by Judy Corbus | Oct 10, 2017

Photo credit: Judy Corbus
If you have been affected by the recent Equifax data breach, you may be exploring your options as to what to do next. All three major credit reporting agencies, Equifax, TransUnion, and Experian, give you the option of placing a fraud alert or a credit freeze on your file. So, what is the difference between a fraud alert and a credit freeze?
Fraud Alert
When you activate an initial fraud alert on your report, a business must verify your identity before it issues credit, so it may try to contact you. This can make it more difficult for an identity thief to open new accounts in your name. The initial fraud alert stays on your report for 90 days and you can renew it at the end of the 90-day period. Fraud alerts are free and the credit reporting agency you call must tell the other agencies about your alert. It also allows you to order a free copy of your credit report from each of the three credit reporting agencies. Be sure the credit reporting agencies have your current contact information so they can reach you.
You can place an extended fraud alert on your credit file if you have created an Identity Theft Report. With an extended alert, you can get two free credit reports within 12 months from each of the three credit reporting agencies, and the agencies must take your name off marketing lists for pre-screened credit offers for five years, unless you request to be added back to the lists. The extended alert lasts for seven years.
Credit Freeze
A credit freeze generally stops all access to your credit report. If you wish to open a new account, apply for a job, rent an apartment, buy insurance, refinance your mortgage – any transaction requiring a credit check – you must contact the credit reporting agency to lift the freeze, either temporarily or permanently. You will get a PIN to use each time you wish to freeze or unfreeze your account. In most states, there is a fee to activate a freeze as well as to lift it – usually around $10 for each and per credit reporting agency. There also is a lead time before the freeze is lifted so you would need to arrange for it in advance or be prepared to wait a few days if you planned to apply for credit. Cost and freeze lift lead times may vary so you may wish to check your state’s law or contact the credit reporting agency in advance. In most states, a credit freeze lasts until you lift it; in a few states, it expires after seven years. Click here for the Florida Statute regarding consumer security freezes.
A credit freeze may not prevent misuse of your current accounts or other types of identity theft, such as tax refund identity theft and health insurance fraud. Also, companies with whom you do business still would have access to your credit report for some purposes.
So, fraud alert or credit freeze? It depends a lot on what you have coming up in the near future. If you’re planning to apply for a loan or mortgage, you will have to unfreeze and freeze with each application – consider the cost and time involved. If you are not planning to apply for new credit, then a credit freeze may be a good option for you.
For more information on credit fraud alerts and freezes, visit:
Place a Fraud Alert and Extended Fraud Alerts and Credit Freezes
Sources:
Federal Trade Commission – Place a Fraud Alert
Federal Trade Commission – Extended Fraud Alerts and Credit Freezes
Federal Trade Commission – Fraud Alert or Credit Freeze – Which is Right for You?
UF/IFAS Extension Hillsborough County – Equifax Security Breach: Steps to Protect Yourself
by jbreslawski | Feb 24, 2017
Nationally, America Saves Week is an annual opportunity to promote good personal savings behavior!
More locally, the University of Florida Institute of Food and Agricultural Sciences (UF/IFAS) is collaborating with America Saves in a campaign to help Floridians build wealth, not debt! The Florida Saves, (floridasaves.org) statewide initiative has been officially endorsed by Jeff Atwater chief financial officer for the state of Florida. Why? Because research shows that, too many households with an unexpected expense of just $400 could be thrown into a financial crisis! This means a clog in the sink or a broken freezer could easily send a family into debt.
During Florida Saves Week, February 27 to March 4, 2017 UF/IFAS is urging residents to pledge to set a goal and start saving! Like our Florida Saves Facebook page to keep up with the latest info.
Saving money for an emergency makes good sense. Families with money saved for an emergency are less likely to face financial stress, less likely to fall behind on their bills, and less likely to deal with subprime alternative money sources that have higher costs than conventional options.
Make a commitment to yourself and take the Florida Saves pledge to help you reach your savings and debt reduction goals. Additionally, Florida Saves will motivate you with periodic information, advice, tips and reminders sent by email or text message to help you reach your savings goal. Paying yourself first, saving your tax refund, and saving automatically are just a few ways that Florida Saves encourages you to build wealth and reduce debt.
Plus, this year Floridians who pledge to become a saver can enter to win $50 to be put toward reaching their financial goals by completing a short survey after setting a goal and signing the Florida Saves pledge.
