HomeMy WebLinkAboutThe Citizen, 2019-02-07, Page 11THE CITIZEN, THURSDAY, FEBRUARY 7, 2019. PAGE 11.
Three financial literacy lessons at an early age
NC –From spam e-mails to fake
government workers asking for
personal information on the phone,
scams are all around us. Some are
more obvious than others, but do
you know how to protect yourself
from the sneakier ones?
Here are some warning signs for
both online and offline scams:
• Wire transfer:Many scams
involve a request to wire money
electronically using a money
transfer service like MoneyGram
and Western Union, or using
cryptocurrency such as Bitcoin.
Remember that sending a transfer
through these services is like
sending cash — once the amount is
picked up, it’s almost impossible to
get your money back.
• Unsolicited friend requests on
social media:Don’t accept friend
requests from people you don’t
know. Does their profile look fairly
empty or have posts that are very
generic? Do they seem to be
promising more than friendship?
These are some red flags that point
to a scam. Delete that request.
Check your privacy settings to
ensure your profile is protected.
• Spelling mistakes:Be skeptical
of e-mails, messages or websites
that contain misspelled common
words, grammar errors that make it
difficult to read or expressions that
are used incorrectly. E-mail and web
addresses should also be examined
closely to see if there are subtle
mistakes or differences.
• Unsolicited calls: You might get
a call from someone claiming that
you have a virus on your computer,
or that you owe taxes or there has
been fraudulent activity in your bank
accounts.
Know that legitimate
organizations will most likely not
call you directly. Don’t take any
chances. Hang up and call the
organization yourself using the
number from a trustworthy source,
such as the phone book, their
website, or even invoices and
account statements.
NC –We all want our kids to be
safe, happy, healthy and successful.
One critical way to help them have a
great future is to teach them about
finances and how to take care of
their money and savings. Here are
three lessons experts recommend
sharing with your kids.
• Protect your information:
Bank accounts and credit cards are
vulnerable to hacking and identity
theft, especially in our digital age. In
fact, every year, thousands of
Canadians lose millions of dollars to
fraudsters.
Teach your children to never
provide their personal or financial
information over the phone, via text
message, e-mail or the internet when
someone asks for it unsolicited.
• Shop online securely:
Depending on their age, your child
may already be doing some
shopping online, even if it’s just
buying a new character or setting in
an app or video game. Educate them
on the importance of using a secure
connection – like their home Wi-Fi
or cellphone data – as well as setting
strong passwords and checking with
a trusted adult to make sure it’s safe.
• Trust your instincts:Part of
understanding the value of money is
being able to spot a great deal. But
shocking offers, unbelievable
discounts and unreal rates may
signal that the offer isn’t quite what
it seems. Ridiculously low prices
usually equal cheap products or
counterfeit goods. Free offers may
require providing your credit card
for shipping. Small tactics like these
can lead to big profits for scammers,
so it pays to trust your instincts –
anything that sounds too good to be
true usually is.
Scams? Watch for the red flags
Pennies make pounds
When it comes to financial sense and literacy, it’s never too young to start teaching. From
being responsible online to instilling good instincts, here are some tips to start children off on
the right foot when it comes to their money. (News Canada photo)
Many people plan for life events such as weddings and vacations well in advance, but many
people do not plan for something that is certain to happen, their funeral. The primary advantages
of pre-arranging your funeral is to relieve the burden on your loved ones in an already emotional
time, and to ensure your funeral is carried out according to your wishes. Pre-planning and pre-
paying your funeral is one of the most thoughtful gifts you can give to your family. Pre-payment
also protects you and your family from inflation, and the growth is non-taxable.
Pre-Planning...
One of the best gifts you can give
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Benefits of Pre-Planning
• Between 70 and 75 decisions are made within the first 24-48 hours of death. It’s difficult to
think rationally while making so many decisions within days of losing someone, pre-planning
gives yourself, family and friends peace of mind. Pre-planning gives your loved ones
direction of your wants and desires.
• It’s easy. Anyone can do it, and you can change your mind at any time.
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Get information on
Huron County attractions on the
“Stops Along The Way”
website at
www.stopsalongtheway.ca