The 5 Steps To Protecting Your Money From Identity Theft!

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Every other day, we hear about a new report about identity theft. It’s almost impossible to protect our private and personal information when we are surrounded by identity thieves, hiding as a co-worker, colleague, or neighbor. However, there are some ways through which you can definitely improve your chances. So, let’s check out the 5 steps to protecting your money from identity theft.

The 5 Steps To Protecting Your Money From Identity Theft!

5 Steps To Protecting Your Money From Identity Theft

#1 Do not share too much on the social networking sites!

One should avoid putting unnecessary personal details on the social networking sites. Even when you share information on sites like Facebook, Instagram, LinkedIn, Twitter, you should be careful about safeguarding it. You can do this by changing your privacy settings accordingly. The default settings generally tend to keep your account and other details vulnerable.  It’s tough being a student in this country. You can always take up a student loan but you need to know the different types of Student Loans.

#2 Be cautious when handling your financial documents!

While the physical documents are lesser threats these days, considering the risk involved in stealing them, you should still be careful while handling them. Don’t let your house be strewed with important documents, where anyone coming to your place can access them. Keep them in a secured place and destroy the ones you don’t need anymore. Use a shredder instead of simply throwing them out or tearing them up. Planning for retirement is essential. However, you need to know the different types of Retirement Plans before choosing one.

#3 Use strong passwords!

With growing technology and everything moving to the online medium, online banking is becoming omnipresent. And with access to all your information and net worth just through a username and password away, racking your brains for a strong password is a call of the hour. Don’t choose a password that is somehow relatable to you. However, don’t choose one that is difficult to remember, forcing you to write it somewhere else.

#4 Unsecured WiFis are traps!

Safety against identity theft

Public areas like train stations and cafes have free and unsecured WiFis for people to use. While this is great, identity thieves, using the same WiFi, have a better success rate accessing your information. Therefore, avoid accessing any financial accounts through these WiFis. Investment is a definitely a good means to earn extra money. Here are The 7 Best Short-Term Investment Plans For You! Moreover, securing your home and work WiFi is equally important.

#5 Check and monitor your credit and bank accounts regularly!

Checking your credit and debit card statements online daily is very important. This helps you in catching any suspicious activity on your account at the early stages. Criminals are using smart ways, like skimming small amounts many times, instead of taking it all away in a single blow. Today, many people are struggling with a poor credit score. Learn How To Improve Credit Score Immediately?

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