A scam tied to the new "smart-chip" enabled credit and debit cards has reached the Columbia SC economy as millions of Americans await their banks to send the new cards. While the chips are designed to put an end to counterfeiting, as usual, the bad guys have other things in mind.
Crooks Target The Columbia SC Economy
Because it’s new, scammers are banking on you not knowing much about the smart-chip cards and how the banks will issue them. They’re sending out emails under the guise of your bank or financial institution requesting that you "updated their files" so they can mail you your new credit or debit card. Naturally, what they’re really trying to do is steal your personal financial information — either by you completing the emailed form or clicking a link in the email that would download malware to obtain it. It's just the latest in a series of identity theft scams to hit the Columbia SC economy.
Protect yourself as best as possible by knowing these tips:
- More likely than not, your bank will automatically send you your new card by mail. If you don’t receive it, call them and request it.
- Banks and financial institutions rarely call you on the telephone to request information of a confidential and sensitive nature about your checking, savings or loan accounts.
- Don’t click on suspicious email links. If you receive an email that asks you to do so, call your bank and verify it as soon as possible.
If you think you may have already fallen prey to this most recent identity theft scam, don’t panic. Call your bank and notify them of what happened. Report it to the local authorities, the credit bureaus and the Federal Trade Commission (FTC.) Lastly, monitor your credit report for any signs of identity theft or anything else unusual.
Columbia SC investors, like many other Americans, are still a little nervous about Wall Street and recent activity in the stock market. In a recent survey, Bankrate.com reported that the majority of its respondents feel more bullish about the real estate market than other long-term investments. Characterizing long-term investments as those with a duration of 10 years or more, the survey cited real estate as the most popular investment with 27%. Twenty-three percent of those surveyed preferred cash investments (CDs, Money Market Funds, etc.), 17% preferred the stock market. Gold, silver and other precious metals were at 14% and bonds finished at 5%.
Despite the S&P 500 enjoying a 27% increase over the past two years, in general, stocks were only slightly more popular as an investment in 2015 versus 2013.
Columbia SC Investors Participate in Survey
The survey included information submitted by 1,000 adult residents of the United States and included Columbia SC investors in the questionnaire. Surveyors gleaned results based on geographic location, age, gender, and political affiliation. Women surveyed were more likely to favor cash investments offering less risk and greater security. Men were more likely to invest in real estate.
Interestingly, college graduates largely comprised the group most likely to prefer investing in stocks. Geographically, the western states favored real estate investments by a two to one margin over other investment options.
Not surprisingly, 32% of millennials (defined as those age 18-29) cited cash as their most popular long-term investment. In addition, the same percentage — 32% — of Generation Xers (those between 30-40) favored real estate, a popular choice of Columbia SC investors.
Those earning less than $50,000 per year said they felt "more secure" in their investments, while those earning $50,000 – $74,900 weren't quite as confident in their investments. Additionally, Republican respondents were three times more likely to say they felt "less secure" about their jobs than Democratic counterparts.
The July Bankrate Financial Security Index posted a positive response for the 14th consecutive monthly period, but July was the second lowest month of the year so far. Analysts attribute the ranking in part to an overall downward slide in job security. Of those surveyed, 22% felt "more secure" about their job situation than they did just a year ago, while 14% said they feel "less secure." Sixty-two percent felt "about the same" compared to a year ago.
Stay abreast of all the news affecting Columbia SC real estate, and what Columbia SC investors are finding most attractive by continuing to follow our blog, and also remember to find us on Facebook and follow us on Twitter.
Are you one of the many people who set New Year's resolutions each year, only to find that you've strayed away from that goal by the end of January?
If you've resolved to setting a budget this year, here are three things you MUST do in order to achieve your budget goals for the year…
We have more tips and articles for you when it comes to setting a budget and coping with the Columbia SC Economy by looking at that section under the Columbia SC Real Estate Categories to your right.
And don't forget, we also post tips daily on Twitter and Facebook, sometimes pertaining to setting a budget, the Columbia SC economy, or the economy in general. Find us there as well.
As the year is winding down, some December deals are starting to heat up. But not everything is a bargain. Some things you should definitely avoid buying in December, and some things, depending on when you buy during the month, can be a real bargain…
We have more tips for you at the link to your right under Columbia SC Real Estate Categories. And don't forget, Follow us on Twitter and Like us on Facebook!
Columbia SC consumer confidence, led by high hopes for the Columbia SC housing market, has recovered from its doubts in the wake of the government shutdown last fall and is starting the new year on a tear.
Two weeks ago economists at The Conference Board forecasted that for the year as a whole growth will accelerate markedly to 2.9% in 2014 from the subdued 1.9% pace in 2013. The robust gains in household net worth, fueled by the 29% gain in equity prices and 16% rise in median home prices, boosted consumer spending to a robust 4% pace in Q4 2013. The Conference Board set a goal of 1.11 million housing starts this year, up from .92 million in 2013.
"Consumer confidence advanced in January for the second consecutive month," according to Lynn Franco, Director of Economic Indicators at The Conference Board. "Consumers' assessment of the present situation continues to improve, with both business conditions and the job market rated more favorably. Looking ahead six months, consumers expect the economy and their earnings to improve, but were somewhat mixed regarding the outlook for jobs. All in all, confidence appears to be back on track and rising expectations suggest the economy may pick up some momentum in the months ahead."
Housing Professionals Watching Columbia SC Consumer Confidence Closely
Columbia SC housing professionals are watching Columbia SC consumer confidence trends closely as they prepare for the coming spring market. With inventories still low and uncertain interest rates raising questions about buyer demand, decisions buyers and sellers are making now could shape sales and price trends for the coming season—and the whole year to come.
We'll keep you up to date on Columbia SC consumer confidence and housing here at our website as the year progresses. Check out our other news articles and information at the Columbia SC Real Estate News link to your right under Columbia SC Real Estate Categories.