Connect with us

The Daily Digm (News)

Federal Judge Grants Relief for Students Defrauded by Fake Schools + How to Protect Yourself from a Bigger Fraud Attempt

Published

on

Fraud Attempt

An Obama-era rule designed to help students cheated by for-profit colleges get relief on their education debt finally took effect Tuesday after efforts by the Trump administration to block it; specifically by Education Secretary Betsy DeVos. A federal judge has ordered that the Department of Education immediately begin to comply with the rule that grants automatic loan forgiveness to defrauded students who attended schools that were closed while they were enrolled. This is a big win for many who were bombarded with high debt due to some shady characters. These shady characters not only attack you from an institutional level but also from an individual level.

Millions around the world use mobile devices to watch movies, play games, get turn-by-turn directions, find news, read books, listen to music, bank online and much more. The portability of technology has literally placed the world in our hands.

While mobile devices are beyond convenient, some apps may pose a threat to your personal information. Although app makers promise to protect your privacy, data breaches have occurred despite their best efforts and most current protocols. While the Federal Trade Commission is doing its best to enforce developers’ privacy promises, be diligent in protecting yourself from vulnerable systems that contain significant amounts of your private information.

Here are five tips mobile apps users should consider to protect themselves and their data:

1. Guard your device.

In the wrong hands, sensitive information — including financial information and personal contacts stored on a mobile device — can cause a lot of damage. Keeping your mobile device within view in a safe and secure place will help mitigate the risk of unauthorized access. Lock your device with a password that is easy enough for you to remember but complicated enough that it can’t be guessed or easily copied. No “password” or “12345” passcodes!

2. Download apps only from trusted sources.

The easiest way to compromise your personal information is to give it away. Download apps only from trusted sources to ensure you are not aiding and abetting the theft of your information. Before you download, read the app’s privacy policy to see what information the app will store, how it will be used, and when and how they plan to securely dispose of it.

3. Turn off your Wi-Fi and Bluetooth® when not in use.

While Wi-Fi and Bluetooth are convenient ways to connect your device to other useful devices and systems, identity thieves can use your connection to access your files and information. Turning off your Wi-Fi or Bluetooth connection when you are not using it will help keep your information safe from hackers. Avoid open or public Wi-Fi connections that are unsecured. When you connect to an unsecured network, you invite others to view your private information freely.

4. Don’t store usernames or passwords.

Sometimes easy isn’t safe. While granting permission for a website you frequently visit to remember your username and password allows faster and easier access, it can also put your personal information at risk. This is especially true of financial apps or websites. If you use your mobile device to bank or shop, completely log out when you are finished. Avoid banking or shopping on your mobile device while on public Wi-Fi.

5. Monitor your credit.

When you’re familiar with how your credit normally looks, you can easily spot unusual activity and can minimize the damaging effects of identity theft when they happen. Remaining vigilant about suspicious or unauthorized activity on your credit report can help you recognize when thieves are attempting to access your information and solicit credit with your data.

Mobile devices offer unparalleled convenience on the go, but the benefits may not outweigh the costs. Proactively protecting your information can help prevent identity theft.

Ash Exantus aka Ash Cash is one of the nation’s top personal finance experts. Dubbed as the Financial Motivator, he uses a culturally responsive approach in teaching financial literacy. He is the Head of Financial Education at BankMobile and Editor-in-Chief at Paradigm Money. The views and opinions expressed are those of Ash Cash and not the views of BankMobile and/or its affiliates.

The Daily Digm (News)

Is the Job Market Booming or Are People Seeking Entrepreneurship Instead?

Published

on

Job openings in the U.S. continue to exceed the number of unemployed people, with 1 million more positions available in October than those Americans actively seeking work, per the Labor Department. The information, real estate, and education industries were seeking the most help. Until March of this year, job openings never exceeded the number of those looking for work in the 17 years since record-keeping began. This leads to the question: Is the Job Market Booming or Are People Seeking Entrepreneurship Instead?

The truth of the matter is that a 9-5 can be taxing on anyone especially those trying to raise a family.  There are a lot of people who believe that it is far better to be an entrepreneur than to work under someone, as an employee. This is mainly because of the flexibility as well as the ability to create your own schedule. Being an entrepreneur allows you to plan your work around your life’s needs, so you can have your cake and eat it.

In the past, it was much more difficult to run a business and have a good quality of life, but because of technological advances, it has become easier to manage both. And this isn’t only small local ventures; the internet has made the world a smaller place, so many entrepreneurs are running global businesses.

