The happenings "inside" the Wisconsin State Treasury and across the street at the State Capitol

Unclaimed Property

Wisconsin Saves Fun Tip: Create Your Budget


 

Small Logo CroppedThe Wisconsin Office of the State Treasurer proudly teams up with WWBIC (Wisconsin’s Womens Business Initiative Corporation) for “Wisconsin Saves.” Each week, we will share with you a savings courtesy of WWBIC. Now that we’ve armed with 5 Strategies to Save Money, it’s a great time to examineWWBIC CREATING A BUDGET!  Here’s how:

Create Your BudgetNow you know where your money is actually going. But is it going where it should? Create a budget that you can stick to. Look at places you can cut back in order to pay down high-interest debt and save. Not sure where your money should be going? Check out our Budget Worksheet.


Treasurer’s Top 5: Marinette County


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This week, we travel to Marinette County.  Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know?  If so, have check out  www.wismissingmoney.com and search their name to make a claim.  They can also call 855-375-CASH (2274)

Marinette County

John Tiede

Jean and Elmer Billings

Susan Weiss

Albert R Stevens

Brian Stevens


FAQ Unclaimed Property: Who Administers The Law?


WHO ADMINISTERS THE LAW?

The Wisconsin State Treasurer serves as custodian of the property on behalf of the owner.

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Treasurer’s Top 5: Marathon County


Marathon County

This week, we travel to Marathon County.  Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know?  If so, have check out  www.wismissingmoney.com and search their name to make a claim.  They can also call 855-375-CASH (2274)

Marathon County

Kenneth and Violet Walesh

Shirley M Wimmer

Louis Wydener

Marion Pacetti

Randy H Janing


Treasurer’s Top 5: Menominee County


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This week, we travel to Menominee County.  Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know?  If so, have check out  www.wismissingmoney.com and search their name to make a claim.  They can also call 855-375-CASH (2274)

Menominee County

Francis Hendricks

Atlee A Dodge

Mary E Dodge

Lawrence E Lynch

Esther Herrick


FAQ Unclaimed Property: What Is Unclaimed Property?


WHAT IS UNCLAIMED PROPERTY?

Generally, any financial asset that has had no activity by its owner for a period of 1 year or more. This includes savings accounts, checking accounts, uncashed dividends, stocks, customer deposits or overpayments, certificates of deposit, credit balances, refunds, matured life insurance policies and uncashed death benefit checks. The law also requires that utility deposits, unclaimed wages and property resulting from business dissolutions be reported as unclaimed property after one year of inactivity. The Unclaimed Property Act does not include real estate.

 

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Treasurer’s Top 5: Marquette County


marquette county

This week, we travel to Marquette County.  Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know?  If so, have check out  www.wismissingmoney.com and search their name to make a claim.  They can also call 855-375-CASH (2274)

Marquette County

Robert Maurice Schurgers

Esther and Adam Ortiz

Marie Whiting

Pearl Zavala

Cleon Cooke III


How Much Do Americans Spend on St. Patricks Day?


St. Patrick's Day

In 2013, Americans spent a total of $4.7 billion dollars on St. Patrick’s Day. Of course, not every shopper plans to budget the same way. Who buys and what is bought directly relates to how big—or small—a celebrant’s budget will be.

Our friends at U.S. News and World Report say Men spend the most. Men may not spend a majority of consumer dollars, but when they reach for their wallets, they go big. Compared to any other consumer demographic looking to make a purchase for St. Patrick’s Day this year, men have the biggest budget, with an average planned expense of about $45. Women, on the other hand, are only looking to spend around $32.

Young spenders, big spenders. Next to men, young adults take second place as consumers with the lightest wallets after St. Patrick’s Day. Those aged 25 to 34 plan on grabbing a little less than $45 in clothing, food and decorations.

May you find your pot of gold at the end of the Rainbow… by searching our database for your MISSING MONEY on this St. Patrick’s Day at www.wismissingmoney.org.

CLICK HERE for full article.


FAQ Unclaimed Property: Why Does Wisconsin Have An Unclaimed Property Law?


OST Design large sealWHY DOES WISCONSIN HAVE AN UNCLAIMED PROPERTY LAW?

The law was enacted in 1970 to enable Wisconsin residents to search in one place for missing funds.  After 1 to 5 years of inactivity Wisconsin businesses are mandated to turn over all unclaimed money, stock, and safe deposit box contents to the State Treasurer’s Office.  This process relieves businesses from the expense and liability associated with carrying unclaimed property on their financial records.  Most importantly, the process benefits Wisconsin residents because the State Treasurer’s Office makes an active effort to reunite all rightful owners with their unclaimed property.


FAQ Unclaimed Property: How Does Property Become Unclaimed?


HOW DOES PROPERTY BECOME UNCLAIMED?

Property becomes unclaimed or abandoned when there has been no owner activity in relation to the account for a period of 5 years and when the owner has not been able to be contacted by the holder of that asset. A holder may include a bank, savings institution, credit union, insurance company, business or utility company.

CLICK HERE for more information.

