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Your Magazine of Personal Finance July–August 2014

Get Your Summer Grill On– Create the perfect Savings barbecue feast Warm-weather getaway tips

Best Staycation PLUS Ever! Identity Theft: A An economical and Quiz for Consumers enriching experience Financial Boot Camp Best Kept Secrets: Keeping Connected European destinations that on the Go aren’t famous—yet

It’s summer, and vacation season is here. July–August 2014 Enjoy it—without breaking your budget. We’ve dedicated this issue of In the Loop to helping you maximize your enjoyment of the season while not sacrificing your budget in the process. 4 f you’re planning to take some great ideas to help you have the such as identity theft. Avoid Itime off in the next few months best ‘staycation’ ever. Because having your personal information to enjoy a vacation, you’ll want to there’s no better way to top off a compromised by taking the Features check out our tips for stretching day of summer fun than a delicious identity theft quiz starting on page 4 • Summer Vacation Savings | These money-saving tips can help your getaway budget and our barbecue, we’ve also rounded 14, and see if there are any changes you control the costs of your warm-weather getaway. feature on some of Europe’s lesser up some of the best grilling tips, you can make to better safeguard 6 • Best Staycation Ever! | More Americans are finding that staying known—and amazing—vacation techniques, and tools to help you, yourself against identity theft— home for a vacation can be an economical and enriching experience. 6 destinations. Or, if you are looking “Get your grill on!” whether at home or on the road. 8 • Get Your Grill On! | Learn some great grilling techniques, tips, and forward to enjoying a more low- While a summer vacation is For those of you who may have tools to help you create the perfect barbecue feast. key vacation schedule by sticking ideally a carefree adventure, going veered a little off track in regard to 10 • Financial Boot Camp | If you let your New Year’s financial close to home, we’ve also got some to unknown places and being away meeting the financial goals you set resolutions slide, here’s some motivation to get you back on track. from home can also make you for yourself at the beginning of the 11 • Keeping Connected on the Go | These tools can help you stay vulnerable to crimes year, check out the Financial Boot organized and in touch with your “peeps” when you are on the road for Camp article to get back in tip-top business and pleasure. financial shape. If you need a more 8 in-depth financial tune-up, please give our office a call—we would be happy to help. Departments We hope you enjoy this issue 2 • From the Firm | It’s summer, and vacation season is here! Enjoy it—without breaking your budget. of In the Loop, and we wish you a happy and safe summer. 12 • Life & Living | Best Kept Secrets: Consider traveling to these European destinations that aren’t famous—yet.

Sincerely, 14 • Mind Flex | Identity Theft: A quiz for consumers 12 Your Trusted Accounting Advisors In The Loop is published by rwc360 LLC, 1516 S. Walnut St., Bloomington, IN 47401 (www.rwc360.com) and distributed as a courtesy by professional services firms nationwide. This publication is intended to provide general information only and is not to be construed as providing financial, legal, or other professional advice or services. The information and points of view presented may not be appropriate for your specific financial position or circumstances. Contact a financial or legal professional before making any decisions or plans regarding your financial management. 2 | In The Loop July–August 2014 | 3 Summer Don’t Miss These Tax Vacation 4. Check your 5. Bundle deals to social networks. save your budget. Deadlines Savings Many airlines, , and experts advise that bundling Keep these dates handy to now use their Twitter your purchases for airline tickets avoid paying penalties: These money-saving feeds, Facebook pages, and other and accommodations is usually social networks to promote deals far cheaper than buying them a la tips can help you that are otherwise unadvertised. By carte. Also, consider all-inclusive Business Tax Deadlines connecting through social media packages, which offer the control the costs of your with various travel providers, you total cost upfront and give you • March 17, 2014 get access to valuable deals that can control over expenses. Filing Deadline warm-weather getaway help your vacation dollars go further. • Sept. 15, 2014 Extension Deadline

