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Think Positive – Introducing The”Set 4 Life Series”

Be On The Look Out For Identity Scams

George B. Thompson — Mon, 08 Mar 2010 14:05:10 +0000

March 8, 2010

Be On The Look Out For Identity Scams Part 2 Identity Theft

George B. Thompson

In 2008, identity theft cost Americans over $48 Billion dollars according to a recent survey conducted by Javelin Strategy and Research. These financial costs are a huge burden on businesses, the criminal justice system, society and the individual. When I read this dollar figure I was alarmed simply because I realize that you can not put a cost on the pain, suffering and stress that one feels when you experience this type of assault. The human cost of time and financial lost, credit problems, your good name and lack of assistance is real and extremely hard to quantify. The main message that I am trying to communicate is that identity theft can have a devastating impact on a victim so you need to be informed.

One preventive measure to stop this crime is to become familiar with the common ways that identity theft happens. That’s right “common ways”, believe it or not identify theft happens in familiar, well-known everyday circumstances. Take a look at the list below and make sure that you take action and protect your personal information.

Good Old Fashion Stealing: Someone steals your wallet or purse; credit cards; credit card statements; pre-approved credit card offers; new checks or tax information. Someone can also steal personnel records or personal records stored at a bank, hospital, or company by hacking into their computer system.

Dumpster Diving: This just sound gross but people are desperate. Someone searches through your trash looking for bills or papers with your personal information on it. Remember to shred your mail before tossing in the trash.

Shoulder Surfing: This is when someone is watching you from a nearby location watching you punch in your pin number or credit card number. Remember to cover your hand when you are dialing in these numbers. Also, this could involve someone listen to you give your personal information via phone. Remember to avoid opportunities to give this information over the phone, especially if this call is an unsolicited call.

Skimming: This involves someone stealing your credit card number by using a special device when your card is processed.

Phishing: Someone pretends to be a financial institution or company and sends you spam or pop up messages to get you to reveal your personal information.

I hope you found this information helpful. Last year over 11 million people fell victim to identity theft. I believe that the more we become aware of how identify theft happens, we can make informed decisions and prevent it from occurring in our own lives. Next week we will look at what steps to take if you become a victim of identity theft.
It is my desire that you are inspired to be a good steward over these three areas of your life: Time, Talent, and Treasure. Time, you must learn to manage your time; talent you have skills and gifts and lastly treasure, your finances need to be managed appropriately. All of these areas work together; when they are managed properly you will be able to become A BETTER YOU!

Pastor George

Written By Pastor George B. Thompson for Elev8.com

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Don’t Get Punked By Idenity Theft

George B. Thompson — Mon, 01 Mar 2010 14:05:36 +0000

March 1, 2010

Don’t Get Punked by Identity Theft

George B. Thompson

Everyday thousands of ordinary people like you and me become victim to identity theft. Identity theft is when a criminal takes someone’s personal information (social security number, birth date, bank account number, credit card number etc.) for their personal gain. The scary thing about this type of crime is that it can happen at any time – you can be at home, work, school or sleep. Identify thieves are no respecters of people, time or place. They will prey at any opportunity and waste no time getting what they want.

Minimize your risks and take proactive steps to stop identity theft before it happens to you.

Here are a few steps you can take to prevent identify theft from happening to you.

Do not give out personal information over the phone, mail or internet -

Unless you initiated the contact; however still be cautious, know who you are giving the information to and what it will be used for and who will see it.

Don’t carry more than what you need in your wallet or purse.

Avoid carrying your social security card

Avoid carry more than 1-2 credit cards

Use cash in questionable retail stores, nail shops etc.

Review your credit report on a regular basis

Shred your documents

Pay close attention to your mail

Know when your bills arrive

Shred mail once you have read it

Review your credit card and bank statements every month

Create strong passwords.

Avoid using your birthday, name, car model, pet name
Change your passwords regularly and do not use the same one for everything.

