Experts speculate that teenagers and young people are perhaps more vulnerable to
identity theft than adults because most have not established credit records that can
be monitored. Making teens even more susceptible to identity theft is the fact that
they are less likely to check their credit card records, and may not even be aware of
their credit record and its importance. Unfortunately, just as many teens lack the
knowledge to make sound financial choices, they also have little or no knowledge of
financial transactions and credit reports.

Jill Pharr, executive director of the Texas Credit Union Foundation (TCUF), says that just
as students are required to take core curriculum courses such as literature and history,
they should also be required to take a course on money management.

Fortunately, the passage of House Bill 492 by state Rep. Beverly Woolley does just that. The bill,
passed by the state legislature and signed by Gov. Rick Perry earlier this year, makes financial
literacy education a prerequisite for graduation in Texas, and ensures every student an opportunity
to learn about saving, investing and setting financial goals.

According to the experts, most teens do not discover they have fallen victim to identity theft
until they apply for a driver's license and are denied because one has already been issued under
their Social Security number. So before some teens have even learned to drive, theyll spend
hundreds of hours over a period of several years or more clearing their records.

There are steps teens can take to minimize their risks of identity theft, including:

1. Guarding personal identifying information: Dont be afraid to ask adults
(e.g. coaches, teachers and employers) who ask for Social Security, driver's
license and credit card numbers that you want to know how they'll use it and
how they'll protect it from identity theft.

2. Take measures to protect your personal information: It's valuable, so
password-protect your laptops, wireless phones, pagers and MP3 players,
and don't store personal identification information on these and other devices.

3. Shred all documents you no longer need that contain personal identifying
information simply tossing these documents in the trash can will put you at risk.

4. Check yourself out. When you turn 16, frequently review checking account and
credit card statements for irregularities and ask for help on how to monitor your
credit reports at least once a year.