 OST Design large seal


FAQ Unclaimed Property: What Is Unclaimed Property?


WHAT IS UNCLAIMED PROPERTY?

Generally, any financial asset that has had no activity by its owner for a period of 1 year or more. This includes savings accounts, checking accounts, uncashed dividends, stocks, customer deposits or overpayments, certificates of deposit, credit balances, refunds, matured life insurance policies and uncashed death benefit checks. The law also requires that utility deposits, unclaimed wages and property resulting from business dissolutions be reported as unclaimed property after one year of inactivity. The Unclaimed Property Act does not include real estate.

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Treasurer’s Top 5: Manitowoc County


Manitowoc

This week, we travel to Manitowoc County.  Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know?  If so, have check out  www.wismissingmoney.com and search their name to make a claim.  They can also call 855-375-CASH (2274)

Manitowoc County

Kenneth and Violet Walesh

Shirley M Wimmer

Louis Wydener

Marion Pacetti

Randy H Janing


FAQ Unclaimed Property: Why Does Wisconsin Have An UP Law?


WHY DOES WISCONSIN HAVE AN UNCLAIMED PROPERTY LAW?

The law was enacted in 1970 to enable Wisconsin residents to search in one place for missing funds.  After 1 to 5 years of inactivity Wisconsin businesses are mandated to turn over all unclaimed money, stock, and safe deposit box contents to the State Treasurer’s Office.  This process relieves businesses from the expense and liability associated with carrying unclaimed property on their financial records.  Most importantly, the process benefits Wisconsin residents because the State Treasurer’s Office makes an active effort to reunite all rightful owners with their unclaimed property.

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Wisconsin Saves Fun Tip: Stick to Your Budget


Small Logo CroppedThe Wisconsin Office of the State Treasurer proudly teams up with WWBIC (Wisconsin’s Womens Business Initiative Corporation) for “Wisconsin Saves.” Each week, we will share with you a savings courtesy of WWBIC. In January,  we armed with 5 Strategies to Save Money.  All this month, we’veWWBIC showed   you how to create a budget.  Now, it’s time to stick to it! 

Here’s How to Stick to Your Budget 

Putting together a budget is easy: the harder part is sticking to it. The key to this is to go back to step one and keep track of your spending. Each week, check your finances to make sure you are staying within your budget. You can do this by using a cash, or envelope system. You can also keep track with a software program, or you can simply use pen and paper to keep track of your spending.

No matter how you do it, it’s important to find a system that works for you and stick to it.


Treasurer’s Top 5: Lincoln County


Lincoln County courtesty Merrill Chamber of Commerce

This week, we travel to Lincoln County.  Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know?  If so, have check out  www.wismissingmoney.com and search their name to make a claim.  They can also call 855-375-CASH (2274)

Lincoln County

Interestate Trucking Group

Charles Smith, Jr.

Paul Desmond Ross

John B Meyer

Arlene Pierce


Treasurer’s Top 5: Langlade County


Langlade County

This week, we travel to Langlade County.  Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know?  If so, have check out  www.wismissingmoney.com and search their name to make a claim.  They can also call 855-375-CASH (2274)

Langlade County

Jean Kieffer

Judith Lee Taylor

Wisconsin Ore Processing, Inc.

Ruben and Gabriel Bello

Adger Agronomy, LLC


FAQ Unclaimed Property: How Does Unclaimed Property Become Unclaimed?


HOW DOES PROPERTY BECOME UNCLAIMED?

Property becomes unclaimed or abandoned when there has been no owner activity in relation to the account for a period of 5 years and when the owner has not been able to be contacted by the holder of that asset. A holder may include a bank, savings institution, credit union, insurance company, business or utility company.

OST Design large seal


Treasurer’s Top 5: Langlade County


Langlade County

This week, we travel to Langlade County.  Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know?  If so, have check out  www.wismissingmoney.com and search their name to make a claim.  They can also call 855-375-CASH (2274)

Langlade County

Jean Kieffer

Judith Lee Taylor

Wisconsin Ore Processing, Inc.

Ruben and Gabriel Bello

Adger Agronomy, LLC


FAQ Unclaimed Property: How Does Property Become Unclaimed?


HOW DOES PROPERTY BECOME UNCLAIMED?

Property becomes unclaimed or abandoned when there has been no owner activity in relation to the account for a period of 5 years and when the owner has not been able to be contacted by the holder of that asset. A holder may include a bank, savings institution, credit union, insurance company, business or utility company.

OST Design large seal


Treasurer’s Top 5: Lafayette County


Lafayette County

This week, we travel to Lafayette County.  Here’s a look at the Top 5 people and businesses there with unclaimed assets. Do you see anyone on this list you know?  If so, have check out  www.wismissingmoney.com and search their name to make a claim.  They can also call 855-375-CASH (2274)

Lafayette County

Jean Kieffer

Judith Lee Taylor

Wisconsin Ore Processing, Inc.

Ruben and Gabriel Bello

Adger Agronomy, LLC


Money Matters: Resources for Getting Out of Debt


We’ve committed most of the month of January to helping you get your fiscal house in order by GETTING OUT OF DEBT!