Want to win more? Take a video or photo to share your savings story and follow the link to enter to win a national prize of $1,000 in theAmerica Saves http://www.americasavesweek.org/imsavingfor/ contest.
Take the pledge at floridasaves.org Set a goal and make a plan!
by Heidi Copeland | Jan 23, 2017
In the early 70’s Gary Iskowitz, was doing graduate work as well as teaching tax law while working for the Internal Revenue Service (IRS) agency. Mr. Iskowitz saw a growing problem with questionable tax preparers who were scamming low-income people in his area. He did not like what he saw! Consequently, he proposed that he train a minimal number (10) of likeminded student volunteers to go into the community to prepare free tax returns for underserved residents. People lined up around the block waiting for them.
The following year, almost 100 students were recruited and trained to prepare free tax returns for low-income residents. The rest, they say, is history!
This college-volunteer effort significantly strengthened the Volunteer Income Tax Assistance (VITA) program. Now, more than 40 years later, VITA is still going strong.
VITA is still designed to promote and support free tax preparation service for the underserved, in both urban and non-urban locations. Service is targeted to low-to-moderate income individuals, persons with disabilities, the elderly, and limited English speaking.
Why? Just as in Gary Iskowitz’ time, this program is an effort to provide both a valuable community service and a powerful learning experience for the participants. Not only does a tax payer get their taxes done for free, the local community benefits from the monies spent by the tax payer. Plus, the IRS is pleased because citizens are in compliance with federal law.
Volunteers come from the local communities they serve.
If you plan to take advantage of any of the VITA programs this year, be sure to bring the proper documentation. A return cannot be prepared without the appropriate certification.
And know that in an effort to stop fraudulent tax return payments, beginning in 2017, if you claim the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) on your tax return, the IRS must hold your refund until at least February 15 — even the portion not associated with EITC or ACTC.
What to Bring to Your Local VITA Site:
- Proof of identification (photo ID)
- Social Security cards for you, your spouse and dependents on the tax return or a Social Security number verification letter issued by the Social Security Administration
- An Individual Taxpayer Identification Number (ITIN) assignment letter may be substituted for you, your spouse and your dependents if you do not have a Social Security number
- Proof of foreign status, if applying for an ITIN
- Birth dates for you, your spouse and dependents on the tax return
- Wage and earning statements (Form W-2, W-2G, 1099-R,1099-Misc) from all employers
- Interest and dividend statements from banks (Forms 1099)
- A copy of last year’s federal and state returns, if available
- Proof of bank account routing and account numbers for direct deposit such as a blank check
- To file taxes electronically on a married-filing-joint tax return, both spouses must be present to sign the required forms
- Total paid for daycare provider and the daycare provider’s tax identifying number such as their Social Security number or business Employer Identification Number
- Forms 1095-A, B or C, Affordable Health Care Statements
Start 2017 off right! Being well-organized and getting your information together can save you a lot of time and maybe even money!
by Melanie Taylor | Dec 5, 2016
As the holiday season quickly approaches many people become overwhelmed with all of the activities, decorating, and shopping that needs to be completed. Here are a few tips to save energy, time and your nerves.
Let’s begin with 5 Steps to Seasonal Savings:
- Recognize Your Seasonal Stressors: Know your personal stressors—such as family, friends, work, travel, social outings and traditions (both old and new)—then you can be less stressed this holiday season. Marketing ploys sneak into every stressor, and retailers want to ensure they get their piece of the holiday pie by using marketing gimmicks to lure you into shopping with them. Do you find yourself with the overwhelming desire to get everything on your child’s list? If so, consider going without a list or setting limits, and communicate with your child. Often, parents do not involve their children in the holiday spending process. Children need help recognizing when and how they have been targeted and persuaded to want the latest and greatest item. Children also need to understand that a budget is necessary and saying “no” to an overpriced item is okay.
- Develop a Holiday Spending Plan—Make a Budget: Ask yourself: How much have I saved? How much can I save before the holidays? Am I comfortable creating debt? Am I comfortable saying “no”?Start with knowing how much you can spend and create a spending plan, which is critical for successful money management for the holidays and all year long. A few dollars from your paycheck each week adds up quickly over a year. You can also take advantage of weekly automatic transfers into your bank account, or join a holiday savings club at a local credit union. If your holiday budget shows you are spending more money than you have, then you’ll likely take on debt. If this is the case, you should also create a plan for paying off purchases made with credit. Prioritize your purchases and consider omitting purchases that require taking on debt.
