Perhaps you’re among the hundreds of thousands who have recently been laid off. Or maybe you’re still employed but wondering how to proceed if you do lose your job. Here are some useful tips for helping you conduct your job search effectively:

 

Get going! You may be tempted to take some time off before beginning your search, but that’s unwise. The sooner you roll up your sleeves and get to it, the sooner you’ll be off the unemployment rolls.

 

Make your search a full-time pursuit. Finding suitable employment can—and should—be a full-time job in itself. Plan to spend at least a full 40 hours a week engaged in job-hunting activities.

 

Cut unnecessary spending to the bone. Assume that it may take several months to land that new job. In the meantime, you’ll probably need to hunker down and reserve your spending for essentials.

 

Request a letter of recommendation from your former supervisor. Make sure potential employers know that your termination had nothing to do with your job performance.

 

Make use of free resources. Could that resume use some polishing? Are your interviewing skills a little rusty? You’ll find plenty of useful information on the Internet and at your local library.

 

Don’t restrict your search to want ads. There’s no harm in answering them, but don’t expect much to come of it. Remember, you’re competing with hundreds, or even thousands, of other applicants. What’s more, most job openings are never advertised. So be creative. Arrange informational interviews; make cold calls … and network, network, network!

 

Implement a networking strategy. Spread the word far and wide that you’re in the market. Make a list of people you’ve recently worked with, including co-workers, key department contacts, customers, and vendors. Get their permission to use them as references and potential job leads. Regularly attend job fairs and workshops. If your college or professional organization offers a “jobs wanted” or “jobs offered” service, sign up for it.

 

Strengthen your skill set. Whether you’re relatively new to the world of work or a grizzled veteran, it’s always a good idea to broaden the range of skills on your resume. Look into free training programs offered by state and private employment agencies.

 

Let your light shine. When you do land an interview, don’t be shy. Remember, the product you’re selling is you. Try to project enthusiasm, self-confidence, and competence (but, of course, don’t come across as arrogant).

 

Don’t give up. Unfortunately, job hunting is mostly about rejection. Don’t take it personally—just keep plugging! Remember, it’s also a numbers game: The more employers you contact, the greater your chances of finding the right job. It may take a while, but you will find that job.

 

More than 40% of a bank’s revenue comes from fees. Taking advantage of the services a bank offers while avoiding the fees is a win-win for the consumer.

 

Opening an Account

 

The checking account is still the most basic bank service available. There are free accounts with no minimum balance, NOW accounts that pay interest by maintaining a minimum balance and money-market accounts that offer higher interest, but require a larger balance and limit the number of checks you can write. Ask for detailed information about each, including all monthly fees and penalties before deciding which is best.

 

Once you’ve opened your account, avoid overdrafts. The fee for non-sufficient fund (NSF) checks has risen to an average of $30 and usually the largest check is honored first, leaving less money to cover smaller checks. As a result, you could end up paying an NSF fee for every smaller check you’ve written, as well as the fee charged by each business that was shorted! Also, be aware that certain deposits, such as deposits made at a remote ATM, may take up to 10 business days to become available.

 

Many institutions offer a Bounced-check Protection Service, which covers you up to a certain amount. But until you pay what is owed, you’ll end up paying the bank’s NSF fee PLUS daily fees until you’ve made amends. Another option is Standard Overdraft Protection where the bank will draw on your savings account, credit card, or line of credit for a small fee to cover bad checks.

 

Debit or Credit

 

You’ll receive a debit card with your new account allowing you to access cash at ATMs or to make purchases. However, if you use your card at an ATM owned by another bank, you’ll pay a fee as high as $3, and your bank will also charge a fee. Being charged $6 to withdraw $20 doesn’t make sense. Avoid this trap.

Many institutions also charge a fee when you make a purchase with your debit card. When the cashier asks “Debit or credit?” choose the credit option and avoid the fee. Additionally, if you use your debit card at a gas station that does not require a PIN, your bank will regularly “block out” an amount greater than your actual purchase for up to 72 hours. Be aware of this practice to avoid overdrawing your account.

