? Or the company that hires you?  Also find out if the service you are paying for is job placement or job counseling. Some companies offer job counseling services and charge thousands of dollars in fees. With some companies, job placement is not guaranteed.

11) WORKING DAY AND NIGHT:

Networking is often the key to landing a job. The more you put yourself out there, the better chance you will have of connecting with someone that may help you with your career. According to the 2014 Jobvite Job Seeker Nation Study - 4 in 10 job seekers have found their favorite or best job through personal connections. Join organizations related to your profession and attend meetings often. Go out of your way to meet people and establish relationships. If you aren't on LinkedIn, sign up! LinkedIn is the largest professional social networking site and a good way to search for jobs and connect with people. 

12) PRIVATE EYES:

Remember those Facebook shots of you chugging beer in Cancun? What about your outspoken comments about race relations on Twitter? Your online presence could hurt your chances of finding a job. A recent survey from CareerBuilder found that 52% of employers use social networking sites to research job candidates, up significantly from 43% last year and 39% in 2013. 48% of hiring managers who screen candidates via social networks said they’ve found information that caused them not to hire a candidate. The top two pieces of content that turned off employers were provocative or inappropriate photographs and information about a candidate drinking or using drugs. Be wary of what you post online - we don't want it coming back to haunt you.

13) SHOW ME WHAT YOU GOT:

Now it's time to prepare in case you land an interview. Take an inventory of your skills, experience and accomplishments. You will need the information when interviewing with companies and networking. The information can also be used to spruce up your resume. Have at least two interview outfits ready, in case you are called in more than once to interview at the company. In a previous edition of SAVED BY BELL, I wrote about the do's and don'ts before, during and after job interviews. There are some useful tips here!
http://savedbythebellwithlindabell.blogspot.com/2015/05/the-art-of-job-interview.html

14) LET'S WORK: 

You may be able to deduct some of your job hunting expenses on your federal income tax return. The Internal Revenue Service says there are seven things to keep in mind:
 

1.      To qualify for a deduction, your expenses must be spent on a job search in your current occupation.

2.      You can deduct employment and outplacement agency fees you pay while looking for a job in your present occupation.

3.      You can deduct amounts you spend for preparing and mailing copies of your résumé to prospective employers as long as you are looking for a new job in your present occupation.

4.      If you travel to look for a new job in your present occupation, you may be able to deduct travel expenses to and from the area to which you travelled.

5.      You cannot deduct your job search expenses if there was a substantial break between the end of your last job and the time you begin looking for a new one.

6.      You cannot deduct job search expenses if you are looking for a job for the first time.

7.      In order to be deductible, the amount that you spend for job search expenses, combined with other miscellaneous expenses, must exceed a certain threshold. 

For more information on job search expenses, visit the IRS website: 

http://www.irs.gov/uac/Job-Search-Expenses-Can-be-Tax-Deductible 

15) SO EMOTIONAL:

When you lose a job, it's very easy to get depressed. Make sure you deal with your emotions. Reach out to your spouse/partner or a friend to discuss your feelings. Use the opportunity to spruce up your skills. If you can afford it, go to school or take online classes. Udemy offers a massive catalog of online courses, many of which are free. Try to stay positive and keep active!




You've just been SAVED BY THE BELL!!

 

"Savings by the Bell #1"

Who doesn't want to save money?  It's time for Savings by the Bell -  a special installment of SAVED BY THE BELL where we take a look at five ways you can save some cash. Let us know if the advice works for you!
 

SAVINGS BY THE BELL
 

 1) CREDIT CARD BABY:

Have you ever seen a dog chasing its tail? Paying the minimum amount on your credit card bill is the same thing. You won't get anywhere in your battle to pay down debt. Unless you're seriously short on cash, it NEVER makes sense to pay the minimum. Let's say you have a $700 credit card bill. The interest rate on your card is 15% and you've opted to pay the minimum payment of $15.75 every month. If you continue to pay the minimum, it will take 71 months or 6 years of get rid of your debt! In that time, you will pay $354.09 in interest. That's 50% of the original bill! Paying interest is just like throwing your money away. Think about it - what could you do with $354? Interested in seeing how your debt stacks up? Bankrate.com's credit card calculator breaks down the true cost of paying the minimum. You may be surprised!
http://www.bankrate.com/calculators/managing-debt/minimum-payment-calculator.aspx
 