Beware of online phishing scams

Do not open e-mail from senders that you do not know

Do not click on links that you do not know

I hope these steps are helpful to you. Unfortunately we cannot think that it will never happen to us. Statistics are showing that identity theft is on the rise becoming more frequent and pervasive. Over the next couple of weeks we will take a look at some common ways that identify theft happens and what steps you should take if you become a victim of identity theft.
It is my desire that you are inspired to be a good steward over these three areas of your life: Time, Talent, Treasure. Time, you must learn to manage your time; talent you have skills and gifts and lastly treasure, your finances need to managed appropriately. All of these areas work together; when they are managed properly you will be able to become A BETTER YOU!

Pastor George

Written By Pastor George B. Thompson for Elev8.com

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Now Is The Time To Review Your Credit Report

George B. Thompson — Mon, 22 Feb 2010 14:05:13 +0000

February 22, 2010

Shot Caller: Review Your Credit Report

By George B. Thompson

Many of us have adopted a buy now and pay later attitude which means that we have a credit card or two in our wallet. With that in mind, I highly recommend reviewing your credit report with a fine tooth comb at least a year.

This might seem like a laborious process but I guarantee this preventative financial maintenance has major benefits in the long run. The last thing you want to experience is being declined for a line of credit and discovering there is misinformation or fraudulent activity on your credit report by someone else.

Monitoring your credit report often will help you keep your eyes on two of your most financial treasures, your good name and your credit score.

Here are the steps to obtain your credit report:

Step 1: Request your credit reports from all three credit agencies (Experian, TransUnion and Equifax) by phone, mail or online. You are eligible for one free report annually. .

Experian 1-888-397-3742; www.experian.com
TransUnion 1-800-916-8800; www.transunion.com
Equifax 1-877-322-8228: www.equifax.com

Step 2: Review each report for inaccurate information.

Make sure all relevant and vital information, your name, address, date opened, and date closed, is correct. If there are discrepancies notify the agency right away.
Make sure past and present credit account information is accurate. If there are discrepancies notify the agency right away.
Look for fraudulent activity on your credit report. If there are fraudulent accounts on your report, notify the agency right away.
Review your credit score. A good credit score is 720 or above.

Step 3: Notify each credit agency. Each credit agency can be reached by phone, mail or online. I highly recommend that you send each credit agency a letter by certified mail providing them with a detailed explanation of what needs to be corrected and include any supporting documents to support your claims. The credit agency has 30 days to respond to your letter and update your credit file.

Step 4: Follow up with the credit agencies. Obtain a copy of your credit report and confirm if the changes that you have request have been made.

In order to create healthy financial habits it requires us to kick some of the bad habits that we have acquired overtime. I hope the information above gives you some valuable insight on the benefits of checking your credit report and why it is important to check your report more than once a year. Next week we will take a look at a few ways to prevent identity theft. See you then.
It is my desire that you are inspired to be good steward over these three areas of your life: Time, Talent, and Treasure. Time, you must learn to manage your time; talent you have skills and gifts and lastly treasure, your finances need to managed appropriately. All of these areas work together; when they are managed properly you will be able to become A BETTER YOU!
Pastor George

Written By Pastor George B. Thompson for Elev8.com

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New Credit Card Reforms Give You A Fighting Chance

George B. Thompson — Mon, 15 Feb 2010 14:05:09 +0000

Last week I informed you to be on the look out for major credit card reforms that will be in full effect starting February 22, 2010.

Special thanks to Congress and President Obama the Credit Card Bill of Rights Act 2009 (the formal name is Credit Card Accountability Responsibility and Disclosure Act of 2009) will put the smack down on credit issuers by placing stiffer guardrails that would prevent them from pouncing on consumers like you and me.

I dread calling the credit card company to ask them what seems like a simple question only to be convinced when they give me the answer; that I need an interpreter to help me understand the question that I asked. To be frank, I have a sneaky suspicion the credit card account representative on the other end of the line doesn’t know what they are talking about either. These new credit card rules are expected to eliminate this confusion and provide major protection to the consumer.

Here are a few more highlights of the changes:

Payments due on the same date each month.

No fees to make your credit card payment online, by mail or over the phone, unless you make a last minute payment over the phone.

The billing statement must be sent to you 21 days in advance before the due date.

