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10 Ways to Prevent Identity Theft, Without Paying for Credit Monitoring Services!

10 Ways to Prevent Identity Theft, Without Paying for Credit Monitoring Services!

You should not pay for credit monitoring services as a way to prevent identity theft. In fact, most features in specialty identity theft protection plans are replicable at almost no cost. All it takes is a few hours, and you will be able to replicate most of what these services can offer.

There are many things you can do to prevent identity theft, although only certain efforts will have a real impact. For best results, you should try to build security layers that match everything a credit monitoring and identity theft coverage plan offers.

Here are 10 ways to prevent identity theft, while also removing the need to pay for credit monitoring help!

1)   Get your free credit report!

You do not need to pay for credit monitoring to get access to your credit report. In fact, you have the right to obtain a free credit report once a year from each of the bureaus. You can do this through AnnualCreditReport.com — this is the only website legally permitted to promote free credit reports to Americans!

For best results, space out your requests so you can review your credit report every four months.

2) Place a Credit Freeze

A credit freeze will stop an identity thief from being able to open a new account in your name. It’s a security freeze that locks down your credit report. If a new lender wants to pull your file, you must request a temporary lift of your report or get it lifted just for that creditor. No one else will be able to trigger a lift of your credit freeze, unless they know your PIN number.

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Depending on the credit freeze laws in your state, it could cost nothing to as little as $3, and as much as $20, to place and/or lift a credit freeze. You should find your state’s credit freeze laws before requesting it; regardless, make sure you file the freeze request individually with each of the credit report bureaus.

3) Monitor Your Social Security Number (SSN)

If you do not already have a my Social Security account, there are many reasons why you should create one. The most notable would be the Social Security statement you get, which details anywhere your SSN was used. Yes, this is the equivalent of the SSN monitoring offered by many credit monitoring as a means to prevent identity theft. With it, you can catch any instances where your number was given for civil court cases, criminal confrontations, medical procedures, and much more.

Note: If your SSN was compromised, avoid identity theft risks by requesting a new one on the Social Security Administration website.

4) Put an End to Mailbox Dangers

If you have a typical mailbox, it’s a good idea to invest in a lock for it. An even better ‘plan of action’ would be to get a PO box at your nearest post office. This will help a lot to prevent identity theft around tax season. It also helps you to avoid identity theft in general, as it makes your information harder to obtain.

If you cannot get a PO box, at least lower your exposure to sensitive mail. Go to OptOutPreScreen.com and request that you get removed from the mailing list that gets shared by the credit report bureaus.

5) Never Stop Learning!

As a beginner trying to identity theft prevention strategies, there are many common sense factors that you might not understand. This is why it’s important that you take the time to learn more than just what you find here.

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You can find a lot of fundamental advice in Elite Personal Finance’s lengthy guide ‘100 Ways to Prevent Identity Theft’. Once you get more experienced, subscribe to Robert Siciliano’s blog and keep an eye for new posts — he is an identity theft expert, as well as an author for McAfee.

6) Place a 90-Day Fraud Alert

If you are against the credit freeze option, then it’s recommended that you at least place a 90-day fraud alert on your credit file. This can be done by notifying one of the three credit report bureaus of the request; once the initial fraud alert is processed, the receiving bureau will advise the other two to do the same.

The 90-day fraud alert will advise prospective lenders to contact you to verify your identity. This is done by placing a notation on your credit file to inform the creditors that your identity could be compromised. The problem is that lenders do not have to contact you, so it is not a 100% effective prevention tactic.

Remember, if you do place a 90-day fraud alert, it’s important to make a note on your calendar of when it needs to be renewed.

7) Create a Wallet Backup

If your wallet ever gets lost or stolen, there is no guarantee the contents will not end up in the hands of an identity thief. This is why you need to have an easy-to-access list of the various cards, licenses, and other important information, that can be found in your wallet.

Keep an updated list of your wallet’s contents, including card numbers and contact lines. If you lose your wallet, contact each company on the list and let them know before any damage gets done.

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8) Shelter Yourself Online

You need to be careful about what people can find out about you online. The most detailed pieces of information are found in online whitepages, reverse lookup directories, VPN and other online services providers. If you remove yourself from your local directory, most of these websites will not have access to your details anymore.

From time to time, it’s a good idea to search for your name (with location details) in Google. If you have a unique name, you could even set up a Google Alerts for it. Your information might show up in search results if you sign up for a junk mail list, or if it was shared in a hacking forum data leak.

9) Use Your Bank’s Mobile App

Online banking helps, but a mobile app will keep you in full control over your bank account. It might even be possible to set up various types of security alerts, depending on which bank you use. Just make sure to keep an eye on your account every day — watch out for any transactions that should not be there.

You might not prevent identity theft this way, but the faster you know the quicker you act and that makes all the difference when restoring your identity.