2) MONEY TALKS:
If you're a savvy shopper, you already know you can save money buying store-brand merchandise instead of name-brand products. In many cases, the quality/taste of the items is the same. The 2014 Deloitte American Pantry Survey says nearly 9 out of 10 consumers found several store brands just as good as national brands. Why? Consumers believe they can save money without giving up anything. Let's take instant oatmeal as an example. When I buy a store-brand, I typically get one box with 12 packets for $1.50 or two boxes for $3.00. Compare that to one box of name-brand oatmeal for $3.69. I don't need to tell you which one is the better deal. The Deloitte survey found that a majority of consumers are hunting for savings. 67% of consumers plan their shopping trips around sales; while 86% have a set of brands they consider and purchase whichever one is on sale.

3) SHE WORKS HARD FOR THE MONEY: 

What's better than getting a discount simply because you're an employee? If you work for a company that offers corporate discounts, take advantage of it. A 2012 survey by the Society for Human Resource Management (SHRM) found the majority of HR professionals (55%) said their employees highly or somewhat valued the discounts. 32% of respondents say they used at least one employee discount a year. The SHRM says the top five employee discounts include computer hardware/software, health/wellness services, goods and services at a specific retail store, entertainment tickets and the organization's own goods and services. I recently took advantage of a 15% phone service discount offered by my employer. I also purchased software and saved $60 with my corporate discount. The savings can certainly add up!


4) PENNY FOR YOUR THOUGHTS:
Do you have loose change in your pocket? I rarely give the exact change when shopping, unless the cashier asks for it. My husband and I put all of our loose change in jars. When the containers are filled up, we go to the Coinstar coin counting machine at the local grocery store. This is a great way to save money, without realizing it. The most change we saved at one time was $600! Once you cash in the money, what should you do with it? While you may want cold hard cash in your pocket right away, that may not be the best move. If you use Coinstar, the company charges a service fee of almost 11%. Want to avoid the fee? Coinstar allows you to redeem the coins for an eGift card for free. The cards can be used for a wide variety of businesses including clothing stores, restaurants, ecommerce and more. Your card will print out on paper, but works just like a plastic gift card. The card has a unique code printed on it and you use the code when paying in the store or shopping online. You can also choose to donate your money to charity. The American Red Cross, the Humane Society of the United States and UNICEF are some of the charitable organizations that have partnered with Coinstar. The donation is 100% tax deductible. Don't want to go the Coinstar route? Some banks offer free coin counting machines if you're a customer. Otherwise the bank will be charge a usage fee.

5) LOYAL:

Want to be rewarded for shopping? Then sign up for a store's rewards/loyalty program.  You can get deals or free items that "regular" shoppers won't get. Programs can range from a discount card at the supermarket - to a loyalty punch card at the car wash. A recent survey by Capgemini says the average household in the U.S. has over 21 loyalty memberships. Many rewards programs are free; however paid programs typically offer more savings and deals. Please don't go overboard shopping! A discount is not an excuse to shop. The Capgemini survey found that 97% of loyalty programs rely on transactional rewards, i.e. a customer makes a purchase and takes their points in exchange for gifts, cash or merchandise. Take my advice: you get the most savings when you aren't "working" for it.

You've just been SAVED BY THE BELL!

"Preventing Credit Card Fraud"

 

Anyone can be a victim of credit card fraud. A 2014 Global Consumer Fraud Survey by Aite Group found that 27% of all cardholders - debit, credit and prepaid - have experienced card fraud in the past five years. It turns out; we aren't very smart when using our credit cards! The Aite survey says that 49% of global consumers exhibit at least one risky behavior, which puts them at a higher risk of financial fraud.  Don't be a victim! SAVED BY THE BELL has some tips to keep you safe.

