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The Internet and your finances

Valbona Bushi

Issue date: 3/6/09 Section: News
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Our generation, generation Y, is blessed in a different way than generations before us. With the Internet, we have access to more information than ever before. This has increased communication and helped break some of the national borders that seemed so impenetrable before. Yet it is has also become easier to spend our money through various online stores, such as Amazon and eBay.

At the same time, it has also become easier for us to review our wealth online. Every company seems to have a presence online, but with this move to an electronic world, new precautions need to be taken to safeguard your money.

Banks and financial institutions now offer two options: you can choose a traditional bank with local branches and electronic services such as Key Bank or Charter One, or you can utilize online-only institutions like Emigrant Direct. Online-only banks are often able to offer higher interest rates because they cut costs by not having physical locations.

Whatever your decision, here are some points to remember:

Make sure that it is legitimate and that your cash is federally insured. Look for the FDIC logo or look under www.fdic.gov. Remember that you have no federal coverage if you are investing; only your deposits are safe. Read the 'about us section of their website where you'll find their headquarters address and other pertinent information.

Check that you have the correct e-mail address, especially if you have linked it to your account.

Become familiar with your institution's privacy policy. You can opt out of certain programs where the company shares your information for marketing purposes. You should also check whether your bank tracks your browsing habits. This is again done for marketing purposes.

Remember that the Internet is a worldwide network, so keeping your financial information safe is crucial. Many institutions already have many security features, such as:

Encryption - this scrambls your private information before it is sent. Never send information over unsecured e-mail.
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In This Issue

News

  • E.O. Wilson delivers Distinguished Lecture
  • Have you heard about: Student Executive Council?
  • Research at Case: Indian philosophy
  • The Internet and your finances
  • University continues to look for input on SAGES
  • USG � BRIEF
  • USG's Student Life Improvement Grant delayed, but still moving

Sports

  • Baseball: Spartans split No. 10 Wooster
  • Men's Basketball: Spartans get happy ending against Emory
  • MLB Preview: Angels will continue to dominate AL West
  • Softball Preview: Young, small squad and interim head coach hope to come together
  • Spartan Spotlight: Phil Keefe
  • Track & Field: Nwanna mastering all trades
  • Women's basketball struggles in second half, falls to Emory

Fun Page

  • Crossword Answers
  • Jumble Answers
  • Sudoku Answers

Opinion

  • Chimp mauling, octomom clog Congressional operations
  • Editorial: Grant selection process needs refinement
  • Good night's sleep brings health, success

Focus

  • Local artist opens tongue-in-cheek exhibit at AAWR
  • Memoir strays from current popular topics, brings refreshing take to genre
  • Sex and Dating: The benefits of casual sex
  • Spartans of Style: Picking the perfect suit
  • Spring break 2009: a slice of Case students' travel plans
  • The Buzz
  • The Secret Ingredient: Tart and tangy grapefruit
  • The Worst Case Scenario: Enjoying Cleveland in the spring
  • U2 expands Horizon with experimental album
  • Watchmen delivers on hype, lives up to comics
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