Our friends at www.practicalmoneyskills.com provided to us a useful list of resources outside our blog series to help you get out of debt in 2014.  Please also find some useful tools by perusing our website:  www.wismissingmoney.org.

For budgeting information or debt counseling at little or no cost, contact any of the following nonprofit organizations:

                                                                           American Consumer Credit Counselingsurprise-money1
24 Crescent St.
Waltam, MA 02154
Phone: 781-647-3377
Website: www.consumercredit.com

<!–Debt Counselors of America
Phone: 800-680-3328
Website: http://www.dca.org
Money Management International
9009 West Loop South, 7th Floor
Houston, TX 77096-1719
Phone: 888-845-5669
Website: www.moneymanagement.org

–>

National Foundation for Credit Counseling
2000 M Street
NW Suite 505
Washington, DC 20036
Phone: 800-388-2227
Website: www.nfcc.org

As the nation’s largest financial counseling organization, the NFCC Member Agency Network includes more than 700 community-based offices located in all 50 states and Puerto Rico. More than 3 million consumers annually receive financial counseling and education from NFCC Member Agencies in person, over the phone, or online. To locate an NFCC Member Agency in your area call 800-388-2227. Para ayuda en Español Ilama al 800-682-9832.


FAQ Unclaimed Property: What Does the State Do to Find Owners of Unclaimed Property?


   The State Treasurer’s Office uses a variety of methods to locate unclaimed property owners. The Office of the State Treasurer OST Design large sealhas annual advertisements in newspapers throughout the state, cross-references the names of unclaimed property owners with public record information. The State Treasurer and his staff also attend public events, such as the Wisconsin State Fair to raise awareness for those that may have Unclaimed Property and help people make a claim if they find their names on the database.

Related articles

Dr. Martin Luther King Day


dr. king

Dr. Martin Luther King, Jr. led the trend of non-violent activism during the civil rights movement.  He was quite successful in prompting changes in both Federal and State laws.  King was not honred with this day until after his 1968 assassination.  It was President Ronald Reagan who signed this holiday into law15 years later in 1983.  It was not observed until a few years after that.  The Wisconsin Office of the State Treasuer honors Dr. King today and all that he did for all people in our United States of America and the great state of Wisconsin.

Kurt Schuller, Wisconsin State Treasuer


Money Matters: What Is YOUR Debt Load?


NOT buying a house

Debt Load

Last week, we talked about getting out of Debt.  How can you really do that if you don’t understand your “Debt Load?”  Our friends at www.practicalmoneyskills.com provide a guide.  Are you out of your debt comfort zone? Does it seem as though you’re paying too much to bill collectors and not enough for savings and the things you enjoy in life? If so, it’s a good idea to figure out just how much debt you have and compare that to how much you earn. This will give you clear understanding of your financial health.  For online article, CLICK HERE.

Debt Load
The first step is to calculate your debt load. This is the sum total of all the money you owe:

  • Mortgage
  • Student Loans
  • Credit Cards
  • Even loans from friends and family.

Debt/Income Ratio
Once you have your debt load figured out, you’ll want to know just how big of a burden it is. You can do this the way banks and creditors do, by calculating your debt/income ratio – the amount you owe compared to the amount you earn. It’s easy:

  1. Calculate all your monthly debt payments – including credit cards, mortgage and child support. (If you don’t have fixed monthly payments, you can estimate your monthly payments at 4 percent of the total amount you owe.)
  2. Take your gross annual wages and divide them by 12. That’s your monthly income.
  3. Take your monthly payments total and divide it by your monthly income.
  4. Move the decimal point two digits to the right to make it a percentage. That’s your debt/income ratio.

Here’s an example. Let’s say your monthly income is $2,000 and your monthly payments on your debt load totals $500. If you divide 500 by 2,000 you get .25. Move the decimal point two places to the right and you get 25% as your debt/income ratio.

How much is too much?
Only you can know for sure how much debt is too much. If you’re feeling a financial squeeze every month because of credit card bills, you don’t need anyone to tell you you’re out of your debt comfort zone – you know.

But as a general rule of thumb, a debt/income ratio of 10 % or less is outstanding. If it’s between 10 – 20 %, your credit is good, and you can probably borrow more.

But once you hit 20 % or above, it’s time to take a serious look at your debt load. Creditors will be less likely to give a loan to someone with such a high debt/income ratio, and those that do will probably charge higher interest.

Worse, if you have a debt/income ratio above 20 %, chances are you’ll feel a strain on your budget.

The 28/36 Rule
Another helpful guide is one mortgage lenders use: the “28/36 rule.” It stipulates that your debt shouldn’t exceed 28% of your gross monthly income, while your total debt service – including your house payments and utilities – shouldn’t be more than 36 percent.

Mortgage companies will also compare debt load to annual income. They’ll typically loan up to three times what a person makes in a year. So if a home buyer earns $30,000, they might qualify for a $90,000 mortgage.

 

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