t’s officially the summer season, which for many of out, and all of the little “extras” that often While taking a vacation is supposed to be the ultimate Estimated Quarterly Tax Ius means it’s time for a vacation. As the pace of work entail can add up quickly—leaving you cash-strapped stress reliever, when it comes to budgeting, it can Payment Deadlines slows a little and the kids get out of school for a few if you’re not careful. To help you make the most of 1st Quarter: months, it’s the perfect time to plan a getaway to see your vacation budget, we’ve compiled the following sometimes be stress-inducing. Try out these tips to reduce some sights or simply relax. However, travel, dining money-saving tips. costs, but not the fun of your summertime getaway. April 15, 2014 2nd Quarter: June 16, 2014 3rd Quarter: September 15, 2014 4th Quarter: January 15, 2015

1. Embrace spontaneity. 2. Learn about traveling 3. Consider more than just 6. Make friends with 7. Stock up on groceries. Individual Tax Deadlines Being flexible with both your during “shoulder seasons.” flight or ground travel costs. your hotel concierge. Dining out while on vacation can destination and vacation dates is While summer is a popular time For many of us, the cost of a flight, Hotel staff are usually one of the be one of the most enjoyable parts April 15, 2014 a great way to get some of the best to get away, there are often deals to gas, or rental car may be a significant best resources when it comes to of being away from home, but it can Filing Deadline travel deals available. Sign up for be had on hotels and flights closer expense and the key decision point finding out about local deals and also be expensive, especially if you Oct. 15, 2014 deal alerts on travel planning or to the middle and end of August. in our vacation plans. However, it discounts. Plus, they may be able have children in your travel party. Extension Deadline airline websites and consider taking This is a period that travel experts is important to look beyond just to upgrade your accommodations One way to cut your food bill is by advantage of those that fit your call “shoulder season” because it the travel costs when considering and offer you coupons or free passes visiting a grocery store or two during budget and the type of trip you wish falls between peak season and off- where you want and can afford to to local attractions. So, don’t be your . Snacks, beverages, and IRA Contribution Deadline: to take. You’ll save a considerable easy breakfast options are three season. For example, April through go. For example, while it might shy when you arrive at your hotel. April 15, 2014 amount of money by doing so. May and mid-August through be less expensive to fly to London Strike up a friendly conversation areas where you can save a lot of October are ideal times to travel than it is to Santorini, looking at with the staff and you’re likely to money—and save yourself from If filing an extension, you to Europe when the weather’s still daily expenses for lodging, food, enjoy some savings. the inconvenience of researching have until Oct. 15, 2014. nice but there aren’t too many and entertainment actually makes restaurants or stopping frequently tourists. Educating yourself about Santorini the better bargain. The for snacks and drinks. Plan ahead the ebbs and flows for point is, keeping in mind what you when you book your hotel—ask if Please visit www.irs.gov different vacation destinations can are paying for beyond travel expenses a free breakfast is offered and if in- for additional information. help you choose the least expensive and the impact of exchange rates room refrigerators or kitchenettes times to travel. on your purchasing power is key to are available. Taking advantage of determining true vacation costs. these options offer you even more savings by allowing you to prepare meals in your room. 4 | In The Loop July–August 2014 | 5 Best Staycation

Catch up with your neighbors Ever! at a casual backyard get-together. More Americans are of household chores. Otherwise, delivery service that you can eat so try pitching a tent in your finding that staying you’ll default to your standard lounging in your backyard—or own yard, or make a reservation routine and feel like you didn’t get even your bed! at a local campground. You may at home for a vacation a break. See what the neighbors are up wish to restrict cell phones and can be both an To get you started, the following to. It could very well be that your other mobile devices during your are some fun ideas that you can neighbors are craving a relaxed camp adventure to stimulate economical and an use to make your staycation a get-together. If this is the case, plan conversation. If fire regulations enriching experience. memorable one. a block party or do some reciprocal allow, plan for a campfire in Document your staycation entertaining during your time off. the evening while searching with photos or videos, just as Don’t know your neighbors? Now for constellations, roasting you would if you went away for would be a good time to invite marshmallows, and telling stories. vacation. You may even want to them over for a barbecue or at least Add a global perspective to consider buying a few postcards of stop for a few minutes to talk. your staycation by incorporating