How to Bank Safely Online
With so many stories of fraud, keeping our own credit and debt cards protected is a concern for most. No line-ups or ATM fees is one of the many desirable features to online banking. That, of course, combined with the fact we no longer have to leave our homes to transfer money or pay bills. With more and more consumers turning to online banking, it seems fraudsters are following the trend as well.
The result of a recent Internet User Survey by Statistics Canada showed that online banking is growing, and growing quickly, with 54 per cent of the Canadian population 16 and over using this service. With its increased popularity comes increased interest from criminals and their desire to crack open your account is their main goal.
Paul Proulx, RCMP Staff Sergeant and manager at the Canadian Anti-Fraud Centre says “It used to be all phone fraud, but now we’re seeing the internet taking over. We’re seeing that especially in the last two years, and the trend is increasing.”
The next time you are online, there are a few things you can do to protect yourself and your account. One very common problem is sites that are known for phishing. Dishonest sites have a technique where they are able to act like a bank or fish, in order to get your banking information. They will send requests for thing such as personal information or PIN numbers in order to ‘update your information.’ Report these sites and contact your bank in person if you have any questions or concerns.
Making a point to always do online banking from your own personal computer is also a great way to safeguard against hackers. Keeping your personal passwords and account numbers on your computer will assure no one else gets a hold of them. Keeping your computer secure by making sure to always update security settings, firewalls and anti-virus software on a regular basis will help protect your sensitive information as well.
When doing online banking, it’s very important to ensure you have an encrypted connection. If you are unsure how to check for this, have someone help set up the security on your computer. Also, a secure site will have a padlock in the corner depicting security. If you are still not sure, a secure bank connection to a bank will begin with ‘https’ for the Internet address.
Try to avoid using Internet hot spots as they are for public use and the connection may pose a risk to the security of online accounts. Keeping your accounts protected is a common sense way to not only prevent a thief from emptying your account, it’s also a way to protect your credit.
And Baby Makes Three
So now you are a family. What a wonderful and tumultuous time of life! And why didn’t anybody tell you how torn you would be by the decision to stay at home or return to the office? You may have decided before the baby came that of course you would return to work, but holding that precious darling can change minds, melt hearts and thaw rock hard resolutions in the space of a baby burp.
It isn’t only about the money, although money is important, that’s for sure. But if you love your job, go back to work. It may even cost you to go back into the workforce, but it’s worth it-for you and the baby-to be doing what you love. Childcare is expensive, and juggling a child and a career is tough, but thousands, likely millions, of women (and men) do it every day. You can too.
See where you can cut back on expenses if you haven’t already, so that the money crunch (and there’s always a money crunch with a new baby no matter what your salary is) doesn’t hit you too hard. Once you set up a budget, and really take a hard look at what are “wants” and not “needs” and cut back accordingly, you may find the money for daycare pops up in the most unexpected places.
Be sure you keep your partner on board with all the major decision-making. If you’ve decided you do want to stay at home, and your partner disagrees, make a budget for costing out the return to work. Be realistic. But when you make the stay-at-home comparison budget, consider adding in an at-home part-time job-which can cut costs big time, and make the stay-at-home choice pretty appealing. Then be sure to get the job, or work something out with your current employer. You may be surprised at how accommodating your boss may be to the idea.
And don’t ask your mom. No matter how much you love your mom, now that she’s a grandmother, chances are she won’t be able to bear the idea of her little grand-darling being in a daycare (and will advise you accordingly). But unless she’s ready to come and take over while you’re at work, the decision to stay at home or return to the office, has got to be entirely your own.
The decision whether or not to stay at home or return to work is as personal as who you marry, or where you choose to live. No one can make the decision for you, so whatever you choose, make sure it’s the right choice for you.
Home Renovations and the Return on Your Investment
If you are considering doing some home renovations this summer to improve your house, there are a few things to know ahead of time. There are many projects that can increase the value of your home. There are also many that can decrease its value.
A recent Ipsos-Reid survey showed that two-thirds of homeowners are planning to undertake some type of home renovations this year. With so many Canadians investing in home improvement projects, it’s important to know how much of that investment will be recovered when they sell their house.
