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Tweets 4 U -  Feel free to tweet!

Signing Paper Work Tweets

• Before You Sign Any Documents—Get all details in writing, and read fine print. Ask questions, only sign when u understand all details.
• Verify paperwork matches promises! Unethical salespeople often switch rates, terms and conditions, and important financial details.
• NEVER sign a blank form!

Avoiding Common Financial Scams Tweets

• Affinity Fraud—when scammers take advantage of trust among peer groups. One group member invests & others become more easily convinced.
• Ponzi /Pyramid Schemes use incoming money to pay previous investors. All eventually collapse—leaving newer investors with financial loss.
• Multi-Level Marketing business models r often Ponzi schemes in disguise. B4 u commit time/money, research the company and your options.
• Verify a charity is legitimate before making a donation. Go to www.charitynavigator.org to evaluate charitable organizations. 
• Don’t believe promises of quick profit, insider info, or tactics like “u must act now.” If it sounds 2 good 2 be true, it probably is!
• If a salesperson won’t allow you time to compare prices or explore other options, be cautious! This is a warning sign of fraud.
• It’s ILLEGAL for sweepstakes/lotteries to require winners to make a payment (besides the initial ticket) before winnings are distributed.
• Commodities markets are volatile and risky! Commodities are especially inappropriate for smaller investors. 
• Don’t believe/reply to calls, emails, texts on ur phone, letters saying u won sweepstakes/lottery, when u never bought a ticket—It’s fraud!
• If u receive appeal letter, call, or email from a lawyer 4 a recently deceased relative uv never heard of, be careful—it’s probably fraud!
• If foreign govt official, widow, or someone claiming 2 b a US servicemember contacts u & asks 4 help moving money out of country—it’s fake!
• Work-at-Home offers often sound like easy income, but usually require up-front costs and/or have bogus materials. Profits may never appear.

Phone Scams

• NEVER give out personal information when you receive an unsolicited phone call!
• “Slamming” occurs when ur long distance phone service is switched without ur permission. Call 1-700-555-4141 from ur home phone to verify.
• “Cramming” occurs when u r charged for items/services on ur phone bill that u did not authorize. Review your phone bills carefully!
• If you are ever told to call an Area Code 809 number immediately—don’t! It’s a scam, and you could be charged $2,425 per minute!

Internet Safety Tweets

• Be very careful when posting any personal information on the web—it is difficult, if not impossible, to ever remove it.
• Be sure to only use legit and secure websites—secure websites have an “s” at the end of the “http:”  in their address, displayed as “https:”    
• Since credit card purchases r covered by federal consumer protection laws, if possible, use credit card for mail, phone & online purchases. 
• Beware of phony online escrow services (“third party” companies that verify the transfer of merchandise and payment has been fulfilled). 
• Verify legitimacy of online escrow companies b4 u use them—research them companies on the internet & look for customer feedback/ratings.
• If someone won’t meet with u face-to-face before completing a large financial transaction, be very suspicious.  This is a sign of fraud!

Safeguarding Your Personal Info Tweets

• Review all bills and financial statements immediately when you receive them. Look for purchases you didn’t make!
• Protect your info!  Shred, don’t toss, cancelled checks, credit card statements, old bills, and other financial papers.
• To protect yourself from mail thieves, send mail at the post office or give outgoing mail directly to your postal carrier.
• When creating a password—NEVER use ur mother’s maiden name, birth dates, phone #s, consecutive #s, or last 4 digits of ur Social Security #.
• If u discover someone has stolen ur identity, u can freeze your credit. Contact all 3 national credit bureaus and follow their procedures.
• “Opt-Out” to remove ur name from mailing lists used to offer u credit/insurance. Go to www.optoutprescreen.com or call 1-888-567-8688.

Keeping Good Credit Tweets

• “Credit” is the term used to describe the willingness of lenders to allow you to repay a debt over time.
• Credit score is used to determine if u qualify for a credit card, loan, or financial service, & impacts the interest rate on your loans.
• A credit score is based on the amount of credit you already have, your debt-to-income ratio, and your timely payment history.
• The better (“higher”) your credit score, the lower the interest rates you are charged. 
• Improve your credit score by paying your bills on time and paying debts off in full.  
•  For a modest fee, you can get your credit score information at www.myfico.com

Credit Report tweets (post in order)

• A credit report shows ur credit activities, including loans, unpaid balances, payment history, & actions against u because of unpaid bills.
• Be sure to review your credit report regularly to make sure everything is accurate, and that you are not a victim of identity theft.
• Children & adults (who can no longer managing their money) r targets of identify theft— Request copies of their credit report once a year.
• Request your free credit report from the ONLY authorized agency: www.annualcreditreport.com

Smart Money Management Tweets

• Financial health is closely tied 2 physical & mental health—Create monthly/annual budget, identify goals, & develop a financial plan.
• There are financial consequences to being unbanked. Unbanked households spend average of $800 per year on financial transaction fees.
• Even if u dont think u r an “investor,” if u purchase food, have phone, pay rent, etc, u r participating & there4 investing in the economy.
• It never hurts to ask for discounts!  Always ask companies about special offers like good driver discounts, senior or veterans’ rates, etc.

9 Simple Steps to Help Manage Your Money

1. Make a list of all your sources of income and all your expenses (big and small).
2. Calc total amount owed each month. The amount owed each month varies depending on when bills r due. Review due dates and pay bills on time.
3. Repay debt, especially ones w/ high interest rates. Less debt = more money available and sense of accomplishment.
4. Review ur purchases to see where u can save. Small purchases, such as meals out or movie tickets, may be good opportunities for savings.
5. Save for unexpected expenses by creating an emergency fund. Saving even a small amount on a regular basis builds up quickly over time.     
6. Plan 4 big bills like insurance, mortgage, property tax, car repairs. Dont 4get to factor in special occasions like holidays & birthdays. 
7. Try to use credit cards for convenience only. Remember, credit card interest rapidly increases total amount owed!
8. Dont fall 4 predatory lending—loans u cant afford or loans w/ undisclosed or excessive interest, hidden fees, & prepayment penalties.
9. If you or your family members are having financial difficulties, don’t let fear or embarrassment prevent you from seeking help!  

Financial Difficulties Tweets

• Have Credit Probs? Contact ur creditor b4 payment is late. Ask to waive late fees, reduce interest rate, and/or establish payment schedule.
• Be careful—just because a debt management agency claims to be “non-profit” doesn’t guarantee the services are legitimate or affordable.
• For assistance w/ credit probs & creditors, go to National Foundation for Credit Counseling www.nfcc.org  or call Toll-Free 1-800-388-2227.
• If you or a family member has a gambling problem, go to www.calproblemgambling.org  or call Toll-Free 1-800-GAMBLER for help.

From the California Department of Corporations, Department of Financial Institutions, and Commission on the Status of Women. April 2010.