The Trusted Scout: Military Saves Week to Focus on Finances

February 2013 l Volume III l Issue 2

IN THIS MONTH'S EDITION:

Military Saves Week to Focus on Finances

New Wave of Phishing Scams Uses Facebook Info for Personalized Spam

Picture of the Month

A U.S. soldier helps a fellow soldier onto the rooftop of an old, destroyed building to provide overwatch for another element of their patrol in Panjwa'i District, Afghanistan, Jan. 29, 2013. U.S. Army photo by Sgt. Kimberly HackbarthScam

SPONSOR SPOTLIGHT

BBB Military Line greatly appreciates support from FINRA Investor Education Foundation and SaveAndInvest.org. This support makes our efforts on behalf of military consumers possible. Thank You!

Special Thanks to Our Sponsors

SCAM ALERTS!

Phony Officials Trick Consumers into "Verifying" Info on Do Not Call Registry

Scammers have been making phone calls posing as representatives of the National Do Not Call Registry. The calls claim to provide an opportunity to sign up for the registry or ask consumers to verify their info. Of course, the callers are really trying to solicit personal information, which opens victims up to identity fraud.

Tax Time Is ID Theft Time

The Internal Revenue Service began accepting 2012 tax returns this week, sending thousands of individual taxpayers and tax professionals to their computers to fill out forms and then e-file them.

What Do You Mean There's No Credit Repair Fairy?

You are watching your favorite show on T.V. and see a commercial that peaks your interest. "Do you have credit problems?" You think, "Why yes, I do!" The commercial continues, "No problem! We can erase your bad credit history forever and you can start all over!" How convenient does that sound! Of course there is a small fee associated with this magic credit eraser. You think to yourself the fee is worth having good credit again

MILITARY CONSUMER

ISSUES & INITIATIVES

Rent or Buy: What MilFams Need to Know

You've seen the headlines: The housing market is beginning to stabilize. Home prices in some cities are increasing, and much of the U.S. housing market is in recovery.

Military Enrollment Quadruples in TSP Roth

Enrollment in the Thrift Savings Plan's fledgling Roth option spiked in December, especially among military service members. And the growing interest in the Roth option could lead to service members being automatically enrolled in TSP.

Military Saves Week to Focus on Finances

Most military families today are not saving adequately for retirement and many do not have an emergency fund.

This year, Military Saves Week is encouraging everyone to "Set a Goal, Make a Plan, Save Automatically." Military Saves provides helpful tips for successful saving, establishing credit, paying down debt, planning for retirement and much more.

Tax Time Toolkit for Military Spouses

Income tax season is upon us, and it's time to grab out your reading glasses, visor, accounting calculator, coffee (or wine), and that stack of important paperwork you meant to organize to make filing your taxes easier, but just never quite got around to. Because we totally understand how busy you are and know that you'll just end up on Facebook/Twitter/Pinterest during your search for tax time tips, we put together a list of resources that every milspouse needs during tax season.

Top Five Money Moves Can Help Put Families On a Firm Financial Track

It's still not as easy to get a new credit card as it was before the recession, but Americans have shown a willingness to use credit cards more responsibly over the past few years. As credit card delinquencies have declined and household balances have dropped, lenders have stepped up competition over consumers with strong credit scores. The first eight of this year's Editor's Choice picks single out accounts that reward your solid credit history with low fees and high rewards.
Read more

WHO WE SERVE

U.S. soldiers patrol down a mountain after visiting an Afghan border police observation point in Kunar province, Afghanistan, Jan. 28, 2013. U.S. Army photo by Sgt. Jon Heinrich

SCAM ALERTS Continued...

Consumer Alerts

The Federal Deposit Insurance Corporation (FDIC) has received numerous reports of fraudulent e-mails that have the appearance of being sent from the FDIC.

New Wave of Phishing Scams Uses Facebook Info for Personalized Spam

Check your privacy settings. Scammers are tapping into the personal data available through Facebook, Google+ and LinkedIn to pose as your friends in fraudulent emails. Watch out for these personalized scam messages and take steps to prevent them.

As a partner in the Joining Forces Initiative and DOD Financial Readiness Campaign, BBB Military Line^® brings BBB consumer education and services to military personnel (including Reservists and National Guard), retirees, DoD civilians, and their families.