6 Entertainment Options That Won’t Break Your Budget

By Pam Reiss

As the saying goes, “a penny saved is a penny earned.”  You work hard for your paycheck but, if you’re like many of us, you’re amazed at how little you’re able to save every month.  Especially now, with the rate of inflation as high as it is, and many people still reeling from the past two years, finding ways to save even a little more is important.  It may be to save for a vacation or wedding, college tuition, a new car, or for a rainy day fund, or any other reason.

Entertainment is an important part of our lives.  It gives us a much needed and deserved break from the work week and other routines.  It also lets us enjoy our friends and family – many of whom we may not have seen recently.

So, the question becomes, how do we entertain ourselves without breaking our budgets?  Going out for dinner or happy hour, taking in a movie, or enjoying a concert are always fun activities, but you can easily run up a huge tab if you’re not careful.  That doesn’t mean you can’t have a good time without spending a pretty penny.  There are a wide range of activities you can enjoy with your friends and family, while keeping your finances in check and making the most of what you earn.

Here are a few cost-friendly entertainment options and tips to consider, so you can stay committed to your savings plan and still enjoy some quality down time.

Bring the party home

Meeting up with friends for a drink is a pretty common activity.  Why not save a few bucks and have happy hour at home?  There are several ways you can do this, which will make sure you enjoy that end-of-the-week stress relief with your friends, without a high bar or restaurant tab.  Consider having you friends over to enjoy drinks and snacks or dinner much more affordably.  To even out the food and beverage costs, try making it a recurring event and rotate it between each household.  Or, you can make it a BYOB and/or pot luck meal.  You can even split the cost and have friends reimburse you with a P2P payment app.  Just because you’re hosting doesn’t mean you have to bear the entire cost.

Skip the theater and rent a VOD movie

Everyone loves to check out a new movie once it hits theaters, but that can get expensive.  Ticket prices alone have gone up over the years, and adding popcorn, candy, and drinks into the mix can really add up – especially with fancier food and beverage options in many of today’s theaters.  Luckily, most major releases these days can be accessed via on-demand or on streaming services, so you can watch the same movie from the comfort of your home.  You may have to pay for some, but others are being released on streaming platforms as they come out in theaters.  Even if you have to pay for it, it’s typically not much more than the cost of one movie ticket.  But, you’ll also save on snacks, beverages, and parking.

Take advantage of admission promotions

Most areas have a great assortment of museums, art galleries, aquariums, zoos, and festivals throughout the year.  Yet, so many people don’t realize they have access to these locations or events for free or at reduced rates.  Even festivals that charge entry fees often provide an entire day’s worth of activity – often outdoors.  Consider checking out one of these options as an alternative to your usual entertainment lineup.  You may be able to find coupons or other savings through your local paper, social media, or other websites.  Sites like Groupon and others often have good deals on group activities.

Break out the board game collection

We’re always looking for existing activities outside of the house, yet fail to realize most of us have great options in our own closets.  How many board games have you accumulated over the years?  Why not dust them off and enjoy countless hours of fun with your friends or family?  Turn it into a weekly or bi-weekly event, and even have friends bring their games to add to the mix.  There are a wide variety of classic games and many newer ones to choose from.  You can even turn it into a team-based competition, with winner getting a small prize at the end of the “season.”

Embrace the great outdoors

Why spend time indoors when there’s so much to do outside?  If the weather is nice, and you have access to a public park or beach, consider gathering your friends and family for a picnic, volleyball game, frisbee toss or other outdoor games, or just to relax.  Make it BYO-style and, if one you has a portable grill everyone can use, even better.  Think of it as a tailgate without the game or concert (bring a speaker, and you can enhance the atmosphere).  You might even find a park or other public space with access to a grill or fire pit to make it even easier.

Look for local venues

If you’ve bought tickets to a big-name concert recently, you know all too well how high ticket prices have gotten, especially in larger venues.  Look for smaller concert venues and theaters locally.  You may find some great cost-effective options, regardless of what style of music or theater you’re looking for – and you might discover some great talent in the process.

