Everyone admires Amazon’s scope and efficiency. Scammers are no exception. Recently, they’ve been piggybacking on Amazon’s reach and excellent name to pull off a scam that’s already taken in thousands of innocent victims. The scam – also known as the “fitness watch text” or the “Apple Watch raffle scam” – involves a congratulatory text message pop-up on consumers’ phones and the fraudulent promise of a big win.
Here’s all you need to know about the Amazon watch raffle scam: How the scam plays out In the Amazon watch raffle scam, the target receives a text message that appears to be from Amazon and tells them they’ve won an Apple Watch, or a similar prize, such as Airpods or a Garmin Fitness watch. The text may look like this: “Amazon: Congratulations [your name], you came in 2nd in this week’s Amazon Apple Watch raffle! Click this link to arrange delivery: t3fzv.info/7047VldUlg.” The text appears to be sent by Amazon, and the victim, thinking they’ve just landed a big one, will happily click on the embedded link. Unfortunately, this move will lead the victim to another page where they will be asked to provide their personal information to claim the prize. Alternatively, clicking on the link may download malware onto the victim’s device. In either scenario, there is no prize waiting at the end of the rainbow. Red flags For the informed consumer, it isn’t difficult to identify the signs of a scam. First, it’s important to note that Amazon will never ask a consumer for their personal information, such as their Social Security number or account information, or for remote access to the consumer’s device. Second, familiarize yourself with the red flags that can help you know when you’ve been targeted by an Amazon watch raffle scam or a similar ruse:
Avoid the scam Follow these precautions to protect yourself from becoming the next victim of the Amazon watch raffle scam.
Stop the scam Do your part to stop those scammers by reporting all scam attempts to the FTC and the BBB. You can also warn your friends and family about the circulating scam. Stay safe! Your Turn: Have you been targeted by an Amazon watch raffle scam? Share your experience in the comments.
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Q: What is a financial power of attorney and how does it work?
A: A financial power of attorney (POA) is a legal document that grants a designated agent the authority to act on behalf of the principal agent in financial matters. The designated agent is often referred to as the attorney-in-fact and the principal agent is often referred to as the “principal.” Here’s all you need to know about financial POA: What is the purpose of financial POA? The primary purpose of financial POA is to protect the principal and their family from a legal battle. The POA ensures that the principal’s finances will continue running smoothly, regardless of what happens to them. How does a financial power of attorney work? Financial POA allows the designated agent to manage all of the principal’s financial matters. This includes paying bills, managing all accounts and investments and signing financial documents. Financial POA is most commonly used when the principal is out of commission due to a medical emergency. Being laid up in a hospital bed does not mean the principal’s financial accounts are frozen and bills are put on hold. Having a financial POA in place will allow their finances to continue running smoothly until the agent is functioning in their usual capacity. Which powers are granted to the attorney in a financial POA? The extent of authority a POA grants can vary greatly, depending on how it’s worded. Most POAs extend the following powers to the agent on behalf of the principal:
When does a power of attorney become effective? The circumstances that dictate when a POA becomes effective will vary according to how the POA is worded. It may become effective as soon as it’s signed, or only upon the occurrence of a future event as indicated in the document. If the document stipulates that the POA is effective immediately, the agent can act upon the principal’s account even if the principal is not incapacitated in any way. This kind of POA is often used for an agent to represent someone who travels often and may not be physically present to make important financial decisions. Usually, though, a POA only becomes effective if the principal can no longer manage their own finances because they have become incapacitated, or one or more doctors have certified that they are physically or mentally unable to make decisions. This can be due to mental illness, a medical emergency, the onset of dementia, or any other event that renders the principal unable to function as usual. In some states, a POA automatically becomes effective when the principal is incapacitated, even if this is not indicated in the contract. When does a power of attorney end? The authority conferred by a POA will always end upon the death of the principal. Unless otherwise indicated in the contract or state law says otherwise, the POA also ends if the principal becomes incapacitated. If the authority continues after incapacity, it is called a durable power of attorney, or a DPOA. A POA can also end if the principal revokes it, a court invalidates it or the agent is no longer able to represent the principal. In some states, the POA also becomes invalid upon divorce if the agent is a spouse. What are the potential consequences of not appointing a POA? If an individual becomes incapacitated for any reason and they have failed to appoint an agent to act on their behalf, their financial matters will generally be left up to the government of their home state. If there are family members who want to step up, they will need to go through the courts to gain legal control of the principal’s finances. Generally, though, when someone does not have a durable power of attorney and becomes incapacitated, their financial accounts and assets will automatically revert to the state. Can anyone be granted power of attorney? Most states have very few guidelines for who can serve as a financial agent. The only general stipulations are that the document be signed, witnessed and notarized. Of course, it’s best to choose someone you trust to responsibly manage your finances in your stead. If you’re looking to set up a POA, we can help. Reach out to us at 570-888-7121 or shoot us a line at to talk about your options. Your Turn: Have you drafted a POA? Tell us about it in the comments. For the green-thumbed homeowner, there are few things as pleasurable as running fingers through soft, moist earth, catching sight of the first flowering buds of spring and inhaling the scent of freshly cut grass.
