Posts Tagged ‘Credit card’

Save Money on Back-to-School Shopping

Tuesday, September 1st, 2009

NEW YORK - MAY 20: In this photo illustration...

Backpacks and notebooks and clothes, oh my! It's that time of year, and wallets are being stretched thin all across the land. I was happy to hear about a terrific post on back-to-school shopping, aimed at Canadian parents, over at parentcentral.ca.

Staff reporter Madhavi Acharya-Tom Yew offers these tips for keeping the budget under control when you hit the stores:

°    If you shop with your kids, get them involved.
Have them help make the list and determine the budget. Then show them
that to stick to it, you need to make some choices along the way.

°    Put down cash, instead of credit. If you must
use a credit card, the stick to just one. “That’s really going to curb
your ability to spend,” says said Jeffrey Schwartz, executive director of Consolidated Credit Counseling Services of Canada. “If you’ve got five credit cards
in your pocket, you have more opportunity to spend.”

°    Spend no more than what you can pay off within a month or two, if you must use credit.
Many consumers still don’t realize that by slapping that purchase on a
credit card and only paying the minimum, you may end up paying as much
as three times what it actually cost.

Check out the post for many more great tips. Then wander around this website for lots of great parenting information. Good stuff here.

If Your Kid Loses His Wallet…

Thursday, January 15th, 2009

A picture of a wallet.In addition to a driver's license, teens today carry many of the same things adults carry in their wallets: credit cards, debit cards and other items that shouldn't fall into the wrong hands. Like their parents, teens need to know what to do if their wallet or purse is lost or stolen — and they need to act quickly if it does go missing.

A lost or stolen wallet or purse is a gold mine of information to identity thieves. If your wallet or purse is missing, follow these guidelines from the U.S. Federal Trade Commission:

  • Cancel your credit, debit and ATM
    cards
    immediately.
  • Get new cards with new account numbers.
  • Call the fraud departments of the
    major credit reporting agencies.
  • Ask each agency to put
    out
    a fraud alert on your accounts.
  • Report the loss to the fraud department
    at your bank.
  • Review your credit
    reports regularly
    and have them corrected when necessary.
  • Report
    a missing driver’s license to your state’s
    department of motor vehicles.
  • If
    your keys are missing, change the locks on your home
    and car.
  • File a report with the police department and keep a copy.

Something we've done at our house to make things a bit easier if we lose a wallet: copy the contents of the wallet on a copier — both front and back of each card. That way we won't forget what we had in the wallet in the event of a theft. Makes it easier to (ugh) make those phone calls to banks, etc.