 

Savings

 

Banks offer basic, low-interest savings accounts and higher-interest money-market accounts. Money-market funds, available through mutual fund companies, generally pay a higher yield and don’t have an early-withdrawal provision. Certificates of deposit (CD) mature and pay interest in 30 days, although the longer the term, the higher the interest rate. A penalty is charged for early withdrawal, so make sure you won’t need the money. And again, shop around for the best deals.

 

Convenience

 

Today, you can have your paycheck direct deposited, use online banking to review your records, or choose automatic payment for bills that don’t vary from month to month such as a mortgage or car loan. In the end, it only makes sense to take advantage of your bank’s service offerings—especially if it simplifies your banking needs.

With no fees for transactions, no debt added to high-interest credit cards, “zero liability” fraud protection and new rewards programs, the debit card (a.k.a. the check card) is proving to be a grand slam for consumers.

 

Convenience and Security

 

According to the Federal Reserve, debit cards, which draw money directly from your checking account, have been used to make more purchases than credit cards since 2003.

 

The popularity is attributable to improved money management, convenience and security. With the high interest rates and late fees charged by the credit card companies, consumers see debit cards as a way to budget their money more effectively. For example, one doesn’t have to carry cash or have exact change any longer, and because all transactions are on your bank statement, it simplifies your record keeping.

 

Rewards Still Count

 

Though not as robust as credit card rewards, debit card reward programs are still good enough for those who use debit as an alternative to credit cards, cash or checks. With most debit cards, however, points are earned only on signature purchases and aren’t earned on all transactions, including ATM withdrawals, balance transfers or payments made to prepaid or reloadable cards.

 

The rewards and point systems vary from bank to bank. So as always, do your homework and compare one bank’s card to another – choosing the best solution to meet your personal needs.

 

Equal Protection

 

Another feature that has been added to debit cards is fraud and loss protection. Most debit cards now have the same fraud and loss protections as credit cards. The Fair Credit Billing Act and the Electronic Funds Transfer Act (both acts can be found under DMB’s Helpful Links page on the web) provide procedures for consumers to follow if a credit or debit card is lost or stolen.

 

The Electronic Funds act, which covers debit cards, states that your liability is dependent upon how quickly you report the loss or theft. For example, if you report the theft within two business days, you are liable for only $50 in unauthorized use. If you don’t report the loss in two business days, according to the Federal Trade Commission, you could lose up to $500 because of an unauthorized transfer. You also risk unlimited loss if you fail to report an unauthorized transfer within 60 days after your bank statement containing the unauthorized use is mailed to you. Moreover, take note that it may take time to restore the funds in question into your account.

 

The Future of Debt Cards

 

While debit cards offer much in the way of convenience and protection against fraud and loss, they don’t appeal to everyone. Consumers who always pay their credit card balances in full will find that a rebate credit card is far more attractive than a debit card due to the higher rewards and additional float time on their money.

 

Nevertheless, it is anticipated that the use of debit cards will continue to proliferate as consumers find them effective in managing their money while avoiding the pitfalls that credit cards present.

DMB Financial, LLC discovered last week that letters have been mailed out to consumers across the country from DMB Financial Management regarding the consumers’ winnings in the “NBC International Sweepstake”.  These letters are not from DMB Financial, and are in fact fraudulent and a scam.

 

Here is how the scam works.  Included with the letter is a check for $3,115.00 in the name of the consumer.  The letter directs the consumer to contact a telephone number so that the company can educate the consumer on how to claim their winnings.  When the consumer contacts the company, a representative from the company asks the consumer to deposit the check into the consumer’s bank account to cover the processing fees.  The representative then asks the consumer to send the company $3,115.00 either through a wire or Western Union for the processing fees.  The check then bounces leaving the consumer out the $3,115.00.

