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Top identity theft scams on the rise

Did you know that in 2020 alone, the Federal Trade Commission (FTC) received nearly five million fraud reports from consumers? And while we hate to be the bearer of (more) bad news, that statistic does not include those consumers who may not have realized they had experienced fraud, meaning the number is probably even higher. One of the top categories of reported fraud is identity theft, which is becoming more of an issue as we venture further into the digital age. So how do you avoid becoming an identify theft scam’s next victim? In this case, information is power—so read on to learn how to recognize some common identity theft scans.

Prizes, lotteries, and contests

We’ve all gotten those spam texts that congratulate us for entering a contest we don’t remember signing up for, complete with a link to click on to claim our prize. Read carefully: never click on strange links.

Even if you just click on one of these fraudulent links without entering additional information, many of these website and services have the ability to gain valuable information that is stored elsewhere—like on your Google Chrome account or from your Facebook app. If you do click on a link by mistake, exit ASAP and monitor your credit and other activity to ensure your personal info stays safe.

Password passivity

It’s hard to keep up with all your passwords—between social media, email, job-related resources, and even your home alarm keycode, you probably feel the need to keep your passwords simple and easy to remember. But you should know that using these simpler passwords makes it easier for scammers to gain your personal info—especially if you don’t change your password often.

Create passwords that don’t include your birthday, kids’ names, favorite pet, or your mother’s maiden name—this is all info that anyone can look up online. Instead, create passwords that are difficult to guess and include a lot of variables, like capital and lowercase letters, numbers, and special characters. Bonus: you can use an online password storage system to help you out… just be sure to change your password to whatever service you use.

Unsolicited calls or emails

Raise your hand if you have gotten at least three calls today about your car’s supposed warranty expiring. The rate of spam calls has risen dramatically over the last few years, and while many of us know better than to trust the person talking about a nonexistent warranty, you should also know that many spam callers are working smarter to get you to take their call.

For instance, many spammers now use a local number that will increase the odds of you answering the call. Spammers also use email to personalize messages to you that seem legit enough to stay under the radar of your system’s spam filter. Use your common sense for these—if you didn’t purchase a “car warranty,” it can’t have expired. Send those calls to voicemail and then block the number or hit the “mark as spam” button and delete any weird emails you receive.

High-pressure communicators

You’re on LinkedIn when you get a private message asking you to consider a job opportunity. The person’s profile seems legit, Googling the company yields some results, but something about the message doesn’t ring true. Before you can answer, the person messages again, telling you that you must decide quickly. This is a red flag situation—legitimate potential employers will not ask you to decide on a job online within a matter of seconds.

These high-pressure tactics are also used by some spam callers who try to convince you that your social security number has been compromised or that you are under arrest and the police are on the way. If you’re not sure about the legitimacy of a caller or messenger, ask for their info to call them back (which they will probably not give) and do some research on your own. If it feels wrong, trust your instincts.

Ignoring data breaches

As much as we wish it didn’t happen, data systems can fail, sometimes leaving your information vulnerable. When this happens, the company who was breached will contact you or post a public announcement, but it’s up to you to update and secure your information, usually by changing a password. Even reputable businesses can experience data breaches, so don’t think you don’t have to take a threat seriously just because you feel confident in the business.

While you may not think that a data breach from your favorite pizza place matters, consider how many times you have ordered online from this restaurant, and whether your credit card info may be stored in their data. Small issues can turn into big ones when it comes to strangers having access to your finances.

Scams designed for kids

It seems especially wrong to scam a child, but, unfortunately, it’s been known to happen. Even older kids don’t always understand that a nice person asking them for personal information may have bad intentions, so it’s important to talk to your kids about what kind of info they should share with strangers.

If your child enjoys playing online games where purchases can be made, lock down the accounts as much as possible to avoid being defrauded by another player. Even features like the chatrooms available on many games can be used as avenues to gain personal info, so monitor your kids’ chats (or turn the feature off) to make sure they are not oversharing.

It may seem like identity theft is inevitable—but it doesn’t have to be. You can take steps to ensure the safety of you and those around you by implementing some simple safeguards. Change your passwords often, don’t answer sketchy calls, always double check that your emails are from a legitimate source, and get into the habit of treating your personal information like the invaluable resource it is. Not saving passwords on websites might seem unnecessary now, but the potential of undoing a web of financial fraud makes these extra steps worth it.

