MyMoney Building Block – Protect

By David Hsu, Fall 2016 Student Intern

In addition to maximizing the money we have coming in from our paycheck and developing a good strategy for where to put that money, we have to be able to protect those assets from people who may try to take that money from us, sometimes through illegal and fraudulent means. As we move into an increasingly digital world, there are new ways for unscrupulous individuals to attempt to take advantage of general public.

The Protect building block focuses on the various threats to our financial well-being and how to protect against them. Included as part of this block is information on how to keep track of your financial information and how to look for discrepancies, how to spot and avoid potential scams, how to prevent identity theft, and keeping abreast of your credit record and credit score.

The MyMoney.gov site has cataloged over 400 resources across various federal agencies with information relevant to this building block. In particular, visitors interesting in learning more about how to protect their assets should look to this article from the U.S. Department of Agriculture on keeping and managing household records and this article from the Federal Trade Commission on how to deter, detect, and defend against identity theft.

The article containing information about household recordkeeping is a prime illustration of the value of the MyMoney.gov portal in serving as a single point of access to financial management information. It is unlikely that someone would go to the Department of Agriculture for advice about money management, and resources such as these would be lost without a site like MyMoney.Gov.