Money Sense Tips

If you own a computer and utilize the internet daily, you have undoubtedly heard of the term “phishing.”  This word relates to bogus emails that are meant to tap into your personal information.  More recently (and since the economic crisis), emails are being sent “by banks” requesting that you “update your information” or saying that “there is a problem with your account” or “there has been suspicious activity in your account.”

Does this sound familiar?  If so, there is a new round of emails making their way across the globe.  One claims to be from JP Morgan Chase, who just purchased Washington Mutual.  The other claims to be from Wachovia who was acquired by Wells Fargo.  These emails are FAKE.  Do not, under any circumstances, open these emails.

If you receive an email supposedly from either bank, delete it.  And depending on whether you have an account with either one – check your account by typing in the URL to said bank.

According to AARP’s November 1, 2008 Bulletin, look out for this email:  “…the subject line reads, “Account review — Chase Team identified some unusual activity in your account.” In the other, it reads, “You have 1 new ALERT message.”  Both tell their targets to click on a link that takes them to a phony website, where they are asked to update their bank accounts by revealing personal information, including bank account number, PIN and Social Security number.”


The email supposedly from Wachovia is just as bad.  AARP states that “recipients are told to download software for its “Wachovia Security Plus” protection.  But doing so releases a virus that could infect your computer and track passwords and other personal information.”

If you are involved in any online banking and/or pay bills online, it should be noted that no bank or credit card company would ever ask for personal information – ever.

Another scam you may or may not have been aware of is the AOL Scam.  AOL was purchased by Time Warner several years ago.  Therefore, if your cable service is being supplied by Time Warner, the monthly bill will reflect the AOL monthly charge.  If you receive an email claiming to be from the AOL billing department stating that there is a problem with your account and it needs to be updated – delete it!

In addition, anytime you receive an email from AOL, you will know it is real because it is distinctive.  AOL will NEVER ask for your account number or any other personal information.

If you are an AOL user and receive email from eBay or PayPal stating any of the above, forward the email to spoof@ebay.com or spoof@paypal.com.  You will immediately receive a response indicating that you were the victim of “phishing.”

Remember, delete any email from anyone you do not know.  And if something sounds fishy, it probably is!

It may sound ludicrous to start a home-based business during a recession, but in fact it is the perfect time. Why? Because at a time when most businesses in every sector are laying off thousands of people because they cannot meet their payroll, a home-based business can ultimately fill the void.

What do we mean? If your business is service-oriented – that is, you are a computer technician, healthcare professional, writer, web-site designer, translator, or a senior care service, general house cleaner, there are individuals who need your services during this time, and in turn you are providing assistance to fill a basic need.

==>>Tips for Starting your Home-Based Service Business

Okay, while web-site designers may not fall within the realm of basic needs, they do serve a useful purpose for businesses that may have had to reduce their company size and have no one knowledgeable enough in this area to continue the maintenance of the site.

The point is, even if you start a part-time business as a writer – particularly writing article content for websites which sell products – you can make a sufficient amount of money to supplement your income.

Not yet convinced? Let’s take a look at another example. Setting up a small home-based errand service business wherein you can provide help to seniors and others is another opportunity than can yield substantial profits. You can also set up a part-time business offering care to seniors.

Perhaps you live in an urban area where seniors make up a majority of the residents. During these difficult economic times, they may not be able to afford to take taxis to and from the doctor’s office or may be unable to venture out for groceries or pick up their prescription medications. Your business could be invaluable to them.

Even during a recession, people continue to go about their daily lives working, buying food, paying bills, writing letters, communicating on the internet. If your business is designed to meet the most basic needs of your clientele, you can make more than enough money to put away and have available to you when needed.

Think about starting a home business in an area where you can not only help others, but your family as well.