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.
The 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 examine CREATING A BUDGET! Here’s how:
Do you know exactly where all of your money goes each month? Do you know how much money you have left to spend this month? Are you saving towards an emergency fund each month? If you answered -NO – to any of these it may be time to get your finances in order.
The first step to saving more efficiently is to keep track of what you spend and budget. There are many different ways to do this, try a few out and choose the system that works best for you. The key to saving more successfully is to find a system that works for you and to stick with it.
Keep Track of What you Spend
We pay for the items we need in many different ways – we spend cash, credit, debit, and we even auto-pay bills. It’s important to have a system in place to capture all this spending.
Luckily, there are digital tools to help you keep track of your spending. Look for free tools that will group all your spending in one place. Take a look at a couple months of spending. Total up everything you spent and divide your spending into large categories –housing, food, utilities, entertainment, shopping, savings, and everything else. Click here for a sample budget worksheet.
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)
Judith Lee Taylor
Wisconsin Ore Processing, Inc.
Ruben and Gabriel Bello
Adger Agronomy, LLC
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 Counseling
24 Crescent St.
Waltam, MA 02154
<!–Debt Counselors of America
Money Management International
9009 West Loop South, 7th Floor
Houston, TX 77096-1719
National Foundation for Credit Counseling
2000 M Street
NW Suite 505
Washington, DC 20036
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.
The State Treasurer’s Office uses a variety of methods to locate unclaimed property owners. The Office of the State Treasurer has 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.
- FAQ: What is “Unclaimed Property” (wistatetreasury.wordpress.com)
- FAQ: I sent my claim form in quite a while ago. Why haven’t I received anything yet? (wistatetreasury.wordpress.com)
- Unpaid Insurance Claims Could Flood Unclaimed Property Coffers (wistatetreasury.wordpress.com)
- Wisconsin Veterans to Receive More Than $76,000 in Unclaimed Assets (wistatetreasury.wordpress.com)