Photocopy Your Wallet

Whether you are trying to save for the downpayment on your first home, or cutting costs in order to avoid foreclosure, the Minnesota Home Ownership Center would like to help. Over the coming weeks, we'll be sharing with you some tips, hints and techniques that can help you get your finances in order, and help you reach your long-term financial goals.

Our first personal finance tip is this: Photocopy Your Wallet!

Sounds strange... but here's the thing: If you were to lose, or goodness forbid be robbed of, your wallet or purse... would you know how to contact your bank regarding your credit or ATM card(s); your credit card companies and any stores that have given you credit? How long would it take for you to find all the statements and emergency contact information for each of those cards? And how much damage could an identity thief do in that amount of time?

A quick and easy solution? Photocopy ALL of the contents of your wallet - front and back - so you have an easy reference for all the emergency numbers (they're generally found on the back of the card) and the account numbers for all your cards.

NOW, here's the key - - hide those copies in a SAFE LOCATION!! Losing the copy could be just as dangerous as losing the cards themselves!

Succesful home ownership starts with successful money management. If you're thinking of buying your first home, think Home Stretch first. If you're having difficulty with your house payment, don't delay, contact a Foreclosure Counselor now!