GREENPATH NEWSLETTER
MAY 2014
Some Money Saving Motherly Advice for Mother’s Day GreenPath recognizes the importance that mothers play in our lives. And while money will be spent on Mother’s Day flowers, candy and gifts this May 11, GreenPath counselors have compiled some motherly advice that has helped make their own lives a bit less expensive. From smart consumerism to saving and investing, it turns out mom knew what she was talking about. Here are five money mom tips:
Used can be as good as new! “My mom instilled in me the love of a great deal and, to this day, I refuse to pay full price for anything! Last year I was set on purchasing a $700 vintage-inspired metal crib for our nursery. We scoured Craigslist and found a very similar style — I ended up paying only $80. Woohoo!” – Amanda, W.
The best things in life are free “When you know you are going out with your friends, suggest other outings to the park or library. Keep your cash at home! – Stephanie C.
“My mom taught me the best things in life are free and not bought at a store. Going for a bike ride or spending the day at a public park were the activities that filled my childhood. I appreciate that I can draw satisfaction from simple things and continue to keep this outlook into my adult life.” – Katie M.
Sound advice, worthy of a tweet Be careful with co-signing on loans “You should think twice (or better yet, 49,238 times), before co-signing on any type of financing for your kids or other family members. If they don’t make the payments, you may not find out until it affects your credit!” – Emily R.
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“Don’t spend money you don’t have.” – Dianne R.
GreenPath salutes all the mothers who, over the years, have taken the time to educate their children about the importance of managing money in their everyday lives. Happy Mother’s Day!
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GREENPATH NEWSLETTER
Michaels Arts and Crafts Discusses Security Breach
If you shopped at Michaels Stores between May 8, 2013 and January 27, 2014, you should review the following information provided by the outlet: Michaels CEO Chuck Rubin said that the attack targeted a limited portion of stores, and that only a small percentage of payment cards used in the affected stores were impacted. The analysis conducted by security firms and the Company shows that approximately 2.6 million cards may have been impacted, which represents about 7% of payment cards used at Michaels stores in the U.S. during the relevant time period. GreenPath reminds consumers that they need to take four steps immediately after learning they are victims of identity theft. 1.
Place a ‘fraud alert’ on your credit reports, and check your credit reports regularly through www.annualcreditreport.com. Fraud alerts can help prevent an identity thief from opening any more accounts in your name. Contact the toll-free fraud number of any of the three consumer reporting companies below or visit their websites.
TransUnion: 1-800-680-7289; www.transunion.com Equifax: 1-800-525-6285; www.equifax.com Experian: 1-888-EXPERIAN (397-3742); www.experian.com 2. Close any accounts that you believe have been tampered with or opened fraudulently. Call and
speak with someone in the security or fraud department of each company. Follow up in writing, and include copies (NOT originals) of supporting documents. Send your letters by certified mail, return receipt requested, so you can document what the company received and when.
3. File a complaint with the Federal Trade Commission. You can do this on their website www.ftccomplaintassistant.gov/ or by calling the FTC’s Identity Theft Hotline 1-877-ID THEFT (438-4338); TTY: 1-866-653-4261. Be sure to call the Hotline to update your complaint if you have any additional information or problems. 4. File a report with your local police or the police in the community where the identity theft took place. When you file your report, bring or attach a copy of your FTC ID Theft Complaint form and any supporting documentation. Ask the officer to attach or incorporate the ID Theft Complaint into their police report. The FTC ID Theft Complaint, along with the police report, can constitute what is known as an ‘Identity Theft Report.’ This Identity Theft Report can be used to (1) permanently block fraudulent information from appearing on your credit report; (2) ensure that debts do not reappear on your credit report; (3) prevent a company from continuing to collect debts that result from identity theft; and (4) place an extended fraud alert on your credit report.
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