Mailed credit card payments delivered by 5 pm on the due date are on time.

Payment made at a local branch should be credited the same day.

Payments are on time when received the next business day after a holiday or weekend. For example, if your due date falls on a holiday or weekend and the card issuer receives your payment on the following Monday, your payment will be considered on time.

Credit card issuers will not be able to charge over-limit fees unless they obtain the account holder’s consent to accept and process over-limit transactions beforehand.

I hope these highlights were helpful to you. Remember to review your credit card statement to make sure that your credit card issuer is following the new rules. For a detail look at the bill go to www.whitehouse.gov for more information. Check back next week and I will share steps to help you clean up your credit.
It is my desire that you are inspired to be good steward over these three areas of your life: Time, Talent, Treasure. Time, you must learn to manage your time; talent you have skills and gifts and lastly treasure, your finances need to managed appropriately. All of these areas work together, when they are managed properly you will be able to become A BETTER YOU!
Pastor George

Written By Pastor George B. Thompson for Elev8.com

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Save The Date: Credit Cardholder Bill Of Rights Act in Full Effect

George B. Thompson — Mon, 08 Feb 2010 14:05:08 +0000

Date: February 8, 2010
Save the Date: Credit Cardholder Bill of Rights Act in Full Effect
By George Thompson
Hey I’m sure most of you, if not all of you, have received changes in the mail regarding your credit cards. They have changed the terms, reduced the limits, increased the interest rates, etc. Then they say if you don’t agree with these changes the account will be closed and you can continue to pay the balance. This just doesn’t work for most of us. So this week I thought I would drop a little knowledge on what’s happening in the credit card world.
Major credit card reforms will kick in on February 22, 2010. Last May Congress voted and passed the Credit Card Bill of Right Act 2009 which was signed by President Obama. The law is designed to protect American credit card holders by strengthening consumer protection and implementing tighter guardrails to put a stop to credit card issuers “deceptive and unfair” business practices. Here’s what you need to know about the new act and how you will benefit.

Highlights of the benefits of Credit CARD Bill of Rights Act 2009:
*No increase interest rates on new credit card account for the first 12 months unless the borrower falls 60 days behind.

*No increase interest rates on existing account unless the borrower is 60 days late.

*Full and enhanced disclosures in plan language and in plan sight all terms, conditions, changes and adjustments of the credit card contact.

*Must give 45 day advance notice of increase in interest rate. In the past the credit card issuers had 15 days to notify you of these changes.

*Credit card issuers will have to include a minimum payment disclosure that explains how long it will take to pay off the existing balance and the total cost in interest fees if the cardholder paid only the minimum amount due.

*If you have shown improvement in you credit use credit card issuers can’t leave your rate at the default interest rate.

*The promotional interest rate must last for 6 months

Check back next week and I will continue with the breakdown of consumer benefits. Review your accounts and make sure the companies are getting over on you.
It is my desire that you are inspired to be good steward over these three areas of your life: Time, Talent, Treasure. Time, you must learn to manage your time; talent you have skills and gifts and lastly treasure, your finances need to managed appropriately. All of these areas work together, when they are managed properly you will be able to become A BETTER YOU!
Pastor George

Written By Pastor George B. Thompson for Elev8.com

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God’s Got A Lot To Say About “Your” Money

George B. Thompson — Mon, 01 Feb 2010 14:05:58 +0000

Did you know that the bible contains over 2,000 references pertaining to money and finances?

The bible provides a clear road map to financial success and prosperity God’s way. The reality is that financial success does not just happen by chance, it requires diligence and discipline. A believer with bible knowledge combined with practical wisdom will find good success and a prospers journey.

There is so much I would love to share with you concerning your finances that is referenced in the bible. I wish I had the time to share them all. Today I have chosen ten powerful financial tips from the bible that will help you manage your finances with a biblical and practical understanding.

God created and owns it all: It is important that you manage your finances and possession with the right perspective and understanding. God created and owns all that exist in world, including all your possessions and the money. (Deuteronomy 10:4; 1 Chronicles 29:11-12; Psalms 24: 1; Hebrew 11:3.)

