Chapel Hill NC Home Blog

Many people have  become addicted to social networking sites such as Facebook, My Space, Meet-up and Twitter.  Personally, I have become attached to Facebook.  While these sites have a lot to offer, it’s also important to think about the security and privacy implications that come along with ‘putting yourself out there’ for public viewing.

For the most part, you get to decide how little or how much information you display. Your ‘personal page’ can be made private or public.  From a security standpoint, the more you keep private, the safer you will be from predators, from hackers and from identify theft. You should always want to protect youself as it relates to your job, your children, your family and your finances.  It’s amazing what some people can do with a birth date, a birth year and your name.
I’ve had people try to ‘friend’ me who I don’t even know even though I have all my settings set to private and ‘only friends’.  As careful as we try to be, there are still people out there profile hunting.
What I also do from time to time is Google my name.  Once a year, I also obtain my credit report.  As the quotes go “You never know” and “Better safe than sorry”.
Until next time, I remain privately yours…

Staci                                                                                                                         Masha Halpern & The Smart Move Team

Credit Cards, Debit Cards or Cash for Teens?  How do we educate our kids about credit and finances? My kids are 14.  I dont think they need a credit card just yet, although at times it would be easier.  When they start driving at around 16, that is probably the right time, mostly in case of an emergency.  When my daughter goes to the mall with her friends, she always asks for food and shopping money.  Cash is fine for food however I prefer to purchase clothes by credit card.  I earn points, I pay my bill at the end of each month and I always have a proof of purchase even if the receipt gets lost. This is where the credit card dilemna comes into play.  She has to ask each store employee to hold clothing items for her, then I meet her at the mall to decide what we will purchase and then I pay by credit card.  If she uses her own earned money, she uses cash.

I applied and was accepted for my first credit card when I went to college at 17.  I had balanced my own savings and checking account for years.  I received a $200 credit limit.  Thankfully, I was financially responsible.  I hope my kids will be too.  

Teens think they know the meaning of money but they really havent had enough life experience yet to be financially responsible, protect themselves and stay out of financial trouble.  We receive credit card applications in their names all the time.  We must protect our children from applying for these cards on their own, borrowing against them and not realizing the consequences.  They must understand you cant just charge and figure out how to pay the bill later.

Debit cards are another option that eliminate the need to carry cash.The money is immediately taken out of your bank account so debit cards eliminate the worry of paying later.  Always check the terms and conditions of your debit card to make sure your bank is not charging you any fees. 

Cash is obviously the most ‘realistic’ for teens.  It provides a sense of spending. You use it, its gone. When its gone, you cant charge anymore and you dont have 30 days to pay it off.  The downside is that it can be lost easily.

Whether you choose a debit card or credit card, always check for annual fees, balance transfer fees and if a cosigner if required.  Compare various credit and debit cards.  Most offer cash back or points for every dollar you spend.

I think teens are capable of learning how to balance a checkbook and how to review a credit card statement.  Once they have mastered these skills and have shown some financial responsibiilty, then its time for the next step of slowly building their credit history and applying for a credit card with a low credit limit.