Organizing Your Finances Can Help Avoid Financial Fraud
If you find it difficult to organize your finances and access your financial information, you’re certainly not alone, but this puts you at greater risk of financial fraud. Fears around your debt can lead to financial habits that put your personal information and identity at risk. Unfortunately, not opening your bills, ignoring your bank accounts and statements until there’s a problem, or tossing out paperwork without a second thought, are all habits that make it a lot easier for a fraudster to get a hold of your financial details.
Keeping your financial information organized and easy to access also means that if there is a problem, you’ll be able to notice, and put a stop to it sooner than you would otherwise. Household bills, credit card and banking statements, and other financial documents contain a wealth of information that’s a goldmine for anyone looking to steal your money or your identity. These documents should be disposed of carefully – throwing them in the garbage is not good enough! These organization tips can help you keep your finances neat, tidy, and safe from fraud.
- Set up a filing system for your financial documents –whether they’re hard copies or digital, keep all of your financial paperwork safe in one place.
- Once you have a filing system, opening your bills and other financial paperwork becomes a bit less scary. Open and read everything, then file it away when you’re done.
- Always shred old credit card statements, cheques, and other documents containing personal information.
Does Being Organized With Your Finances Really Matter?