Your responsibility is to manage the resources that you have been given: Christians are called to be responsible stewards or mangers over the money we earn and the things that we acquired. A steward is a manager of another property. If God owns it then it is His property then we are called to manage what we have been given. Now is probably a good time to think about the relationship you have with money, the house, car and other resources that are in your possession. Are you taking good care of it or are your mismanaging it? God trusts His resources to the faithful. (Matthew 25:21) and will hold us accountable in the end. (Matthew 25:24-30)

God will Provide: God’s resources are unlimited (Psalms 50:9-10). He has plenty and can supply all your needs even in the recession. He is the same and has not changed. The bible says He can provide food for the birds who neither reap or sow (Matthew 6:26); the children of Israel in the wilderness (Exodus 16:4-35); and for Elijah by sending ravens (1 Kings 17:4-6) and with Jesus feeding the 5,000 (Matthew 14:15-21) and 4,000 (Matthew 15:32-38) with just a few loaves of bread! Not only will be provide but he has multiple channels to get it to you.

Avoid a greedy pursuit of gaining wealth: It is not wise to be in a rush to get rich quick or grow the money they have fast. Growing your money requires discipline and patience. If it sounds too good to be true they it usually is. (Proverbs 13:11; Proverbs 20:21). The Bernie Madoff scam is a perfect example of why you should not be in a rush to gain wealth.

God gives you the ability to gain wealth: This is one of my favorites scriptures references located in Deuteronomy 8:10-18. It is easy to get it twisted and take all the created for all that you have acquired. We live in a hyper consumer culture and many of us have been in pursuit of the American dream for a long time. Remember the skills, the job, the opportunities, the business, the ideas and the doors that have been given to you were created by God.

Create a budget and a record of your spending: A dollar earn today is easily spent tomorrow if you do not use wisdom and create a budget and keep track your expenses. When you first create a budget it might seem restricting and you might feel like you are been restrained to enjoy life. In fact a budget is to help you keep track of your expenditures, help you plan for the present and the future and in the end help you save money. Use Godly wisdom to keep track of the money you are managing (Proverbs 22:3; 24:3-4; 27:12; 27:23).

Give and you will be a blessing: The bible charges Christians to give freely with a generous heart (Matthew 5:42; 2 Corinthians 9:7). When you give you are God feet and hands on earth. Now is a good time to be generous with your financial resources to support the Haiti Earthquake Relief efforts. The Red Cross is one reliable resource. Check out the Huffington Report to explore other options. Also, giving is not always about money, you can give your time and talent. Even in tough times you can give (2 Corinthians 8:2-3)

Living Debt Free: Being in debt is a form of slavery, a physical, mental, emotional and spiritual bondage. When we owe debt on our credit cards we become enslaves to Master Card and Visa. The bible says that the borrower is a servant to the lender (Proverbs 22:7) and encourages us to stay out of debt (Romans 13:8, Proverbs 3:27-28; Proverbs 37:21; Proverbs 22:26-27 and Proverbs 17:18)

Get Wise Counsel: It does matter if you have a little or thousands of dollars to manage it is important to seek counsel no matter what financial decisions you are facing. People of are certified to manage money are skilled at not only giving you advice but can also help you create a plan to help you grow your money or get out of debt. (Proverbs 12:15; Psalm 16:7)

Give your Tithes and Offerings: I would be remiss if I did not mention the importance of paying your tithe and offerings. A tithe is “when you return to God 10% of what you earn.” Sadly in the church there is much debate about this subject, however I am going to let the scriptures speak the truth. (Leviticus 27:30, Numbers 18:26, Deuteronomy 14:24, 2 Chronicles 31:5, 1 Corinthians 16:1-2; James 1:5)

It is my desire that you are inspired to be good steward over these three areas of your life: Time, Talent, Treasure. Time, you must learn to manage your time; talent you have skills and gifts and lastly treasure, your finances need to managed appropriately. All of these areas work together, when they are managed properly you will be able to become A BETTER YOU!

