Protecting your accounts (and money)

A couple of (easy) ways to protect your money in a digital world:

  1. 1.  Use a credit card, not a debit card. Most credit cards come with protected against unauthorized charges on your account. You will not be responsible for a charge that you did not authorize, online or otherwise. A debit card does not offer the same opportunity, any charges applied to your card are directly withdrawn from your funds in your (banking or savings) account.

  2. 2.  And to help reduce the risk of credit card fraud, most offer alerts to provide you with account activity quickly.

    Some people think credit cards are dangerous. But you can find a card that works best for you. If you are afraid of ‘overspending’ set your credit limit low, just enough to support your monthly normal charges. Or you can keep more than one card – one for every day spending and another for extra large purchases.  Also managing a credit card (with on-time payments) will help improve your credit score.


Last night a group of us went out for a ladies night. The bar was hopping and we all had fun. I had given my credit card to the bartender so that I could keep a tab open for my drinks.

Like I said the bar was crowded and there were multiple bartenders serving our group. When time came to cash out our tabs, we all received (inaccurate) checks. It took a couple of minutes to sort out who owed what. The bartender re-rang the checks and gave us the new totals.

My tab was small, only $22. When he handed me the bill my credit card was not with it. It took the bartenders more than 10 minutes to find the credit card I handed them when I ordered my first drink. The bar was crowded, but I sat in the same bar stool for most of the night.

One of the girls (Holly) commented to me to check my card when I got home, something fishy many be going on since they had to really search for my missing credit card. I told her I should be okay, I get alerts on my phone each time there is a charge on my card.

Ironically after everything was settled, it was Holly’s debit card number that was stolen and her account was drained. She didn’t know this until the 12 hours later when she was using her card to buy groceries the next day.

 

Public records

You can have access to many public records, if you know where to look and (sometimes) for a fee. The accessibility of public records varies widely from city to city, state to state, and country to country. Legal statutes are different too. Some records that are mandated to be public in one area may not be available to the public in other locations.

Vital Statics

Anyone who is born in the US is issued a birth certificate. Likewise, when you get married and when you die, the information is recorded. These used to be public records, and you were entitled to see them and get copies of them. Due to identity theft you now have to prove that you are the person whose record you’re seeking or a direct relative. If you don’t meet these qualifications, your best bet is to use a site like FamilySearch.org or the death index at Ancestry.com.

Court Records

Some locations make all court records available to the public; others limit access to civil actions. In all cases, the court may seal certain case files at its discretion, and cases involving children are almost always sealed.

Before you start a search of court records, you will need to know which of these records are available to the public in your area and where they are located.

FYI bankruptcy files are kept in the federal locations.

Licenses

If a person has a license issued by a government agency, in most areas is a part of the public record. Doctors, lawyers, nurses, automotive repair dealers, contractors, and cosmetologists are just a few examples of licenses you can find in public records.

Property records

Most real estate records are maintained in a city or county recorder’s office, clerk’s office, or some similarly named agency. Transfers of real property—including grant deeds, quitclaim deeds, and easements—are recorded and made available to the public. These documents contain information such as names of sellers and buyers, description of the property (including the address), and the date the transaction was recorded.

Property records also contain lien information. Construction liens, tax liens, and sometimes, even judgments from civil litigation can be filed against a piece of property. The lien information is added to the property record and remains there forever—even after the lien or judgment is settled and released.

Plot maps: when property is subdivided, the subdivision map must be recorded and preserved for posterity. Lot lines are also recorded.

Lot books keep a record of property values for tax assessment purposes. They contain the number of lot, the number of acres, the name of the property owner, a description of the property, the mortgage number, and the dollar value of the property and improvements. If your city or county has a historical society, contact it to see if it maintains a collection of public records.

There’s one other record that’s related to real estate: tax records. Your area undoubtedly has an assessor’s office, one that values (assesses) property and collects the associated taxes. If property taxes are unpaid or even paid late, the information is noted on the property owner’s record.

Public Works and Planning Records

Building permits and water and sewer records are preserved in case there are deviation from the original permit, or any easement that might be attached to a property.

Whenever a city, county, or state project goes out to bid, the entire bidding process becomes part of the public record. You can request copies of formal requests for bids, specifications, and the bids themselves. Look for departments of engineering, planning, construction, and environmental services.

Public Office Records

Campaign contributions: Candidates running for political office must file reports containing the names, amounts donated, addresses, and occupations of all those who contribute money or in-kind goods or services to the campaign. (An example of in-kind goods or services donations might be office supplies or free printing.) From these reports, you get an ideas of the people and groups that support a particular candidate.

Statement of Economic Interest: In most areas, public figures are required to file a form that reveals their assets and sources of income. They usually have to reveal their spouse’s assets and sources of income too. The reason for this is to prevent a public official from acting on an issue in which there might be a conflict of interest

Other required political reports can include campaign expenditures, campaign disclosure forms (which typically contain information on campaign officials), and reports to be filed by lobbyists.

If you were seeking a statement of economic interest from a city council person go to city hall. If you want a candidate’s statement from a statewide campaign, you would contact an office at the state capitol building.