your local community and sending Take up a treasure hunt. some international themes. You them to relatives that you haven’t Whether you have kids or not, a could start by brainstorming places corresponded with for a while. treasure or scavenger hunt is a fun you would like to visit on your Feast like a local foodie. For way to spend a sunny afternoon. next out-of-home getaway. You many people, travel is all about The anticipation of finding a prize can then throw a party, complete scoping out the hottest restaurants excites both kids and adults alike. with decorations, costumes and and tastiest local cuisine. If you’re technologically savvy, you authentic cuisine from your ideal Explore your own neighborhood could also incorporate geocaching locations. You can even watch restaurants and make a reservation into the mix, allowing you to movies set in your chosen locale, at a new place you’ve been wanting widen the geographic span of your which may take you one step closer to try or visit a family favorite. Just hunt and improving your odds of to planning. he staycation—taking time off A recent consumer poll think in advance about maximizing make sure that you take the time locating far-flung treasures. While there’s no doubt that Tfrom your normal schedule, estimated that just over 40 relaxation potential. Just as you to relax and savor every bite. You Set up camp in your own taking a trip to an exotic destination but staying at home instead of percent of U.S. vacationers this would with a regular “away” may even want to schedule a stop backyard. Camping has long can be fun and exciting, it can traveling—has grown in popularity summer will opt for a staycation vacation, remember to schedule a at your local farmer’s market or served as a top vacation option also be expensive and somewhat over the past several years. It is or shorter weekend trip over the beginning and end to make your orchard to pick up some local fare for frugal families because all you stressful. A staycation offers a nice an especially popular choice for traditional longer getaway. Because staycation feel official. In addition, and try out some new recipes in need to enjoy the great outdoors alternative—offering a great way to people who are short on cash, staycations tend to be shorter and plan out your activities for each the sanctuary of your own kitchen. is a tent, some basic gear, and a relax, connect with loved ones, and time, or the patience to endure keep you in your regular daily day and don’t fall into the trap of If your budget allows, you could sense of adventure. It’s also the discover new and fun places close travel hassles. living environment, you need to using your staycation to take care also pay for a meal or two from a perfect activity for a staycation, to home. 6 | In The Loop July–August 2014 | 7 Gas Versus Charcoal You’ll also want to prepare Versus Wood your grill by heating it to max There is some snobbery in the temperature (if gas) or stoking the Some grilling world. The “purists” stand embers at its peak temperature. firm that meats cooked over Then use a wire brush to clean any Helpful charcoal taste better while wood- debris from the cooking surface. Tips fire grillers offer science to claim Before adding food, try either best taste. The gas grillers, well, applying a light coat of cooking they have their opinions as well. spray/oil, or lightly coat the food Searing meat when it So extreme are some grillers in in olive oil before putting it on the first hits the grill can their art, that a professor of food grill. This helps prevent meat and seal in the flavor. science at Cornell University veggies from sticking and, in some To do this on a gas grill, actually studied the three cases, falling apart. have it as hot as it can be methods. The results showed that and place the meat on a resin in some hard woods can the hottest area for about produce a flavor people associate one minute with the grill with bacon, which is absorbed lid closed. Then flip the by the meats above it. In terms steak and do the same for of flavor, wood-grilling seems to one minute. Finally, move have proven a leader. Nonetheless, the steak to a cooler area as far as which method is the of the grill, or lower the “best,” it still just depends on who temperature by opening the you ask. top and cook at about 300 Gas grillers tend to appreciate There’s an App for That degrees until you achieve the simple convenience of a fire your desired “doneness.” that can be lit and put out in an instant. Gas grills make it easier to When cooking with charcoal control the temperature, and you or a smoker, determining and When grilling burgers, aren’t left with a pile of ashes. maintaining a precise temperature don’t flatten them And then there’s smoking. No, can be more difficult than with a gas with a spatula. Get Your Grill On! not the tobacco or Colorado kind, grill. But fear not…there’s an app This pushes out juices and for that. Perfect