Your Personal Finances

Consumer Alert

Many people try to take on part-time jobs on top of full time jobs in order to make some extra money. But, job seekers must be on the alert. There are a number of job scams in the marketplace just waiting to scam you out of your hard-earned money.

Watch out for these typical job scams:

• With work-at-home scams, you are asked to buy instructions, materials and sometimes even equipment such as sewing machines, to make items like dolls, aprons, rugs, clowns or jewelry. The promoter falsely promises to buy them back from you at a profit.
• With the work-at-home stuffing envelopes scam, you send a fee to the "company" and receive directions to place the same advertisement you answered in the paper using your address or the postal box as the company address. It's one big scam perpetrated over and over again.
• With out-of-country jobs consumers are promised positions earning big bucks, but they need to pay between $200 and $1000 up front to cover bogus travel costs, work papers or deposits. The fake agents disappear with your money.

Follow these tips from the Better Business Bureau to protect yourself from job scams:

• Do not be fooled by official-sounding corporate names. Some scam artists operate under names that sound like those of long-standing, reputable firms. Do your research to ensure the company is legitimate.
• Never forward or transfer money from any of your personal accounts on behalf of an "employer". Be suspicious if you are asked to "wire" money to an "employer".
• Do not give out your personal financial information. A potential legitimate employer will not ask for your bank account or credit card number. Only give them your bank account number for direct deposits when you are on a legitimate payroll.
• Do not fax copies of your ID or Social Insurance Number to someone you have never met.

Remember, there are no get rick quick schemes. If you are looking to raise extra cash, talk to your financial advisor about how your budget can be adjusted to allow for more spending.