Many homeowners will embark on home renovation projects for their own purposes either to improve their quality of life, to meet their needs or simply to pamper themselves. Whatever your reason, it is necessary to assess the cost of the after affect of your efforts in the event you ever decide to sell.
One of the first rules of thumb is to avoid projects that set your house apart from all the other houses in your neighbourhood. If a house looks good on the inside, not only will it sell for a higher price, it will sell much faster. Sticking with local trends and avoiding passing fads is strongly advised. A successful project has nothing to do with the amount of money spent on an upgrade. If a kitchen renovation costs $30,000 but is done in poor taste, resulting in a poor layout, bad colour choices, cheap appliances and a useless work area, this would be an example of a renovation that could easily decrease the value of your home.
Each year, the Appraisal Institute of Canada surveys for the best home projects that yield the best return. Here is a list of their findings:
Highest return
- Bathroom upgrade: 75 percent to 100 percent
- Kitchen upgrade: 75 percent to 100 percent
- Interior or exterior painting: 50 percent to 100 percent
Medium-level return
- Roof replacement: 50 percent to 80 percent
- Replacement of furnace or heating system: 50 percent to 80 percent
- Finished basement: 50 percent to 75 percent
- Addition of family room: 50 percent to 75 percent
- Fireplace: 50 percent to 75 percent
- Installation of hardwood floor: 50 percent to 75 percent
- Construction of a garage: 50 percent to 75 percent
- Doors and windows: 50 percent to 75 percent
- Deck: 50 percent to 75 percent
- Central air conditioning: 25 percent to 75 percent
Low return
- Landscaping: 25 percent to 50 percent
- Interlocking paving stones on driveway: 25 percent to 50 percent
- Asphalt driveway: 20 percent to 50 percent
- Fence: 25 percent to 50 percent
- Pool: 10 percent to 40 percent
- Skylights: 0 percent to 25 percent
Source: Appraisal Institute of Canada
The Appraisal Institute of Canada also reminds homeowners who are considering a renovation, that “If the value of your house exceeds the average market value in your neighbourhood, your renovations will not yield much return. But if your house value is below the average, you can recover a larger part of the renovation costs.”
Baby Woes: Stay Home or Work?
Deciding whether or not to stay at home full time with your new baby is a big decision. It isn’t just about the finances, of course, but finances are one place where costs can be put down in black and white. That might not make the decision any easier, but you’ll know what you’re in for-at least financially!
Staying at home almost always means losing an income. In Canada, it often also means EI will become available, but that’s still generally little more than one-half what you may have once earned. Even with employer top-ups, you may find your income is lower than it once was. But does that mean returning to work will bring you in more money?
Most financial experts agree that, unless you are making one whopping salary, costs to keep your child in daycare will cost most, possibly all, and sometimes in excess, of the salary you make. Sorry as that may seem, it makes the financial considerations a good place to start when you’re debating staying at home versus returning to work once the baby arrives.
Doing up a budget that includes costs of childcare and related costs to working outside the home can be compared to a budget where one parent stays at home. There are lots of online budget calculators that can be used for this purpose-and a telling cost is that many of them have a single line regarding infant costs-day care.
If you do decide to stay at home, there may be ways to make up the difference between what your salary outside the home might be and what you can make working from home. Coupled with other money saving strategies such as breast feeding, cloth diapers (where reasonable), and making your own baby food, you may discover that your at-home salary is not a whole lot less-and may even be higher (gasp!)-than your working income used to be.
Another option might be to work part-time. Your employer may be ecstatic that you would like to continue some of your responsibilities from home. Another advantage to this arrangement is that the percentage of your home you set aside for work can be deducted from your income tax. And be sure to set aside a home space that is just for work-home and office functions work better when they’re separated physically from each other.
The decision whether or not to return to work is much more than one based solely on income, but finances are a good place to start thinking about it.
Vanishing Careers
Finding a new career today may be a challenge for some. For others, it may prove downright overwhelming. As demographics and technology continue to change, so do the working industries. Many of the jobs that were common ten or 20 years ago have disappeared or simply no longer exist. Some companies have gone as far to combine several different job areas into one responsibility as it is considered to be more efficient.
The following is a list of jobs that, for the most part, no longer exist. They may take you down memory lane, or may act as a guide in the event you are seeking a new career. Either way, these once sought-after jobs are either completely abolished or on their way out.