for the backyard but the Kansas City BBQ kind. can cause the fire to flame grill master who may have to step Applying just a few of these tips, While there are many variations, up, burning them and away from the fire for a while, the in general it’s cooking meats at making them far less tasty. CyberQ WiFi is a temperature tools, and techniques, will help you comparably low temperatures When possible, only flip control device that can be added (200-225 degrees) for several burgers once. pull off your best barbecue yet. hours, often overnight. While to any grill or smoker. It uses a fan system that turns on when there are propane and charcoal Before you eat, smokers, the most common the temperature needs to rise and method is with wood, often oak, turns off when it needs to cool. let your steak hickory, mesquite or fruit tree This keeps the charcoal grill or burger rest. f you’re a backyard or patio aficionado, then you’ve woods. When done to perfection, at a consistent temperature for Yes, you’re the one who probably taken the cover off of your grill and are ready to the result is fall-off-the-bone ribs, hours on end without having to did all the work, but I constantly check on it and adjust brisket, ham, chicken, and other “resting” meat for about connect to the primal urge of cooking meat over fire. Of delicious foods. dampers. It works with any WiFi- 5 minutes after it comes course, you can also cook vegetables…or seafood. The fact enabled device, alerting the cook off grill allows the meat to Before You Put the Meat On… to temperature, time, status, and continue cooking evenly. For is, just about everything tastes better from the grill. other data. With integrated meat For gas grillers, it’s handy to steakhouse flavor, add a pat thermometers, it can monitor Whether you cook with charcoal, wood, or propane— have an extra propane tank. It of butter to the top of your the temperatures of up to three eliminates worry about whether meet during resting time. and no matter your favorite fire-cooked substance—these different food items, and can even the tank will go empty (and the let you know when the lid is open. tips will help you grill to perfection. fire will go out) in the middle of grilling that awesome rib eye. 8 | In The Loop July–August 2014 | 9 TransUnion. One motivator for paying off this kind of high-interest Financial Boot Camp debt is to improve your credit Keeping Connected On the Go score. Remember, consumers with hese tools can help you stay media is a valuable communication desired, share them with select groups poor credit have trouble qualifying If you’ve let your New Year’s financial organized and in touch with tool. If you don’t want to bore of people. It can be used through a for low interest rates on car, home, T your “peeps” when you are on the grandma with the video, you may desktop computer or virtually any and other loans. resolutions slide, here’s some road for business and pleasure. choose to use Facebook’s messaging mobile device and is secure, allowing motivation to get back on track. Planning for retirement. Mobile technology has come a feature or set up lists, so that clients users to access documents without If you aren’t taking advantage of long way since the first commercial and colleagues see work-related attaching them to emails. mobile phone came out in 1983. posts, and only friends and family an employer-sponsored or self- Keep Your Devices Powered Up hink back to this past January, term obstacles or more pressing directed retirement account, it’s But before long, it wasn’t enough see personal posts. Few things can throw a wrench Twhen the year was new and financial needs. Research shows time to reconsider. The money you to just be able to make calls from More Mobile Tools into your mobile connectivity you were enthusiastic about setting that of the 45 percent of Americans contribute to a 401(k) or IRA is wherever the user was; soon we Evernote is a free and easy-to-use than having your device’s battery financial goals. Perhaps it seems who make New Year’s resolutions, tax-deferred, and many employers wanted to send text messages. Then app that can sync your data from all run dry when you don’t have easy like a distant memory—and the only eight percent achieve them— match up to three percent of we wanted access to email, then of your mobile devices and online access to a power supply. This can objectives that you were trying with a full 25 percent of people employee salaries. mobile websites, and finally we just to reach have been giving up within a week of making wanted access to everything from programs. With it, users can take make your trip to the beach or park pushed aside them. Recalibrating your investments. our smartphone to tablet. notes, photos, make to-do lists, scan more stressful, so maintain your by short- If you have delayed pursuing Now is an ideal time to review While the rapid development business cards, create voice