How good of a time you have shouldn’t be dependent on how much you spend.  There’s nothing wrong with splurging on a night on the town or a stadium concert every now and then.  But, most of us can’t afford to do it regularly.  So, keeping both your budget and entertainment needs in mind, think about these and other low-cost options when planning your weekend activities.  You can keep your budget in check and, just as importantly, have a great time.

Should you wait to start saving while you’re still paying off your student loan debt?

To pay it off or to save? If you have student loan debt, you’ve probably wondered whether you should finish paying it off before you prioritize putting away money for retirement, building a rainy day fund, and focusing on other financial goals.

The answer: both! While there’s no one-size-fits-all solution, building savings while you pay down your student debt is an effective strategy for many borrowers.

Here are four reasons why student debt repayment shouldn’t hold you back from saving:

Saving early is key to building a retirement fund.

When it comes to retirement savings, starting monthly contributions as soon as possible is key to maximizing compound interest — or returns on your investments and returns on those returns — over time.

However, 41 percent of millennials cite their student debt as the reason why they’ve delayed saving for retirement. With the average borrower taking twenty years to finish repayment, those who delay saving until their student debt is paid off will miss out on decades’ worth of compound interest.

Even waiting just five years to start saving for retirement makes a significant difference. Case in point: if you save $100 a month in a traditional IRA with a 7% annual rate of return from the time you start working at age 22 until you retire at age 65, you’ll have earned $279,914 in compound interest on top of your monthly contributions. If you don’t start saving until you’re 27, you’ll have earned $183,184 in compound interest— $96,730 less — by the time you retire.

You never know when you’re going to need to dip into your emergency fund.

The pandemic has proven that anything can happen — and building an emergency fund is one of the best ways to prepare for the unknown. Unfortunately, 43 percent of millennials say their student debt has prevented them from starting a rainy day fund.

While paying off your student debt as fast as possible can save on interest over time, you’ll likely wind up wishing you had saved that extra cash if you find yourself unable to afford manage essential expenses — like rent, utilities, groceries, transportation, childcare, and pet food — or pay unexpected bills — whether from a stay in the hospital or car repairs — in the event of an emergency.

Plus, once you’ve set aside the recommended three to six months’ worth of expenses, you’ll feel even more confident pursuing other financial goals knowing you’re covered if the worst were to happen.

Student debt isn’t necessarily bad for your credit score — and it can even help it.

Student debt does impact your credit score — but that’s usually not a bad thing.

While falling behind on your student loan payments can be detrimental to your credit score, making your required minimum payment on time each month can actually give you a boost. And because student loans appear on your credit report as installment loans — just like auto loans and credit cards — having student debt can improve your “credit mix”, which accounts for 10 percent of your score calculation. In fact, your credit score might even experience a slight drop when you finish paying off a student loan.

A good credit score has dozens of benefits, from lower insurance premiums and interest rates and perks like eligibility for premium credit cards to making it easier to rent a house or get a job. All of these factors can make it easier to set aside savings and maintain your overall financial wellbeing.

The Milford Bank can help you balance student debt repayment with savings goals.

For many borrowers, building savings while paying off student debt is easier said than done — but you don’t have to go it alone. The Milford Bank is partnered with Candidly to take the guesswork out of student debt while providing solutions to build long-term financial health.

Whether you want to find ways to lower your monthly student loan payments (and free up cash for savings), explore debt forgiveness programs, or pay down your student debt with cash back rewards and spare change, Candidly has the tools you need to reach your goals. Visit milfordbank.com/other-services/candidly/ to learn more about this value-added service and activate your free account today.

What the Federal Student Loan Payment Freeze Extension Means For You

By Jorge Santiago

If you have federal student loans, you probably already know that emergency payment suspension has been extended to January 31, 2022.

Between recent student loan servicer shakeups, the Covid-19 surge, and 90 percent of affected borrowers saying they’re not prepared to resume payments, the decision to extend the payment freeze beyond September (as previously scheduled) comes as a relief for many borrowers.