Door-to-door salesmen were once in high demand. They sold everything from frozen food to household products, knives and vacuum cleaners…even encyclopaedia sets. Since most households now have two working adults, there’s no longer anyone to sell to.
The milkman. Remembering the days when ice, milk and other dairy products were delivered straight to your door. With the vast array of products to choose from combined with high rates of theft, this service is no longer in high enough demand.
For the most part, secretaries have been replaced by technology. The once highly sought after secretary who was responsible for their boss’s correspondence, via steno pad and shorthand, is no longer found in an office. Instead, most bosses do their own communicating through email and cell phones and have assistants who co-ordinate schedules and keep things organized.
Gas jockeys can still be found but in diminished numbers. The once very popular after-school job has been replaced by, well, us, as auto drivers tend to pump their own fuel now. Combined with self-serve lanes and the convenient pay-at-the-pump machines, it’s only a matter of time before gas jockeys are a missed service. Especially when it’s minus thirty.
Used to buy candy or put towards a new toy, money from a paper route was not bad coin for many kids. The day of the paperboy (or girl) has gone. Newspapers have not disappeared even with many readers switching over to online versions of their morning news, but subscribers now find their newspapers have been delivered in the wee hours via adults with cars.
Placing a phone call once required a switchboard operator. The friendly human voice that would ask for the name and number of the person you would like to call has since been replaced with the self-serve system. Customers are now prompted to ‘Press 1 for…’ or just speak into the phone to access the service or person you are looking for via voice recognition.
So many of the jobs we once relied on for both work and for the service, have slowly died out for various reasons. Technology has come a long way in replacing many of these human-placed positions. It can prove intimidating to others who feel left behind by the technological advances.
Mass Marketing Fraud and You
If you are one of the thousands of people who receive e-mails that claim you have won money or have someone claiming to pay you for your help to transfer money you need to read this. Every year, these mass marketing scams are costing Canadians more than $10 billion and this number has been growing steadily since 2007.
Many of the offers that come streaming through your e-mail box will appear very legitimate, which is the key to getting unsuspecting people to open them. They are sophisticated schemes that offer things such as lotteries where they require money upfront in order to complete the transaction to send you the winnings. There are also many fake bank schemes asking for your personal information to update their system or other money schemes that single out people with bad credit then attempt to offer them loans (that never arrive) for an up-front fee.
There are also schemes that offer prizes from contests, but to claim any such prize, you must call a special 1-900 number, which ends up costing the consumer much more than the value of their winnings. There is also the Nigerian millionaire who needs your help getting money out of the African nation and offers a huge payment in lieu of your help.
The more recent of bad Canadian schemes is discounted auto insurance being offered in Ontario. People are sent fake insurance slips and convinced they are insured when actually, they are not. The RCMP says that most fraud in Canada is not reported. In 2009 alone, The Canada Anti-Fraud Centre received more than 25,000 consumer complaints about these schemes. That averages more than 430 calls a day, but that is anticipated to be a mere fraction of the real number as the RCMP believe between one and fiver per cent of Canadian victims actually come forward. The reason, they believe, is because fraud victims do not want to admit they’ve been had. The stereotype that fraud victims are stupid prevents many from reporting but it’s important to note that fraud victims include experienced business people, doctors, police officers and lawyers. It includes anyone and everyone.
Canada is officially a member of the International Mass-marketing Fraud Working Group that involves police agencies from the U.K., the Netherlands, Nigeria, Australia and the United States. Since 2008, the Canadian Anti-Fraud Centre has discovered and shut down more than 45,000 scammer e-mail accounts along with over 10,000 phone numbers. It has also been responsible for working with credit card companies in closing 150 merchant accounts that were posing threats to consumers by scammers.
These organized crimes are operating from one country but stealing from people all over the world. This has made it incredibly difficult to prosecute any of the scammers so the best that can be done now is to break the link between the scammers and their victims. A good rule-of-thumb to go by is to use common sense. If you have not entered a contest or a lottery or have shared with email address with someone you know, any outside contact is probably a scam.
Popular Low-Stress Careers
If you’re in the market for a new career and are seeking something less stressful that still allows you to comfortably make ends meet, there are options. Many jobs offer low stress days with reasonable pay.
