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How to Prevent Fraud & Identity Theft (& Save You Tens of Thousands)
Are your finances naked and exposed?
Are you risking everything you’ve built because you haven’t taken any precautions to protect your money from fraud or identity theft?!?
I often see people who have fraudulent activity that has happened to them.
It breaks my heart. A couple of summers ago I knew someone personally who had $15k taken out of their bank account. The amount of stress this person was under, because of it, was incredible.
I know someone else who lost $400k due to fraud. Yes you read that right!
I wish this upon no one.
Which is why I want to share 4 super valuable tips for how to increase your financial protection!
#1) Don’t open up your bank accounts when you are on public wifi.
Wait until you are at home or do a personal hotspot if you need to check them when you aren’t at home.
#2) Change your online banking password!
Please do NOT have the same password for your online banking as you do any other password.
Add in symbols, upper case letters and numbers. Make this sucker a strong password.
And change your payment processor passwords too (PayPal, Stripe, etc).
#3) Add security questions for your online bank accounts.
BUT don’t answer them with the “correct” answer.
What I mean by that is – when they ask, “What is your mother’s maiden name?” Don’t actually put it in there. Put something completely different!
Why am I recommending you to do this?
Because accounts can sometimes be accessed even if someone doesn’t know your actual password, through your security questions. I am sharing this because this happened to someone and they lost $250k out of their bank account!!!
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#4) Use RFID Cards
You can buy these on Amazon or at a luggage store for $4.
Put your debit & credit cards in these to help prevent people from scanning them.
Tell me, which of these are you going to implement right away to increase your financial protection? Did you enjoy me sharing these tips with you?
I Share a TON of Financial Tips on Instagram, join me there! @mandyythomas
Click here to download my Realistic Budget template!