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Your Name Is an Asset

Paying bills on time (building good credit) and protecting yourself from identity theft are important to keeping on track financially.

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Now you'll learn:

  • Strategies for paying your bills on time.
  • To simplify budgeting and saving by putting things on "auto-pilot."
  • Ways to reduce the chances of becoming a victim of identity theft.

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Every month, go back to your budget and plan carefully to ensure your bills are paid before their due dates.

Setting up direct deposit and putting bills on auto debit can help you keep your good name. Betty, the doer, has some tips of her own for how she keeps on top of her monthly bills.

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Betty makes sure she pays her bills on time.

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Betty makes sure she pays her bills on time.

Debt

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Betty makes sure she pays her bills on time.

Debt

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Betty makes sure she pays her bills on time.

Debt

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Betty makes sure she pays her bills on time.

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Betty makes sure she pays her bills on time.

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Betty makes sure she pays her bills on time.

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Guard Your Identity

Just as you protect the security of your home, you should take steps to protect your identity.

A periodic check of your credit report can alert you if someone is illegally using your name.

If you suspect unauthorized access, contact the major credit reporting companies and place a fraud alert on your name and Social Security number.

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Some tips to protect your identity:

  • Shred or destroy your bank and credit card statements and all other private records.
  • Give out your Social Security number only when absolutely necessary.
  • Pick up your mail promptly, and never leave outgoing mail with paid bills in an unsecured mailbox.
  • Don't give out personal information on the phone, through the mail or on the Internet unless you're sure you know with whom you're dealing.
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Lessons Learned

Keeping your good name means paying your bills on time and also keeping your identity out of the hands of others.

Putting things on auto-pilot and staying there will make that a lot easier.

The next chapter will include more ways for you to protect your wealth.