One of the most in-demand careers at the moment are Computer Software Engineers. These tech-savvy folks enjoy a relatively low-pressure career while earning a decent salary. Their focus is designing and testing different software programs; anything from operating systems and business applications to computer games…and many do it all from home. Depending on variables, of course, a computer software engineer can expect an annual income of $54,000 to $130,000.
According to the Bureau of Labour Statistics, Civil Engineers are also in high demand. It’s expected that the demand for their expertise will increase by about 24% over the next ten years, making it an above-average occupation. Although they design and build the nation’s infrastructure, they generally do so within teams. As well, they have a few years to design and complete their projects before construction even begins, which alleviates a lot of personal pressure. They also earn a comfortable $50,000 to $115,000 a year.
If you’re looking for something a little more hands-on, perhaps you should be considering physical therapy. Physical Therapists are well respected in the medical field, have flexible hours and are usually self-employed. It’s expected they will be in higher demand over the next few years as the Baby Boomers hit their golden years and encounter physical challenges. With an annual earning of $50,00 to $105,000, you can see there is rarely a dry spell in this field.
Technical writers are also a high-tech, new age group that are in constant demand. These individuals are paid an easy $47,000 to $98,000 a year to write about newly released gadgets, programs and toys. As companies release technical products, technical writers are required to review and transform the language into a simple consumer language. They may face tight deadlines, but technical writers usually enjoy flexible days and a quiet work environment with a 20-second commute to their computer. This is another job that sees most people working from home.
If something even more relaxed, and possibly even part-time is what you seek, how about a massage therapist? These are generally extremely low-pressure jobs that ensure self-employment and even working part-time. Due to many factors in this field, an annual salary can be whatever you like. On average, a massage therapist will charge around $30 an hour. If you chose to take on many clients, you could easily earn $45,000 or more a year.
Travel and Your Canadian Dollar
Canadians have been so long with a dollar worth only pennies in exchange for US currency or the Euro, it almost goes against the grain to think about how to use the high dollar to our advantage. In early 2002, the Canadian dollar sank to less than $.62 against the American dollar. But our economic recovery has surprised pretty much everyone (even us!) and even our finance minister has said that the high value of the Canadian dollar is likely here for a while. So what are the advantages and disadvantages to the all-time high our currency is enjoying?
First, traveling in the US may or may not be cheaper. But with a Canadian dollar more or less at par, it becomes possible for many more Canadians. Instead of adding 30% or more to the cost due to exchange losses, visiting the US can at least be considered as a vacation destination. There are a few things to remember, though, if you plan a trip south.
Retailers more than a few hours across the border generally won’t accept Canadian dollars. Even if they do, they’ll not likely give you the current exchange rate. If you revert to your credit cards, you’ll still lose on the exchange (although not as badly as when the Canadian dollar was worth much less) and get dinged big time service fees as well. The best way to save with a high Canadian dollar is to make sure you exchange your money in to US funds at your bank before you head south. Then pay as much as you can with cash. For example, reserve your rooms with your credit card, but pay in cash.
Once in the US, of course, many products can cost much less. So take advantage of the buys and look for great deals, especially on clothes, books, some electronics, and if you’re buying really big, even vehicles. Even if the prices are no cheaper, sometimes the biggest bonus of shopping south of the border is selection and quality-both are nearly impossible to match in the much smaller Canadian market.
Traveling to Western Europe and the EU nations, however, is a different story. Europeans are well accustomed to dealing with all kinds of currencies, and give much better exchanges. The dwindling Euro means Canadian dollars can go a long way this year if you’re traveling abroad-right now one Euro will cost you about $1.29 Canadian, about 40 cents less than this time last year.
Not all EU countries will take your Euros-England and Switzerland, for example, don’t take Euros at all, even though they’re member nations. So before you change all your currency into Euros, check the countries where you plan to travel. In many cases, it’s better to use local money. But don’t change your currency at the airport where costs are through the roof. Many banks now will simply spew out the local currency at the ATM machine, only charge the exchange rate and no extra fees. Before you go, check if your bank offers this service.
The best thing about a high Canadian dollar is that it can allow you to think about traveling to countries that were out of reach only a few years ago, without breaking the bank to get there.
