Tuesday, November 24, 2020

What NOT to carry in your wallet

 I want to share the worst things you can keep in your wallet or pocketbook. Today if thieves get some of this information, they have the keys to your financial city. This seems like a no brainer but do not carry your Social Security card. Most of us memorize our number from a young age and you seldom would ever have to show your card to anyone. Rarely anyway, so do not carry that card with you. Do not carry a spare house key in your wallet or purse. More than likely your address is in your wallet now they have a key to get in. Store a spare key with a trusted neighbor or hide where you can get at it if needed. I know not as many people use checks today but don’t carry a bunch of blank checks and only have what you will need with you. Many of us have multiple credit cards. It's best to limit how many you have with you. Make a photocopy of the front and back of all your cards and store in a safe place. If they're lost or stolen it’ll be easier to access the information you’ll need. Many retirees still may have old Medicare cards with their Social Security numbers printed on them in their wallets. Carry only your new Medicare card. Medicare has stopped issuing Medicare cards with Social Security numbers on them and replaced them with new paper cards. The new Medicare cards have a number on it that's unique to you. And finally, gift cards. I can see carrying them with you so you can use them on a whim, but they can be lost or stolen and there’s no way to really prove they were yours.

For more information go to yoursafemoneyshow.com at the financial materials page.

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