Protect Your Finances

You work hard for your money, and the unfortunate reality is that individuals work hard to take it. As consumers, we must do what is in our power to protect our finances/identity.  SCAM is an acronym introduced by the Justice Department that provides rules/tips on protecting your identity. 

SCAM stands for:

• S - Stingy & Skeptical: 
• Be stingy and skeptical about giving out personal information (online and in-person).
• C - Check: 
• Check financial information often (alerts, accounts, etc.)
• A - Ask:
•  Ask for credit reports and review them regularly.
• M - Maintain: 
• Maintain careful records. 

The point is that you want to protect what is yours. It's so easy for information to get into the wrong hands these days, so using these tips could be a great way to help protect yourself. Being stingy just means you are careful about what information you give out and to who. Checking your accounts is important because you can potentially catch things early and contact the bank/financial institution if something looks odd. Asking or requesting your credit report allows you to confirm the accuracy of the information reported. If you see accounts you did not open or any other strange activity, you can address those things with the credit bureau(s). Finally, it's important to maintain careful records of your financial accounts - this could be very useful if you need to dispute any issues. 

Part of Managing your money like a boss is protecting your accounts and finances. Remember to be Stingy with personal info, check your accounts, ask for your credit report, and maintain careful records.