Probate

When a person dies, the will had goes through the court system and be publicly administered. In other words, a court-appointed official would oversee the divvying up of the estate. All the decedent’s bequests then became part of the public record.  Most people with any significant assets transfer all of them into a private trust. Trusts don’t have to go through probate, so the disposal of the estate remains private. However, if someone dies without a trust in place or without a will, and the assets are more than a certain amount, the probate court takes over.

Agendas and Minutes

Every meeting conducted by public officials must contain two things: an agenda and minutes.

Freedom of Information Act (FOIA)

Government secrecy, real or perceived, has led several countries to enact Freedom of Information Acts. Australia, Canada, New Zealand, the United Kingdom, Ireland, and the United States have all passed FOIAs to allow public access to a wide array of government documents.

There is no form to submit when you make an FOIA document request. All you need to do is write a letter to the government agency that has the documents you want, and provide as much information about them as you can. Mark both the envelope and the letter “Freedom of Information Request.”

 

Managing your digital wallets.

We are all familiar with our bank, the brand, the account number, the balance. How familiar are you with your digital wallets – Paypal, Apple Pay, all those digital transactions that uses non-traditional monetary process?

We have changed the way we do business today, and with that we need to change the way think about our own digital assets. If you were to make a new will today, would there be digital accounts to be added to your estate? How easy are these digital accounts accessible if you are not available?

What is Big Data?

I’ve been working with customer data for over 20 years now. I’ve seen good data, bad data, black data, red data, big data and bigger data.

Big data is not lots and lots of data; well actually it sort of is, but that not all it is.

 

Big data has 3 components.  These three components must provide value and insight to the user.

Let me explain…

 

A group of data programming geeks were consulting on site for a large airplane manufacture. They were creating a large data warehouse to store all sorts of details about a planes engine, parts and maintenance details. Each part was to be tracked and available for complex queries. It is big data but it is not Big Data, yet.

A lot of information is collected regarding an aircraft.  Mandatory maintenance schedules and updates are recorded.  All maintenance (scheduled or unscheduled) must be recorded, commercial and private. This is not a requirement for cars/trucks; cars don’t fall from the sky, yet.

Side Note: Should autonomous cars have mandatory maintenance schedule to be used? Like an aircraft? For example a check point for the vehicle may be required to be road worthy a scheduled intervals.

With tons of data being entered into storage, where to you begin? This is new data to the user, there needs to be exploration to find new patterns that provide insight to decision making.  Add lots of information together, so that it is accessible to ask ‘what if’, ‘when if’, ‘why if’… and answering that question is BIG DATA

The geeks, analysts, programmers had already defined that an unscheduled repair is 1000x more costly than a scheduled repair. A well known statistic in transportation. What what can you do about it? How do you find new scheduled repairs that prevent costly unscheduled repairs? Using the data to define benefit or advantage is BIG DATA.

BTW – you don’ t need lots of data to have Big Data. Just Big Value.

Weather forecasts are a user of Big Data. The weather data points have been recorded for centuries. We have applied analytics to this data to create weather forecasts (aka predictive analytics). Weather forecast are a result of Big Data – using history to find patterns  to forecast the weather.

Big Data can come from all sorts of sources.

You can see from the chart below ‘every minute of the day’, we as individuals create tons of social data every time we use social apps.

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Amount of data captured every minute.

Data is not just created by website searches; is also also created every-time we take a digital picture, a doctor scans a patient on digital film, or a Fitbit collecting steps. This is new data that didn’t exist so long ago.

Side Note: There were pedometers when I was a child. They measured your steps the same way, by movement. Today ‘Fitbits’ are a rebirth of an old tool. The ability to report and share your metrics changed the industry.

If you are digital health geek, you create your own Big Data. Tracking your vitals, exercise, food intake and sleep patterns, gives you insight into goals.

big data
How data is created.

Credit Card Charges – Part I

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Balancing your credit card statement

 

Not many people balance their credit card statements. (Not sure who balances their checkbook today, besides my mom – she says it is therapeutic?!??!)  I have always given my credit card statements a quick glance, looking for charges I didn’t make. But recently I met someone who religiously balances his charge statements, in a course of one year, he found approximately $500 in overcharges, not in his favor.  (Oh, of course there were some charges that were in his favor – he didn’t bother to correct these.)

So I started watching my credit card charges more carefully. Here are the 3 mistakes I caught in 3 months:

Continue reading Credit Card Charges – Part I

Credit and identity theft

data3If you are not actively monitoring and preventing your data identity theft, then it is recommend you pull your credit report every 3 months. You can find FREE credit reports from your credit card company and online, there are plenty of credit tools.

The information in a credit report includes: how often you make your payments on time, how much credit you have, how much credit you have available, how much credit you are using, and whether a debt or bill collector is collecting on money you owe. Credit reports also can contain rental repayment information if you are a property renter.

A credit report is easiest way to find out if someone else is using your credit – a sure sign of identity theft! It may take weeks or months for a credit collector to contact you regarding credit that was given to use, but spend by the thief.

FYI – everyone should know their credit score – it drives so many financial decisions; interest rates for credit cards, car loans and home mortgages. . Your credit rate scores drive your ability to get a loan, and there are some employment agencies that look at your credit score as a data point for your character assessment.