reminders, sanity by bringing along a portable your financial resolutions, don’t your portfolio—a practice in which to achieve these functions has been digitize documents, and many other battery charger. These mini devices despair—the year is only half investors periodically adjust their impressive, it still wasn’t enough. functions, and then share selected can be charged at your home or over. You still have time to mix of investments to keep them in Because we wanted apps to help items with social media or friends. office, then taken with you when achieve your monetary line with their target asset allocation. us with everything from accessing Skype offers free video calling while on the road to recharge your phone resolutions by December If you’re not sure where you should financial accounts, maps, music, on the road, assuming you have a or tablet. Some models, like the 31. In fact, the half-year be investing or how much, it could games (of course), and even our high bandwidth mobile phone/device myCharge Peak 6000, can charge mark is a great time be a smart investment of time and lifestyles, such as running distance, plan, since it uses data instead of voice up to three devices at once, adding to re-examine your money to get some professional help calorie counters, and apps that minutes. up to 27 hours of talk time to a financial behaviors and work with the backyard grill. smartphone. from a certified financial planner. DropBox is a simple tool that lets users adjust your spending, There is a professional side, save files to the cloud and, if Unplug Occasionally saving, and investing Making and of course, and few professionals strategies—but you respecting a budget. would be able to function effectively Part of the purpose of getting need to take changing If you didn’t quite get around to without their mobile devices, away is to really unplug. For them seriously. creating a budget in January, there even when they aren’t really most of us, a call on the So enlist in your is no time like the present to track mobile. Being able to complete the weekend is not generally own financial boot your monthly expenditures and simplest of tasks while commuting, an emergency. So give camp to tackle these develop a plan to cut costs on the at lunch, or at a child’s school event yourself an occasional financial resolutions : discretionary living expenses that can boost productivity. tech break to spend are straining your wallet. time outdoors with Paying down credit card debt. Everybody Does It your kids, or on a If you promised yourself at the Building an emergency fund. You’re already on Facebook, date night with beginning of the year that you Do you have six months of living LinkedIn, Pinterest, or one of the your significant would pay off your credit cards, but expenses in your bank account? plethora of new social media sites. other. you still have at least one balance, That’s how much many financial If not, you may be one of the last it’s time to buckle down and experts advice that we should have to join. These platforms make start siphoning funds into extra on hand to provide ample financial it easy for friends and family to payments on this debt. The average protection from unanticipated stay connected from anywhere. credit card debt per borrower events, like a major car or home There are also apps like HootSuite in the United States is repair or a job loss. To ensure that and TweetDeck that allow you currently around you don’t get caught off guard to manage multiple social media $4,900, according financially at the end of the year, accounts at the same time. to a recent start today by putting a portion of Whether posting messages report by your savings into an emergency about your vacation, showing fund that you can easily access. grandma the latest pics of your kids, or posting a video that shows your expertise in a certain area, social 10 | In The Loop July–August 2014 | 11 Life & Living

Cork, Ireland Ljubljana, Slovenia Then sample Moravian wines and Cork is often referred to as the Ljubljana may be the prettiest city local cuisine at a you have yet to visit. The capital “real capital of Ireland.” Dublin Toruń, Poland Best (the actual capital) is great, but city of Slovenia boasts a blend if you’re looking for a city that is of cultures, including German, Who doesn’t want to hang out in a Kept easy to navigate with locals that are Slovenian, and Mediterranean. A walled Gothic city? Toruń is a great friendly and welcoming, Cork is medieval castle is just outside the change of pace from overcrowded for you. The city is also known for city center. Warsaw and Krakow and has plenty Secrets: of history, culture, and activity its “foodie” restaurants, pubs, and Basel, Switzerland live music. to enjoy. Toruń’s claims-to-fame European Genoa, Italy Basel sits on the Rhine River, include being the birthplace of destinations Lyon, France Italy has no shortage of awesome near the borders of Germany and Copernicus