To Our H.s And College Students

[blim]

*Not sure if this was the right place to post this--please feel free to move*

(like in every forum so they'll read it?? )

The other day my son got a phone call from a "financial aid company". The woman verified his name, address, phone number (which she already had) and then asked him for his Social Security Number. Thankfully, at this point, Son got suspicious and said, "I don't know it"

She then said, "Come on, you're almost 20 years old and you don't know your Social Security Number?? Isn't it in your wallet? Can you find it?", then he really smelled a scam and refused to give it to her.

She then said, "Well, then I can't help you. " and hung up.

Son gets financial aid through a Federal grant, Michigan Merit Award and the ACT Award. All correspondence through these places are done in WRITING or a secure website like FAFSA, not the telephone!

So to our students here, never give out your Social Security Number or Drivers License number to anyone over the telephone. We old folks want to keep you safe!

AND take those Merit tests, if you bomb, you can retake them--anywhere from 3 to unlimited times. Family income doesn't matter and it pays a good chunk of your tuition!. And drive carefully!!. Liz

[Besttechie]

Heya Liz,

I am 15 and in 10th grade. You would be surprised at the amount of kids in my school who would probably give that information away without thinking. It just amazes me. I take a finance class in school and it has helped me a lot with learning about money, finances, how to save money, investing, as well as knowing about scams of that nature. I'm very happy to be in that class it will be a big help in future as well as now from the looks of it.

Also, just want to point out, don't give out your mothers maidan name over the telephone to a person you don't know. Its another way they can get information on you.

Thanks again Liz thats great information. I guess it helps that my parents haven't told me my social security number yet..

B

[rv56]

There just seems to be no end to people trying to run scams of some nature....is there.

Thanks Liz........this is something to keep in mind and warn my daughters about whom are in University.

Thanks B. for adding the additional warning.

[robroy]

Got to agree with everything said already . Told My son never to give out that kind of info.

[murtu52]

hehehe....not knowing your SS number....even i don't know my SS number, though i'm 14....

If anyone of that nature calls, and i right away figure out it is a scam, i'll just use the old telemarketer jokes:

TM: "Hello? Hi, I'm here on behalf of XYZ company, I would just like to--"

ME: "Oh, I'm sorry. Can I call you back? That way, I can call you during YOUR dinner, interrupt family quality time, and annoy you more after you have had a bad day. Good bye!"

[Pierce]

or even better, say "please hold" put the phone down and go back to it when you remember or in 30 minutes and say "your call is very important to me, you are caller 1 in a line of 1, i am currenly playing my ps2, please hold"

Pierce

[thesidekickcat]

Thanks for the alert notification Liz.

And for all the good replies.

We have been through identity theft a few years ago, luckily it seems to have not gone past the credit card company as far as we can tell. We think it was an inside job at the credit card company, because the people who stole our account had all the information when they called in to say we had moved out of state. Everything, card and pin numbers, maiden name, and something else no one could have known or found out. If my hubby didn't keep track of when the bills should arrive and hadn't called in when the Visa one was a few days late, it would have been alot worse at the $500 a day they were getting out of Ca ATM. (Why are the ATM limits so high in CA????)

But it happens in alot of ways, like going through your trash (shred everything including things such as junk mail applications for insurance or credit and also anything with your name etc on junk or any other mail they could use to start something up in your name), or bank slips left at ATMs, or loose lips giving info out loud even in places you assume are safe such as when you open a new account at a bank and you tell them your information out loud (always write the private info down rather than speak it out loud where someone nearby can hear you), or as in this case someone boldly asking for the information over the phone (even if it is someone calling from someplace you do business with such as your bank or as happened to us this winter our oil company wanting me to confirm Visa number she had and give new updated expiration date for automatic fill, I said may I call you back and did, on my known personal phone book number for your company and ask for you rather than give it to someone cold calling which it did turn out to be legitimate call but could have been a scam), or a clerk at the store asking for drivers license number to put on a check you are paying with (pay cash or use a credit card not debit card as only credit cards have laws protecting it and debit cards have only the good will of banks to help you if it is stolen). Another place thieves look is in your mailbox for bank statements, credit card statements, refunds, paychecks, retirement checks etc. Do as much direct deposit as possibe, and consider a lockable mail box, a P.O. box, or a mail slot in your door. Watch what you say on cell phones in public places. I was in a store this winter with a lady who gave or verified her entire private info to a realtor? for buying a house, current address, new house one, bank info, drivers license and social security #s etc. Unbelievable. And she had an amplifier on phone so both ends of conversation were heard clearly by anyone around her. I tried to get her to move outside which she ignored. Then when she was off the phone, I told her how dangerous it was to do what she did and that if I wanted to steal her id I could have written it all down from her call, and she said well she was partially hard of hearing and besides people shouldn't listen in to private conversations, but ended up thanking me for my concern for her. I don't think some people realize the horror of id theft.

And I may be out of sync with the computer age, but I refuse to have our private info on my computer for somebody to steal it (watch out for phishing scams on computer too!)

By the way "B", I hope the finance class teaches that debt is a very dangerous thing for anyone, especially young people, as it enslaves you to the lender for the duration of the debt. Save for things you want and stay free of the debt monster. If I could just give one piece of financial advice it would be stay out of debt. The second one would be beware of anything you are asked to do, sign, buy, or invest in. If you don't know enough to make a good informed decision, then don't do it until you can get unbiased information or have a lawyer look at it for you, and never do anything because the sales person says the opportunity will not be around if you don't do it right now. The third piece of advice would be learn to do your taxes yourself, you are the one responsible for them even if you have someone do them anyhow, and you will save a ton of money over the years by doing it yourself. It isn't that hard for most people. And as your finances/taxes get more complicated, you can grow with it by studying the tax booklets and find tax information in newspapers, magazines etc.

I don't know if this idea fits in finance class, but it sure does save money. Learn to do things yourself. I am so blessed that my hubby is very good at car and appliance maintenance and home repair, and I am a fairly good gardener, and a good hubby-helper and we both enjoy doing for ourselves, including the remodeling of a fixer upper house though I am rethinking that one as it is harder and harder on us to do it ourselves (we stalled out a few years ago due to bad necks and backs from a car accident, so many things still aren't finished.) Don't forget to get permits and inspections and hire out the things you aren't allowed to do by law! Anyhow sweat equity will be your financial ace to save you a fortune in not having to hire people to do everything for you. And if you do hire things done, you will have the knowledge to know if is done right or not. So there goes my financial advice folks. Sure has saved us alot over the years doing these things. Oh, I forgot to mention to also do tithes and offerings to your church and other ministries, and help others wherever you can, and save for short term and long term goals, and don't forget to fund those IRA's starting early in life to get maximum growth in lifetime.

Gee Whiz, I am sure long winded again today.

God bless everyone.

Edited April 6, 2005 by thesidekickcat

[Matt]

Thank's Liz. I don't know my SS number. The stock broker guy got mad at me when I tried to buy stock in Walmart and I didn't know it. I'm 15 and in the 9th grade. What you warn against, i would never do, but it is amazing at how many people I can think of who might. Thanks for the warning.

About those tests... yeah, I'm gunna take the PSAT next year, have to spen the entire summer studying.. bleh

Matt

[Besttechie]

Heya thesidekickcat,

Yep, I am learning about debt too. Also, I just learned about IRA's and 401k and 403b plans I believe they are called. I'm learning a lot in that class all sorts of good stuff for the future. I'm so glad I am taking it.

B