There’s a common misconception about what constitutes money management. Oftentimes, if you ask someone what makes for good money management skills, you’ll hear a laundry list of a reply, including phrases like: budgeting, controlled expenses, eliminating debt, saving, investing, living within your means, and more. But, most people fail to take into account the huge importance of protecting against identity theft.
Why It’s Important
In our Internet-based world, your information is highly valued. Criminals can use your financial records, social security number, credit cards, and more to ruin your identity, and make a lot of money for themselves. Repairing your online identity can be expensive and more than just a hassle. If this is the case, bankruptcy may be a positive option. However, don’t allow yourself to be a victim! Practice this key money management skill.
What You Can Do
In this day and age, we’ve become so accustomed to sharing information that we’ve become much less cautious than we were twenty years ago. Think about your smart phone apps… do you even know what kind of information you give away to these software developers? Probably not. How much information does Facebook have on you? How much of that can be accessed by anyone with a Facebook account?
Pay attention to how much information is shared. The less you share, the less your risk for becoming a victim! There are many terrific services available online that can help you implement this key money management practice in your daily life. When you’re protected against identity theft, you lessen the chance of people taking advantage of your information! In the event that you are a victim of identity theft, bankruptcy may be a good option.