Identity theft in 2010

online identity theftNot only the celebrities but everybody is having a strong presence in internet. Think if one day you see that someone has stole your identity and your online accounts. Terrifying isn’t?

But its not an imaginary tale no more. 1 in every 15 person has been prey to identity theft. The identity. According to Bureau of Justice 5% of all persons of US aging over 16 years has experienced identity theft in the period 2007-2008.

  • According to Javeline study 11.1 million US adult people have been the victim of identity fraud. Total fraud amount has also been increased by 12.5% and reached $54 billion.
  • The only good news is that prompt action against the fraud and more consumer awareness has been able to drop the fraud resolution time. Now a fraud resolution is taking 21 hours which is 30% less than previous year. Now nearly 50% victims submit complain to police and the prosecution has tripled in the time. In a single sentence we can classify Fraud is up but resolution hour dropped.
  • Data breaches in various industries has been continuing and 63% of times full name & 37% the physical address of a person has been compromised. Health insurance information theft has increased by 4%. Instances of Social security number compromised, has reduced from 38% to 32%.
  • 75% of the card fraud victims have been using credit cards which is 12% more than last year.
  • Users age group: 18-24 years age group are the slowest to detect the identity fraud and online accounts. They are least prone to checking the online account statements and security checks and these reasons are making the age group a soft target for the online fraudsters.
  • The mean fraud amount per victim has been $4841 and this is really shocking to see such a large amount at stake for each victim.

All the statistics are clear enough to mark that although our society knows about the online identity theft but very few are prepared to counter the fraudsters. Some simple steps can ensure that we remain out of clutch of the online frauds. Install reliable anti viruses and malwares and update those regularly. Don’t share any important personal information online. And for many more preventive measures checkout the next post.

Way To Become the Next Millionaire

Dreaming to become a millionaire? Most of do after all . But very few can achieve. But here is the nice video I got which tells how savings and personal finance budgeting can lead you to your dream. So follow the steps of the video as well as the other tips that we are sharing every day through our mouthpiece budgeting personal finance. So keep on doing the hard work and never stop dreaming. One day we all can say “Yes we are the new Millionaire

Forbes New Billionaire List

Forbes announced their billionaire list some days back. Here is the list of top 25 billionaires of the year 2010. This year Forbes list was dominated by Asia. Among 97 new billionaires nearly 66% are from asia. Asia is proving more productive in the post recession period the the other world. This trend is going to curb the dominance of US in near future. Don’t lose hope through some calculated steps of personal finance budgeting we can also take our our selves to the millionaire list at least.

Rank Name Net Worth ($bil) Citizenship Age Residence
1 Carlos Slim Helu & family 53.5 Mexico 70 Mexico
2 William Gates III 53.0 United States 54 United States
3 Warren Buffett 47.0 United States 79 United States
4 Mukesh Ambani 29.0 India 52 India
5 Lakshmi Mittal 28.7 India 59 United Kingdom
6 Lawrence Ellison 28.0 United States 65 United States
7 Bernard Arnault 27.5 France 61 France
8 Eike Batista 27.0 Brazil 53 Brazil
9 Amancio Ortega 25.0 Spain 74 Spain
10 Karl Albrecht 23.5 Germany 90 Germany
11 Ingvar Kamprad & family 23.0 Sweden 83 Switzerland
12 Christy Walton & family 22.5 United States 55 United States
13 Stefan Persson 22.4 Sweden 62 Sweden
14 Li Ka-shing 21.0 Hong Kong 81 Hong Kong
15 Jim Walton 20.7 United States 62 United States
16 Alice Walton 20.6 United States 60 United States
17 Liliane Bettencourt 20.0 France 87 France
18 S. Robson Walton 19.8 United States 66 United States
19 Prince Alwaleed Bin Talal Alsaud 19.4 Saudi Arabia 55 Saudi Arabia
20 David Thomson & family 19.0 Canada 52 Canada
21 Michael Otto & family 18.7 Germany 66 Germany
22 Lee Shau Kee 18.5 Hong Kong 82 Hong Kong
23 Michael Bloomberg 18.0 United States 68 United States
24 Sergey Brin 17.5 United States 36 United States
24 Charles Koch 17.5 United States 74 United States

Budgeting tips: Save Electricity Cost

Save Electricity Cost -Budgeting tipsPeople, who like to cut down their expense, often ignore one of the biggest expenses they made. They try to cut down all. But they never try to cut down the electricity bill which consumes many dollars every month. We think we cannot cut down this cost but it is not true. If we can behave wisely then we can easily make the electricity bill less than half. So lets share some budgeting & personal finance tips about saving electricity bills.

The first and most easy thing you can do is to replace all the old fashioned energy inefficient bulbs with some energy efficient one which can give more lights with little wattage. This is a small thing but this can contribute a lot in your mission of reducing electricity expense. Try to have another good habit of turning the lights off when the light is not needed. This habit can save many dollars a year.

Are you drying your clothes in your washing machine throughout the year? Then stop this practice. Few months in the year you can dry your and family’s clothes outside and save huge energy cost.

Check your refrigerator. Check whether the cooling coils are clear and this will help the refrigerator run smoothly without extra electricity bills.

Unplug the electronic appliances when they are not in use. Many appliances draw phantom power even when they are completely switched off. This kind of phantom power consumption will add up and make the bill a huge.

Don’t use hot water if you don’t need hot water. Heating the water consumes a lot energy and using cold water can save a lot of your hard earned money.

If you can save energy you are contributing a lot for the environment. You are decreasing our carbon footprint and making the world better for the future generation.

For more Budgeting Personal Finances Tips and tricks checkout the blog.