10) Freeze Your Empty File

If you have no interest in building credit, do not be fooled by thinking that identity theft cannot affect you. Even those with no borrowing history are at risk of becoming victims–in fact, minors are targeted the most because of this reason.

If there is no credit report tied to your SSN, then make one and freeze it to prevent identity theft from becoming a risk. Otherwise, it just takes a single credit application using your SSN to allow an identity thief to control your report without your knowledge.

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Conclusion: You Can Avoid Identity Theft for Free!

If you want to prevent identity theft, do not bother with credit monitoring services. It’s really just a service that benefits you if you are looking to boost your credit score. To avoid identity theft, you need specialized services that you can actually do yourself!

Therefore, you must take initiative and better your personal security. The framework is there for you to do so, which means it’s just a matter of making the effort.

Before you start, you should also read our post on ‘What to Do in Case of Identity Theft’ to know how to handle it if it does happen to you!

Featured photo credit: 10 Ways to Prevent Identity Theft via google.com

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Last Updated on December 1, 2020

How to Find Your Entrepreneurial Passion and Purpose

How to Find Your Entrepreneurial Passion and Purpose

I wrote a few articles about starting a business based on something you love doing and are passionate about. I received several responses from people saying they weren’t sure how to go about figuring out what they were most passionate about or how to find their true purpose. So I’m dedicating this article to these issues — how to find your entrepreneurial passion and purpose.

When I work with a new client, the first thing we talk about is lifestyle design. I ask each client, “What do you want your life to look like?” If you designed a business without answering this question, you could create a nice, profitable business that is completely incompatible with your goals in life. You’d be making money, but you’d probably be miserable.

When you’re looking for your life purpose, lifestyle design isn’t a crucial component. However, since we’re talking about entrepreneurial purpose, lifestyle design is indeed crucial to building a business that you’ll enjoy and truly be passionate about.

For example, say you want to spend more time at home with your family. Would you be happy with a business that kept you in an office or out of town much of the time? On the flip side, if you wanted to travel and see the world, how well could you accomplish that goal if your business required your presence, day in and day out, to survive? So start by getting some clarity on your personal goals and spend some time working on designing your life.

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At this point, you may need a little prodding, and you may want to hire a coach or mentor to work with you through this process. Many people are very used to the idea that there is a particular way a life “should” be. There are certain milestones most people tend to live by, and if you don’t meet those markers when or in the manner you’re “supposed” to meet them, that can cause some anxiety.

Here’s how to find your passion and purpose:

Give Yourself Permission to Dream a Little

Remember that this is your life and you can live it however you choose. Call it meditation or fantasy, but let your imagination run here. And answer this question:

“If you had no fears or financial limitations, what would your ideal life, one in which you could be totally content and happy, look like?”

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Once you’ve figured out your lifestyle design, it’s time to do a little more soul-searching to figure out what you’re truly passionate about. This is a time to really look within and look back.

Specifically, look back over your life history. When were you the happiest? What did you enjoy doing the most? Remember that what you’re looking for doesn’t necessarily have to be an entire job, but can actually be aspects of your past jobs or hobbies that you’ve really enjoyed.

Think About a Larger Life Purpose

Many successful entrepreneurs have earned their place in history by setting out to make a difference in the world. Is there a specific issue or cause that is important to you or that you’re particularly passionate about?

For some, this process of discovery may come easily. You may go through these questions and thought experiments and find the answers quickly. For others, it may be more difficult. In some cases, you may suffer from a generalized lack of passion and purpose in your life.

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Sometimes, this can come from having suppressed passion in your life for too long. Sometimes, it can come from eating poorly and lack of exercise. But occasionally, it may have something to do with your internal chemistry or programming. If the latter applies to you, it may be useful for you to seek help in the form of a coach, mentor, or counselor.

In other cases, not knowing your true purpose may be a matter of having not discovered it yet: you may not have found anything that makes your heart beat faster. If this is the case, now is the time to explore!

The Internet is a fantastic tool for learning and exploration. Search hobbies and careers and learn as much as you can about any topic that triggers your interest, then follow up at the library on the things that really intrigue you. Again, remember that this is your life and only you can give yourself permission to explore all that the world has available to you.

How Do You Know When You’ve Found Your True Entrepreneurial Purpose?

I can only tell you how I knew when I had discovered my own — it didn’t hit me like a ton of bricks. Rather, it settled over me, bringing a deep sense of peace and commitment. It felt like I had arrived home and knew exactly what to do and how to proceed.

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Everything flowed easily from that point forward. That’s not to say that I found success immediately after that moment. But rather, the path ahead of me was clear, so I knew what to do.

Decisions were easier and came faster to me. And success has come on MY terms, according to my own definitions of what success means to me in my own lifestyle design.

Dig deep, look within, and seek whatever help you need. Once you find that purpose and passion, your life — not just your entrepreneurial life, but your entire life — will never be the same.

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