Monthly Archives: April 2016

Protecting Your Privacy and Security When Making Mobile Payments

Posted on April 30, 2016 by Melissa Hart

For most consumers, the biggest benefit of mobile payments is convenience. No need to pull out your wallet for cash or plastic—especially if you’ve got your phone at hand anyway. No need to type your payment information to buy online. But what if your financial and other personal information isn’t safe?

Security is important since you usually carry your mobile device with you, it’s on most of the time, and it may contain sensitive information. Consumer Federation of America (CFA) offers advice on how to avoid security pitfalls, what features keep your mobile device and your payments safe, and how to prevent others from making mobile payments without your permission.

For more information, click here.

Teaching Suggestions

Ask students to read the privacy policies of the companies whose services they are using to make mobile payments.
What are your options if you don’t like a company’s privacy policy?

Discussion Questions

Should you voluntarily provide information that is not necessary to use a product or service or make a payment?
Why is it important to use extreme care when you use free public Wi-Fi?

Securities and Exchange Commission (SEC) Warns of Government Impersonators

Posted on April 23, 2016 by Melissa Hart

The SEC has issued an investor alert warning people about fraudulent solicitations that purport to be affiliated with or sponsored by the Securities and Exchange Commission.

The SEC does not endorse investment offers, assist in the purchase or sale of securities, or participate in money transfers. SEC staff will not, for example, contact individuals by telephone or e-mail for purposes of:

seeking assistance with a fund transfer
forwarding investment offers to them
advising individuals that they own certain securities
telling investors that they are eligible to receive disbursements from an investor claims fund or class action settlement; or
offering grants or other financial assistance (especially for an upfront fee).

If you receive a telephone call or e-mail from someone claiming to be from the SEC (or other government agency), always verify the person’s identity. Use the SEC’s personnel locator, (202) 551-6000, to verify whether the caller is an SEC staff member and to speak with him or her directly. In addition, you can call the SEC at (800) SEC-0330 for general information, including information about SEC enforcement actions and any investor claims funds.

For more information, click here.

Teaching Suggestions

Ask students to visit other websites, such as, consumer.gov and investor.gov for additional tips on investing wisely and avoiding fraud.
Ask students to find a list of international securities regulators on the website of the International Organization of Securities Commissions (IOSCO) and a directory of state and provincial regulators in Canada, Mexico, and the U.S. on the website of the North American Securities Administrators Association (NASAA).

Discussion Questions

What actions can you take to protect yourself from government imposters?
What are the tell-tale signs that an impersonator is contacting you to steal your financial information?

Categories: Chapters, Frauds and Scams, Identity Theft | Tags: fraud, identity theft, scams | Leave a comment

Tips and tricks for Impulse purchases

Posted on April 9, 2016 by Melissa Hart

You are in line at your local grocery store and all the snacks, candy, and cheap gadgets are beckoning to be picked up and added to your shopping bag. You are shopping on-line and you only need to spend $8 more to get free shipping. How do you avoid falling prey to impulse buying? How are marketers reducing friction to get you to buy more stuff? As a consumer, factoring in additional transaction costs will help you avoid making impulse purchases.

The following article provides way to help you avoid adding impulse purchases, such as:

Carrying cash.
Making it a struggle to get out your credit card.
No more one-click purchasing.
No more e-tailer memberships.
Having an accountability buddy.

Teaching Suggestions

You may want to use the information in this blog post and the original article to

Stress the importance of carefully watching your spending.
Have the students record all purchases for one week and see how much money is spent by the class in total on impulse purchases.
Stress the importance of having a budget and sticking to it.

Discussion Questions

Ask students to recall a time when they were able to resist the urge to make impulse purchases. What were some techniques that they used?
Poll students about e-tailer memberships, such as Amazon. Why did they choose to acquire the membership? Free shipping? On-demand viewing options.

Categories: Budget, Chapter 6, Financial Planning, Wise Shopping | Tags: impulse purchases, wise money management | Leave a comment

Want to save money on gas?

Posted on April 2, 2016 by Melissa Hart

Gas prices have been low for a few years but, it is always good to save a few more dollars!

What if you are in a new city? Gas prices can vary by 10-15 cents per gallon in a matter of a few blocks. How would you know where to find the cheapest gas? Good news! The GasBuddy app can help you find the best prices on the go.

Use this article to help you save gas money near home or away.

Did you know that you can?

Use apps to find the best prices no matter where you are.
Get cheaper gas by buying at certain times of day.
Improve your driving and save gas money.
Maintain your vehicle and save gas money.
Get more rewards with your gas prices.

Teaching Suggestions

You may want to use the information in this blog post and the original article to

Stress the importance of saving small and large amounts of money.
Calculate the miles a sample of students have driven in the past year and multiply by varying amounts saved (5-15 cents per gallon) to demonstrate the dollar savings potential.