How to sell items on Facebook Marketplace like a pro

Ah, Facebook Marketplace. It is a vast, exciting world that can either leave you celebrating a huge success or nursing a feeling of total frustration. But if you play your cards right, you can find yourself navigating the ups and downs of Facebook Marketplace like a pro. Keep reading to learn how you can be a selling success.

Follow the rules

This may seem obvious, but Facebook does have certain guidelines in place that sellers must adhere to. These guidelines aren’t very strict, but breaking a rule can land you in Facebook Marketplace jail, possibly for good, so it’s critical to understand the expectations of the Marketplace. Following the rules will also show potential buyers that are a legitimate seller who will follow through with a sale agreement.

Read the room

You may find that your local Marketplace page has a different demographic than the page meant for your entire county. Or maybe you will see that people on one Marketplace page expect you to respond immediately to any questions, while members of another page are content to wait a day or two. While you don’t have to change your selling practices to conform to your expectations, you should be aware of what may make or break a sale.

Beware of trolls

Facebook does its best to keep spammers, scammers, and those people whose only goal seems to be total anarchy out of the Marketplace. But you will still probably run into a spammer or scammer who tries to pay you in gift cards or asks you to send the item you’re selling before you receive payment for it. Be smart and check out potential buyers for their validity before committing to a sale or giving out any information. If the situation doesn’t feel right, walk away—it’s much better to be safe than sorry in these circumstances.

Know your worth

If there is one thing that buyers on the Marketplace are skilled in, it’s the ability to haggle about a price. Before you post anything for sale, decide how much you want for your item, and make a decision about how much (if any) you are willing to lower the price. As long as you’re offering a fair deal, you don’t need to feel pressured to agree to a lower price, especially if it’s unreasonable.

Update the status of your items

There is nothing worse than finding the perfect item on Facebook Marketplace and offering to buy it, only to find out the item was sold months ago. If you sell an item, change the price, or the condition changes, update your original post to avoid any confusion. This will help cement your status as a reliable seller, and also increase the odds that a buyer will continue to purchase from you. Be honest about each item—if the condition is fair, say so. Your buyer will find out the truth either way.

Respond, reply, react…

It’s frustrating for a potential buyer to reach out to you on your post or through a private message and not receive an acknowledgement of any kind. You don’t have to spend all at staring at your phone to make sure you respond immediately to every message, but do your buyers the courtesy of acknowledging their communication and reply to them in some capacity. Even if it is just “liking” their comment on your post until you can write a longer reply later, taking that small step will help your buyers know you’re serious.

Follow through and communicate

If you agree to sell an item to a buyer, it’s really important that you follow through with the sale. Aside from developing a reputation for being an unreliable seller, if you don’t follow through with sales, you will never, you know, sell anything. Make a plan to exchange the item for the money requested, and then stick to that plan with as few changes as possible. Sometimes you can’t avoid certain circumstances, like a traffic jam due to an accident on the interstate, so in those cases it’s also important to update your buyer about when you can meet and why it didn’t work out the first time.

Meet in public

Selling locally on Facebook Marketplace has its perks, because you know the area well and can cater your sales to the demographic nearby. But when you meet up with someone to complete a sale, always choose to meet in a public place with a lot of people around. Police station parking lots are a great choice, and you can also consider meeting outside of a busy store or at a public park that you know will be crowded. This is safety 101, and we urge to place your safety first for all of your transactions. Be sure to mention to a friend or family member where you plan to go and when you should return so they can check in with you as needed.

Facebook Marketplace is easy to use, as long as you put in the effort required. Make your posts clear and concise, communicate often and honestly, and remember that safety is just as important as making the sale. Your unused items are someone’s treasure, so start posting today and enjoy the extra cash.

Back-to-school shopping: Five tips to save big

Shopping for school supplies can seem daunting. Between the varieties of notebooks, pens, pencils, folders, and more, the choices are overwhelming—and expensive. Let’s face it—no one wants to spend $40 on notebooks that will more than likely be thrown away in nine months. But, there are more ways to save on supplies besides your typical coupons. Try these tips to make your back-to-school shopping a breeze.

1. Find what you already own

Before venturing out to partake in the craziness of back-to-school shopping, look around your home for what you already own. If you already have hundreds of pens, pencils, markers, or crayons, there’s no need to purchase more when you have plenty at your disposal. Plus, you’ll avoid the dreaded begging for the unnecessary 64-pack of crayons—because who needs 64 crayons? No one, that’s who.