But do you know how to use this additional extension to your advantage? Don’t just think of the extension as extra time without federal student loan payments — think of it as extra time to plan, to save, and to get ahead.

Here are some things you can do help put your best financial foot forward until federal student loan payments resume:

Get in touch with your student loan servicer

Contact your student loan servicer to confirm your payment due date, reconnect a payment method to auto-pay your bill, and learn about any new policy changes. If you’ve moved since March 2020, be sure to update your mailing address, too.

If your loans are serviced by FedLoan, Granite State, or Navient, be advised that these servicers have announced that they will transfer their student loans to other servicers before the end of the year. With that in mind, you may want to keep an extra watchful eye out for updates about the transfer in the event that you need to take any action with the new servicer.

Make sure you’re on the best path forward

Now is a great time to explore your eligibility for new federal repayment plans and forgiveness programs.

Switching to an income-driven repayment plan, for example, could lower your monthly payment and get you on track to have outstanding debt forgiven after a certain number of years. If you work for a non-profit, government, or public service organization, you may also qualify for Public Service Loan Forgiveness, which forgives remaining loans after ten years of qualifying payments.

Consider making payments

It may sound counterintuitive, but for some borrowers, the suspension period is the perfect time to make student loan payments.

That’s because the interest rate for federal student loans is still 0%, so any payments you make during the freeze will apply directly to your principal — which can ultimately lead to paying off your student debt sooner.

Get ahead on other financial goals

The average monthly student loan payment is $393 — a major expense that often forces borrowers to delay other financial goals until their student debt is paid off. For example, did you know that more than half of non-homeowner borrowers say their student debt has delayed their ability to buy a home?

Without the expense of monthly student loan bills, now could be the perfect time to get ahead on other priorities like saving up for a down payment, making extra retirement fund contributions, opening an emergency savings account, or setting aside cash for a major purchase.

Learn how The Milford Bank can help

When it comes to student debt, you don’t have to go it alone. The Milford Bank has partnered with Candid.ly, the leading student debt repayment platform, to give customers the tools they need to help make managing their student loans easier than ever before. Visit milfordbank.com/other-services/candidly/ to learn more and activate your free account today.

How to Recognize Scam Calls and Keep Your Money Safe

By Tina Mason

On any given day, you probably get phone calls from numbers you don’t know.  Those dreaded spam calls continue to become more frequent and the total number grew by 18% globally last year.  In the U.S. that growth was even more significant, with Americans receiving an average of 28 spam calls a month (up from 18 a year earlier).

What’s worse is the situation is expanding.  What was once limited mostly to landlines has expanded to mobile phones.  In fact, 46% of Americans said they get spam calls on their cell phones every day in February of this year.

The problem is these calls aren’t just a nuisance; many are from scammers trying to con people into giving up their money.  Unfortunately, it’s working – Americans lost nearly $20 billion due to phone scams in 2020.

The good news is you can avoid falling victim by staying informed about the latest scams (the FTC regularly updates its site with common scams), by knowing how to identify them, and by simply following some best practices.

Auto warranty scams – This one has been going on for years.  It usually starts with a pleasant recorded voice introducing him- or herself and claiming to be from the “Vehicle Service Department” or something similar.  The recording continues to explain that your vehicle warranty is about to expire unless you extend it with them immediately.  They might even have specific information about your vehicle they have obtained through any number of ways.  The warranty these scammers are offering is usually a service contract of some kind that could actually cost you more than you would pay for vehicle maintenance and repairs.

Pyramid sales schemes – These may seem like legitimate business opportunities selling products from your home.  But when you look at them carefully, you’ll see your compensation is based on how many new sales people you recruit, not how much product you sell.  In addition, you will typically be required to buy a certain amount of product, even if you already have enough inventory on hand.  Ultimately, you’re more likely to lose time and money than make a living.