 

If you have received a letter from “DMB Financial Management, LLC” with our address on it (“152 Conant Street, Beverly, MA 01915”), do not call the company or deposit the check and please contact us immediately with the details.  DMB has contacted the local and federal authorities to help us stop this scam immediately.

 

If you have any questions or suspect you have been a victim of this fraud, please contact Matthew Guthrie by e-mail (mguthrie@dmbfinance.com), or by phone at 866-810-3210.

 

We apologize for any inconvenience and appreciate everyone’s help in stopping this scam.

• Sample of Fraudulent Mail Piece: Click here

 

—

—

Unfortunately, there are some people in this world who are skilled in the art of fraud. Their modus operandi is to obtain credit in your name, make costly purchases, then charge your account. And when your next credit card invoice arrives, you’ll be in for a very unpleasant surprise.

Fortunately, there are ways you can fight back and avoid credit fraud:

Fraud Alerts

If a fraudster tries to get credit in your name, he or she can be stymied if you’ve added a fraud alert to your credit report. The creditor, in checking your credit, will find a statement that says something like, “I may be a victim of fraud. Call me at [your phone number] before extending credit.”

There are two kinds of fraud alerts, both free:

90-Day Alert: Maybe you suspect, but aren’t sure, that you might have been the victim of an identity (ID) theft. Ask one of the three major credit bureaus to contact you whenever you apply, or someone claiming to be you applies, for a credit purchase within 90 days.

The credit bureaus are:

Equifax: Phone 1 (800) 685-1111. Web: www.equifax.com

Experian: Phone 1 (800) 888-397-3742. Web: www.experian.com

Trans-Union: Phone 1 (800) 888-4213. Web: www.transunion.com

7-Year Alert: You should also consider this other, less common alert – which remains active for seven years – when you must prove to the credit bureaus that you’ve definitely been a victim of ID theft. With this alert, you will be asked to provide documentation from your credit card companies or other financial institutions.

Credit Freeze

A credit freeze (also called a fraud freeze or security freeze) offers more protection than a fraud alert. Once it goes into effect, potential creditors or insurance companies can’t access your credit information until you give permission to unfreeze it. Should they contact you to request an unfreeze, you’ll know if someone is trying to steal your identity.

This service is available in all fifty states and Puerto Rico. If you’ve been an ID theft victim, you can list your account without charge in most states; if you haven’t, the credit bureau will assess a small charge to set up the freeze and then unfreeze it later. For more information, visit www.consumersunion.org.

Fraud alerts and credit freezes can’t guarantee total protection, because some creditors unwisely issue credit without checking a credit report. But most financial institutions routinely use credit checking to protect themselves. And by protecting themselves, they’re protecting you.

Your feedback helps us improve the service we deliver. If you have any questions or comments, please don’t hesitate to email us at help@dmbfinancial.com

 

To go to the home page, click here

To go to the blog, click here

 

 

Top Ten Reasons to do business with DMB Financial, LLC

 

1. We offer the safest option in debt settlement.
2. We are an Accredited Member of TASC, (The Association of Settlement Companies).
3. We are a performance-based business and work to negotiate the BEST settlements with your creditors.
4. The Founders of DMB Financial have over 50 years of combined experience in the debt industry.
5. DMB Financial is a for-profit, private company and is not affiliated with the credit bureaus or the credit industry.
6. Since our inception in 2003 we have managed over $150 million of debt for more than 11,000 clients.
7. When you join DMB Financial, you have a team of people working in your best interest.
8. We work around the clock to attempt to lower your monthly payments and set you up with one easy monthly payment on the date that is best for you.
9. DMB Financial is dedicated to going green and a portion of our proceeds goes towards (Green Energy, ending Global Warming).
10. Debt consolidation generally doesn’t work. Bankruptcy may ruin your credit for up to 10 years. Only debt settlement offers peace of mind and a fresh start. And that’s priceless.

 

—-