- Develop a Holiday Spending Plan—Create a List and Stick to It: Make sure you have a list of everyone you plan to buy for during the holidays and of other additional expenses. Decorations, cards, postage, gift wrap, food/entertainment, and travel are additional costs that can drastically impact the holiday budget. Don’t forget to use catalogs, internet surfing for comparison shopping, and barcode scanning apps. Shopping online also limits impulse purchases, and it allows you to avoid long lines, huge crowds, and the lure to eat out while shopping. Be sure to use coupons whenever possible, and be sure to take advantage of the year-end sales. Once you’ve researched and set your budget, you’re ready to start shopping.
- Alternatives to Pricey Presents: If you have a large family, start by thinking outside the box. Consider a gift exchange by drawing names from a hat, which can allow you to put more thought than money into selecting a single gift. You can also buy a single gift for an entire family—perhaps an entertainment basket filled with DVDs and microwave popcorn. Oftentimes, thoughtful and more creative gifts can come from shopping with local businesses. Locally grown fruits and vegetables, honey, or an item from a local artist are just a few suggestions of local products. If you are feeling crafty, then you could make and give holiday arrangements such as centerpieces and decorations. Another idea for the holidays is to donate to a charity in someone’s name instead of gift giving. You can even take the idea of giving to charity to your office. Pool money you would have spent on gifts with your participating colleagues, draw a colleague’s name, and donate the money to a charity of his or her choice. Another gift idea for close friends and/or family is the “gift of time.” Create a coupon book or certificate that gives a loved one the gift of your time (a specific chore, a trip to the park, babysitting, slumber party for the kids).
- Fine-Tuning Your Financials: Use cash and/or debit cards when at all possible. Money coming directly out of your pocket will likely make you think harder about your purchase. If you are going to use a credit card, make sure you have a plan in place to pay it off when the bill is due. You also need to understand the allure of paying with credit. When you’re not paying with “real” money, your buying can easily get out of control, and the shopping process may not seem as painful in that moment. It may be appropriate to tell your older children how much they each have in the budget for holiday spending. When the family is on the same page, it can alleviate some stress. Refocus your family’s thoughts from the material goods to the real meaning of giving and receiving. Knowing your specific situation, making informed decisions, and communicating with loved ones can reduce the effects of holiday stressors.
Let’s take a look at some affordable and DIY Christmas gifts that will be truly appreciated by the recipient.
For the gardener in your life:
Terrarium Kit
Materials:
- One – 3 1/2″ x 7″ canning jar with top
- Small stones (enough to fill 1 inch in jar) You can buy pretty river rocks at your local garden shop or just collect some stones outside.
- A few tablespoons of activated charcoal (found at any pet store’s aquarium section)
- 1 small Ziploc bag
- 3 1/2″ x 5 1/4″ printed terrarium instructions card on card stock (download from witandwhistle.com or create your own)Step 2: Slide an instruction card into the front of the jar. Secure the card amongst the rocks. Step 4: If you’re feeling crafty you could add a decoration or two (plastic or clay mini mushrooms, insects, gnomes, fairies, etc.) in your terrarium kit.
- Step 5: Tie some twine or ribbon around the jar, and you’re done. You don’t even need to wrap it!
- Step 3: Pour a few tablespoons of activated charcoal into a small Ziploc bag and add it to the jar.
- Step 1: Put about an inch of small stones in the bottom of a jar.
For the spa lover in your life:
Basic Silk Bath Bomb
Materials:
- 1 cup Citric Acid (found in canning section of grocery store)
- 3 cups Baking Soda
- 1 teaspoon Essential Oil (purchase at local health food store)
- Witch Hazel Spritz (purchase in pharmacy section)
- Dry Pigment Colorant – if using
- Round mold to shape the bath bomb (Molds are round plastic ornaments found at your local craft store.)
- Directions:
- Blend the citric acid and baking soda—add colorant and fragrance oil.
- Spritz, Witch Hazel onto your batch using a squirt bottle with one hand while stirring with the other until the bomb sticks together when squished. (it will have the consistency of wet sand)
- Form the bomb in the molds.
- Air-dry for 3 or 4 hours spritzing a few times – allow to set overnight (The Witch Hazel forms a crust on the outside that prevents them from cracking and falling apart; however, they’re still fragile)
- Wrap in tissue paper or cellophane. Tie a bow and you’re done.