COVID-19 scams – There are several kinds of scams trying to leverage the coronavirus pandemic.  Some try to sell you a vaccine.  If you haven’t yet been fully vaccinated, remember that the COVID-19 vaccine is being administered for free.  You can find a local vaccination site here.  Another scam involves scammers posing as FEMA workers reaching out to cover costs associated with family members that may have died due to COVID-19.  Unless you have already registered with FEMA for their funeral assistance program, they will not reach out to you.  If you get a call or email from someone claiming to be with a government agency, it’s most likely to be a scam you don’t want to get involved with.  And no, your social security number will not be suspended – yet another government-related scam that has been around for a long time.

Utility scams – Have you gotten a call from someone claiming to be with your electric, water, or gas company, claiming your service is going to be cut off unless you make payment immediately?  Again, almost certainly a scam.  Your actual utility companies may threaten to cut you off if you are delinquent on your bills, but they will send notifications – you can also verify your account through their website if you’re not sure.  Or, simply call them if you think you may have missed a payment – in which case you may have to pay a late fee, but they probably won’t threaten to cut off your service yet.

Payment options – One of the things to note is most scammers don’t use the normal payment methods when they try to get you to pay them.  Having you send a check or pay online on your oil company’s site doesn’t get them any money.  They will often ask you to use Western Union of other money transfer services, or some ask you to add money to a reloadable gift card.  More tech-savvy scammers may also want you to pay with cryptocurrency.  They use these methods because they are mostly untraceable making it almost impossible to recover the money.

The bottom line is this: Legitimate businesses will identify themselves clearly and won’t threaten you on the phone.  Most will also work with you to arrange payment plans if you’re experiencing difficulty.

If an offer seems too good to be true – like winning a large cash award from a drawing you didn’t enter, or a get-rich-quick job offer – it probably is.  Never agree to anything before you have done your research.  In fact, many people today don’t even answer phone calls from numbers they don’t know.  That way, they can just delete the phony voice mail messages and, if they think it could possibly be real, can look up the correct phone number (never call back a number given on a voice message you think could be fraudulent) and call the bank, store, service provider, government agency, or whoever the caller claimed to be with.

The same goes for emails.  Don’t click on links, don’t call numbers on emails because they could be fake, and assume offers are fraudulent unless they come from one of your trusted relationships.  Even then, take care to look carefully at email addresses, names, other personal details, as well as grammar and spelling.  Most fraudulent of phishing emails have mistakes in them that should raise a red flag.

Again, if you have any uncertainty, look up phone numbers yourself and make a few phone calls to verify the legitimacy of any call or email you get.  It may take a few extra minutes, but that small effort could keep you, your family, and your money safe.

But, if you make a mistake and think you have fallen victim to a scam, the first thing you should do is contact your bank so they can help you with your bank accounts and make sure your funds aren’t accessible to scammers.

Why Small Businesses and Community Banks are a Perfect Match

By John Darin

May is Small Business Month, celebrating the importance of small businesses to our national and local economies.  Small business owners and their entrepreneurial spirit are a cornerstone of our economy and our local communities.  In Connecticut, they comprise 97% of business and employ half of the state’s workforce.

Small Business Month also recognizes that small businesses have unique needs.  Every business needs a bank and there are certainly several national brands to choose from.  But, just as there are many options for your personal banking, there are local alternatives that may be beneficial for small businesses.

Community banks were instrumental in helping small businesses make it through the COVID-19 pandemic.  Early during the pandemic, when the first round of Paycheck Protection Funding was exhausted, the U.S. Small Business Administration approved more than 1.6 million loans to support small businesses, totaling more than $300 billion.  About 60% of those loans were handled by community banks.

Like small business, community banks are important to the success of local communities and can offer benefits that large national brands can’t.

Personalized service –  When you go into or call a local bank, you’re getting attention from the same people every time – not a call center agent located across the country.  You’ll save time because your bankers know you and your business, creating deeper bonds because they see your business as a personal relationship, not an account number.  As a result, they will go the extra mile to give you personalized attention.

