Planet College cautions care in every aspect of your student life. Care with your health, care with your grades, care with your friends and care with your finances. The previous post talks about your credit files. They contain information about your finances, credit history, and Planet College has briefly explained how you can stay current with your files.
This post is about your personal information. There is a lot of it. Your age, your height, your weight, your address, your e-mail, your school status, marital status and so forth. Most of this is generally available to almost anyone and some companies use this information to 'market', that is to try to sell you stuff. These efforts are legitimate and can afford a student worthwhile opportunities, those choices being up to you, the student.
This information is gathered by companies and frequently sold to other companies. Thus this information is a commodity. It is sold by companies which operate for a profit. Again, this activity is long established and provided these companies operate within existing regulations and guidelines, the have the right to function as they do.
There is a category of information which is personal and should be carefully guarded. That information is your Social Security number, your Driver's license number and your credit card and bank account numbers. These are very, very valuable and should be carefully guarded by you. At times it is necessary to provide this information, to your school for one thing. To law enforcement, they will invariably ask for your driver's license number, for another. Your bank or financial institution may request such information for purposes of identification. These institutions are just about the common extent of places who need this information.
With one exception, employers, not potential employers, not POTENTIAL employers, NOT POTENTIAL employers, no, no, no, NOT POTENTIAL EMPLOYERS. Only after you have been officially hired should you provide essential personal information to an employer.
This can be very tricky because some job applications have a space for Social Security number. Any legitimate potential employer will either tell you not to fill that in or say,"Don't fill that in yet." While the regulations and customs vary from place to place and industry to industry mostly employers can not ask for this type of personal information. If you are filling out an application in person a polite inquiry to the interviewing person i.e. "Am I supposed to fill this out?" will usually result in a negative reply.
That is in person.
On line it is a whole different deal. Since now you have probably filled out many many forms and applications on line you are probably used to providing a great deal of personal information on on line forms. The purpose of this post is to strongly suggest that if you do not know the source of the application you are completing do not provide sensitive personal information. No matter how good the deal sounds, or the job, don't send these basics, SS number, driver's license number and even your student ID number or you personal bank account numbers or credit card numbers blindly. That is don't send them to some place you can't see or can't find. Also if the only address you can locate is an e-mail address don't do it.
Your personal information is very very valuable, use care with it.
Tuesday, September 25, 2012
Friday, September 21, 2012
Credit Check
Building credit is one of the many, many steps to adult life which can loom prominently for a Student. However you are taking care of your finances or WHOMEVER is taking care of your finances it is important, very important for every student on Planet College to be aware that they are building a credit file. At least it is very likely that this is happening.
Two things come to mind which can be useful.
First, on your campus this term there may well be a student finance seminar. This is the type of gathering, often held in the student center and usually put on by a bank or other financial institution which presents essential finance information for students. Often these types of meetings. if they are sponsored, will include a pitch for the Student Services of the sponsoring institution. Whether you choose to use these services or not frequently these presentations provide useful basic information and your finances, your money and quite possibly your credit. Planet College recommends you look into any such gatherings on your campus this term. There should be no obligation and the information might help you manage your finances more effectively.
Secondly it might be time now for you to start checking the condition of your personal credit file. That is the record of your credit use which is usually maintained by at least one of three main credit bureaus, as they are known. These are Experian, TransUnion and Equifax. These businesses provide a service to consumers, that is customers who buy things on credit, and to businesses such as banks, credit unions and retail stores. The service they provide is storing and cataloguing the record of credit and payments and making these records available to their client businesses. There records are also available to consumers, the people whose files are being kept. Various regulations govern the operation of these companies. One such set of regulations requires that they make available to each customer one free copy of the report they are maintaining on that customer per year. Each company has a separate procedure for the consumer, you in this case, to obtain this annual free copy and their websites contain the directions for this procedure.
If you have not done this, that is gotten a copy of your credit report, a free copy, now is a good time to start. As explained these free reports are available annually and it is a very good idea for you to stay on top of each companies report. First of all you want to make sure the information they contain is accurate. This is essential and alone is a good reason to get your free copy from each bureau. Also you will likely wish to keep copies for yourself for a while. These records will provide an at-a-glance chart of you growing financial competence.
Your free credit report, very useful, look into it soon.
Planet College Note. Planet College does not endorse any business, third party or website which offers to do this for you. i.e. Obtain Your Credit Reports Free! We'll Do It For You. As you'll see when you search for 'free credit report' a number of such offers will come up. Planet College has no information about the operation or character of such businesses . They may be, at least on their own terms, legitimate, offering this service for 'busy' students or just 'busy' people in general. Yes, you are busy. And part of the busyness is taking care in every aspect of your real life, finances in particular, because they are essential and you will be dealing with finances for the rest of your life. So, Planet College urges 'busy' you to add one more thing to your To Do list. OK, three more things. Learn the procedures and get these reports on your own. (It's OK to ask a friend for help.)
Two things come to mind which can be useful.
First, on your campus this term there may well be a student finance seminar. This is the type of gathering, often held in the student center and usually put on by a bank or other financial institution which presents essential finance information for students. Often these types of meetings. if they are sponsored, will include a pitch for the Student Services of the sponsoring institution. Whether you choose to use these services or not frequently these presentations provide useful basic information and your finances, your money and quite possibly your credit. Planet College recommends you look into any such gatherings on your campus this term. There should be no obligation and the information might help you manage your finances more effectively.