2. Wait until you receive a definite list

Avoid back-to-school shopping until you have a definitive list of the school supplies you need. Waiting until you know what supplies your kids need will not only save you the hassle of purchasing anything unnecessary but also prevents you from overspending—kids don’t always need every single item on their list. After school starts, have your child ask their teacher if there are any items they won’t need. By knowing exactly what you need to purchase, you can then take the time to research which stores have the best deals, plus determine a budget.

3. Purchase supplies after school starts

Try to shop for the majority of your supplies after school starts. It’s okay to purchase any essentials before the school year begins, but do the bulk of your shopping the week after school starts. Most stores typically put their remaining supplies on sale, allowing you to make the most out of your money. However, most of the supplies will likely be picked over. If you find an item that is well priced, then go ahead and purchase it because it may not last until it’s time to be put on clearance. If you’re not picky, then wait until stores are desperate to get rid of their remaining school supplies stock.

4. Price match

Dozens of major retailers price match competitors. Retailers want to prove that they have the lowest prices around, so if you’re back-to-school shopping and realize you can purchase something elsewhere for cheaper, ask for a price match. Typically, all you need to do is show the competitor’s ad or use your phone to show where you found a better price. However, most stores won’t price match on items that are on clearance or BOGO. But, retailers differ on their price match policies, so check to see what they will or will not allow.

5. Stock up if you can

If you can, purchase some supplies in bulk. You’ll save yourself from making multiple trips, and you can use supplies the following school year, which ultimately saves you money. Items like pencils, pens, folders, and composition notebooks are great to buy in bulk. However, remember to research where to find the best deals and compare prices per unit to ensure you’re getting the most out of your money.

These tips are sure to make your school supply shopping a piece of cake and help you find everything you need to make this school year the best one yet! Back-to-school shopping doesn’t always need to be a hassle—make the most of your school supply shopping today by switching to a Georgia’s Own Visa® contactless credit card. When you open a new Georgia’s Own Visa Signature®, Platinum, or Student Visa, you could earn up to $150, making back-to-school shopping that much more rewarding.*

*Promotional period begins April 1, 2021 and ends December 31, 2021. Open a new Georgia’s Own Visa Signature® card and spend $1,500 in the first three months of account opening and earn 19,500 points, which can be redeemed for $150 in cash back. Open a new Georgia’s Own Visa® Platinum card and spend $1,000 in the first three months to receive 13,000 points, which can be redeemed for $100 in cash back. Points will be applied within two billing cycles if the account is in good standing. Offer may be withdrawn without notice.

Lake season: Nine things you need to know before buying a boat

The sun is out, which means it’s time for one of our favorite summertime activities: lake days! If you are hoping to while away many of your days on your favorite local lake, you might even be thinking about buying a boat. Before you take the plunge—pun intended—below are nine things you need to know before buying a boat.

1. See if a boat is in the budget

The first thing you need to do is determine whether you can afford a boat at all, and if you can, how much boat you are willing and able to buy. This will narrow down a lot of the choices you have to make during the rest of the purchasing process. If you have questions about budgeting for big expenses like a boat or questions about financing your dream boat Georgia’s Own is available to help you in your decision-making process.

2. Talk to current boat owners

Doing some online or in-person research is never a bad idea, but you can’t beat personal experience when it comes to deciding which boat is right for you. Ask those friends and neighbors who are always on the lake to help you get started on your boat-buying journey. They can offer a lot of insight on what you need, what you want, and what isn’t worth your money.

3. Always start with safety

Going on a boat means spending time on the water, which means you need to ensure everyone who will be on the boat is able to do so safely. If your boat will be primarily used for your family, it’s time to invest in swimming lessons for those who are able to take them. For those who aren’t—and for everyone who will set foot on your boat—you will need to make sure you are following local laws for life jackets and other safety requirements.

4. Choose your boat carefully

If you didn’t even realize there were multiple types of boats to choose from, it’s okay—but you do have some decisions to make. What do you want to use your boat for? Are you spending lazy days on the lake? Will you be fishing a lot? Are you hoping to go viral on the Internet with a well-timed backflip on some water skis? Answering these questions will help you decide which kind of boat is the best fit for you.

5. Know the costs

You should be aware that the cost of a boat goes beyond just the purchase of the boat itself. Boats require maintenance, supplies, a place to dock or a trailer to take it to the lake—and all these things will cost you. Go ahead and factor those costs into your boat budget before making any final decisions. Fears about boat maintenance should not hold you back from getting a new boat, but they are important to consider. Georgia’s Own is available to help you in your decision making process to determine the best boat for your financial future!

