It's probably not money laundering, but it's pretty stupid—those things are always scams.
There are two versions:
Sometimes the checks are bad. They'll bounce after a few days and the bank will take the money back, meaning that you're screwed.
Other times the checks are good, but the company that you're "receiving" them for is bad. Legit customers will send legit checks, but then the company ships bogus merchandise (stolen, fake, substandard—or nothing at all). When the customers file criminal complaints, you're on the hook as a representative of the company. At best you have to give the money back. At worst, you could be charged as an accessory or even a conspirator.
Whether it's money laundering or not, I'd definitely stay away from any such scheme.
All great tips - thanks for sharing! I may have to steal the long underwear idea while I'm on location for work (which means no space heater) and I do use my Boxer to keep my feet warm while laying on the couch. :)
Excellent suggestions. I would also like to add that there is a psychological component involved. Sometimes we can be comfortable with lower temperatures than we might think. One of my friends kept telling me this, and at first I didn't believe it, but I experimented and it's true. While I do wear layers of warm clothes at home (so consider that as part of the equation), I now am completely comfortable with the thermostat set at 60 degrees or even lower (unless I'm feeling under the weather). It didn't happen overnight. I kept turning down the thermostat one degree at a time to see what my limit was, and it turned out to be a lot lower than I would have predicted.
@Simon - That is so true. People put too much pressure upon themselves to prove their love to others with gifts. Then it becomes expected from the receiver of gifts. It's a hard cycle to break. Especially with the media constantly marketing all these items. Lucky for me, I am quite frugal and hate to shop. I get sticker shock big time. And I think those who know me finally get the clue.
ok so if a company in another country ask's you to help them by recieving payments from in the u.s cashing them and sending them to the company is that laundering?
What a shame. But that's a great point to share with readers. I've noticed that colleges and universities are starting to do more of this, too, at least it seems. Definitely something to ask during the course of due diligence. Thanks a lot, Marla.
Chris, great post. I was disappointed when an organization we gave to sold our name/address to a mailing list business. Suddenly, we were swamped in requests. Because of that experience, I would ask the organization if they sell that information.
A big one is the programmable thermostat. They are relatively inexpensive (under $50 for a basic one) and easy to install and you will get your money back fast. When I lived in an apartment I installed one (put the complexes in a safe place to reinstall before leaving).
Also - Keep the thermostat as cool as you can stand (every degree above 68 will cost you 7-10 percent more on your bill.)
Watch-out for leaky windows doors. Put heavy curtains on your windows and look at sealing them well - inexpensive. Seal your doors too.
And oil-filled space heaters are a safe alternative, especially those with animals and/or kids. We turn ours on in the bedroom at night (with the ceiling fan turned for winter mode to help circulate the heat) and allow the rest of the house to be cooler.
Great tips!! We also use extra blankets at night, and turn down our thermostat. Open up south facing windows when its sunny out, it helps heat the house. Close drapes and blinds during "dark" hours, or cloudy days. This will trap heat inside of your house.
I signed onto Points.com back in college, but I never actually took advantage of it. I'll have to look back into my old account and see if it's still around!
Great article - I couldn't agree more. Christmas spending has gone so far as to become pathological according to one UK study! They suggest that Christmas is a significant contributor to depression - primarily through the spending habits that we feel are appropriate.
Hi Jennifer, This site just might be really helpful for me. I have a really tough time keeping track of all the programs. And, I do travel a lot! Now, if I can just find the time to get to the site :)
Love the "Hobby or a Business" post. In early years of operation when your business isn't making much money you have to be careful and make the distinction. Operate like a real business. Save ALL receipts, print business cards, behave professionally. This will help you identify yourself as a real business in the event of an audit.
Little House: I'm writing a finance guide for people who have a history of getting into debt. What would you recommend for consumers who want to get back to credit cards and that could be beguiled by these rewards programs (then abuse them)?
My credit union requires a minimum balance for keeping a checking account OR changing to a checking account that is managed purely online, without notifications by letters. I changed this year. For the money market account, they require a minimum, too, to accrue any interest - I'm OK with that.
Thanks for the post. This sounds like a great resource. My own website is still fairly new, and I know that my topics are pretty broad, and the navigation definitely needs improvement. I am always looking for ways to improve my site, and I look forward to reading this book.
I love Brussels sprouts, especially shredded and roasted until they are nearly black, with Cajun spices.
Something I heard on the radio this morning that struck me as kind of fun was Nigella Lawson's recipe for peanut butter hummus. Peanut butter tends to be used mostly in sweets in the West, but peanuts are a savory treat and a good source of protein, and are used in lots of Asian cooking as such.
With interest rates as low as they are right now, keeping a large minimum balance costs almost nothing.
Between now and when rates go up, take some time to look around at alternatives. Local banks and credit unions offer other choices. Start with the list of bank services that you require, and then look for a bank package that provides those services for no (or low) fee with small minimums.
It's probably not money laundering, but it's pretty stupid—those things are always scams.
There are two versions:
Whether it's money laundering or not, I'd definitely stay away from any such scheme.
