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Vehicle Mechanic

News

Here’s a piece from CBS News

in Richmond Virginia about

how easy it is to steal and use

someone else’s credit card.

 Reviewing bank statements is now a nightly ritual for one Midlothian couple after hundreds of dollars were taken from their account, shortly after the data breach that hit major stores like Target last year. Alison Markow tells CBS 6’s Lorenzo Hall that she thought her husband, Brant, was keeping a secret. “It wasn’t me. I was not buying stuff and getting into trouble that way. I was assuring her that I was not in Reston going shopping or anything,” Brant said. Actually, hackers obtained their credit card information and went on multiple shopping sprees in Reston. “I felt very violated, I guess, that someone had my information and I didn’t know what other information they had besides my credit card number,” Alison said. couple Then months later, the Markows still don’t feel safe, even though companies have taken major steps to keep your money safe with new anti-theft technology. New technology sounds great, but CBS 6 went to find out how these stores hold up against the simplest form of theft, when someone just steals your card and swipes it at the register. In recent weeks, CBS 6 News has reported on a number of thieves taking debit and credit cards and then spending hundreds of dollars. To find out if using a credit card that’s not yours is as easy as it seems, Hall handed three cards to our CBS 6 Interns, Krista Willard and Matt Leonard. interns One card has a picture on the front, another has no signature and the third, has “check ID” written on the back. “I’ve used other people’s credit cards to buy stuff before. I mean, not ones that were stolen,” Leonard said. CBS 6 traveled to nearly a dozen stores, chosen at random across central Virginia. Stores like Kroger, Target, Pleasants Hardware and Walmart allow you to swipe your own card, with no mechanism in place to catch thieves. Pleasants and Kroger only require a cardholder’s signature after a certain amount of money is spent. Target said your card must be flagged by your bank or credit card company first for them to notice. We also tried stores that actually handle your card and swipe for you. Using the card with no signature first, Leonard was able to freely make purchases at Mongrel in Carytown and Chick-Fil-A. “He just seemed rushed and didn’t seem too worried about it,” Leonard said. When he tried the card with “Check ID” at Buzz and Ned’s and Sugar Shack, the cashier’s did check, but still went through with the sale, even when he couldn’t produce a matching ID. “I said, ‘It’s not my card.’ She asked whose it was and I said, ‘My friend’s,’” Leonard said. Willard got the same reaction at Arby’s, Lamplighter Coffee and Traveling Chic Boutique. Using a card with a picture that clearly doesn’t match, Krista was never questioned. “I figured because of the picture there was a greater chance, it was a little riskier that she would say something, but, I don’t even think she flipped the card over and looked at it,” Willard said. CBS 6 News

Here’s a piece from

gobankingrates.com about

how how to get free money

from banks

 Anyone looking for a little free money this summer should consider cashing in on a banking trend that’s becoming increasingly commonplace. Eager to capture a percentage of the consumers who are idly considering switching banks each year, financial institutions across the country are paying customers hundreds of dollars for their summer bank promotions– all just to open an account with them. According to the World Retail Banking Report 2013, just 10 percent of bank customers report they’re likely to change their bank within six months. With new business in low supply — but high demand — banks are having to find new and inventive ways to increase their customer base. Their solution? Offer cash-back bank promotions for customers who open a deposit account or similar product. Why Are Banks Giving Away Free Money? The thing is, it’s working. Amandio Sena, senior vice president of the consumer banking division of Santander Bank — the largest bank by assets in Massachusetts – told The Boston Globe the bank has experienced a 20 percent increase in checking accounts since introducing a free money incentive when customers open a checking account. “The product continues to be very popular with our customers,” Sena told GOBankingRates. “They love the flexibility to decide when and how to spend their $20 monthly bonus — or whether to just leave it alone and watch their nest egg grow.” Household checking and savings accounts increase the assets and total deposits of a bank, building its value as a financial institution and its ability to make investments. More importantly, the fees earned on deposit accounts are a significant source of revenue for any bank; the average checking account comes with over 30 potential fees, according to The Wall Street Journal. The benefit to the consumer is obvious. The Corporation for Enterprise Development found that 127.5 million Americans — more than 40 percent of the country — are liquid-asset poor. With the Fed keeping interest rates near record lows, a savings account isn’t always enough to make it from paycheck to paycheck. But cash-in-hand could help many consumers cover basic expenses or finally have enough money to start an emergency fund. gobankingrates.com

Here’s a blurb about how

reverse mortgages have now

become a good financial tool if

you’re retired.

