The Bottom Line
Small business is important to Central Oregon, and to Mid Oregon. Find tips and resources for business, and information about Mid Oregon’s commercial services and business members.
Guzzle Less
How to deal with rising gas prices this summer
By Chris O’Shea* According to AAA, the average price of gas is just over $3 per gallon. That’s up from an average of $1.9 per gallon at the same time last year. With summer travel ramping up, the demand for gas is only increasing. What does all of this mean? It’s time to plan for soaring gas prices during your summer excursions. Here’s how to do that.
Use tech
One of the easiest ways to find cheap gas is to use an app. There are many gas apps to choose from, like Gas Buddy or Gas Guru. These apps will show you where the cheapest gas is located and other helpful tips, like stations that are completely out of fuel.
Shop around
This might seem obvious, but don’t go to the first gas station you see. Roll by a few local stations and make some notes of which station typically has the lowest prices. Stations close to each other often engage in small price battles that could end up saving you cash at the pump.
Mind the border
There are some states that usually have higher gas prices than other states, so be mindful of that as you travel. As US News reports, California, Pennsylvania and Illinois are known for having high gas prices. On the other hand, Texas, Louisiana and Mississippi are known for having low gas prices.
Be efficient
Practice ways to lower your overall fuel consumption. That means carpooling or taking public transportation when possible, or driving when traffic isn’t bad so you don’t idle and waste fuel. If you’re financially able, consider buying an electric vehicle or a hybrid. Every small change to your fuel habits can lead to savings in the long run.
*This guest article is from the “Your Money Blog” in ‘Mid Oregon’s Digital Banking Credit Savvy resource.’ It is made possible by Savvy Money. “Guzzle Less” by Chris O’Shea was published in July 2021.
How to Avoid Apple App Scams
Fake apps are an ongoing problem for the Apple App Store. With nearly 1.8 million apps in their store, Apple estimates it makes approximately $65 billion a year from the apps. They have a dedicated Discovery Fraud Team and technology to keep scam apps out. But, fraudsters still find a way of sneaking in. A Washington Post report found that out of Apple’s 1,000 highest-grossing apps, nearly 2% are some type of scam. Many fake apps can deliver malware to a device, but others are just looking to make a quick buck with financial scams.
Apple insists they take great strides to keep infected apps out of their store, saying that in 2020, they removed over 400,000 apps from their store for assorted reasons. But for those who have fallen victim to these fake apps, the company didn’t go far enough. According to Appfigures research, fraudulent apps cost users an estimated $48 million last year. That’s a hefty price tag for app lovers to pay, but there are ways to avoid downloading the next scam app.
What Apple app scams look like
The road to downloading a safe app can be challenging, but not hopeless. You should never sideload apps, which is downloading apps from other sites other than the official app stores. Many bogus apps misuse company names for cover, taking a closer look at the app title can be revealing.
For example, Samsung TV owners can go to Apple’s App Store and download the SmartThings remote control app. One security researcher did just that and came across an app called Smart Things. After paying $19 for the Smart Things app, you will discover you’ve just been scammed. The difference between the two? The scam app has a space separating both words. One added or deleted space is sometimes all it takes to fall prey to sneaky fraudsters.
Messing with app names is very similar to typosquatting, also called URL or domain hijacking, when a bad actor misspells a domain name to get traffic to their website. The same is done with apps. As the example above shows, scam apps can hide in plain sight.
The devil is in the details
Scrutinizing app names for subtle differences is a proven way to protect yourself from copycat app scams. Relying on app reviews for legitimacy is risky business since they too can be faked. Scammers count on users not checking name details, allowing them to typosquat app names to their advantage. Check and double check app spellings, looking for typos, strange spacing, misspellings, and more.
For more articles on phishing scams, cybersecurity and related topics, visit Mid Oregon’s Security and Fraud Center.
Signs from Cards
Signs you should curb your credit card usage
By Chris O’Shea* Credit cards are helpful in many ways. But if they’re used incorrectly, they can become quite the burden. Here are some signs that you should be curbing your credit card usage.
Your budget is busted
Keeping a detailed budget is key to financial health. If you use a budget, you’ll have a section for paying off your credit card in full, every month. Paying your bills on time (even if you don’t pay them in full) in turn helps your credit.
However, if you don’t stick to a budget, or never even bothered to create one, you should be wary of using credit cards. If you don’t have any idea about monthly expenses, it’s way too easy to simply reach for your credit card to pay for something. Then, when the end of the month comes and the bill is due, surprise! You don’t have enough in your bank accounts to pay the balance. Now you’re looking at interest charges. It’s a cycle you don’t want to begin or continue. Create and stick to a budget so that when you do use your cards, you’ll be able to pay them off every month.
Your spending is off the rails
As USA Today notes, if you’re spending more than you should be, it’s time to press pause on your credit card usage. The best way to know if you’re spending too much? That budget we just mentioned. If you’re spending too much, dive into your budget and see where things are going wrong.
You’re deep in debt
It’s hard to climb out of credit card debt if you keep using your cards. If you’re only making minimum payments on your balance each month, the interest piles up quickly. Instead of continuing to add to the problem, craft a plan to dig out of the debt. Remove your cards from your phone and computer. Put them in the freezer. Whatever you have to do to stop using them while you pay down the debt.
*This guest article is from the “Your Money Blog” in ‘Mid Oregon’s Digital Banking Credit Savvy resource.’ It is made possible by Savvy Money. “Signs from Cards” by Chris O’Shea was published in July 2021.