This country has faced many fraud problems and is still unable to come out of it, but Auto Insurance Fraud is today's biggest fraud problem reported. Staged auto accidents has become the most popular and sophisticated scam for the criminals. Caught into such a scam can make you and your families pay with their lives as they involve many participants at a time in it. So in this post I am going to discuss some most happening auto insurance fraud scams and also report prevention from them.
i) Swoop and Squat: This scam normally involves three vehicles. Two of them are driven by the criminals while the third is driven by the victim. The first criminal car is known as 'squat' which is driven by placing the car in front of the second criminal car known as the 'swoop' vehicle. The swoop vehicle then intentionally increases speed and cuts off the squat vehicle causing the driver to apply break and come to a sudden stop. Before the victim can realize and react on the situation, his vehicle crashes on the back of the squat vehicle. Meantime the swoop vehicle runs away and never gets traced again. Now the victim is caught responsible for this accident, and even if he informs police that the actual accident is done by swoop driver, that individual is never caught, hence the victim lands up paying for all the damages.
ii) Side Swipe: This always happens in busy intersections of roads and places with dual left hand turning lanes. The criminal intentionally keeps his vehicle on the outer left turn of the lane and when the targeted victim tries to turn, the criminal immediately swipes by the other vehicle. The busy traffic gets the victim into trap and unnecessary debate. At last he is held responsible for the accident and damage.
iii) Panic Stop: In this type of scam the criminal driver drives a vehicle loaded with passengers and placing the car right in front of the target vehicle. A passenger is instructed beforehand to keep a constant notice on the victim driver whether he takes his eyes off from the road to either receive a call or for changing car fm station. Noticing any such signal the criminal driver suddenly applies car break forcing the victim to cause a sure accident and hence land up compensating for the damages and injuries incurred by the passengers.
Like these, many auto scams are ruling the road, targeting innocent people and making money out of them. Do we actually have any prevention from these? Yes we have, and the only prevention is to be extremely observant and careful while driving and keeping a safe distance from the vehicle ahead. Obeying traffic rule and driving safe and smart can only prevent us from becoming the next auto insurance fraud target victim. So, keep the above points in mind and save yourself from getting trapped into it.
Are you a student of university or doing any other crash course? If yes then all the best for your future. Now by future i am not meaning a good career only, i am also hoping you are taking care of your money as well. If this answer is no then stop here and take a deep breath because now you need to learn to take care of your financial condition as well. this is a very crucial time when we need to understand our responsibilities and this is the reason why universities also teaches us about money management. Read the points given below which i have written after lot of study and research specially for students and i am sure you will find out your suitable way of saving money.
i) Do not make any decisions based on incentives - never do this mistake of living based on your incentive and freebies. It make things difficult and harder and not a smart money saving tip at all, instead research out some best overdraft deals to survive.
ii) Budget and stick to it - make plans and budget today according to your income and total expenditure obviously keeping some as savings and promise yourself to stick to it no matter what happens.
iii) Use your student loan wisely - use your instalment of loan wisely and dont blow up cash quickly in excitement of being at university. Trust me it is never a fun having no money. So take time as much as you need to think and then spend.
iv) Protect yourself - learn to take your own responsibility. Do not ask your friend to use your ATM card and PIN number to withdraw cash for you, dispose all your financial documents in proper place, invest in a shredder for better security. Living in shared accommodation leaves a high chance for identity theft, hence give your correspondence address as your parent's address.
v) Buy insurance - not many students would like to follow but trust me theft do happen on campus, so do it for your own benefit. Companies are there who provide great student insurance rates as a university welcome pack. So take full advantage of it.
I know you have already made your choice of saving money as per your suitability from the above given points. So what are you waiting for? start doing it from now
Thinking to start with money management? Hold on for a while and gather useful information from this post which you will need at every step you take and which will also guide you to move ahead in life with successful money-management. Starting from retirement to investing, tax to credit cards or financial freedom to money management, one common thing is to have"control over our money".