Reverse mortgages have advanced Columnist says that formerly risky reverse mortgages have become a good financial tool for the retired; GNMA funds get praised for someone looking for a relatively low-risk investment. Q: I am receiving numerous sales calls for reverse mortgages. Please tell me about the downside to this program, if there is one. A: Historically, reverse mortgages have had two major drawbacks. First, they were relatively expensive in closing costs, insurance cost and interest rate. Second, most of the people who took them out shouldn’t have. Recent reforms have reduced the costs for reverse mortgages. New regulations have limited the amount of the loan value that a borrower could take out in the first year. The problems with reverse mortgages came about because they were often given to people who had no other assets, were in debt, and really needed to rethink their shelter needs rather than borrow. The result was that borrowers would take out the maximum amount and then fail to make tax and insurance payments. This put the lenders in a tough place. But if you are retired, healthy and not dead broke, new research indicates that a reverse mortgage can be what they were hoped to be — another tool for managing retirement income and spending. One thing that contributes to the use of reverse mortgages is that the money borrowed is tax-free, since it is your home equity. Added withdrawals from retirement accounts, on the other hand, can be burdened with high tax rates. Q: My wife and I (both 37) have saved up close to $100,000 for our emergency fund and other “short term” goals like replacement vehicles (current vehicles are seven and 12 years old) and home repairs. While we don’t need this money immediately, we are planning to use the car and home money sometime in the next five years. With that in mind, I know it isn’t prudent to invest it in equities, but it pains me to watch it sit in the bank earning next to nothing. Is there something with reasonable risk like corporate or muni-bonds that I should look into putting the money in until it is needed? Where do I start looking? A: To get any yield worth talking about, it is necessary to take some risk. So the real question for you is how much are you willing to risk in order to get some amount of yield today? GNMA funds — the funds that invest in pools of government-guaranteed mortgages — are interesting because their yield has historically been higher than their effective maturity would lead you to expect. Two well-known low-cost, no-load funds are good examples. The Fidelity GNMA fund (ticker: FGMNX) has a current yield of about 2.5 percent. Vanguard GNMA Admiral shares (ticker: VFIJX) is another example. This fund also yields about 2.5 percent and has a relatively short effective maturity. Morningstar ranks both of these funds five stars, and both have consistently ranked in the top 20 percent of GNMA funds or better. The risk here appears to be about a year of interest income. By Scott Burns for the Seattle Times

Here’s a piece from al.com

about how how seniors can

get cheap auto insurance

The cheapest auto insurance for senior citizens is very much of a real concern for most elderly consumers. The senior citizen living within limited financial means have to depend on personal mode of transport as they cannot take the fast paced public transport. The advanced ages increase the driving risks for most senior citizens. The cheapest auto insurance for senior citizens is easily available for the well informed consumers. Rising age related physical hardships are usually the cause of higher car insurance premium for many senior citizens. Granted, they are much more experienced than the young and rash car owners and car drivers but auto insurance companies have to consider many aspects to determine premiums. The less costly car insurance for senior citizen makes special significance when they have to rely on limited financial resources. The elderly car owners and car drivers with a good driving history benefit from less costly car insurance costs. The cheapest car insurance for senior citizens is from the online auto insurance companies and service providers. The online application form is simple and quick to key in with little personal information. A senior citizen of any age can make do with this simple and easy way to buy their cheaper online car insurance policies. The senior citizen finding it difficult to take advantage of the public transport system due to advanced age stick to their own personal vehicle. The financial safety covers in such cases play a very important role in providing financial security. The government has plenty of programs to aid senior citizen, which can only benefit them in times of need if they have bought it previously. The best auto insurance for senior citizens has the lowest car insurance premium for the age group of 60-75. An older car owners and car drivers or senior citizen above 75 may suffer from deteriorating eyesight and slower reflexes while driving in unknown areas. The older car owners and car drivers know the importance of driving carefully and keeping their personal vehicle in tip top shape. This prevents many accidents and mishaps which normally occur to younger generation due to their carelessness. The auto insurance companies expect much fewer or no claims at all from senior citizens which result in cheaper policies. al.com
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“With the advent of the Internet getting the best rates on financial services and products is easy. Here we show you how.” Taylor Arnold

News

Here’s a piece from CBS News

in Richmond Virginia about how

easy it is to steal and use

someone else’s credit card.

