Protecting Your Identity – Personal Financial Goals 1 of 6
We are going to use the second month of the year to delve into some personal and family financial goals. We thought it best to start at square one…protecting your identity. Hardly a day goes by on the news that we don’t hear about a new breach in financial security. Although you can’t protect yourself from all of the pitfalls, you can definitely guard yourself against the basics.
Dispose Of Documents Properly – Protecting Your Identity
This one is easy. The key is not to get lazy. First of all, I know it takse me a solid hour to go through my mail every few weeks. So many credit card offers and statements come our way. I take the time to sort out the things that can be recycled (unused envelopes, blank envelopes, advertisements) and the MANY things that need to be shredded. Shredding includes bills, statements, anything with my name and address or parts of account numbers or my social security number. This adds up to a HUGE amount of paper that needs to be shredded and disposed of. My favorite solution to this 6 months out of the year (in Michigan) is to have a bonfire! If that isn’t realistic for you, make sure to invest in a cross cut shredder and throw out the scraps in non-transparent bags.
Shop Securely – Protecting Your Identity
Make sure to use safe websites when shopping and even browsing online. When a website comes up, make sure you see the word secure on the left side of the web address in the search bar. If not look for https before the web address. That “s” stands for secure. We also recommend carrying cash to use in places where someone takes and holds your card. This includes starting a tab at a bar or any time someone “takes” your card away from you to charge you.
Stay Organized – Protecting Your Identity
Staying organized is an often overlooked and easy way to protect yourself. Most of all, you should know where your identification, tax documents, bills, extra checking books and important information are kept. Losing track of this type of documentation is an easy way to put yourself at risk. Therefore, these documents are best kept in a fire proof safe, but at the very least a cabinet with a key.
In addition, I would also recommend knowing your credit score, or at least monitoring your inquiries and accounts. Many credit cards offer this service for free now. I check mine at least once every few months. You are also entitled to one free credit report each year from each of the three credit bureaus. Access these by going to www.annualcreditreport.com and setting up an account. There are services you can pay for to protect your identity as well. A quick Google search will turn up many options.
In closing, devote a small amount of time to these initiatives each month and rest easy that you are an unlikely target for this kind of trouble!
