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4 tips for Identity Protection

Identity theft affects people more often than not. I've had my at least one breach of my financial information stolen and cannot over emphasize the importance of identity protection.

Things you can do to protect your identity is to

1) Keep your Social Security Number private. Do not share this with more people than you need to. If they have to pull a credit check on you then you can make the decision then, but do not advertise your SSN to everyone that asks for it.

2) Check your mail promptly. Do not leave mail in a mailbox unattended for excessive periods of time. An unguarded mail drop is a prime target for identity or financial theft.

3) Check your credit report at least quarterly. You can check your credit report from each of the three major credit reporting agencies for free once per year at http://www.annualcreditreport.com and follow the instructions to dispute any false or illegitimate debts.

4) Buy credit monitoring services or identity protection services, like those offered from IdentityTruth.com


By taking personal responsibility for knowing who your personal financial data is shown to, by not applying for more credit than you need, and by using a credit monitoring service or identity theft service you greatly reduce the possibility of identity theft.

Don't become a statistic of identity theft. Do something about your peace of mind today.

Personal Financial Planning

Greetings Folks,

I have just completed my new eBook - Personal Financial Management Planning and need to tell you about it.


Personal Financial Management Planning is the affordable eBook for creating your personal financial plan. Determine your monthly budget, determine where your money goes and how you can optimize your budget, plan for any financial disaster and avoid over spending in all areas of your personal finances.

• Budget Your Monthly Cash Flow
• Determine Your Net Worth
• Create Defensive Savings
• Learn how to use cash
• Find effective money saving tips
• Eliminate Debt and Build Wealth

The zip file contains workbooks in both Microsoft Excel 2003 and OpenOffice Calc compatible formats.

You can buy a copy for only $4.95 USD by clicking on this button:

Defensive Savings

What is the difference between something and nothing? The answer is everything. Do you have a savings account or other means to sock money away? If you don't, you may put yourself in a higher risk category than you have ever dreamed.

Start today, and put aside as much as you can into a cash savings account. Have a target of $500.00. That is something. Not having that $500.00 available in your time of need can be a real heartbreaker. If you needed immediate cash for something, would you be able to get it? A number of banks allow you to have more than one account under your name. Start with a checking account or money market account for daily or monthly cash management. Then start putting money into a cash reserve savings account. You should target $500, but if you can put away more, that's great. If it's in an interest bearing account, all the better. If you deplete this account, make sure you replenish it as soon as possible.

The next level of savings you should set as your goal, is a reserve of three to six months worth of your normal income. What happens if your job is "right sized" and you find yourself out of work? I have seen that happen way too many times to know it can happen to anyone. While looking for something else, you will have the option to live on your income reserve account, while you seek other employment. Do not touch this account, unless you have lost your primary means of generating income! If you never need to touch it, then great, it will reflect as a nice asset on your financial statement.

Lastly, develop a savings plan for retirement. Put away whatever you can afford to do, and target the maximum you can that can be matched by your companies matching policy (if there is one). Whenever you get a raise, increase your savings amount as well. This is typically done through 401(k), 403(b), IRAs or other securities plans that you can contribute to. This is typically a pre-tax deduction from your paycheck, so you end up paying less on your taxes (today), but may be required to pay taxes on that money when you want to cash in on your long term savings. Talk with your tax adviser at least annually.

What does this have to do with our credit score? Everything. If you have the ability to continue to meet your obligations in the face of adversity or recession, then you have protected your credit score. If you develop good savings behaviors and prohibit yourself from making poor buying decisions, you can secure a much better financial future for yourself and your family.

5 Factors that influence your credit score

What do you think goes into calculating your credit score? There are a number of things that go into determining how banks and other creditors determine if and what to lend a person, and at which interest rate. And by learning about these five factors, and positioning your behaviors to strengthen these items, you can boost your credit score in a matter of months.

1) Pay on time or pay ahead. Never miss a payment to anybody. This is critical to establishing trustworthiness with someone else's money.
2) The percentage owed versus available balance. Keep this ratio under 50%. If you have a credit line of $1000.00, keep your amount owed under $500.00.
3) Number of open accounts. If you have an excessive number of open accounts, you are more likely to be spread too thin. Consider consolidating some of these accounts into a single account and closing the extra accounts.
4) Number of credit inquiries. If you are constantly trying to get additional credit, you may be sending up red flags to the credit grantors indicating that you are on a fishing expedition for more credit. Instead, talk with your existing creditors about increasing your available credit, and reducing your interest rate.
5) Inaccurate credit reporting data about you or any of your accounts can play a huge negative role in determining your credit score. Get copies of your credit report and dispute any invalid data or account information immediately. You can get your free credit report from each of the three major credit reporting agencies at http://www.annualcreditreport.com.

Knowing these five factors to your credit score will help you manage your credit and improve your credit rating quickly and with great results.

Top 5 Credit Score Factors

What do you think goes into calculating your credit score? There are a number of things that go into determining how banks and other creditors determine if and what to lend a person, and at which interest rate. And by learning about these five factors, and positioning your behaviors to strengthen these items, you can boost your credit score in a matter of months.

1) Pay on time or pay ahead. Never miss a payment to anybody. This is critical to establishing trustworthiness with someone else's money.

2) The percentage owed versus available balance. Keep this ratio under 50%. If you have a credit line of $1000.00, keep your amount owed under $500.00.

3) Number of open accounts. If you have an excessive number of open accounts, you are more likely to be spread too thin. Consider consolidating some of these accounts into a single account and closing the extra accounts.

4) Number of credit inquiries. If you are constantly trying to get additional credit, you may be sending up red flags to the credit grantors indicating that you are on a fishing expedition for more credit. Instead, talk with your existing creditors about increasing your available credit, and reducing your interest rate.

5) Inaccurate credit reporting data about you or any of your accounts can play a huge negative role in determining your credit score. Get copies of your credit report and dispute any invalid data or account information immediately. You can get your free credit report from each of the three major credit reporting agencies at http://www.annualcreditreport.com.

Knowing these five factors to your credit score will help you manage your credit and improve your credit rating quickly and with great results.

Time to Take Action

Our credit score is an important part of our lives, yet more often than not, we tend to either ignore it completely or just take it for granted that it is whatever it is. Without taking action to correct a faulty credit score, or by willingly using credit unwisely, we can find ourselves in a big mess financially, and may not get the full benefit of a good credit score.

This post is about how to take action to fix your credit score, and take charge of your financial life. In the previous post about Our Credit Score we found that there are things we can do to get a free credit report from each of the three national credit reporting agencies.

In the second post on Our Credit Score - Where do you stand? we learned about organizing our financial records, and how to put all of our account information into a unified document for ease of use and consolidating our records.

Today, we are going to talk about how to compare our credit report to our spreadsheet and correct problems. The first thing we need to do is validate each claim in your credit report (one report every four months), against your spreadsheet, and update your spreadsheet with any records that need updating, taking note of any accounts you need to update or remove from your credit report.

Once you know what records require action - then take it! Do not hesitate to repair your credit. Each day you delay will reduce your credit score. You have two choices for taking action. You can file a letter to each of the credit agencies, disputing the credit report, item by item, date for date, amount by amount by yourself. This is a good way to go, but my recommendation would be to take advantage of a credit monitoring service like the services provided at myFICO Monitor Your FICO Score & Equifax Credit Report or let a company like Lexington Law help with credit repair services.

Either way you go, take action and protect your name and your credit score. The best defense is diligence.