Check out the 5 financial tips for the last week of June 2011:
Tip no 1 - Do not give easy-to-guess passwords while banking online
When you create accounts in several bank websites, make sure you give strong passwords. This is because the scammers/identity thieves can easily crack the easy passwords. Thereafter, they can get access to your account easily and drain all the money.
For example, don't include your name, birth date, phone number, spouse's name, etc. in your password. People can easily guess these kinds of passwords. You can use a popular proverb or a phrase as your password. To make it more strong, you can capitalize the third or fifth letter of the password. Your password should be of minimum 8 characters.
Tip no 2 - Get contact information of all witnesses following a car accident
After a car accident, you should always take contact details of all witnesses so that they can narrate the actual incident to your insurance company. It can be said that these witnesses can help you claim the required coverage amount from your insurance company. If the accident was not due to your fault, these witnesses can even narrate that to the claims representative, who'll interview the witnesses to know exactly what happened. It is advisable that you note down the contact details of the witnesses who're willing to co-operate with you so that you get the required coverage amount from your insurer.
Tip No 3 - Hide your credit card PIN while swapping it
It is better to hide the credit card PIN while swapping it in the ATMs. This is because hidden cameras are often installed by the scammers in the ATMs. Once the scammers get hold of the card PIN, they will use it for their financial benefit. You should check the ATM carefully. Find out whether or not there is anything odd in the ATM. If the wires of the ATM are coming loose, then it is better to not use that processor. You should also avoid using those ATMs which are located in the desolate places.
Tip no 4 - In order to control your finance first understand where you are
You need to evaluate your financial situation carefully to know where you stand. Otherwise, it will be impossible to solve your financial problems. You need to locate the main cause of the problem and work on it. You can do that by checking your credit report. Go through your credit report to find out find out the negative items on it. If there are too many delinquent accounts on your credit report, then start making payments on your debts. If there is any mistake on your credit report, then you should contact the credit bureaus and let them know about it.
Tip no 5 - Stop to shop, when your budget drops
If you're unable to stay within your budget because of your overspending habits, then you need to restrict your shopping endeavors. In case, you have to re-schedule your budget to meet your necessary expenditures, then you'll have to limit your shopping endeavors. Buy only those products which you really need. Avoid purchasing branded items or luxury items.
For example, if you need to attend a dinner party next Friday, then there is no need to purchase a brand new designer dress. You can borrow a dress from a close friend of yours easily. Your friend will surely not mind. You can wear that dress in the party and look gorgeous.