Savings

At the beginning of the year many people take the opportunity to make changes. Some decide to adopt a healthier lifestyle; losing weight, stopping smoking, or reducing the amount of meat they eat. Others see the start of a new year as the motivation they need to look for a new job, start a new hobby or even move house.

A sad side effect of the Covid-19 pandemic is that the number of couples divorcing has steadily increased over the past 18 months. In the UK alone, one law firm recently reported that it has seen divorce instructions increase by around 30% since the pandemic began, and the UK’s Citizens Advice charity, which provides advice and guidance on a range of personal issues, has also seen a dramatic rise in visits to the divorce section of its website.

When something you rely on breaks, such as your central heating or car, having money put aside to pay for it to be repaired or replaced, makes life a little less stressful. Similarly, if you fall ill, or you lose your job, having enough money put aside to pay your essential bills will give you breathing space to recover or find a new job. That is why building an “emergency fund”, savings which are there to help you deal with the unexpected things life sometimes throws at you, is something everyone should do.

How your identity can be stolen?

Traditionally, criminals needed physical information to steal someone’s identity. They got this by:

• Stealing a purse/wallet/bag.
• Rummaging through a bin for documents.
• “Skimming” a bank or credit card at a cash machine or card terminal.
• Stealing post.

However, because we now live in a digitally connected world, physical access to documents and information is no longer essential for a criminal to steal someone’s identity. Technology means they can get what they need via:

Protecting Your Identity

Identity Theft and Identity Fraud are the fastest growing crimes in Europe and the US with around 1 in 10 of us falling victim to these crimes each year. Criminals are using increasingly sophisticated and convincing methods to separate us from our hard-earned cash, and the money they are stealing is also helping fund terrorism and the illegal drugs trade.

So, what can you do to avoid becoming a victim of Identity Theft and Identity Fraud?