The credit card system in the United States is a goldmine for thieves! The U.S. is the last major market still using magnetic stripes. Those cards can be copied very easily. Much of the rest of the world uses chip card technology.  Chip cards are payment cards that have an embedded chip. Every transaction is unique; giving consumers advanced security for in-store payments. The cards are also more difficult to counterfeit or copy. The technology is based on a global card payment standard called EMV, currently used in more than 80 countries. What does EMV stand for? It's named for its backers: Europay, MasterCard and Visa. There are more than 2.5 billion chip cards issued across the globe. Have you seen the cards? Take a look:

EMV Card

To find out more about EMV cards, visit http://www.gochipcard.com/

 

WILLING AND ABLE:
Where does the United States rank when it comes to global credit card fraud? The Aite Group survey said the United Arab Emirates had the highest rate of fraud globally, followed by China, India and the United States. One of the reasons the United States ranks high on the list, is because our country hasn't fully adopted EMV technology. Get ready, the secure system is coming soon. Banks have an October target date to start issuing new credit cards embedded with the microchip. However, many banks have already started distributing cards with the EMV technology to customers. But despite the October target date, a majority of retailers say they aren't prepared. According to a recent survey by ACI Worldwide, just 12% of retailer respondents said they are already compliant. Only 19% say they are confident they will meet the October deadline. Small businesses also have some work to do. A survey by Intuit found that only 42% of small businesses plan to make the switch.

SAVED BY THE BELL QUICK TIP:

Countries implementing EMV have reported a decrease in card fraud. However, even after the EMV technology fully rolls out in the United States, credit card fraud will not disappear. Many merchants will still use terminals that accept magnetic stripe cards for years after EMV has partially been rolled out. So what changes will you notice when shopping? You will no longer have to swipe your card. Instead, you will dip your card into a terminal slot and wait for it to process. This means the transaction time will take a bit longer than you're used to. We will have more on EMV technology in a future installment of SAVED BY THE BELL.


THROWING IT ALL AWAY:
Have you ever thrown away bank paperwork or account information in the trash? If you have, shame on you! 24% of people in the Aite Group survey admitted to doing so - making it the riskiest behavior exhibited by global cardholders.

SAVED BY THE BELL QUICK TIP: 

Don't throw away sensitive documents in the garbage! Invest in a good quality shredder.  Make sure you shred your credit card and bank statements. In fact, I shred all credit card receipts and any documents with my name on it. Don't forget to shred old credit cards as well. What kind of shredder should you buy? Cross-cut shredders are a good choice because of their affordability and durability. In this case, bigger isn't better. The *smaller* the cut pieces, the higher the security.  I don't recommend buying strip-cut shredders. They do exactly what they say: shred the document in strips. You've probably seen it in the movies: a determined thief with time and patience reconstructs sensitive documents with only tape. We wouldn't want this happening to you.

 

PROTECTION:

Locking your smartphone should be a no-brainer. However, 20% of respondents in the Aite Group survey admitted to leaving their smartphone unlocked. Do you conduct financial transactions on your smartphone? Think about it - if your phone was lost or stolen, anyone could get a hold of your personal information.  A recent survey by Javelin Strategy & Research found that almost 1-in-4 bank customers say they primarily use a mobile device to access a checking account.

 

SAVED BY THE BELL QUICK TIP:

If you haven't set up a screen-lock password for your smartphone, do it now! The same goes for your pc/tablet/laptop.  Having trouble choosing a password? Now is the time to be creative. Earlier this year, SplashData released its annual worst passwords list. Stay away from simple numerical passwords such as "1234." The word "password" also held the top spot on the worst passwords list. Some other tips: don't use your birthday or your birth year and make sure you have antivirus software installed on your computer.

 

I MADE A MISTAKE: 

So - you did the right thing and picked a PIN number that no one could easily identify. The problem is, even you can't remember it!  So, you put a note with the PIN number on your debit and credit card to remind you. Big mistake! The Aite Group survey found that 11% of respondents admit to making a note of their PIN number and keeping it with the card. 

SAVED BY THE BELL QUICK TIP:

Keeping your PIN number with any card is very dangerous - especially a debit card! If your debit card is lost or stolen, you could lose all of the money in your account. That could be thousands of dollars! Acting fast limits your liability for charges you didn't authorize. According to law, federal law limits your liability for a lost or stolen debit card to only $50. However, you have report the loss within two business days after you realize your card is missing. Your liability jumps to $500 if you report the loss after two but before 60 days. If you report the loss more than 60 days after the statement is sent to you - sorry to say, you will lose all of the money in your account. That's why I never use a debit card when shopping. With a credit card, your liability for a lost or stolen card tops out at $50. However, if you report the loss before your credit card is used, the law says you are not responsible for any charges you didn’t authorize. If your credit card number is stolen, but not the card, you are not liable for unauthorized use. How can you be safe? As a preventive measure, keep a close eye on all of the accounts tied to the card. If you use the card often, check the balance at least once a month to make sure the activity is normal.