Faster action – Time is money.  As a business owner, getting answers from your bank quickly is important.  Because community banks aren’t spread across the country, their decision-making process is often simpler and faster because it happens locally.

Lower fees – Many community banks offer lower fees or better terms and interest rates than their national counterparts.  For small businesses, every dollar saved or earned makes a difference.

Local for local – Local banks are proud of their local communities and tend to be very active in local activities.  They know the local business and support various organizations and events that support the local economy and benefit both businesses and residents.  This helps build their communities and create a better place to live and work, which help attract new residents and businesses.  As a small business, the local community is important to your success, and community banks play a big role.

Know your customer – Every business is unique.  Personal attention combined with local intimacy also gives community banks a chance to really know their customers and their business banking needs.  As a result, they are able to provide a higher level of care and service that caters to each individual business.  That knowledge can also play into your bank’s decision-making because they are able to factor in what they know about your business, you as the business owner, and the local community.  It becomes about more than just entering data into a formula.

Small Business knowledge – Community banks understand small businesses.  Remember that they are, in fact, small businesses just like you, so they have an inherent first-hand knowledge of what it takes to succeed as a small business.  That knowledge translates into a service mentality designed to help small businesses succeed, rather than trying to force them into cookie-cutter approach designed for large enterprises.

Business services – Community banks have built service portfolios to meet your business needs. They aren’t a one-trick pony and offer a variety of business banking services.  From commercial loans and business lines of credit to retirement and employee benefits management to online banking and much more, don’t think that just because they are smaller, your community bank isn’t well-equipped to serve your business needs.

As a small business, you know you have specific banking needs.  You also know the large national brands aren’t as agile or flexible when it comes to meeting your needs – they can’t be.  So, when you think about your financial needs, remember there are local alternatives to those big brands that can be a much better fit for you.  Find out exactly how The Milford Bank can help your business by getting to know one of our local professionals today to learn how they can help make running your business a lot easier.

Get Rid of Your Old Electronics Safely

Recycling is an important part of our daily lives.  In fact, it’s the law, and there is a list of items that are designated for recycling only in CT and may not be placed in the garbage.  There are many reasons, but among the biggest is the fact that landfills are filling up and could be gone within the next two decades.  There are also environmental hazards associated with landfills when toxic chemicals leak into the soil and air when items aren’t disposed of properly.

Using recycled materials avoids environmental damage from mining, drilling, and harvesting trees. E-recycling, in particular, has become increasingly important – and a major problem.  Often, as people replace old electronics and simply throw their old ones away.  In 2019, the U.S. created almost 7 tons of e-waste (that’s 46 pounds per person), but recycled a mere 15%.  The value of the raw materials in that e-waste is about $7.5 billion.

According to the EPA, recycling 1 million laptops saves enough energy to power more than 3,600 homes for a year.  Recycling also creates jobs.  It’s estimated that, for every landfill job, there are 35 jobs in recycling processing and recycling-based manufacturing.  So, the more we recycle, the more jobs we can create.

One of the problems is people don’t always know where or how to recycle their old electronics.

Every year, as part of its ongoing commitment to the community, The Milford Bank promotes recycling with its Shred & Recycle Days.  The event gives residents an opportunity to easily and safely discard their old e-waste and documents.

The next Shred & Recycle Day is coming soon, from 9:00am to noon (or until the trucks are filled) on Saturday, May 8, 2021, at The Milford Bank location at 295 Boston Post Rd, Milford.

Financial Literacy: Teach Your Children to Save

One of the greatest gifts you can give your child is a financial education.  We all want our children to succeed in life, which means helping them become financially stable.  Once they reach college age and leave the comfort and safety of your home, a solid understanding of banking and financial best practices is critical to helping them avoid getting into debt at an early age.

More than three-quarters of adults live paycheck-to-paycheck, and 40% say they wouldn’t be able to cover a $400 emergency expense.  Looking towards the future, a third of Americans have no retirement savings, and almost a quarter have less than $10,000 saved for retirement.