All great tips - thanks for sharing! I may have to steal the long underwear idea while I'm on location for work (which means no space heater) and I do use my Boxer to keep my feet warm while laying on the couch. :)
Excellent suggestions. I would also like to add that there is a psychological component involved. Sometimes we can be comfortable with lower temperatures than we might think. One of my friends kept telling me this, and at first I didn't believe it, but I experimented and it's true. While I do wear layers of warm clothes at home (so consider that as part of the equation), I now am completely comfortable with the thermostat set at 60 degrees or even lower (unless I'm feeling under the weather). It didn't happen overnight. I kept turning down the thermostat one degree at a time to see what my limit was, and it turned out to be a lot lower than I would have predicted.
@Simon - That is so true. People put too much pressure upon themselves to prove their love to others with gifts. Then it becomes expected from the receiver of gifts. It's a hard cycle to break. Especially with the media constantly marketing all these items. Lucky for me, I am quite frugal and hate to shop. I get sticker shock big time. And I think those who know me finally get the clue.
ok so if a company in another country ask's you to help them by recieving payments from in the u.s cashing them and sending them to the company is that laundering?
What a shame. But that's a great point to share with readers. I've noticed that colleges and universities are starting to do more of this, too, at least it seems. Definitely something to ask during the course of due diligence. Thanks a lot, Marla.
Long underwear! It's my trick to dressing appropriately for the office while staying warm.
Keeping someone else in bed is also a good way to stay warm at night - be it partner or Boxer. :)
Chris, great post. I was disappointed when an organization we gave to sold our name/address to a mailing list business. Suddenly, we were swamped in requests. Because of that experience, I would ask the organization if they sell that information.
Cuddle with a loved one! Free heat!
A big one is the programmable thermostat. They are relatively inexpensive (under $50 for a basic one) and easy to install and you will get your money back fast. When I lived in an apartment I installed one (put the complexes in a safe place to reinstall before leaving).
Also - Keep the thermostat as cool as you can stand (every degree above 68 will cost you 7-10 percent more on your bill.)
Watch-out for leaky windows doors. Put heavy curtains on your windows and look at sealing them well - inexpensive. Seal your doors too.
And oil-filled space heaters are a safe alternative, especially those with animals and/or kids. We turn ours on in the bedroom at night (with the ceiling fan turned for winter mode to help circulate the heat) and allow the rest of the house to be cooler.
Bake lots of goodies and drink plenty of warm beverages!
Great tips!! We also use extra blankets at night, and turn down our thermostat. Open up south facing windows when its sunny out, it helps heat the house. Close drapes and blinds during "dark" hours, or cloudy days. This will trap heat inside of your house.
I signed onto Points.com back in college, but I never actually took advantage of it. I'll have to look back into my old account and see if it's still around!
Great article - I couldn't agree more. Christmas spending has gone so far as to become pathological according to one UK study! They suggest that Christmas is a significant contributor to depression - primarily through the spending habits that we feel are appropriate.
Hi Jennifer, This site just might be really helpful for me. I have a really tough time keeping track of all the programs. And, I do travel a lot! Now, if I can just find the time to get to the site :)
Love the "Hobby or a Business" post. In early years of operation when your business isn't making much money you have to be careful and make the distinction. Operate like a real business. Save ALL receipts, print business cards, behave professionally. This will help you identify yourself as a real business in the event of an audit.
Little House: I'm writing a finance guide for people who have a history of getting into debt. What would you recommend for consumers who want to get back to credit cards and that could be beguiled by these rewards programs (then abuse them)?
My credit union requires a minimum balance for keeping a checking account OR changing to a checking account that is managed purely online, without notifications by letters. I changed this year. For the money market account, they require a minimum, too, to accrue any interest - I'm OK with that.
That's a good point. There's no need to sign up for a bunch of programs, especially if it costs money or causes one to spend more!
Thanks for mentioning this site. I've never heard of it before and will check it out.
Thanks for the post. This sounds like a great resource. My own website is still fairly new, and I know that my topics are pretty broad, and the navigation definitely needs improvement. I am always looking for ways to improve my site, and I look forward to reading this book.
Amen to preserved lemons - seriously my favorite garnish ever.
"I love Brussels sprouts." We can no longer be friends.
I love Brussels sprouts, especially shredded and roasted until they are nearly black, with Cajun spices.
Something I heard on the radio this morning that struck me as kind of fun was Nigella Lawson's recipe for peanut butter hummus. Peanut butter tends to be used mostly in sweets in the West, but peanuts are a savory treat and a good source of protein, and are used in lots of Asian cooking as such.
http://www.npr.org/2010/12/13/131968482/last-minute-holiday-guests-nigel...
It'd be good for a party, but also a nice gift if you needed to give something to a foodie friend.
With interest rates as low as they are right now, keeping a large minimum balance costs almost nothing.
Between now and when rates go up, take some time to look around at alternatives. Local banks and credit unions offer other choices. Start with the list of bank services that you require, and then look for a bank package that provides those services for no (or low) fee with small minimums.