The best time to start money management is when we are young professionals. This period gives you money, options to spend the same and options to save as well. Young working demographic people need guidance the most. So, let me give you some tips on it.
i) Eat out less - eating outside is more expensive than cooking.
ii) Set a budget - fix a budget, plug as many leaks as possible and boost your emergency fund today.
iii) Assess your fire ability - recession time so anybody can be fired at any time, hence if you are expert in anything and that expertise is valued, then let those people know specially about this who make the firing decision.
iv) Polish up your resume - always keep an updated resume irrespective of good or bad time and whether you are looking for a job or not. It is also a good idea to accomplish your achievement.
v) Keep good network with people in your industry - reference from coworkers does half the battle. So keep a good network with useful and helpful people.
vi) Avoid signing contracts - do not sign any contracts for expensive products in this kind of uncertain future.
vii) Avoid loans - try to control your wishes so that you do not have that urgency to take loan and fulfil ypur wish.
Explaining some more money saving tips usefull for all readers of any age:
i) Income and expenditure - start thinking big and wide. Untill you have the appetite you cannot think of having more food. So dream big and want more, there is nothing harm in it. Everyone wants to get rich, so explore all possible ways where you live to earn some extra money. Start something small today and you will grow big tomorrow. And on the other hand understand and prioritise your necessities and avoid unnecessary expenditures. Expensive products are not always good, do some bargaining which can save little amount for you. Afterall its your hard earned money.
ii) Investment and Tax Saving - invest your money wisely after checking out all possible opportunities keeping in mind where ever you invest, it should have maximum possibility for growth so that it hepls you in long run. At the same time do some study and research related to your living style and go for some tax saving plan as well. Insurance for example is a very good idea to save tax.
iii) Save money in two bank accounts atlest - keep all your savings in bank no.2 and do not touch it at all and rest amount for expenditure in bank no.1. Now once you make a good amount of savings try out all possible ways to invest them taking calculated risk to increase your profit.
So, I would like to dedicate this post to all my readers and followers as i have done a lot of study and research work in writing this post. I also consulted every possible ways so that people get full assistance from here and can also put their head in understanding their income and expense, make plans to invest and save good amount of money by making it sure they get full tax benefit also. It is always said that "Spending money is easy but earning is difficult, and its even more difficult to save it".
Bible says,"The borrowers are the servant of the lenders", this is what we all know and believe and hence this is what our approach has become when we play role either as a borrower or as a lender. I am writing this post for my readers to help them get out of their bad debts, with readers I mean here my borrower friends.
Bible also says,"Owe no man anything except love", love is all that we are supposed to owe as we have debt of love. As we can understand that we should not be in debt as it is nothing but a bondage. But bible has given a very good reason as well as for having debt except love. It says, "we have debt because we want everything "now" which is our"lust". Our intense desire for achieving anything is pushing us deep and deep inside debt. So it is a trap where we are getting indulged day by day by wanting too much at a time. And on the other hand it also says "Ignorance is never bliss". So never ignore your burden of debt even if you have to face the uncomfortable truth.
We all have heard this, "No problem exists on earth without a solution". So, do not worry and be assure that if debt is a problem you are facing, you have a solution or rather ways to come out of it. You must be Thinking how it can be achieved? Read these points carefully and I am sure at the end you will get all your querries answered.
i) Jesus said "Know what you have and use it" so here he has actually asked us to use law of compound interest combined with the law of use, which means use what you have properly or else that can also be taken back from you.
ii) "Give and it will be given back to you" this principle GOD has put through his words. Share whatever is there with you and you will surely get good return out of it.
iii) Spend money in places where you can keep constant check so that at the end you know where all your money went.
iv) Do whatever is possible "loyally" to increase your income.
v) "Pray", because with God anything is possible.
So, i suggest all my readers to try these out and let people ask you after couple of years "How did you get to manage so much money?" and the answer will be "Well, it was easy because I followed the laws of God."