Saving isn’t easy.  Neither is avoiding debt.  But it can be easier if children learn about banking and finance from an early age.  Currently, fewer than half of U.S. states require high school students to pass a personal finance course as a graduation requirement.  But, parents have to manage finances every month, which gives them an opportunity to teach their children good financial habits.

The American Bankers Association (ABA) understands that financial literacy is critical for children, and since 1997, the ABA Foundation has sponsored its Teach Children to Save program to promote financial literacy to millions of elementary and middle school students.

Today, April 22, is this year’s Teach Children to Save Day.  It’s a free national program that is designed to help young people develop savings habits at early ages and covers topics like saving, financial decision making, interest, banking careers, and more.  The goal of the program is to help children understand the value of saving and develop the knowledge, tools, and skills to make informed financial decisions throughout their lives.  The ABA has created a series of interactive resources for you and your children of all ages (including high schoolers and young adults) to help build their financial literacy.

The Milford Bank also supports financial literacy for children and offers its own Centsible Kids program designed to teach smart money habits to your kids.  The Centsible Kids program includes a free, kid-friendly mobile app – available for both iOS and Android devices – that encourages your children to become financially literate at an early age.  Key features of the Centsible Kids app include:

  • Games that teach financial knowledge and skills
  • Enabling kids to track spending, saving and giving goals
  • Foster positive family conversations around money
  • Allows safe tracking of money virtually without connecting to your actual bank accounts.

We know children pick up habits very quickly.  That means they will pick up good financial habits just as quickly as they will pick up bad ones.  So why not put them on a path to financial success early by helping them develop good savings and spending habits, encourage giving, and giving them a chance to practice their math skills in the process?

To learn more about the Centsible Kids program and app, contact any office of The Milford Bank.

Why Mutual Banks Make Sense

By Jorge Santiago

Mutual banks have been around since the early 1800s.  There are currently about 470 in business across the country and nearly all of them are also classified by the FDIC as community banks.  They were initially created to provide savings opportunities to the working class, something they couldn’t easily get from commercial banks that focused on business customers.  Mutual banks offered individuals a safe place to deposit funds and earn interest, with a tradition of providing quality service to their customers.  Those values remain core to mutual banks today, which lead to several benefits that are passed on to customers.

Corporate Structure

The basic idea behind mutual banks is they are not controlled by stockholders or other direct owners.  Rather, their customers – the depositors that bank with them – are considered mutual owners.  As a result, mutual banks don’t make decisions based on shareholder interests, but focus on how they can deliver maximum value to their customers and support the communities they serve.

Customer Security

Nearly all mutual banks – like The Milford Bank – are insured by the FDIC, and on average, mutual banks have a Tier 1 capital ratio (an indicator of capital security) well above the minimum level and are considered “well capitalized” by the FDIC.  In addition, mutual banks are traditionally conservative when it comes to investments and spending, looking for safe opportunities and avoiding high-risk investments.  It’s one of the reasons mutual banks were almost the only banks that successfully navigated the Great Depression and why they continue to provide a safe banking option today.

Customer Service

Mutual banks have a longstanding reputation for quality service that stems from their focus on depositor value rather than corporate ownership.  Because customers are viewed as owners, serving their needs and delivering a high level of personalized service is their top priority – including a broad service portfolio, convenience, local access, and banking expertise.

Product Breadth

Today, mutual banks offer most of the same services private customers can get from larger commercial banks.  They are investing in digital banking technologies to make banking easier and more convenient, including tools to encourage saving.  They have knowledgeable local staff ready to provide valuable banking information and advice to help customers make responsible financial decisions.

Commitment to Community

Mutual banks are localized, which means they have a vested interest in their local communities.  Not only do their employees live and work in those communities, but so do their customers.  As a result, mutual banks tend to be very active in their communities.  Many offer special events in their towns – like The Milford Bank’s annual Shred & Recycle Days and the Milford Moves 5k – and regularly support local organizations and businesses through a number of initiatives.  Mutual banks espouse community values that reflect their dedication to their customers.  The Milford Bank, for instance, supports more than 100 local organizations throughout the year with not only financial support, but also time dedicated by its team to help these community groups.