 

I WANT HER:

Have you ever received an email similar to this? "Dear Mr. or Mrs. Bank Customer - XYZ bank values your business! During our regular update and verification of internet bank accounts, we could not verify your current information. Please update your information by clicking on this link." Don't fall for scams like this! The Aite Group survey found that 7% of people responded to an email or phone call seeking bank information.
 

SAVED BY THE BELL QUICK TIP:

If you get an email like this, the first thing to do is nothing. Don't click on the link, no matter how authentic it may seem. Some scammers make their websites look like the real ones, so it's easy to be fooled. You should verify the authenticity of the email by contacting the bank as you would normally. 

 

UNPROTECTED:

Do you use public Wi-Fi? A recent survey from the Identity Theft Resource Center found that 75% of respondents used public Wi-Fi in coffee shops and restaurants within the last 12 months. While many of us are using public Wi-Fi, we aren't being safe. The Aite Group survey found that 17% of respondents admitted to using unprotected PC's or internet links to shop.

 

SAVED BY THE BELL QUICK TIP:

Public Wi-Fi networks are convenient, but can be unsafe. In fact, a majority of us say we don't feel secure using public networks. The Identity Theft Resource Center says 79% of people believe that using a free public Wi-Fi connection leads to identity theft. Think about it - some don't require passwords to get access or the passwords are in plain view for everyone to see. How can you be safe? Browsing the internet is fine, but don't conduct any financial transactions or use credit cards on a public system.
 

Here are some other credit card security tips you need to know:
 

CHECK IT OUT:
Check your credit report at least once a year to see if anyone has opened unauthorized credit using your name. By law, you are entitled to receive one free report a year from the three credit reporting bureaus (TransUnion, Equifax and Experian.)  So take advantage of it!  

I'VE GOT MY EYES ON YOU:
Beware of skimming! If you hand your credit card to anyone, keep a close eye on it.  The skimmer could be a waiter/waitress or cashier that takes your card to make a legitimate charge. But then, the thief also runs the card through a skimmer - a device which stores the credit card information. The thief will then use the stolen information to make fraudulent charges. This doesn't mean you should be mistrustful of any waiter/waitress that takes your card. You should just be observant. Victims of skimming typically don't notice the theft until they check their credit card statements. The best way to detect if your card has been skimmed is to closely monitor the accounts.

SIGN YOUR NAME:
Some credit card receipts have a blank line for the tip. Don't leave any blank lines open! If you opted to give the waiter/waitress a tip in cash; draw a line through any blank spaces above the total.

MAKE THE WORLD SAFE: 

Before charging anything online, make sure the page of the website where you enter your card information begins with "https" rather than just "http." The "s" stands for secure. Your credit card information is at risk of being stolen if the site is not secure.

KEEPING TRACK:
If your wallet was stolen, you need to be able to quickly cancel all of your cards. Keep the information on all of the accounts in a safe or another secure place in your home.

DO YOU SEE WHAT I SEE?

Whenever entering your PIN number at the checkout counter or ATM machine, shield the pin pad from any onlookers. Use your body or hand to block anyone from seeing what you are typing. 

VACATION: 
If you plan to use certain credit cards on vacation, let the card issuers know you will be traveling. How are they supposed to know you are vacationing in Barbados? If the card companies notice any out the ordinary activity, they will suspect theft and decline the charges. We want that to happen if someone steals your card, but not when you are on vacation.

WE DON'T NEED IT:
Do you get a lot of credit card offers in the mail? It's possible someone could steal your mail and open credit in your name. The Federal Trade Commission says you can opt out of receiving offers for 5 years or permanently. To opt out, call 1-888-567-8688 or visit www.optoutprescreen.com. The three nationwide credit reporting companies (Equifax, Experian and TransUnion) operate the phone number and website.

You've just been SAVED BY THE BELL!!