Pastor George

Written By Pastor George B. Thompson for Elev8.com

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The Benefits of Savings Is All About The Benjamins

George B. Thompson — Mon, 25 Jan 2010 00:41:55 +0000

Life is always going to happen. There are always going to be unexpected events around the corner and they usually hit us right in our wallets or bank accounts.

Whether it is the plumbing problem, car breaking down or as serious as a job loss having a savings account will provide a cushion to help ease the blow when these events occur in our lives.

Having a savings account will not only help you improve your financial picture but it can provide you with a safety net when tough times come your way. This combined with a saving plan is an essential practice to help you build wealth and maximize your financial success.

I think everyone should have a savings account, after the checking account. We all have debit or cash cards. Most people deposit their pay check in their checking account which is linked to their debit card and swipe away to one transaction to the next and a savings account might seem foreign or old fashion.

Here are a few of the benefits to having a savings account:

Piece of Mind: In this difficult economy placing your good hard earned money in a stable and safe place should give you some piece of mind. The money you place in a saving bank account is protected by the federal government (up to $250,000 per depositor) by what is known as Federal Deposit insurance Corporation (FDIC) Insurance.

Earn Money While You Save: You can earn interest on the money you deposit in your account while you are saving for college, vacation, car down or house payment.
Achieve Short Term Goals: This a great tool to help you achieve your financial goal. Some banking institutions will allows you to give your account a name and to set the dollar amount goal. Whenever you log onto you account you can keep track of your goal. These accounts are easier to access and do not have penalties associated if you need to access your money for an emergency.
You are less likely to spend it: If you put your money in a bank savings account, chances are you are less likely to spend it versus if you were trying to save it in your checking account or hiding it under your bed.

Types of Accounts

Traditional Bank Saving Accounts: The benefits are listed above.

Money Market Account: This type of account is best for building up long term saving goals that you do not need to access right away. This would be a great vehicle to use to saving for your emergency fund or house down payment. It is easy to access just like a general saving account, however banks put restrictions on the amount of checks you can write form the account and there is a minimum balance required.

Certificate of Deposit or CD Account: This type of account is best if you have cash that can be idle for a set period of time. A CD is a debt instrument that issued by the bank that pays interest. In other words, you are lending the bank money for a predetermined time period and will earn a set interest rate at the time of maturity. This type of account has a minimum deposit amount, is FDIC insured and yields higher interest rates than a regular savings account.

The Challenge:

Sometimes we can only see what is in front of us and that could be the financial issue that we are facing today. Our viewpoint is myopic and we need to widen our scope to sometimes see the bigger financial picture and realize that if we choose to save one dollar or twenty dollars a week not only is it a good start but we have to begin some where. Start saving those Benjamins because it adds up.

Pastor George

Written By Pastor George B. Thompson for Elev8.com

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Small Changes Can Add Up To Big Change

George B. Thompson — Mon, 18 Jan 2010 01:17:55 +0000

Resolutions Solution: Small Changes that Add up to Big Change!

Each year we start off the year with good intentions to complete our financial goals. One reason our goals don’t translate into reality is because we take on more than we are able which results in failure. Then our desire to accomplish our financial resolution fades leaving us with another year with our goals unattained. One of the best ways to see results quicker and faster is to make small changes in how you managed your money in 2010. Honestly, making these small and simple changes in how you handle your money will increase our financial wealth without causing you to become stress and overwhelmed in the process.

I have listed a few simple strategies that you and your family can do that are easy and will not cost you nothing except a little disciple and perseverance. By implementing these simple solutions in your life they will add up to big results in 2010.

10 Simple Solutions to Save Money:

Forget about keeping up with the Joneses, if you have not heard the Joneses, Smiths and Johnson are now on a tight budget.

