As we continue to share information about National Cyber Security Awareness Month, Dakota West wants to make sure our members are recognizing ways to help prevent identity theft, such as implementing a three-layer security to our online and mobile account access.
Our partners at Kasasa want to share tips on how to help prevent identity theft. While it may make sense to think avoiding the use of the Internet would reduce identity theft, there are still a variety of ways information can be compromised. More importantly, accessing your accounts online on a regular basis is more likely to help you notice when a transaction occurs that you did not authorize. The first line of defense for many users is having a frequent and regular review of your accounts, which is much easier to do using an online or mobile platform.
Reviewing your credit on a regular basis also helps you be aware of lines of credit that may be drawn in your name. This scam can also happen to other family members, such as young children or seniors. Helping our family members be aware of their personal finances by requesting a free annual credit report is another way to maintain control of you and your family’s personal finances.
Ethan Kobos, who is currently studying Cyber Security at the University of North Dakota recently shared with us one of the easiest/most common ways individuals can protect themselves from identity theft.
“By changing your password just once or twice a year, it can greatly reduce the chance that someone could acquire it. This does not mean to add a number on the end and start counting, create a full password from scratch. There are softwares that manage all your passwords and will create something that is hard to break, but you will not be able to remember easily.” If you don’t know where to begin looking for password software, Kobos suggests applications such as LastPass.com.
Learn more about National Cyber Security Awareness Month and how to protect your family’s finances at the National Cyber Security Awareness website, or reach out to Dakota West to find out how we are providing additional security for your debit and credit cards or how we are securing your online identity. Be sure to access your online accounts on a regular basis to maintain an active involvement in your personal finances and spending. We want to make sure you have the tools you need to be safe and secure online.
Celebrating Retirement
It’s National Retirement Security Week. What are you doing to celebrate?
You may think retirement is too far off to celebrate, or perhaps even too far away to think about, but this week is to bring attention to the fact that saving for the future should already be a part of your here and now. At Dakota West, we have options available to making your later-in-life security a priority, even if you’re still decades away from your actual retirement plans.
When we are just starting out as adults, our budgets may not offer the flexibility of a large contribution to our futures, but every little bit adds to your long-term goals, but only if you make it a priority. As our partners at Kasasa® suggest, the best way to start working towards your retirement goal is to start early. Planning long-term helps you see the big picture, and remembering in the short-term of the importance of saving as part of your weekly or monthly budget work together to help you reach a big goal through consistent contributions over time.
As you watch your investments grow, you can celebrate your retirement, even if it is still decades away, because your contributions to your own future are the real cause for celebration. Whether you want to move your current nest egg into an IRA or certificate of deposit, or even just get started on your road to your retirement, Dakota West wants to help you Grow West for years to come.
College Finances On A Budget
Are you a college student for the first time? Maybe you’re taking classes towards a degree while working? Are you considering going back to school for an advanced degree? Managing money becomes one more responsibility that adds to the burden of work, studies, planning, and scheduling during college life. Our partners at Kasasa® offer some useful tips for college students, whether in person or online, to help keep your dollars and cents a part of your success.
Distinguishing needs from wants sounds like a simple way to manage money, but when streaming movies online while waiting at the laundromat reminds students that clean clothes may take priority over entertainment expenses. Try measuring the cost of a desired purchase in quarters – how much laundry can you get done when you choose to save rather than spend?
Take advantage of library services that may be available either in person or digitally. A library card comes with all kinds of extra services that cost a lot less than a purchase. Likewise, take the time to research services provided on campus or in the community where you live to find additional cost-effective alternatives, including entertainment.
Lastly, in a time of social distancing, those rare moments we can spend with family and friends are worth a lot more than the cost of an outing. Use your social time to connect with folks back home, or a friend at another campus. Whether Zoom, or Facetime, or just a call to Mom and Dad can rejuvenate you and provide a healthy break between classes and studying, and also keep your expenses low.
Most importantly, rest and work hard – those same voice and faces back home are here to support and encourage you. Don’t forget to stop in to your local branch and say, “Hello,” every once in a while. We’re here to help you, too.
Tips On How To Save, Even A Little At A Time
One of the ways people manage their finances during times of economic uncertainty is to focus on saving a few dollars wherever possible. We watch ads, we tighten our budgets, and we keep tucking away whatever we can into our rainy-day fund.
Our partners at Kasasa also offer a few tips to help us keep watching our nest egg grow. For example, avoid impulse purchases by waiting 24 hours to make any expensive, nonessential purchases (and if they’re online, you may receive a promo code or better pricing if you leave something sitting in a cart for a day or two).
Another simple practice is designate one day a week as a “no spend” day. Kasasa also gives you a few tips to save money at the grocery store like bringing your own music with you. And if you’ve been busy spring cleaning during the past few months, you might want to consider some tips from Kasasa for selling you stuff online.
If you have a Kasasa account, you already know one great way to earn a little extra money each month. If you’d like to pocket some extra cash, open a Kasasa Cash Back® checking account, or convert your current Dakota West checking account to take advantage of the benefits of a Kasasa account. Call us at 800.411.7590, email us at dwcu@dakotawestcu.org, or start a new membership with Dakota West and Ask for Kasasa®.