 Reviewing bank statements is now a nightly ritual for one Midlothian couple after hundreds of dollars were taken from their account, shortly after the data breach that hit major stores like Target last year. Alison Markow tells CBS 6’s Lorenzo Hall that she thought her husband, Brant, was keeping a secret. “It wasn’t me. I was not buying stuff and getting into trouble that way. I was assuring her that I was not in Reston going shopping or anything,” Brant said. Actually, hackers obtained their credit card information and went on multiple shopping sprees in Reston. “I felt very violated, I guess, that someone had my information and I didn’t know what other information they had besides my credit card number,” Alison said. couple Then months later, the Markows still don’t feel safe, even though companies have taken major steps to keep your money safe with new anti-theft technology. New technology sounds great, but CBS 6 went to find out how these stores hold up against the simplest form of theft, when someone just steals your card and swipes it at the register. In recent weeks, CBS 6 News has reported on a number of thieves taking debit and credit cards and then spending hundreds of dollars. To find out if using a credit card that’s not yours is as easy as it seems, Hall handed three cards to our CBS 6 Interns, Krista Willard and Matt Leonard. interns One card has a picture on the front, another has no signature and the third, has “check ID” written on the back. “I’ve used other people’s credit cards to buy stuff before. I mean, not ones that were stolen,” Leonard said. CBS 6 traveled to nearly a dozen stores, chosen at random across central Virginia. Stores like Kroger, Target, Pleasants Hardware and Walmart allow you to swipe your own card, with no mechanism in place to catch thieves. Pleasants and Kroger only require a cardholder’s signature after a certain amount of money is spent. Target said your card must be flagged by your bank or credit card company first for them to notice. We also tried stores that actually handle your card and swipe for you. Using the card with no signature first, Leonard was able to freely make purchases at Mongrel in Carytown and Chick-Fil-A. “He just seemed rushed and didn’t seem too worried about it,” Leonard said. When he tried the card with “Check ID” at Buzz and Ned’s and Sugar Shack, the cashier’s did check, but still went through with the sale, even when he couldn’t produce a matching ID. “I said, ‘It’s not my card.’ She asked whose it was and I said, ‘My friend’s,’” Leonard said. Willard got the same reaction at Arby’s, Lamplighter Coffee and Traveling Chic Boutique. Using a card with a picture that clearly doesn’t match, Krista was never questioned. “I figured because of the picture there was a greater chance, it was a little riskier that she would say something, but, I don’t even think she flipped the card over and looked at it,” Willard said. CBS 6 News

Here’s a piece from

gobankingrates.com about how

how to get free money from

banks

 Anyone looking for a little free money this summer should consider cashing in on a banking trend that’s becoming increasingly commonplace. Eager to capture a percentage of the consumers who are idly considering switching banks each year, financial institutions across the country are paying customers hundreds of dollars for their summer bank promotions– all just to open an account with them. According to the World Retail Banking Report 2013, just 10 percent of bank customers report they’re likely to change their bank within six months. With new business in low supply — but high demand — banks are having to find new and inventive ways to increase their customer base. Their solution? Offer cash-back bank promotions for customers who open a deposit account or similar product. Why Are Banks Giving Away Free Money? The thing is, it’s working. Amandio Sena, senior vice president of the consumer banking division of Santander Bank — the largest bank by assets in Massachusetts – told The Boston Globe the bank has experienced a 20 percent increase in checking accounts since introducing a free money incentive when customers open a checking account. “The product continues to be very popular with our customers,” Sena told GOBankingRates. “They love the flexibility to decide when and how to spend their $20 monthly bonus — or whether to just leave it alone and watch their nest egg grow.” Household checking and savings accounts increase the assets and total deposits of a bank, building its value as a financial institution and its ability to make investments. More importantly, the fees earned on deposit accounts are a significant source of revenue for any bank; the average checking account comes with over 30 potential fees, according to The Wall Street Journal. The benefit to the consumer is obvious. The Corporation for Enterprise Development found that 127.5 million Americans — more than 40 percent of the country — are liquid-asset poor. With the Fed keeping interest rates near record lows, a savings account isn’t always enough to make it from paycheck to paycheck. But cash-in-hand could help many consumers cover basic expenses or finally have enough money to start an emergency fund. gobankingrates.com

Here’s a blurb about how

reverse mortgages have now

become a good financial tool if

you’re retired.

