Keeping your identity and accounts safe is just another important part of being financially secure, but many of us put ourselves at risk every day and have no idea. If you haven’t cleaned out your wallet recently, it’s very likely that you’ve got documentation lurking in your pocket that could put your entire financial identity in danger. Take some time to go through your pocketbook or wallet and remove these 5 powerful documents:

1)     Social Security Card: For a savvy thief, this small slip of paper could be all they need to start completely upheaving your entire financial world, including opening credit cards and loans in your name. Lock up your card in a safe place and remove anything in your wallet that might have the number on it. Luckily, as of 2005, states can no longer display your SSN on motor vehicle or drivers licenses. 
 

2)      Password Key: The average person has up to 7 passwords they use on a regular basis to protect everything from email to internet banking. Never write down or print out your passwords; don’t give hackers any opportunities to invade your private accounts!
 

3)      Multiple Credit Cards: On any regular day, you’ll probably only need 1 card to handle your transactions. By keeping the rest safely at home, you’ll avoid having to cancel multiple cards if your wallet were to get lost or stolen.
 

4)      Checks: Blank checks are an obvious risk, but even those that have been cancelled or cleared hold important information that could easily be used for identity theft. If you’re absolutely going to need to use a check, bring only the specific amount you’ll need and leave the check book at home.
 

5)      Business cards: It’s always wise to keep a separate holder for your business cards, rather than putting them in your wallet. Giving someone your name, address and business title opens you up to more opportunities for fraudulent activities.

For more tips on protecting your wallet, check out this great article from Kiplinger.com. If you ever have any questions about the safety of your Florida Credit Union account, please give us a call at 1-800-284-1144. 

What do you think? Do you keep these items in your wallet or purse, and if so, how do you keep them safe? 

When you go to finance a large purchase like an appliance or a car, you’ll often hear the question: “Would you like the extended warranty on that?”  If you’re like many people, you’ve been trained that extended warranties are a waste of money and are used to gain extra funds for the seller of the product. However, if they’re still being sold, that means someone must be buying them.

So the question remains: are they a good investment, or a scam?

In the end, it really depends on the purchase. Sometimes, an extended warranty definitely makes sense, but it’s wise to ask these three questions before you make your final decision:

1)      What are you buying?

Before you buy any product, you should always research to find out not only which style and brand to buy, but to know the durability and reviews of the product you’re buying. Is your camera known for breaking down early? Does your TV tend to need servicing only a few months after it’s purchased? Extended warranties are often valuable when you're financing a vehicle because of the price you’re about to pay and the amount of possible repairs that could arise.

Also remember that some items are bought with short term commitments in mind. For example, many people buy smart phones with the intention to use them only for a year or two before buying a new one, so thinking about the longevity of the purchase is important. For more items that probably won’t need an extended warranty, check out this list on FinancialHighway.com.
 

2) Does your credit card protect your purchase?

According to the blog at Lawyers and Settlements.com, many purchases made with credit cards will have extended warranties added on to the item. If you aren’t sure what coverage could be added on, call the customer service number on the back of your card, and ask a representative what type of coverage perks are added when you use your credit card.
 

3) Does it follow the 10-20% rule?

According to Consumer Reports, a good rule of thumb to follow is to avoid spending more than 20% of the retail price of an item for the extended warranty. Some mark-ups can be as high 50% of the retail price, which often mark them as being a scam on the part of the seller.
 

What do you think – buy the extended warranty or turn it down every time?