When deciding where to put your money for safekeeping, you have options.  By nature, mutual banks can offer benefits that many larger corporate financial institutions cannot.  If you want to know exactly how you local mutual bank can support your banking needs, give them a call or go visit one of their offices for some firsthand detail.  Ultimately, the most important factor is that your money is safe and you have access to the services and expertise you need, when you need it.  As a client, that’s the commitment you’ll get from mutual banks.

How to Avoid Job Scams

These are challenging times for everyone.  Most people have had to adjust to new work environments, and our personal and social activities have been largely non-existent for many months.  Unfortunately, many people have also found themselves laid off or furloughed as businesses have been forced to cut back staffing or close entirely.

If you’re in the job market, be aware that the increase in job seekers has also driven an increase in fake job postings that are often mixed in with legitimate offers.  Just as bad actors prey on unsuspecting victims through email and phone scams, they are also taking advantage of the increased unemployment rate to con people into giving up personal information and money.

That said, there are many good, legitimate job opportunities available, especially as businesses continue to adjust to this new environment and find a need for more personnel, and with many employers looking for seasonal help during the holidays.  As you look for a job, just be aware that the real jobs may be intermingled with fake offers.  Here are a few things to look for that can help keep you from falling victim to a job scam.

Fees – You may come across job offers claiming to have many customers lined up and all you need to do is pay a certification, training, or placement fee.  That’s, at best, suspicious and, most likely a scam.  Legitimate employers won’t ask you to pay for placement or training.  These offers will collect your fees and never actually turn into work.  That’s not say certain certifications aren’t helpful for some jobs, but those are things you should look into on your own, separately from your job search.

Financial information –  Be wary of prospective employers who ask for your financial details, like credit card numbers or bank accounts.  Certainly, you may need to provide bank routing information if you’re going to take advantage of direct deposits, but make sure you know who you’re giving the information to.  You may want to wait a few pay cycles and deal with physical paychecks, just to make sure everything is legitimate.  If your bank enables mobile deposits, you can easily get the funds into your account without having to find time to visit a branch.

Government jobs – Remember one simple fact:  all Federal government jobs are listed online.  If you get a solicitation for a “new” or “previously undisclosed” government job, don’t reply to it.  If you’re interested in a government job, check out availability directly and follow the steps to apply.

Interviews – With very few exceptions, be wary of anyone offering to hire you without an interview.  Legitimate employers will want to meet prospective employers.  If you are offered a job based on an email or messaging exchange, or an extremely short phone call, there’s a good chance it’s a scam.

Job requirements – Make sure you know the job requirements and that those requirements make sense for the job.  Scammers often try to minimize or simplify requirements to increase their rate of “success” and to limit questions that could expose them.  Ask specific questions about the job.  Most scammers will either stop engaging or will avoid the question by telling you not to worry about it and that they will train you.

Video interviews – It’s never a bad idea to suggest a video interview.  Being able to see your interviewer can provide visual clues as to whether they are authentic or not.  If they’re not willing to use video, there’s a good chance they aren’t offering a real job – especially in today’s environment where video has become the norm.

Contact information – As with phishing emails, check your correspondences for warning signs – especially email addresses.  Scammers often use email addresses that are similar to legitimate companies, but have slight differences.  Also verify phone numbers by looking them up online.

With all that in mind, realize there are plenty of real opportunities out there and your instinct will likely be correct.  If it seems questionable or too good to be true, it probably is.  All you need to do is be a little smarter than the scammers.  They are looking to con people – they aren’t in the hiring business.  Use that to your advantage as you look for a job.  Of course, if you think you may have been exposed to a scam and possibly given away any personal information, contact your bank to make sure your accounts haven’t been compromised.

