pwfm Men and Money

Survive the Tough Times

Here’s some more intelligence from our Money Survival Guide to help you survive tough times:

• Is it safe to use ATMs NOT connected with a bank? The answer: Not always. Anybody with a bankroll can put an ATM in a convenience store or shopping mall. Once you swipe your card and punch in your PIN number, they’ve got your account info. Even though most owners are on the up-and-up, stand-alone ATMs aren’t monitored as closely as those bolted to bank walls, so they’re easier to tamper with. Thieves sometimes glue “skimmers” over the card slot to record your card info and PIN number. The fix: If you use non-bank ATMs, change your PIN number every few weeks, pay attention to your account activity, and immediately notify your bank of any suspicious transactions.
• What happens to your plasma TV warranty if the store where you it goes bankrupt? According to the International Council of Shopping Centers, nearly 6,000 stores will close this year, but some businesses will continue coverage with a third-party provider. So, ask the store’s service department for the appropriate contact information and follow up to confirm that you’re covered. If your warranty lapses the moment the store shuts its doors, you still might be able to find warranty protection from the TV manufacturer, or the credit card you used for the purchase.
• Is it wise to freeze your credit? Yes and no. Freezing your credit involves paying a $10 fee to each of the three major credit bureaus, Experian, Equifax and Trans Union. It keeps banks and other companies from checking your credit. Which means, identity thieves can’t open accounts in your name. The problem is, you can’t open any accounts either and you’ll have to pay another fee to temporarily lift the freeze if you apply for a job, buy a cell phone, or install utilities at your new home. Another option: Enroll in a credit monitoring service, which contacts you whenever somebody checks your credit. All three agencies offer inexpensive monitoring programs.