Avoiding Identity Theft

My husband and I received a notice last week from our credit union. It was hardly pleasant. We were informed via an automated call that our debit cards to both of our checking accounts had been cancelled. A retailer's (the bank wouldn't say who) data storage had been compromised and our debit cards numbers were part of the exposed/hacked information. So far, we haven't noticed anyone trying to use our information. But that piqued my interest in the best ways to avoid identity theft. Here are some really great tips! By the way, have you ever been subject to id theft? How did it happen? Be sure to vote! >>>>>>>>>>

Also, check out my other blog "Tax Tips" at http://your-taxes-tax-tips.blogspot.com/ to prepare for April 15th!


Identity Theft Protection Tips

• Check financial statements promptly. Always review your monthly banking, brokerage, and credit-card statements for accuracy. Report problems immediately.

• Watch your credit. Order copies of your credit report every year from each of the three major credit reporting agencies. They are: Equifax, 800-997-2493; TransUnion, 800-888-4213; and Experian, 888-397-3742. Report errors promptly and in writing.

(Would you like to drastically increase your credit score? Click Here!)

• Be stingy with information. Never disclose your Social Security number, birth date, or mother's maiden name unless you initiated the transaction. On paper documents, don't include such data unless required to do so on an official application for employment, financing, or insurance. (Ask employers, schools, and financial institutions to offer alternatives.) Never put such information on personal Web pages or publicly posted résumés or directories.

• Just say no. Consider “opting out” of information-sharing at your financial institutions. (Check your company's financial privacy notice, which is mailed annually and usually posted on company Web sites, to find out how.) Also opt out of pre-approved credit offers by calling the Credit Reporting Industry Pre-Screening Opt-Out Number at 1-888-5-OPTOUT (888-567-8688).

• Travel light. Don't carry ID that contains sensitive data like your Social Security number unless absolutely necessary.

• Lock it up. Safeguard your driver's license and other government ID at all times. Lock desks, cabinets, and safes containing such information in your office and home.

• Shred and destroy. Before throwing out files containing Social Security numbers, account numbers, and birth dates, shred them with a cross-cut shredder. Destroy CDs or floppy disks containing sensitive data by shredding, cutting, or breaking them. Use hard-drive shredding software or remove and destroy your hard drive before discarding a computer. Just deleting files isn't enough.

• Guard mail. Consider using a locked mailbox or slot to receive mail at home. Deposit mail in postal mailboxes or in the post office to discourage mail theft.

• Keep your eye on the prize. Try not to let waiters, sales clerks, or gas-station attendants disappear from view with your credit or debit card, to avoid “skimming.” Crooks can use a handheld card reader to copy the information from your card's magnetic strip.

• Beware of strange ATMs. Avoid using private or strange-looking automated teller machines, because they may be rigged to skim data off your card's magnetic strip. Six- or seven-character PINs (personal identification numbers) are harder to crack than shorter ones, but you may not be able to use them at machines abroad.

• No surfing allowed. Watch out for “shoulder surfers” when using pay phones or public Internet access; use your free hand to shield the keypad. Don't use cordless phones to conduct sensitive financial or medical business, because eavesdroppers on other phones and those using eavesdropping equipment may be able to overhear your conversations.

• Build a wall. Install firewalls and virus-detection software on your home computers to discourage hackers.

• Log off. Quit your browser and log off after using public Internet-access computers in libraries, Internet cafes, and the like. Don't pay bills, bank, or conduct other financial transactions on public computers. If you have a high-speed Internet connection at home, unplug the computer's cable or phone line when you are not using it to discourage hackers.

• Deal only with reputable Web sites. Check privacy and security policies of Web sites before making purchases, trading stocks, or banking online. A professional-looking Web site is no guarantee of security. Don't respond to unsolicited e-mail requests for personal information.

• Get complicated. Consider password-protecting all your bank and brokerage accounts. Create passwords at least eight characters long.

• Check your workplace. Ask how your employer safeguards employee records. Request that Social Security numbers not be used as employee ID numbers.

• Get involved. If you are interested in asking Congress to pass stronger financial privacy protections, visit consumersunion.org and click on “Campaigns.”

Tips courtesy: Todd Davis, CEO of LifeLock

Rainy day fund is a must!

I think these articles are a great way to launch a blog on success. Given the state of today's US and world economies, you're going to have to have a monetary emergency plan in place to become and stay successful. I've included short portions of each article, but you can find out more by clicking on each link.

What are you doing for an emergency fund?


Rainy-day funds draw interest in stormy economy
By DAVE CARPENTER
The Associated Press

Having a cash stash by any name — emergency fund, contingency fund, rainy-day fund — may be back in vogue after decades of declining savings.
The continuing challenge: How to manage this set-aside money effectively.
Read more: http://www.star-telegram.com/business/story/1149066.html



Set big money aside: You might need it
Richard Burnett Sentinel Staff Writer
January 19, 2009


If the financial meltdown-turned-recession hasn't made you start saving more money for a rainy day, you should have your head -- and your bank account -- examined.An emergency-cash account, which should be enough for three to six months of living expenses, is a keystone of getting your financial house in order. And it is even more urgent now with millions more jobs in jeopardy amid the down economy."People have to save more money. That's the bottom line," said Philip van Doorn, an analyst for TheStreet .com Ratings. "Do you really need fancy cable services, the latest Xbox game, Guitar Hero, dining out four nights a week? Question everything, cut back and put it in savings. If it doesn't hurt, you're not saving enough."
Read more: http://www.orlandosentinel.com/features/consumer/orl-cash1909jan19,0,2845806.story



Experts say it begins with having an emergency fund, eliminating debt
By DUSTY MILLER News Chief correspondent
Published: Sunday, January 11, 2009 at 4:01 a.m. Last Modified: Sunday, January 11, 2009 at 8:33 a.m.

WINTER HAVEN - While many people start the new year resolving to shed some weight and get in shape, others are discovering that in the area of personal finance, a few extra pounds of debt they've added also have to go.
January is national Financial Wellness Month, providing local financial experts like Laura Hawley a targeted opportunity to teach people how to develop good spending, savings and budgeting habits.
Hawley, a certified financial planner and Lakeland-based vice president of the investment firm Allen & Company of Florida Inc., equates financial wellness with financial independence.
"A lot of people are waking up in the New Year and finding out they are in debt," she said. "Their jobs aren't as secure and many haven't put aside an emergency fund. They're only a couple of paychecks away from bankruptcy, which is financial illness."
Read more:http://www.newschief.com/article/20090111/NEWS/901110356/1009/LIVING?Title=Experts_say_it_begins_with_having_an_emergency_fund__eliminating_debt