Today’s Money Monday comes from my friend, Jill Russo Foster of Cash, Credit and Your Finances.
We’ve all seen movies involving some sudden financial windfall. Maybe the character received an inheritance from an uncle he barely knew, or maybe his investment finally paid off. How did our lucky movie character find out about his good fortune? Someone knocked on his door, or he received a notarized letter. In other words, the money came looking for him.
You probably think you could never be that lucky, and you would be partly right. Yes, there might be money out there waiting for you, but no one’s going to tell you about it. You need to look for yourself at www.unclaimed.org.
It happened to me. I inherited a few shares of stock years ago. They were worthless at the time, because they weren’t paying dividends. I felt it was the thought that counted and I completely forgot about the stocks themselves. At some point, unbeknownst to me, the shares regained some of their value, and eventually those funds were turned over to the state as unclaimed money! After finding the stocks under my name, I completed the paperwork and sent it in. After a nine month wait, I received a check in the mail. Pennies from heaven!
Ever since I found money in my name, I periodically check for unclaimed money for myself and family members. I’ve found a life insurance policy for my grandmother and money that belongs to my father. You never know what you will find.
If you think it can’t happen to you, consider these possibilities:
- Unused traveler’s checks
- Rental security deposits
- Utility account overpayments
- Old bank account
- Uncashed checks
- Estate proceeds
- Savings bonds
How could you not know about this money? Easy. You may have moved without updating your address at your old utility company. Or, the estate proceeds check may have gone to an old address. And, you’ve probably forgotten about the little savings account you opened at the bank near your parent’s house. It happens.
When you have a few minutes and are on the internet, you may want to check for yourself at www.unclaimed.org. If your name is on the list, you’ll need to follow the instructions to learn where the money came from and if it’s really yours. Remember to check out each and every state you have lived in. I can’t say this enough – THERE SHOULD NOT BE A FEE INVOLVED IN THIS PROCESS. This literally is free money. Let me know what you found.
Jill Russo Foster is the author of Cash, Credit, and Your Finances: The Teen Years. She provides practical tips for every day finances. Learn more about protecting your credit and living within your means, with Jill’s popular free reports and bi-monthly ezine, available here ==> CashCreditandYourFinances.com
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