American Billionaires’s First Jobs

Ray Dolby - personal finance tipsWe all have a dream to be a billionaire. We like to be like Zuckerberg, Charles Schwab or Oprah. But have you ever thought how they have reached the billionaire status? In a sudden night they haven’t reached the top. Almost everyone has started their career with trivial jobs like you and me. They have worked at gas stations, worked as paper boy, sold walnuts and many more before reaching the top.

The story of Mark Zuckerberg is only different from the other billionaires. Zuckerberg had founded the social networking site Facebook while studying at Harvard in 2004. He got success very soon and his worth is now $4 billion.

All other billionaires in the Forbe’s list have started from scratch and slowly paved their way to top. Charles Schwab sold walnuts at orchards around Sacramento, Andrew Beal, the banking tycoon serviced used TV sets and used to sell them door-to-door to poor families. Calif. Dole’s David Murdock, joined gas station after quitting the school in the ninth standard and changed oil, greased car parts. Many Forbes top 400 members were paper boy at the starting of their career. Patrick McGovern, Dennis Washington, T. Boone Pickens, Sheldon Adelson & many more sold papers at their first life.

According to Patrick McGovern, the paper boy job has given some important lessons of life. The key lesson was how to manage time efficiently and how to make customer’s happy.

Ray Dolby(Founder Dolby Laboratories -fortune at $3.5 billion)  – First job  – part-time gig at audio and movie company Ampex

Oprah Winfrey (Fortune worth -$2.4 billion)- First Job: Grocery store

From this discussion we have got a great lesson of life that whatever you do, be proud of it and try to give you best. May be one day you can also hit the jackpot and be the new billionaire. For this prepare yourself and learn the personal finance lessons of how to manage time and money and don’t waste the chance to win customer’s satisfaction. I am also looking for your comments on your path to success.

Source: Forbes

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Your Budgeting Personal Finance Strategies

Budgeting personal financeTrying to keep your personal finance budget under control? But it is out of your clutch? Don’t be so tensed. With some simple steps you can get back the control on your own personal finance budget. Follow me for the simplistic steps which can change your budgeting concept and make your money, honey again.

First step I want to mention is to save some portion of your income for the emergency. It must not be a huge portion, but even if you save 2or 1% of your income, still it will help a lot when you are in dire need of money. This savings can help you at the time of unexpected bolt from the blue. Invest your monthly savings to high yielding investments so that they can grow more. This can help you to budget personal finance in a better way.

Next step is a controversial one but I have got exceptional result from this. The step is don’t use your credit or debit cards for the expense. Instead use the cash. You can easily find the cash from near by ATMs. So go there and bring the cash to pay for all your spending. This will save from being cash strapped. This habit of using cash will stop you from unnecessary or frivolous spending.

Make use of automatic bill payments. This will save a lot of your money from wasting on late fine. Your automatic payment will decrease your headache also.

The last step to make your personal finance a healthy one, is really simple. Just go and grab a pen with a diary. Pen down the expenses you need to make in the month august. Start from tomorrow, and check where your money is going to be spent. This will also let you take control on your expenses and make right budgeting. This simple habit can make the financially sound. You can find how you can control you money being wasted.

If you find these simple steps working for budgeting personal finance, then let me know. If you have any more ideas which you have used and made finance a healthy one, don’t forget to let me know. Please comment or contact me whenever you have anything in your mind.

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Know What Salary You Should Get

Know what Your job pays

Before doing the salary negotiation do some research on what your new pay to its employee. Some people dislike salary negotiation. Some people is in the fear that in this tight job market the salary negotiation can hinder his employability. You need only a job not a right salary. Is that really so?

According to the job experts and job coaches you should not accept always the salary is being offered to you, then you can have to go through a mental trauma of being undervalued(in pay checks). This will lead you to change the job once again. So better to know the company salary and negotiate before accepting the offer. So don’t do that just go through the salary information of the company and ask the salary that the persons with same expertise are getting.

Are you confused that getting a company’s salary information is not easy? You need to meet with the guys already working there and need to create rapport before getting the information. But its not true any more. There are now many websites available online which will provide the salary information at the click of a mouse. You can find many websites like federal Bureau of Labor Statistics – bls.gov, Salary.com, Glassdoor.com,Payscale.,com, Vault.com, Indeed.com.

These websites can offer you salary information of any company although different website gather their salary information through various sources. Federal Bureau of Labor Statistics gets its data from various employer surveys. Indeed.com gets its salary information from the job listing posted on the websites from the site’s inception. Salary.com provides information getting from the questionnaires filled up by the HR staffs of various companies. This is good although it does not provide specific company’s salary details. There are websites like glassdoor and payscale for your help.

Glassdoor is claiming to have 80,000 company data collected through reports from users. This service is absolutely free. There are also Vault.com, Payscale.com and other online websites where you can get all the details too.

As per our job coach you should postpone any kind of salary negotiation till you get the offer. If you get that you are being offered small amount then express clearly that you are thrilled with the offer but very much disappointed with salary. So from next time follow this to get a valuable job.

30 Ways to Save Your Money

Save Your MoneyEvery body likes to save a little bit more than he is saving right now. This is human nature to save some more for future emergencies but very few can complete the task effectively. Almost 90% of us try to cut down the expense to save more but only few can succeed as we avoid some simple ways which can save our hard earned money. Always remember “A penny saved is a penny earned”.

Now I am going to discuss some simple steps with which you can save some money for your future use.

30 Ways to Save Money:

1. Make savings automatic:
Save your money automatically. Before checking your salary, divert a handsome amount to other savings or in 401k.

For others checkon…

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