How to Keep your Kids Safe Online

With the world having gone completely digital there’s very little we can’t do online and through our smartphones or tablets.  Without question, it adds a new level of convenience to our lives.  Our kids, too, are living much of their lives online as they interact with friends, do schoolwork, play games, stream content, and more online.  In many cases, in fact, it’s fair to say kids spend more time on their phones and laptops than their parents.

With that convenience, though, comes responsibility – responsibility to behave safely and appropriately in a digital society.  As parents, we have an inherent responsibility to protect our children, and how, that extends into the digital world.  It has to – there’s too much malicious activity and cyber crime that could impact your entire family.

So, the theory is, if your kids are old enough to be online, they are old enough to be taught how to do it safely.  Here are some tips for helping to keep your kids (and the rest of your family) safe in a digital world.

Set ground rules – Maybe the first thing to do is set ground rules for online activity.  However old your kids are, make sure they understand your expectations.  That might mean setting digital curfews in the evening, no phones at the dining table, limits on non-schoolwork usage, permission to download apps or games, and more.  Some devices and applications allow you to set limits on certain apps, which can help.  Mobile carriers also offer family safety apps that can help monitor and track usage.  As a parent, you shouldn’t feel bad about monitoring your children’s online activity – their friend lists, applications, search or chat history, and other data – to make sure they are building safe habits.

Security ­– Perhaps the most important thing for your kids to understand is security.  The moment they start interacting online, your kids will potentially be exposed to millions of cyber threats, which also put your home network, and all devices attached to it, at risk.  Make sure you install appropriate security software on each device and keep it updated, and be sure your kids understand they are not to disable or uninstall them.  It’s also best to enable multi-factor authentication for all apps that offer the option (most do these days), to make it harder for accounts to be hacked.  Finally, understand that many apps request access to data that isn’t needed for the apps to function.  Make sure you look at those permissions carefully and only allow access to information that is absolutely necessary.  You may want to require parental approval for downloading and installing any new apps, especially for younger children.

Passwords – Teach your kids to use the same safe password guidelines you do.  They should avoid using the same password on multiple sites; they should change passwords regularly and monitor accounts for fraudulent activity; and importantly, they should never share account information with others.

Privacy – Kids tend to document their lives through photo and video. Remind them to respect others’ privacy when posting and that they should only post photos or videos they don’t mind being in the public domain.  Also make sure automatic geo-tagging is turned off for photos and videos.  In fact, it’s a good idea to disable location access to all apps, then enable them for specific apps that need it, like tracking apps that help you keep tabs on their location.

Social media – Social media can be overwhelming, and many adults don’t even think before posting.  When your kids are old enough to have their own social media accounts, talk to them about using good judgment and common sense on these apps.  Remind them that once they post something, it’s impossible to take it back.  Also make sure they understand the risks of connecting with people they don’t know on social media.  Kids often see social media as a popularity contest – the more follower or likes, the better.  Teach them that’s not the case and that the safest policy is to only accept friend or follow requests from people they actually know.

Safe habits – Teach your kids about phishing scams and help them understand how to identify potentially malicious emails, text messages, pop-ups, emails, and links that are designed to get them to share personal information.  Educating your kids early will help them recognize potential threats early and develop safe digital habits.  If you get a phishing message, use it as a teaching moment by showing your kids and explaining to them why it’s suspicious and how to handle it.

File sharing – At some point, your kids are likely to start exchanging files with friends, and possibly even using P2P file sharing applications.  Make sure they understand there are risks with P2P networks, like potentially malicious code embedded in flies from unknown sources, which could your network and files to others.  There’s also the issue of downloading copyrighted content illegally.  If they need share files with others, make sure they are using legitimate software that has been properly installed with appropriate settings to ensure no private information is shared.  Also make sure any files they receive from others are scanned by their security software before use.

At some point, it becomes impossible to keep children from becoming part of the digital society, especially once they start needing to access online tools for school.  The fact is, many of the applications websites, and services available today provide unique social and educational opportunities that can be helpful.  Your goal should be to help your children understand the risks and develop habits that will reduce those risks while allowing them to be part of the online world.  While there are no guarantees, following these guidelines can help.

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