Baby Expenses That you Can Live Without & Ones your Baby Shouldn’t
You can go through a wad of cash as a first-time parent trying to sort out the must-haves, want-to-haves, and what-to-avoids when buying for your newborn. Some purchases don’t need to be made at all-like brand name toys or clothes. Some purchases are optional-like a mobile over the crib. Other purchases are absolute must-haves, and some are strictly regulated to ensure your baby is well protected. A car seat and your baby’s crib are perhaps two of the most important purchases you’ll make for your little one, so be sure to do your homework before you buy.
Car crashes are the number one cause of death for children, so a baby car seat is a purchase not to be lightly made. They are considered so important that you can attend a car seat clinic to be sure yours is installed properly. When you do buy, here are some key considerations:
- Car seats are specifically designed to carry children of a certain size and weight.
- Do not put your child in a seat that is either too big or too small. Newborns do not use the same seat as, say, a 2-year old.
- As your child outgrows a car seat, a new seat must be purchased for their continued safety.
- Always follow the manufacturer’s height and weight guidelines when buying your car seat, and read installation instructions carefully.
- For newborns, car seats are installed facing the seat.
- Consider attending a car seat clinic to be sure your baby’s seat is properly installed.
Transport Canada has terrific advice and information on baby and child seats. You can contact Transport Canada at 1-800-333-0371, or by email at roadsafetywebmail@tc.gc.ca.
Your baby’s crib is another critical consideration, and new parents may want to do some serious research before buying their child’s first. Here are some pointers:
- Health Canada warns that cribs made before 1986 do not meet current safety standards and cannot be bought or sold or even advertised for sale. Be sure that, if you buy a used crib, the original labels and dates are intact, and that the crib is dated later than 1986.
- Second, Health Canada also recommends that bumper pads should not be placed in your baby’s crib, nor should toys or other soft items be put in the crib.
- Third, the mattress should fit snugly on all sides to keep your child from slipping between the mattress and the crib bars. Worn out mattresses should be immediately replaced.
- Fourth, be sure that the crib is securely put together. Lock the sides of your child’s crib in place when you put your baby in it.
- Finally, keep your baby’s crib well away from windows, electric sockets, cords, or any other source of potential danger.
For more information, contact Health Canada at 613-952-1014, or by email at cps-spc@hc-sc.gc.ca.
According to the White House, 683,000 US Jobs Created in the First Quarter
There’s always speculation when it comes to actual public tallies, but according to the White House, the $787 billion stimulus package has created just under 683,000 jobs in the first quarter of 2010. Based on 179,000 reports filed by individual states, these 682,799 jobs were added primarily in the areas of road construction, police officers and teachers as the stimulus money was put directly towards these occupations. These numbers do not reflect jobs that were created indirectly through companies.
However, the White House’s Council of Economic Advisers tells a different story, claiming figures from the stimulus package were closer to 2.2 million and 2.8 million jobs through the same first quarter of 2010 and claims the massive American Recovery & Reinvestment Act project is still on track to fund a total of 3.5 million jobs by the end of the year. Even though both sets of figures have been praised by several governors for producing jobs in their states, the numbers simply do not coincide. A large difference between the two founding reports is that the White House’s Council of Economic Advisers findings are based on a mathematical formula that uses figures on how many stimulus dollars have been used for job projects and includes both direct and indirect hires.
According to a National Association for Business Economists survey, 73 per cent of them note that employment at their workplace is the same, not being any higher or lower due to the stimulus project. As well, a recent Pew Research survey for the Press said that 62 per cent of respondents admit that stimulus package has not helped the job situation at all.
Stimulus dollars are distributed and tracked on a cumulative basis, whereas stimulus jobs, reported quarterly, are not cumulative. Since the American Recovery and Reinvestment Act was passed in February 2009, a total of $205 billion has been awarded and an additional $62 billion has been distributed to recipients. In the fourth quarter of 2009, the stimulus plans says it funded approximately 600,000 jobs. However, 14 months after it was enacted, the Republicans point out that the high unemployment rate of 9.7 per cent is evidence it is not having the desired effect.
Despite reports of 15,200 full-time jobs being either created or retained in Pennsylvania, many economists still question the reports from the Obama administration and how much impact the Recovery Act has actually had. Money and job security has been an ongoing issue for many people.