Secondly it might be time now for you to start checking the condition of your personal credit file. That is the record of your credit use which is usually maintained by at least one of three main credit bureaus, as they are known. These are Experian, TransUnion and Equifax. These businesses provide a service to consumers, that is customers who buy things on credit, and to businesses such as banks, credit unions and retail stores. The service they provide is storing and cataloguing the record of credit and payments and making these records available to their client businesses. There records are also available to consumers, the people whose files are being kept. Various regulations govern the operation of these companies. One such set of regulations requires that they make available to each customer one free copy of the report they are maintaining on that customer per year. Each company has a separate procedure for the consumer, you in this case, to obtain this annual free copy and their websites contain the directions for this procedure.
If you have not done this, that is gotten a copy of your credit report, a free copy, now is a good time to start. As explained these free reports are available annually and it is a very good idea for you to stay on top of each companies report. First of all you want to make sure the information they contain is accurate. This is essential and alone is a good reason to get your free copy from each bureau. Also you will likely wish to keep copies for yourself for a while. These records will provide an at-a-glance chart of you growing financial competence.
Your free credit report, very useful, look into it soon.
Planet College Note. Planet College does not endorse any business, third party or website which offers to do this for you. i.e. Obtain Your Credit Reports Free! We'll Do It For You. As you'll see when you search for 'free credit report' a number of such offers will come up. Planet College has no information about the operation or character of such businesses . They may be, at least on their own terms, legitimate, offering this service for 'busy' students or just 'busy' people in general. Yes, you are busy. And part of the busyness is taking care in every aspect of your real life, finances in particular, because they are essential and you will be dealing with finances for the rest of your life. So, Planet College urges 'busy' you to add one more thing to your To Do list. OK, three more things. Learn the procedures and get these reports on your own. (It's OK to ask a friend for help.)
Friday, September 14, 2012
Do You Want A Receipt? Yes. Always.
David is a graduate student in a writing program at a large state university in the largest city on the East Coast of the USA. A year ago he was looking for a place and found a Roommate Wanted sign at the laundromat near campus. Dave called the number, talked to "Len" the guy who was looking for the roommate and they agreed to meet. Dave met Len at the place. It was small and the rent was kind of high but that is typical of the area which is close to several major universities. The place was close to campus and Len seemed friendly and easy going. Dave noticed Len was a little older than the average student roommate type but Dave was only looking for a room not a party buddy. Because of the location and because Dave needed a place quick he said yes. Len said he wanted Dave's share in cash and Dave agreed, paid up and moved in.
The term began and as it went on Dave was pretty well consumed with his program and his duties as a TA. Len came and went at irregular hours often arriving back pretty wasted. Dave's conversations with Len were few but when they did talk Len described himself as the son of a couple prominent in entertainment on the West Coast. When Dave mentioned his writing program Len promised to forward anything Dave came up with to "people in development on the coast." Dave, while intrigued, shrugged off the offer as a kind of after hours barroom boasting.
Dave continued to pay his share in cash on the first of the month until one day in the middle of November an irate older woman showed up at the door. She demanded to talk to Len. Dave said he had not been home for a while but he could give him a message. The woman then stated she was the owner, had not seen Dave in months and had not received any rent since September. Dave explained he had paid his share in cash and had no idea that Len was not paying the rent as agreed.
The owner was not satisfied and demanded all of the back due rent. Dave had very little cash and as a result he had to vacate. He moved in with friends, slept on their couch until he end of the term. Spring semester, with a little help from his folks, Dave moved back to campus.
Real basic lesson which cannot be emphasized enough here on Planet College. Always, always, ALWAYS, get a receipt. Always get a receipt.
With a receipt Dave may have had a chance to remain in the place at least until the end of the month. With nothing Dave had no chance.
Once again, as always, Planet College emphasizes the value of a paper record of any significant transaction in which you engage. This especially applies to rent. No matter what the circumstances, always, especially if you are paying cash, always get a receipt.
The term began and as it went on Dave was pretty well consumed with his program and his duties as a TA. Len came and went at irregular hours often arriving back pretty wasted. Dave's conversations with Len were few but when they did talk Len described himself as the son of a couple prominent in entertainment on the West Coast. When Dave mentioned his writing program Len promised to forward anything Dave came up with to "people in development on the coast." Dave, while intrigued, shrugged off the offer as a kind of after hours barroom boasting.
Dave continued to pay his share in cash on the first of the month until one day in the middle of November an irate older woman showed up at the door. She demanded to talk to Len. Dave said he had not been home for a while but he could give him a message. The woman then stated she was the owner, had not seen Dave in months and had not received any rent since September. Dave explained he had paid his share in cash and had no idea that Len was not paying the rent as agreed.
The owner was not satisfied and demanded all of the back due rent. Dave had very little cash and as a result he had to vacate. He moved in with friends, slept on their couch until he end of the term. Spring semester, with a little help from his folks, Dave moved back to campus.
Real basic lesson which cannot be emphasized enough here on Planet College. Always, always, ALWAYS, get a receipt. Always get a receipt.
With a receipt Dave may have had a chance to remain in the place at least until the end of the month. With nothing Dave had no chance.
Once again, as always, Planet College emphasizes the value of a paper record of any significant transaction in which you engage. This especially applies to rent. No matter what the circumstances, always, especially if you are paying cash, always get a receipt.
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