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Profitt Report: Here's how to better protect your finances

Photo credit: MGN

If you feel like you’re hearing about more privacy threats than ever before, you’re right. Last year, there was almost 1,600 data breaches according to the Identity Theft Resource Center.

As we go digital, so do thieves.

“We ensure our car, we ensure our home, we ensure our life, why don't we ensure our credit? Ensure our identity?” said Jason Cryderman of Great Lakes Investment Advisors in Midland.

He is educating consumers on how to keep their information secure as possible.

“Be aware, be alert, but don't let it… consume you, don’t let it overstress you,” Cryderman said.

First, Cryderman suggests paying a company to monitor your credit. Companies like Life Lock will let you know if someone is trying to impersonate you.

You could also ask your bank or credit union about their monitoring programs.

Next, know the red flags. A tense, high-drama phone call is a big one. If you’re unsure of who is calling and why, he suggests hanging up and finding a professional who can help you sort it out.

Finally, update your passwords frequently and make them hard to guess! Even if the password isn’t attached to anything financial, thieves could use it to hack into your banking accounts. For more information from Cryderman, please click here.

The Profitt Report wants to hear from you - please send consumer questions and story ideas to ProfittReport@WSMH.com

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