6. Consider your options

A new boat obviously has some appeal. It’s shiny and brand new—and more expensive. A previously owned boat may be a better deal, so be sure to consider all of your purchasing options. With a used boat, you run the risk that the previous owner did not maintain it well, so you will have to weigh all of the choices to decide where and how you want to spend your money.

7. Treat it like a house

We’re not suggesting you say goodbye to your family and move into your boat forever, but we are suggesting that you treat your boat purchase as seriously as you would the purchase of a home. Inspect your boat closely before buying it. That means opening compartments, sitting in the driver’s seat, and conducting a thorough search to ensure that this boat is both safe and has will check all of the boxes on your perfect boat list.

8. Get insurance

Did you know boats need to be insured? It’s true, and you will not want to skip this part of the purchasing process. You can ask your current car or homeowners insurance provider if they provide boat insurance or if they can point you to a trusted source that can. You should also consider asking your fellow boat owners about the insurance they have and any tips they can pass along.

9. Take it seriously

Boats are fun. Being on the lake is fun. In general, it’s all a lot of fun. But this is a serious investment you are preparing to make, so don’t just focus on the fun – focus on making sure that you are getting the best value for your money and that the boat you buy will suit your purposes well. Once that is squared away, it’s time to go back to the fun.

If you are hoping to set sail this summer, we wish you the best! Take some time to research which boat is right for you and how much boat you can afford, and then enjoy your time on the lake as you float by on your new investment. And remember, Georgia’s Own is here for all of your boat-lending needs—click here to learn more about our boat loan offerings.

Wedding saving tips: What to do, what not to do, and how to budget

Wedding season is here, and for those couples on a budget, you may be wondering how to have a big day without spending in a big way. We have some tips on how you can create the perfect moment of matrimonial bliss without going over your budget (and maybe even while staying under it).

Consult the experts

By experts, we mean bridal magazines and websites. There is no shortage of resources available to you by professionals whose job it is to plan beautiful weddings for a small amount of money. Look for these tips and make a list of your own— compare and contrast ideas, see which suggestions pop up most often, and keep an open mind about solutions you might not have otherwise considered. A lot of the work is already done for you, courtesy of these publications, so get to Googling for the best tips.

Talk to your friends

The odds are high that you know of someone who has gotten married within the last year or two. This is the perfect chance for you to ask for their help. Neither of you has to share your budget if you’re not comfortable doing so, but they can give a better idea of current flower prices and which bridal salon is offering the best deals. They can also give you insider tips on locations and what they did to save their pennies beforehand. Everyone’s wedding has a budget—some of them may be large; others are small, but even the grandest wedding can be scaled down to fit your needs.

Look ahead

We don’t want to step on any toes but do take the time to consider your wedding day versus the rest of your life. While weddings are wonderful events, they are also the start to something much more wonderful: your marriage. Keep this perspective in mind as you make financial decisions for your big day. In ten years, will you still remember going with the less expensive catering service? If so, that’s okay—everyone has different priorities. But at the end of the day, the highlight for most couples is that they finally get to begin their lives together.

Choose a less popular day

Fun fact: Saturday evening weddings are by far the most expensive weddings. This is because Saturday evening is the most highly-desired ceremony time for many couples, and venues charge a premium for reserving these dates. Look for other options, like a Friday evening or a Sunday afternoon. You can even take it a step further and get married in the middle of the week if you’re feeling really crazy. Be sure to avoid holiday weekends, as these also tend to drive up venue prices. Choosing a less popular day means choosing a less expensive day—and it all goes back to your budget!

Location, location, location

There are many gorgeous wedding venues in the area, but there are also a lot of equally beautiful options that don’t cost money to use. For instance, if some local friends have a large backyard, you might consider using it for either your ceremony or your reception. Do some research on how you could use your favorite park for your ceremony to keep the outdoor feel without the price tag. You can make any venue beautiful with some simple decorations, so look for the potential in each place you visit.

Don’t use so many fresh flowers

Flowers are wonderful and picking them out for your wedding is especially fun. Unfortunately, flowers are often expensive, too. Talk to your florist about adding a few fresh flowers to your bouquets and make the rest of them yourself out of silk flowers from your local craft shop. This combination will allow you to have a stunning look in your décor that keeps you well within your budget needs. Bonus: those silk flowers will last forever, which means you will get to keep your bouquet for as long as you want it.

