Money Smart Friday – Protect

Money Smart Week is drawing to a close. So far, we’ve shared tips and resources for earning, borrowing, saving, investing, and spending money. Today, we’ll talk about protecting yourself and your financial situation.

What does it mean to protect your money? First, you want to be prepared for emergencies by accumulating savings, purchasing adequate insurance, and planning for the future with documents like a will. Second, be aware of scams and protect yourself from people who would try and take your money from you. Lastly, keep good records of all financial documents. Here are some things to remember:
MyMoney Five

  • Review all financial statements and bills and question any unusual charges.
  • If something seems “too good to be true” it probably is.
  • Think twice before you share your personal information like social security number, bank account numbers, passwords, birth date, etc.

Use these resources to help you do what it takes to protect your finances and be Money Smart. (Resources with * require you to enter your SWAN username and password for off-campus access)

Plan for the future
Homeowner’s and Renter’s Insurance tips
Help with Health Insurance
Financial Readiness: As critical as fully charged batteries
How to bounce back from five of life’s biggest financial emergencies
One day you’re going to die; here’s how to prepare for it
Funding your dreams generation to generation: intergenerational financial planning to ensure your family’s health, wealth, and personal values (ebook) *

Financial records
Managing household records
How long should you keep your financial documents?
How to organize your records in case of an emergency

Fraud and theft protection
Protect yourself and recover from Identity Theft
Scam alerts (from the Federal Trade Commission)
Use this IRS form to stop tax refund fraud in its tracks
Identity theft (online video) *

We hope you’ve enjoyed Money Smart Week and learning about the MyMoney Five principles. If there’s anything we missed or you’d like to know more about, just let us know in the comments here, on Facebook, or on Twitter.

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