How to Financially Protect Yourself This Year
You work hard and with the hard-earned money you’ve made, you want to protect it. With that said, how are you going about keeping your finances safe in this day and age? Here are a few tips that can help ensure your finances are protected, no matter what:
Protect yourself from identity theft
If you want to be sure to keep your money safe, learn the different ways that people can try to steal your identity. From medical identity theft to tax fraud and so much more, there are a number of ways that people get their money stolen without much warning.
This can be avoided through careful use of information and cards. For example, when your banking app asks for extra security measures, don’t be afraid to click yes. It could save your money from being stolen.
Avoid using your card at gas stations
Using gas station card readers is one of the easiest ways for your card information to be stolen, so while it may be annoying, consider always going to the cashier to pay. Otherwise, have cash on hand reserved for paying for gas. It’s always better to be safe than sorry.
Be careful about online scams
There are “companies” out there pretending to sell things, but in reality, they’re only seeking your information. That perfect pair of eyeglasses for dirt cheap may actually cost you more than you bargained for. False information for large brands is posted on websites that are misleading, so when you call the number, your information is stolen from you in the guise of offering a helping hand.
It may be hard to spot a scam, but before you hand over important financial information, always think twice.
Keep your financial information as secure as possible
Typing in your birthday as your banking password could make it easy for you to remember it. However, it makes it easy for everyone else to figure out your password as well. That’s no way to handle your finances. Instead, keep a password that is as random as they come and keep it hidden away somewhere safe (whether that’s a money safe or lodged deep in your brain). This way, you can be sure that no one can discover the key to your finances.
Don’t forget the importance of savings
Obviously, where you keep your money is also important. So, if you’re banking with a bank that you trust, consider also taking your financial safety a step further by saving more money in a secure account. Saving your money can help you have a buffer should anything impact your financial wealth. Whether this looks like loss of income or financial fraud, knowing that you have something to fall back on can bring you some measure of peace as you sort out the rest of your financial situation.
If you want to make it easy for you to keep your savings in your savings account, consider opening an account at a different bank. This makes it harder to transfer money into your checking account anytime you want some extra money.
In conclusion
As you shop online, buy gas, use health insurance, and so much more, it’s wise to take care with your information and your cards. There are plenty of scams and thieves in today’s world and because you’ve given so much time to make your money, it’s wise to protect your finances as much as possible. If you need a little support, speak to a financial advisor about the best practices for protecting your finances. Don’t hesitate to get started today!
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