and being founded by With vibrant nightlife, an array of cities, but one that often gets France, giving the city a unique the Teutonic Knights. You can still that aren’t museums, and lots of shopping, overlooked is Genoa. The hilly, multi-national flair. The city is a visit the Teutonic Knight’s Castle Lyon gives Paris a run for its money. ancient maritime city is known culture buff’s heaven. Basel also ruins today! for its winding streets, colorful has the largest concentration famous—yet Make sure to check out the Musée Bergen, Norway des beaux-arts de Lyon and Parc de buildings, and breathtaking of museums in Europe. any Americans are intrigued waterfront location. Genoa’s old When you think of Norway, you la Tête d’Or— France’s largest park. Manchester, UK Mby the thought of exploring port, Porto Antico, features a probably picture lots of gorgeous Europe. However, we often tend Helsinki, Finland palm tree-lined promenade, cafes, Manchester is famous for its outdoorsy locations and Oslo. to overlook smaller cities for Set on the Gulf of Finland, and an aquarium. The old town unwavering love of its soccer But Bergen definitely deserves some famous destinations such as Helsinki is a sea town with a quirky will immediately you teams, the lively music scene attention. Bergen is a lively city with Paris, London, Venice, and Rome. personality. Explore the harbor and to medieval times with its narrow (Manchester is the hometown excellent nightlife and restaurants While these cities are certainly watch ferries come in and out of cobblestone streets and the San of the Smiths and Oasis), and its and a beautiful waterfront. It’s also magnificent, they may not offer port, check out museums, take a Lorenzo Cathedral. welcoming atmosphere. Be sure the gateway to those famous fjords, some of the charm and less classic Finnish sauna, or hang out to visit The Lowry art center, do including Sognefjord. tourist-centered experiences that in one of the city’s many parks and Bratislava, Slovakia some shopping at Affleck’s Palace smaller, less-traveled cities do. green spaces. Bratislava perfectly combines market, and round out your day nature and urban life. The Danube with a trip to a pub to take part in Recently, The Huffington Post Budapest, Hungary rounded up the following list of the River winds through the city and Manchester’s spirited nightlife. Budapest is gaining traction as the Small Carpathians are only a best and most often overlooked Split, Croatia European destinations that you a new favorite for travelers. It’s stone’s throw away. Starý Mesto A seaside town with a ton of may wish to visit before they often considered one of the most (the old town) features 18th- historic wonders, Split has the best become über-popular, crowded, beautiful cities in Europe with century buildings, cozy cafes, of both worlds. The city is home and expensive. distinctive architecture and a and Bratislava Castle. romantic setting on the Danube to Diocletian’s Palace, a UNESCO , River. Sample Hungarian cuisine, World Heritage Site, along with Rhodes Town, Greece soak in the hot springs, and explore Odense is the quirky little capital bars, restaurants, and shopping. The Surrounded by some of the bluest the city’s complex history. of , the third largest island city’s coastal mountain backdrop in Denmark. The fact that Hans can’t be beat. waters in the world, this Rhodes Innsbruck, Austria Christian Andersen was born Town is bursting with historic Brno, Czech Republic Innsbruck is the capital of the here makes this storybook town sites and modern indulgences. In Tyrol region in the western part of even quainter. The town’s main Located in the province of Moravia, the Old Town, you’ll find a maze Austria. The city sits in a valley with attractions are an open-air Brno is the “anti-Prague.” Here, of ancient streets, Roman ruins, mountains towering above it. On museum, Funen Village, and the wine is the drink of choice, there medieval castles, and Byzantine any given day in Innsbruck, visitors Odense —along with many are far fewer crowds, and cultural mosques. In the New Town, shop can tour the awe-inspiring Imperial restaurants and cafes. activity abounds. Visit crypts, the upscale boutiques, bistros, bars, Palace, ride the funicular up to castles, churches, and museums. and an amazing beach. the slopes, and spend the evening Source: Overlooked European Cities You Must Visit In Your Lifetime (2014, March 18). chilling in a pub among the locals. The Huffington Post. Retrieved from: http://www.huffingtonpost.com/2014/03/18/overlooked-european-cities-_n_4914564.html 12 | In The Loop July–August 2014 | 13 Mind Flex Identity Theft: A Quiz for Consumers Yes | No 6. I request a copy of my credit report at least once a year. Do you know how you can reduce the risk of becoming a victim of identity theft? Keep track of the questions that you answer “yes” and “no” to, then see how you score: Reason: Any consumer can request