How important do you feel identity theft protection is today?

Dear Dave,

How important do you feel identity theft protection is today? Should my husband and I buy it just for ourselves, or should we cover the kids, too? Lastly, where does identity theft protection fall in your Baby Steps plan?

Lanie

Dear Lanie,

Unless you’ve gone completely off the grid, and have been there for a long, long time, there’s a good chance someone out there has a few of your numbers. Unfortunately, that’s all part of living in today’s world. Between consumer carelessness and data breaches—which have become an all-too-common occurrence these days—almost everyone has experienced, or will experience, some sort of identity theft during their lifetime.
So, yes. I recommend everyone have identity theft protection. I don’t really consider it part of the Baby Steps, because in my mind it’s like car insurance or life insurance, in that it’s something virtually everyone needs. And things like that should just be part of your regular monthly budget.

Good question, Lanie!

—Dave