Other DIY ideas…homemade soaps, herb infused oils, jams and jellies, baked goods, hot cocoa mix, etc.
When we think of the holidays, we often think about family, togetherness, giving, and celebrating. While the holiday season should be a time of enjoyment, there are many events associated with the season that can cause stress. Remember, in the long run the memories will be of time spent together, not the gifts they received. So, be sure to plan ahead, take a deep breath, and enjoy the special holiday moments.
If you have further questions, please contact your local UF/IFAS Extension Office.
Resources:
“Five Steps to Seasonal Savings” – UF/IFAS EDIS Publication #FCS5267
“Managing Stress During the Holidays” – UF/IFAS EDIS Publication #FCS5266
witandwhistle.com
by Marjorie Moore | Nov 25, 2016
I don’t know about you but to me it seems we just finished shopping for the holidays and they are here once again. Holiday shopping can be a whirlwind and we forget to take time to stop and think about how much we have spent until the bills arrive. Having a budget for the holidays can be your best defense to not overdoing it this holiday season.
If you plan for the holidays, it can save lots of time, energy, and of course, money. It is important to prepare a budget, make the budget realistic and base it on your cash flow and financial obligations. Once your budget has been created, stick to it!
The next step – make a list of gifts you want to give. When shopping, use cash whenever you can as this helps you watch how much you are spending. When you have reached your budget limit, your shopping should be done! If possible, do not use credit cards to buy gifts. If you use credit cards, keep track of the amounts and stop when you have reached your budget limit.
Gift cards appear to be great but be aware of fees or usage terms that can reduce the value of the gift. Before buying gift cards, ask if the card can be used for online purchases. This may not affect most retailers but some online retailers do not allow using gift cards.
If you want to stretch your budget, you don’t have to purchase all of your gifts. Try making gifts such as food or give a coupon book volunteering your services (i.e. babysitting or yard work). Below is a mix ranch dressing recipe you can give to family and friends this holiday season.
To help with your shopping next year make your list early, then spread your shopping throughout the year.
Use these tips to help you enjoy your holiday.
Spoonful Mix for Ranch Dressing
2 tsp. dried parsley flakes
1 tsp. salt free herb seasoning blend
½ tsp. garlic powder
¼ tsp. dried basil leaves
- Mix all ingredients in small bowl.
- Place mix in to plastic wrap and attach to spoon.
- Decorate spoon with a pretty bow.
Ranch Dressing
Remove decorative wrappings from spoon, leaving the mix inside the plastic wrap and still attached to spoon.
- Empty ½ cup low-fat mayonnaise and ½ cup low-fat buttermilk into a medium bowl.
- Hold spoon over bowl and cut open bag of mix, allowing mix to fall into bowl onto mayo and buttermilk.
- Mix until very well blended (use gift spoon to mix). Refrigerate 30 minutes up to 8 hours to blend flavors.
For more information on holiday shopping, contact your local Extension office.
by Marie Arick | Nov 17, 2016

The holidays are fast approaching! Pause long enough to avoid the pitfalls of overspending. Budgets are always tight during holidays. Gifts are not about the cost, rather they are a display of the true relationship of the people involved.
Gift giving at its finest is a true art form. I have a dear friend who really captures the essence of each person with each gift she gives. Gifting is a statement that demonstrates how important the receiver is and how they are perceived in the giver’s eyes.
Always consider the occasion and the relationship with the receiver. It is also important to know the receiver’s culture as to be certain not to offend. A gift given as an afterthought usually displays just that – it was not originally intended to be given. This is not generally the intention of the giver but can give this impression. Additionally, if you intend to re-gift an item, be certain the item meets the personality of the receiver. Re-gifted items tend to be unusual or offbeat, so think hard before taking this path.
Consider practical, useful gifts that match the person you are shopping for. The idea of gifting a need, a want, a clothing item, and a literature item to a person has been one of the most recent trends. Very few people buy that many gifts for those outside of their immediate family. But, this could be applied to others by just taking one of the options. If they are a reader, consider a gift card to a local bookstore instead of a specific title. This provides the option of an e-book or print version. Or, clothing could come in the form of a nice scarf or other accessory that is a part of their usual style.
A gift is a statement of caring. For each person, this is different. Take the time to consider personality, hobbies, interests, and activities. Choose a gift that matches one or more of these considerations. This lends to the true purpose of gifting – to show the receiver how much they mean to you.