DIY

If you have crafty friends, now is the time to call on them. Work together with your friends and wedding party to do some DIY projects as a group. You might be able to create your own invitations, make your own cake, and do your own makeup instead of paying a professional, which can add up to big savings. We know it’s a special day, so we aren’t asking you to break out a Betty Crocker box mix for your wedding cake—but you should consider looking for a local friend who could give you a break on the price of the cake if you choose a simple design.

Skip the limo ride

For many brides and grooms, it’s tradition to leave the reception in a big way. This might mean a ride in a limousine, or, if you’re super fancy, maybe a horse and buggy. Either way, consider skipping this step altogether to save a few hundred dollars. If you’re really set on not driving yourself to your post-reception destination, ask a friend to drive you, or look for a car service that offers options within your budget. Leaving in style is fun but having the extra cash to spend on your honeymoon is even better.

There are so many ways to make a wedding great without breaking the bank, so put on your thinking hat and look for creative ways to stay within your financial needs. Make a budget, decide which priorities are the highest for your big day, and plan to have an amazing, finances-friendly wedding that you will remember for years to come.

American Rescue Plan Child Tax Credits: What to expect

The last 18 months have brought about a lot of financial changes, and almost as many financial aid programs as a result. Keeping up with them may seem overwhelming, but we have you covered. Keep reading below to learn more about the American Rescue Plan Child Tax Credit and what it means for you:

What is the American Rescue Plan?

Much like the stimulus funds that most Americans received over the last two years, the American Rescue Plan is a similar process of getting funds to people to aid in times of financial crisis. You can find all the details you want (and more!) at the Treasury website, which outlines answers to many frequently asked questions.

How much do I get?

It’s okay—you can ask! The American Rescue Plan clearly outlines the amount that will be distributed: up to $1,400 for individuals, $2,800 for couples, and an additional $1,400 for each dependent in the household. Unlike the previous stimulus payments, dependents are defined as anyone you claimed as a dependent on your tax returns, not just children 17 and under.

There is another change to this plan that distinguishes it from previous stimulus packages: the expansion of the Child Tax Credit. While this credit was not created for the American Rescue Plan, it was expanded under the plan. Now, the credit has been raised to $3,600 for children under age 6, and to $3,000 for children under the age of 18.

When will I get the money?

The IRS announced that they will begin sending monthly payments to disperse the funds beginning July 1, 2021, and lasting until December 31 of 2021. The IRS is creating an online portal to allow eligible people to make any necessary changes or updates, like adding a child who was recently born so the IRS knows to adjust their credit amount accordingly.

This credit is best thought of as an advance of sorts, because the 2021 tax filing season on which the credit is based will not occur until 2022. However, payments will continue from January through June of 2022 to ensure families receive a year’s worth of funds.

This amount will vary for each family—the monthly payments are meant to disburse the funds based on how much each child is eligible to receive. For instance, the benefit could be worth up to $300 per child per month if each child is under the age of six as of December 31, 2021. Again, each family’s amount will be different, but you can figure out your monthly payment based on the ages and number of your qualifying children.

How do I know if I’m eligible?

You probably are—an estimated 90% of Americans are eligible for the updated Child Tax Credit benefits. If you meet the following qualifications, you can receive the credit:

• An adjusted gross income of $75,000 for individual taxpayers
• An adjusted gross income of $112,500 for heads of household
• An adjusted gross income of $150,000 for married taxpayers filing jointly, and widows/widowers

While no one is sure yet if the credit will be extended beyond its initial run, some have proposed that the credits continue until 2025, but nothing has been finalized in this regard. The IRS has stated that they plan to create a public campaign that will ensure that everyone understands any updates as they become available.

Do I have to pay back the money?

Like the previous stimulus funds, you will not have to pay back any money—unless your information is out of date. For instance, if you a child who aged out of the eligibility last year but have not filed your 2020 taxes to reflect that, you may be overpaid by the IRS, and you would be expected to repay the excess amount next year. Be sure to keep your tax returns updated with the latest information to avoid any confusion or overpayments.

No one could have predicted the events of the last couple of years, but it’s safe to say that there are some solutions to struggles on the horizon. If you’re still not sure whether you qualify for the Child Tax Credit or what it means for your family, we’re always here to help. Reach out with your questions and learn what this credit means for you.