one free copy of his or her credit report per year. Reviewing your credit report can help you find out if someone has opened unauthorized financial accounts, or taken out unauthorized loans in your name. Contact the three major Yes | No credit bureaus to request a copy: Equifax: 800.685.1111 Experian: 888.397.3742 Trans Union: 800.916.8800 1. When I keep my ATM cards and credit cards in my wallet, I never write my PIN (Personal Identification Number) on any of my cards. Reason: If you lose your ATM or credit card, identity thieves or other criminals can have instant 7. If the volume of the mail I get at home has dropped off substantially, access to your bank or credit card accounts. I always check with my local post office to see if anyone has improperly filed a change-of-address card in my name. Reason: Some identity thieves may try to take over your credit card and bank accounts and 2. When I leave my house, I take with me only the ATM delay your discovery of their criminal activities by having your mail diverted to a new address. and credit cards I need for personal or business purchases. Your local post office should have on file any change-of-address cards and can respond if you find that someone is improperly diverting your mail. Reason: If your wallet or purse is lost or stolen, and you’re carrying fewer cards, you’ll have to make fewer calls to banks and credit card companies to report the losses, and the odds of fraudulent charges in your name will be lower. 8. If I think that I may be a victim of identity theft, I immediately contact: 1) The Federal Trade Commission to report the situation and receive guidance 3. When I get my monthly credit card bills, I always look carefully at on how to deal with it. 2) The three major credit bureaus to inform them of the the specific transactions charged to my account before I pay the bill. situation. 3) My local police department to file a report. 4) Any businesses where the identity thief fraudulently conducted transactions in my name. Reason: Someone who gets your credit card number and expiration date doesn’t need the actual card to charge purchases to your account. If you don’t look closely at your credit card Reason: Identity theft is a crime under federal law and under the laws of more than 44 states statement each month, you might not have any recourse if fraudulent transactions go through that carries serious penalties, including imprisonment and fines. To help law enforcement in and you don’t dispute them promptly with your credit card company. As soon as you see investigating and prosecuting identity theft, the Federal Trade Commission (FTC) maintains a unauthorized charges on your statement, contact the credit card company immediately to national database of complaints by identity theft victims. The FTC, through a toll-free hotline report them. (877.ID.THEFT), can also help you decide what steps to take in trying to remedy the situation and restore your credit. You should also contact credit bureaus to flag your credit report, your local police to file a report. This provides you with a paper trail to show creditors that an identity 4 When I get my monthly bank statements, credit card bills, or thief has been conducting certain transactions in your name and without your permission. other documents with personal financial information on them, I always shred them before putting them in the trash. Reason: Some identity thieves aren’t shy about “dumpster diving”—literally rooting through trash bins to look for personal financial information. Buying and using a shredder in your home How did you score on this quiz? or office is an inexpensive way to frustrate dumpster divers and protect your personal data. If you checked even two or three “No” boxes, it means that you need to take more of the precautions described in this quiz. Remember that identity thieves, unlike robbers or fraudsters, don’t have to have 5. When I get mail saying that I’ve been preapproved for a credit card, any personal contact with you in order to commit their crimes. The more you do to protect your personal and don’t want to accept or activate that card, I always tear up or information, the lower the odds that you’ll become a victim of identity theft. shred the preapproval forms before putting them in the trash. For more information about identity theft, go to the Federal Trade Commission’s Identity Theft Webpages Reason: If you throw out the documents without tearing them up or shredding them, at www.consumer.gov/idtheft. “dumpster divers” can send them back to the credit card company, pretending to be you but saying that your address has changed. If they use the account from a new location, you may not Source: United States Department of Justice. http://www.justice.gov/criminal/fraud/websites/idquiz.html know the account is being used in your name until you see it on a credit report (see question 6).

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