Give yourself an allowance. Money does not grow on trees, using ATM like a bottomless piggy bank. Discipline yourself and off your allowance.
Examine your monthly bills, even when they are paperless. Credit card companies put messages on the bill make sure you did not miss any hidden fees or things you did not sign up for. Ask for over charges to be removed, you don’t need a reason. It might result in a credit.
Call all creditors and ask for a lower interest rate. Remember a credit card is not a solution to your financial problem; it is just a Band-Aid and besides it does not hurt to ask.
Eliminate unnecessary debit or ATM fees by creating a budget and a spending plan that will help you know how much cash you will need. Instead of going to a non-bank ATM go to your bank to withdraw the money you need. This simple step will keep you from excessive non-bank ATM fees.
Adjust your thermostat when you are away from home for long periods of time. My mother used to say, “Don’t heat up the furniture. (I grew up in Minnesota.)
Recycle, you are throwing away money. I just read last week a couple in Washington State is saving and soliciting cans to save up enough money for their wedding.
If you have adult children at home they should be paying rent. Parent convince themselves that they are helping but in reality they are handicapping their children. They are creating a false sense of reality. Make them pay rent that is comparable to what would be charged a stranger. If you do not charge them, they will never move out.
Do not buy designer clothes for babies and young children! This boost your self esteem, not the child. A two-year old is not aware of the latest trends.
Repair what is broken versus going out to buy a new one. It is always tempting to just throw something out when it is broken than to repair it. However you save more money in the long run if you get repair it.

I am here to help you achieve success in the days ahead but will also help you get the most out of stewardship experience in 2010.

Pastor George

Written By Pastor George B. Thompson for Elev8.com

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Let’s Start S.M.A.R.T In 2010

George B. Thompson — Mon, 11 Jan 2010 14:05:58 +0000

Let’s Start S.M.A.R.T in 2010
George B. Thompson

With 2009 behind us and 2010 upon us. It is time to start setting our goals for the months ahead. As good stewards over our time, talents and treasure it is never too early to start planning which is why I writing about this topic this week. Stewardship is utilizing and managing all the resources that God has given us. One of the principles of Stewardship Living called us to create goals that connect to our God given purpose. Today I want to give you tips on how to identify and set goals for yourself using stewardship as your standard. So let’s get it started!

A goal is an aim or desired result. In other words, a goal is the intended target that you are striving for. Creating a plan to accomplish your goals will not only help you be effective but will help you stay on track. Below you will find a few tips that will provide you with direction to writing your goals.

When creating goals for yourself they should be S.M.AR.T. which is a acronym for specific, measurable, attainable, realistic and time binding. You should know what success looks likes and be able to write it down. Think about it, if your dreams and goals are out of focus then you will produce unfocused results.

Here’s what I mean:

SPECIFIC: Be specific about what you are trying to achieve. Know the who,what and where you want to accomplish with this goal.
Out of Focus example: I will to buy a house.
Specific example: I will buy a house in four years in this location.
MEASURABLE: You should be clear and precise about the time, dates, location and amounts so your accomplishments can be measured. Remember goals that can’t be measured can’t be managed. You need to be able to access your progress.
Out of Focus example: I want a profitable business.
Specific example: I want a profitable company within 5 years and $25K cash in the bank.
ATTAINABLE: Make your goals small enough that you will be able to achieve them. If you make your goal “too lofty” then you will get easily discourage and not feel like you have accomplished anything.
Out of Focus example: I want to be famous.
Specific example: I want to be known worldwide in 5 years by being a successful motivation speaker with seminars, workshops, a website and 4 books.
REALISTIC: Your goals need to be relevant to your purpose and mission. They should connect to what you are aiming to accomplish right now. Write your goals down in a journal or type them in your computer. They should be in a place when you can easily go to it and review them on a regular basis.
Out of Focus example: I will travel the world
Specific example: In one year I will be a leader in my community who will fight injustices against the under served.
TIME BINDING: You goals should be time sensitive with a deadline. This is important and makes your goal attainable. Otherwise it is opened. The date will keep you accountable.
Out of Focus example: I will clean the garage.
Specific example: I will clean the garage by July 30th, 2009 at 7:00 pm.

Lastly, I recommend that the goals that you create are balanced and reflect the many dimensions of our life. Set them in different areas of your life so that you can live a balanced life. Your goals need to be in:

the more specific you are the better, and then how do you measure success, and then something is obtainable and when you’re going to achieve in as we march in the 2010. If you would like more goal achievement information play Set-4-Life.

Pastor George

Articles written By Pastor George B. Thompson for Elev8.com

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