Simplify Bookkeeping and Consulting Services

💡 Fraud Awareness Fridays: The Direct Deposit Scam

Fraud is on the rise, so some Fridays I’m sharing a real story and a simple control that could stop it.

This week: Direct Deposit Fraud.

A fraudster hacks an employee’s email and sends a message to the business owner - complete with a real-looking void check (has employee's name and address on void check) asking to “update” their bank account.

The owner, trying to help, makes the change.

On payday, the real employee checks their account… and the deposit never arrives.

The request wasn’t from them, the employee had been hacked.

💬 Lesson: The company now has a control in place - no bank account updates without a phone confirmation.

It’s a small step that prevents big losses.

Stay tuned for the next Fraud Friday - because awareness is our best defense.

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🎄 Let’s Bring Back the Christmas Club

Did you know that back in the 1970s, many people used something called a Christmas Club Savings Account? It was a simple idea: you’d make small weekly deposits throughout the year, and then in November, the bank would send you a check just in time for your Christmas shopping. No stress, no debt, no post-holiday credit card blues.

Unfortunately, that tradition has faded away. Instead, we’ve replaced it with something far less cheerful: credit card debt. What a terrible gift to give yourself and your family.

But who says we can’t bring the Christmas Club back?

You can easily recreate it today with an online savings account. Open an account with your bank or a platform like Tangerine, and label it “Christmas.” Set a savings goal and schedule automatic transfers from your paycheck.

When I started, I set aside just $50 per paycheck. By the time Christmas rolled around, I had $600 — enough for my tree, turkey, and gifts, all without a single credit card swipe.

It’s a simple, old-fashioned idea that still works beautifully today. Let’s bring it back and give ourselves the gift of a debt-free Christmas. 🎁✨