Using money wisely and building wealth

WHO’s In Your Wallet?

OK! I give! Is it a coincidence? Plain bad luck? Or just a sign of the times?

My family has been the victim of identity theft THREE times in the last THREE months. Yes I said THREE! It first started with my husband the last part of February when someone stole his credit card number and made some purchases in Sweden! The bank issuing the card caught it and placed a hold on the account until we called the number on back of the card because it was rejected when he tried to use it at a local merchant. They were very helpful, sent a new card right away and helped us complete a fraud report. We didn’t think a whole lot of it and we made light of the situation joking about the Swedish girlfriend my husband must have had.

Swedish Girlfriend then became Surfer Boyfriend…

My card was next! A few weeks ago I tried to use my card at a local gas station and it was rejected! My husband was with me so he just whips out his “new” card that was issued in February after the Swedish Girlfriend incident. REJECTED! What! Of course we call the bank immediately and as soon as I plug in the card number I am transferred to “The Fraud Department”. All of a sudden I had a hard time swallowing. Turns out that BOTH of our cards have been compromised within two days of each other with mine having been used at McDonalds and Walmart in CALIFORNIA!

Now, you have to understand our current credit card use. It’s not much! We have been working on the envelope (cash) system for about 2 years now and use our credit card infrequently.

So what do you do to protect yourself…

If you really don’t have a Swedish girlfriend or Surfer boyfriend, consider limiting your credit card use. If you have to use a credit card just know that you are handing over a lot of personal information along with that magnetic strip on your card. Please consider using the envelope system! CASH!

I would like to challenge you to ask yourself two questions…

Is the convenience worth it?


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