Women are also starting to lead the charge; they comprise of about 10.6 million women all over the world and produce 2.5 trillion dollars in sales annually! It takes a lot of patience being an entrepreneur because it is a tough job to take care of other responsibilities while running a business at the same time. You must learn how to keep your cool during stressful times and be able to put out fires simultaneously. Overall, entrepreneurship is a great option in today’s day and age but always remember… Quality of life first!

Continue Reading

The Daily Digm (News)

Amazon Battling Against Scammers + Why Do Scammers Exist in the First Place

Published

on

Amazon is battling a torrent of seller scams on its website and has sacked a handful of employees it alleges took bribes and fed inside information to independent merchants, reports The Wall Street Journal. The company has fired some workers from the U.S. and India as well as purging several thousand dubious customer reviews. It’s also curtailed seller access to internal data and worked to curb techniques allowing sellers to game the site’s search results to their benefit.

 These dishonest sellers and employees make things difficult for those who are trying to do the right thing. But why do scammers exist in the first place? The truth of the matter is that money is an important aspect of life and many believe that cheating the system is the way they know how to get ahead. Money started as a simple concept then it became complicated.

Bartering became was a system of economics for centuries. A fisherman would exchange his catch with the carpenter for a table. Cattle, clothes and other necessities were traded without cash tender. The introduction of money changed that system making it of greater influence in our lives. So, why is money so darn important?

Global Exchange. Money is important mainly because it’s a tool for global exchange. Simply put, it’s important because we have made it important. Giving up other systems to heavily depend on cash and its many forms. You may not provide a product or service needed by a person who creates a need of yours. You’d use money as a medium of exchange used to obtain wants and needs.

Time. Money in some ways buys time. The key is making money work for you by creating passive income – monies earned which a person is not actively involved. Examples of passive income are royalties from intellectual properties, rental properties, or a business you don’t have to physically operate to earn a profit. Passive income equals more time to other things you love such as traveling with family, volunteering, or working for fun (not out of necessity).

Allows You to Make a Larger Difference. More money can multiply you. Volunteering at the local Girls and Boys Club requires your presence. Being able to donate financially to multiple local Boys & Girls Clubs makes an even bigger difference. Your reach increases with the amount of money you possess.

While money isn’t the most important thing in the world, it does effect the things that are. Using your money strategically will afford you more time, expand your reach, and pay for some pretty cool experiences.  And ultimately managing our money responsibly will assure that we don’t fail. Face it we are too important!

Continue Reading

The Daily Digm (News)

NYC Introduces Minimum Wage for Drivers + How to Slowly Crawl Your Way into Wealth

Published

on

Living in a big city may not be what it’s cracked up to be.  The cost of living seems to be going up while wages are going down. Well thankfully for cab drivers they may be getting some relief. New York City is introducing a minimum pay rate for drivers working for app-based services such as Uber and Lyft. Drivers must now be paid a minimum of $27.86 per hour, or $17.22 after expenses, which city officials say translates to a yearly increase of roughly $10,000. The new pay rates, which will be implemented in 20 days, were criticized by the ride-sharing services. The changes will likely lead to fare hikes for riders, said Uber but drivers are at least happy. But what about another worker?

According to a 2017 CareerBuilder report, 78% of full-time workers said they live paycheck to paycheck. And while the cost of living continues to climb there are ways to get out of this slow crawl to wealth. Here are four tips on getting out of living paycheck to paycheck and live life more abundantly. 

Live below your means. The more we earn, the more we seem to spend. Think about it when you made less than what you make now, you survived. And then when a raise came along or some random lump sum of money like your tax refund you either made a purchase that increased your long-term expenses or wasted it on things that didn’t shift your lifestyle in a financially positive way. Start living below your means. This may look like downsizing your phone plan or apartment. Pretend you have $100 to 500 dollars less than what you make on a monthly basis.

Set Financial Goals. If your money doesn’t have an aim, it will land anywhere. When you have a financial vision, you are more likely to end up where you’d like to be. You are careful enough to put aside tax money, mortgage payments, and other necessities; take the same approach to build wealth.

Aggressively Save. Think of a number that you don’t want to go below when it comes to your savings account. Let’s say you want to have no less than 10,000 dollars in your account. Save until you get there without spending unnecessarily. Remember put aside an amount that you feel comfortable with but an amount that will also get you to your goal in a comfortable amount of time. Once you have arrived, don’t go below it.

Change your words. Words are powerful. Chances are if you’re living paycheck to paycheck, you aren’t able to do things you like. And that can cause stress and discomfort. And you may have the tendency to complain. STOP. Your words have the ability to build up and tear down. Choose to build up with money affirmations such as “I have an endless supply of cash,” “money is flowing to me,” and “I place no limits on the amount of money I can make.” (IG: @paradigmmoney). Before you know it, you’ll be financially free and loving it.

Continue Reading

Trending