Are you concerned about young people’s spending habits?

An esteemed psychologist has issued a warning against girls and young women watching “haul videos.” A haul video is an Internet-posted video of a shopping spree. The “vlogger” (video blogger) reports every detail of her purchases. Sounds harmless? Apparently not. “The most popular hauls have been viewed by staggering numbers of people, even into the millions,” reports Dr. April Benson, an expert on shopping addiction. “Some of the vloggers are getting addicted to making these videos. At least one 16-year-old is currently being home schooled to allow her more time to haul more stuff, and the 7-year-old sister of another vlogger is taking an early lead in mesmerizing second-grade fashionistas. Retailers are enabling the most popular vloggers by sending them merchandise to review or giving them gift cards as compensation for showcasing their products.”


You may think your child’s shopaholism and “haul videos’ are cute. You may change your mind if you find out she can’t stop spending your money and now the world knows it before you do.

Shopping addiction specialist April Benson, Ph.D fears that, “Both the makers and the watchers of haul videos are buying into the dark, destructive, and deeply false message these videos embody: that whoever said money can't buy happiness just didn't know where to shop.” She tells how, in her book To Buy or Not to Buy: Why We Overshop and How to Stop, to demagnetize the pull to shop. The pull comes from six powerful magnets: malls and stand-alone stores, internet shopping, television commercials, television shopping channels, catalogs, and magazines.

Parents need to keep an eye on their daughters’ shopping habits. Don’t just drop the girls off at the mall to entertain themselves with their friends. It’s not a safe place for them economically or socially. It’s not easy these days, but you need to control what your children watch on television. Monitor what they look at and post online. Don’t have catalogs and shopping-oriented magazines in the house. As a result of your concern and vigilance, your child will perform better in school and handle their money better in life.

Studies indicate that the 50 million young adults in our country tend to be more optimistic about the economy than their parents. They are confident, upbeat, civic-minded, and open to change. A Pew Research Center study says that the Millennial Generation Y (currently teens and twenty-somethings) will also be the most educated generation in American history.

Unfortunately, nearly one third of people in their 20s and 30s are receiving financial support from their family and friends. College loans are partly to blame. While Americans have been trimming their credit card debt, students have been borrowing more than ever. Why? For several reasons. One reason is that college costs have increased more than 25%. Another reason is that students’ expectations and financial training need to be brought in line with reality. Amazingly, total student loan debt now exceeds credit card debt, with more than $850 billion outstanding. Students need to weigh their loans carefully and learn how to handle their money. Their future depends on it.

Heidi Clingen is a long-time resident of Stevenson Ranch. She and Samuel K. Freshman are authors of The Smartest Way™ to Save, Why You Can’t Hang on to Money and What to Do About It. They offer only their opinion, which does not constitute professional, financial, or legal advice. To receive a copy of The Principles of Financial Independence or submit questions, email them at Heidi@TheSmartestWay.com

How to Guard Your Identity at Home

When you are in your home, your “castle,” it is easy to feel safe from intruders who might disrupt your security by stealing your identity. Unfortunately, vigilance is required 24/7 to guard against identity theft no matter where you are. Here are some steps you can take to guard your identity while at home:

Use a shredder

After you finish examining your monthly billing statement, destroy them in a shredder. Many sizes and types of shredders are available at office supply stores. They are not very expensive and are worth the peace of mind. The best shredders cut paper in a cross pattern, rather than in narrow strips. They are called "cross shredders."

Shred, do not toss, every document that contains your name, address and any of your personal information on it. This includes credit card applications, charge slips, deposit slips, financial statements, old credit cards, checks, and receipts.

Follow these easy steps and you will not be an "easy target" for identity thieves who search through trash.

Guard your mail

Place your outgoing mail in a locked post office box or take it directly to the post office. Make sure that it is not obvious if a check is enclosed. Retrieve your incoming mail as soon as possible. If you move, notify your credit card issuers in advance of your change of address. Know when your billing statements are due. Thieves can request a change of address for your card and run up charges before you realize it.

Use tamper-resistant checks

Purchase tamper-resistant checks from a reputable printer. Do not put your driver's license number or Social Security number on your checks or allow a retailer to write them on the check. Carry checks only when you need them. Store new and cancelled checks safely. When writing checks, use a permanent gel ink that cannot be washed off. One such pen is Uniball Vision Elite. Make sure all gaps are filled in so the amount cannot be altered. Never sign a blank check or credit card receipt.
Get off marketing lists

Remove your name from marketing lists. The Direct Marketing Association (DMA) notifies its members that they must remove your name from the lists they sell for five years. Go to www.dmaconsumers.org. To reduce the amount of unsolicited mail and catalogs and phone calls from marketers, you can "opt out" by accessing www.worldprivacyforum.org/toptenoptout.html.

File complaint reports

Report suspicious activity to the Federal Trade Commission (FTC). Forward the original scam email to www.ftc.gov/spam. If you believe that you have been the victim of a scam, file your complaint at www.ftc.gov.

Check your credit report

You are entitled to a free copy of your credit reports every six months from each of the three major credit bureaus. Contact www.annualcreditreport.com. If you use other websites, you may be charged. When you get your report, check it carefully. A recent study found 25% of reports contained serious errors. Contact the credit bureau and clear up the error. Consider signing up at www.lifelock.com.

If you are concerned that your identity may have been stolen, you can put a security freeze on your credit reports. This prevents anyone from viewing your credit report. For the latest rules, see www.financialprivacynow.org.

Get more information

If you think that you have found a scam, check it out on www.snopes.com. The website reports on the latest scams that are being circulated. On the Internet, go to:

• www.ftc.gov/consumers/consumer/alerts/phishing.html for more information on phishing scams,

• www.ftc.gov/bcp/conline/pubs/credit/idtheft.htm for more information on identity theft,

• www.usps.com/postalinspectors for the U.S. Postal Inspections Service, and

• www.usdoj.gov/criminal/fraud/idtheft.html for the U.S. Justice fraud department.

Heidi Clingen is a long-time resident of Stevenson Ranch. She and Samuel K. Freshman are authors of The Smartest Way™ to Save, Why You Can’t Hang on to Money and What to Do About It. They offer only their opinion, which does not constitute professional, financial, or legal advice. To receive a copy of The Principles of Financial Independence or submit questions, email them at 2heidi@allwaritey.com