Welcome to the Stay Wealthy podcast. I'm your host Taylor Schulte. And as you may recall,

last month, I highlighted three financial scams that were growing in popularity and sophistication.

In addition to several other tips I shared in that episode, I briefly mentioned toward the end that the uptick and identity

theft and data breaches should motivate everyone to freeze their credit if they haven't done

so already. Since that episode aired, I've received dozens of great questions and comments from

listeners about freezing their credit. So today, I'm answering the top five questions here on the show

so everyone can benefit and hopefully, hopefully tackle this important yet often neglected

financial planning task. To grab the links and resources mentioned in today's episode,

including my step-by-step guide showing you exactly how to freeze your credit, just head

over to you staywealthy.com forward slash 201.

Everyone should freeze their credit.

Yes, everyone, you, your spouse, your kids, everyone.

In short, a credit freeze helps you protect your

personal information by restricting access to your credit reports. You see, when you freeze your

credit bureaus, those being Equifax, Experian, and TransUnion, the major credit bureaus,

they lock your credit file. Locking your credit file prevents

someone who gets a hold of your identity or your sensitive financial information. It prevents them

from opening up new accounts or taking out loans in your name. And believe it or not, it's fairly

easy for cyber criminals to get their hands on sensitive information on the dark web.

It's also surprisingly cheap to buy.

According to CNBC, Social Security numbers sell on the black market for between $2 and $5.

Driver's licenses sell for between $10 and $20 and banking info for between $15 and $25.

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