With the cost of higher education increasing more and more in the past years, the time you graduate from college is no longer just the moment when you plan your career, it has become the moment that your debts start to catch up with you.
To diminish the stress of repaying the student loans you acquired in college it is advisable that you... Read more
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In this modern digital age, we are defined by our virtual personal profile in databases. Identity theft is simply the kidnapping of this virtual profile. Once obtained, the theif then uses the profile in a variety of profitable manners. The most common form of identity theft is not the stealing of credit card numbers. Instead, the devious individual is aiming for your social security number. Why? That number is the basis of many different financial transactions. With a social security number, an identity thief can take many financial steps. They can open multiple credit card accounts. They even apply for a loan once they establish a second address. Criminals make great capitalists. They can find multiple ways to use ill gotten gains to make a profit. A new approach is to sell your social security number to illegal immigrants. The immigrants often need to show them to hold a job. The sale of social security numbers to people who need them to hold a job causes another massive problem for the victim. Taxes. The IRS receives a report of all earnings per social security number. If you under report, you will be contacted. Once a theif is armed with your social security number, there are a lot of ways they can go. A classic approach is to open a bank account. Why is this a problem? They write bad checks against the account until the bank closes it and looks for you. Finally, identity thieves need to chat by phone frequently, but why should they pay for this when you will? Yes, they use your information to buy cell phones and open new accounts with the mobile providers. As with any crime, identity theft is not something you want to experience. Unlike other crimes, you rarely realize you are a victim until things are really bad. Theives have bills sent to addresses other than yours, so you don't know it is occuring. So, how do most people discover they have been hit? They start getting calls from credit bureaus or collection companies. Alternatively, they find all their credit cards shut off and their bank account frozen. Trying to convince credit card companies, the IRS and so on that you are innocent is a test that would make Buddhist monks riot. Your best option is to take every step possible to avoid the problem.
So you have a few dollars to save, payoff debts, or invest for the future. What do you do with the money, so you can reach your goals in the quickest and easiest way possible - and not waste time or money on poor decisions?
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Step One: Plan for the Unexpected Big Time Bill
The first step arises from debt from a one-ti...
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