Urgent Warning to New Jersey Residents: Check Your Wallet Today

🔺  The start of the new year is a good to to take inventory of your

        wallet or pocketbook

🔺  It takes very little information for a scammer to steal your identity

🔺  There are a few items you should NEVER carry with you

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Now that the New Year has begun, there’s an exercise that everyone should do.

It will only take a few moments but can help save you from the aggravation and frustration of identity theft.

Take a few moments to review the contents of your wallet.

If you're like most folks, it's easy for it to become cluttered with all kinds of stuff – cards, receipts, and personal details that you don’t necessarily need to carry around.

My wallet tends to enable my hoarding tendencies.

In my head, I think, “I need to save this, just in case…”

No doubt, months later I look at the item and wonder where it came from.

While it may seem harmless, carrying excessive personal information can have serious consequences.

Things you should NEVER carry in your wallet include,

🔺  Anything that has your social security number on it

🔺  Paper checks

🔺  Old bills with personal information

🔺  Things with your home address or birthday

🔺  A list of usernames, and passwords

🔺  Personal information of family members

Experts caution that a cluttered wallet could put you at risk for identity theft.

If your wallet is lost or stolen, the personal details within it can easily fall into the wrong hands, making you vulnerable to fraud or worse.

New Jersey ranks 13th in the nation for identity theft cases, with more than 28,000 reports annually.

The effects of identity theft can be profound, leading to financial loss, damage to your credit, and a long recovery process.

If someone gains access to your home address and other private information, it could also pose a physical danger.

In the unfortunate event that your wallet is lost or stolen, it's important that you deal with it immediately.

One of your first steps should be to report the theft to your local police department.

Be sure to get a case file number.

You will need this when contacting your credit card companies.

Additionally, don’t overlook the importance of contacting the three major credit reporting agencies – Experian, TransUnion, and Equifax.

Request to speak to their fraud department to flag your accounts and prevent further damage.

Failure to take this step can have a profound impact on your financial life for years to come.

It's good practice to do this exercise a few times a year.

I try to do it at the start of every new season.