Reverse mortgages have advanced Columnist says that formerly risky reverse mortgages have become a good financial tool for the retired; GNMA funds get praised for someone looking for a relatively low-risk investment. Q: I am receiving numerous sales calls for reverse mortgages. Please tell me about the downside to this program, if there is one. A: Historically, reverse mortgages have had two major drawbacks. First, they were relatively expensive in closing costs, insurance cost and interest rate. Second, most of the people who took them out shouldn’t have. Recent reforms have reduced the costs for reverse mortgages. New regulations have limited the amount of the loan value that a borrower could take out in the first year. The problems with reverse mortgages came about because they were often given to people who had no other assets, were in debt, and really needed to rethink their shelter needs rather than borrow. The result was that borrowers would take out the maximum amount and then fail to make tax and insurance payments. This put the lenders in a tough place. But if you are retired, healthy and not dead broke, new research indicates that a reverse mortgage can be what they were hoped to be — another tool for managing retirement income and spending. One thing that contributes to the use of reverse mortgages is that the money borrowed is tax-free, since it is your home equity. Added withdrawals from retirement accounts, on the other hand, can be burdened with high tax rates. Q: My wife and I (both 37) have saved up close to $100,000 for our emergency fund and other “short term” goals like replacement vehicles (current vehicles are seven and 12 years old) and home repairs. While we don’t need this money immediately, we are planning to use the car and home money sometime in the next five years. With that in mind, I know it isn’t prudent to invest it in equities, but it pains me to watch it sit in the bank earning next to nothing. Is there something with reasonable risk like corporate or muni-bonds that I should look into putting the money in until it is needed? Where do I start looking? A: To get any yield worth talking about, it is necessary to take some risk. So the real question for you is how much are you willing to risk in order to get some amount of yield today? GNMA funds — the funds that invest in pools of government-guaranteed mortgages — are interesting because their yield has historically been higher than their effective maturity would lead you to expect. Two well-known low-cost, no-load funds are good examples. The Fidelity GNMA fund (ticker: FGMNX) has a current yield of about 2.5 percent. Vanguard GNMA Admiral shares (ticker: VFIJX) is another example. This fund also yields about 2.5 percent and has a relatively short effective maturity. Morningstar ranks both of these funds five stars, and both have consistently ranked in the top 20 percent of GNMA funds or better. The risk here appears to be about a year of interest income. By Scott Burns for the Seattle Times

Here’s a piece from al.com

about how how seniors can get

cheap auto insurance

The cheapest auto insurance for senior citizens is very much of a real concern for most elderly consumers. The senior citizen living within limited financial means have to depend on personal mode of transport as they cannot take the fast paced public transport. The advanced ages increase the driving risks for most senior citizens. The cheapest auto insurance for senior citizens is easily available for the well informed consumers. Rising age related physical hardships are usually the cause of higher car insurance premium for many senior citizens. Granted, they are much more experienced than the young and rash car owners and car drivers but auto insurance companies have to consider many aspects to determine premiums. The less costly car insurance for senior citizen makes special significance when they have to rely on limited financial resources. The elderly car owners and car drivers with a good driving history benefit from less costly car insurance costs. The cheapest car insurance for senior citizens is from the online auto insurance companies and service providers. The online application form is simple and quick to key in with little personal information. A senior citizen of any age can make do with this simple and easy way to buy their cheaper online car insurance policies. The senior citizen finding it difficult to take advantage of the public transport system due to advanced age stick to their own personal vehicle. The financial safety covers in such cases play a very important role in providing financial security. The government has plenty of programs to aid senior citizen, which can only benefit them in times of need if they have bought it previously. The best auto insurance for senior citizens has the lowest car insurance premium for the age group of 60-75. An older car owners and car drivers or senior citizen above 75 may suffer from deteriorating eyesight and slower reflexes while driving in unknown areas. The older car owners and car drivers know the importance of driving carefully and keeping their personal vehicle in tip top shape. This prevents many accidents and mishaps which normally occur to younger generation due to their carelessness. The auto insurance companies expect much fewer or no claims at all from senior citizens which result in cheaper policies. al.com
house in hands picture hand hoding credit cards picture