Tending to a lawn and garden can get expensive. Between seeds, fertilizer and gardening supplies, costs can be high enough to take the pleasure out of lawn care. Here are 10 creative ways to save on landscaping, so you can have your well-tended lawn and your budget, too. 1. Plant perennials Go green with your garden by choosing plants that flower year after year. You’ll have to pay more out of pocket when you first plant these blooms, but the cost-free plants you’ll have each year will more than make it worth the price. 2. Make your own compost Mulch and other soil products may keep your garden healthy, but they’re not as kind on your wallet. Save money by going the DIY route with compost. All you need is a designated outdoor bin to collect your old fruit and veggie peels, plant clippings and dead leaves. After a few weeks, you should have a pile of nutrient-rich soil ready to give your garden the boost it needs to grow and glow. 3. Grow and trade For a colorful variety of flowers, plant perennials that grow and multiply quickly, like Hostas or Daylilies. Within a few years, you should have more of these flowers and plants than you need. Then, you can trade them with friends and neighbors for new and interesting plants. 4. Propagate your plants Grow your garden by helping your plants propagate. You can do this by separating an already growing plant into two and replanting; rooting a leaf or rooting a small stem with leaves. You can propagate new plants in soil or in water. Find out more about propagating here. 5. Choose plants that are natural to your region For lower-maintenance plants, choose species that grow naturally in your area of the country. You’ll save on extra watering, soil correction and special plant food. 6. Shop the end-of-season sales The plants in the nursery and home improvement store won’t look too attractive in the fall, but that doesn’t mean they’re useless. Plants that look wilted now can grow beautifully in the spring, as long as the roots are alive and well. Best of all, you can score these healthy plants at bargain prices. While you’re shopping during the fall sales, you can pick up discounted potted plants, planters, gardening tools, lawn chairs and more. 7. Leave your grass clippings Looking for an easy and cost-free way to improve your lawn? You already have one! Just leave your grass clippings on the lawn after mowing instead of cleaning them up. The clippings will break down quickly, adding organic matter and nutrients to your grass. 8. Don’t cut your lawn too short Shorter grass attracts more weeds and will need more herbicides. Higher grass will shade out those pesky weeds while also developing a deeper root system, thus requiring less watering. Keep your grass at 2- 2 ½ inches for best results. 9. Pay attention to pH It’s important to measure and control the pH level of your lawn. If the ground is too acidic or alkaline, your plants and grass won’t absorb nutrients, no matter how much fertilizer you feed them. Ideally, pH levels on lawns should be between 6.5 and 7. If your lawn’s pH level is too high or too low, you can add lime or sulfur to correct it. 10. Save extra flower seeds Bought too many seeds to plant this year? No worries; you can save them for another year! Most flower seeds will keep well if stored in a cool and dry place. You can even buy seeds in bulk with plans to save the extra for a more cost-effective purchase. Gardening is fun and rewarding — and it doesn’t need to cost a lot of money. Use our tips to cut back on landscaping costs without compromising on the health of your lawn. Your Turn: How do you save on landscaping costs? Share your best tips and tricks in the comments. Spring is a great time of year to clear your house of accumulated junk and make it sparkle. Why not do the same for your finances? Junk can accumulate there, too. In fact, some of your money matters may need a good wipe down this season. It is especially true this year, when many Americans are still recovering from the financial fallout of COVID-19, or maybe wondering how to use the latest round of stimulus checks. Whatever your current situation, a thorough spring-cleaning for your finances is a responsible move this time of year.
Here are some ways to spring clean your finances: Sweep out your budget It’s time to shake out the dust in your budget! Review your monthly spending and find ways to cut back. Have you been overdoing the takeout food this year? Buying up more shoes than you can possibly wear? Pare down your budget until it’s looking neat and trim. Freshen up your W-4 Tax season is prime time for revisiting the withholdings on your W-4. If you received an especially large refund this year, you may want to adjust the amount you withhold. The IRS’s tax withholding estimator can be a useful tool to help you determine the perfect number. Deep clean your accounts If you’ve switched from one bank or credit union to another, you may have dormant accounts that are still open and may be charging you fees. Or, perhaps they’re holding onto money you’ve forgotten you have! And don’t forget about the 401(k) you may have from an old job. Now may be the time to transfer those funds to your current 401(k). This spring, do a Marie Kondo on your finances and get rid of any accounts you don’t need any longer. A minimalist approach to your finances will make it easier to manage your accounts. It will also give your savings a greater chance at growth, and help you avoid fees for unused accounts. Toss out your debt Get ready to kick that debt for good! If you’ve been stuck on the debt cycle for too long, make this spring the season you create a plan to break free. First, trim your budget or consider a side hustle for earning some pocket money, designating these extra funds for your debts. Next, choose a popular debt-busting approach, such as the avalanche method, in which you pay off debts in order from highest interest rate to lowest, or the snowball method, where you start with the smallest debt and then move up your list as each is paid off. Once you’ve chosen your approach, maximize payments to the first debt on your list, making sure not to neglect the minimum monthly payments on your other debts. Before you know it, that debt will be gone! Dust off your saving habits Have you been remembering to pay yourself first? Get into the habit of maximizing your savings this spring with a tangible financial goal. You can also make savings an itemized line in your budget. This way, you’ll have funds set aside for this purpose, instead of savings only happening if there’s money left over at the end of the month. Finally, automate your savings by setting up a monthly transfer from your checking account to your savings account. Never forget to pay yourself first again! Make your investments sparkle Whether you’re an experienced investor or you’re just getting your feet wet, it’s time for a spring cleaning of your investments! Check if your allocation strategy is still serving you well, whether you need to adjust your diversification and if your retirement accounts are on track for your estimated retirement timeline. Make your stimulus count Don’t let your stimulus payment and tax refund blow through your checking account. Instead create a spending plan for the funds that includes paying down debt, allocating some of the money for long-term and short-term savings and possibly investing another portion of the payment. Don’t feel guilty about using the rest of your stimulus check to splurge on a purchase or experience you’ve been wanting for a while now. The money is being distributed with the hopes that it will help stimulate the economy, and the best way to do that is to spend — just don’t go overboard. Spring is the perfect time to give your finances a thorough cleaning. Follow our tips to make your money matters shine! Your Turn: How are you spring cleaning your finances this season? Share your tips with us in the comments. |
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