Roommate Identity Theft? Beware and Be Wise
It’s time for young adults to head off to college or move away from home for the first time. This is by far the highest risk group for identity theft for several reasons. When these kids leave the nest, it’s the first time they are getting true financial independence, which they might never have been trained to handle. They have access to credit cards, new bank accounts, and they’re managing it themselves. That may be a huge red flag that there’s going to be trouble. Secondly, they’re going into an environment where their stuff is not particularly protected. They’re in a dorm room or apartment, they’ve got roommates that may need extra cash; they know they can take advantage of them. So it’s a high risk environment. The third reason is because they do so much online. There’s so much social media interaction and that’s where tons of information is stolen. Take the steps listed below and talk to your newly-independent kids about implementing them. It will help them out not just this year but will also help them build their financial future going forward. Your identity is pretty much everything in terms of your net worth. You’ve got to take care of it now.
