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Identity theft is on the rise in America, and kids are the latest victims. A recent study shows that children’s identities are being stolen at a rate 50 times greater than that of adults

“Child ID theft is a particularly troubling crime because it is often undetected for years,” says director of the FTC’s Bureau of Consumer Protection, David Vladeck.

A child could have his or her social security number appropriated by a stranger from, amongst other places, a school, hospital, or doctor’s office. The theft can occur as soon as a child is born or shortly thereafter. Social Security numbers are issued using a system that is more or less easy to predict, making it possible for thieves to snag brand new numbers, or ones that are just a couple of years old. A child, whose SSN has been taken and used, may not realize that they have been victimized until later in life when they apply for jobs or loans.

Michelle Denned is the former chief privacy officer for Sun Microsystems and vice president for privacy at Oracle Corp. Her 9-year-old daughter has had her identity stolen twice. Because she has focused the majority of her professional life on protecting people’s personal information, it seems surprising that her own daughter could be a two-time victim of identity thieves. “If this can happen to me, this can happen to anyone,” she said.

“The criminals are focused on where is the softest target and we’re handing them our kids,” Michelle asserts. “We have a whole generation of kids being compromised.”

Children typically don’t have any cause to use their social security numbers, so when stolen the thief then has a clean slate with which to establish a record, free from immigration problems or outstanding debt.

Before this disturbing new trend, no one even considered checking their child’s credit report, as children don’t have credit histories. A request for a minor’s credit report can’t even technically be made because, legally, a person does not begin establishing a credit record until the age of 18. The only effective way to thoroughly monitor a child’s identity is to investigate whether or not someone else is using their SSN in conjunction with their own name.

Over 8.1 million identities were stolen in 2010, according to an identity theft and fraud protection report released by Javelin Strategy & Research released in February of this year. Often, there are no obvious warning signs that a child’s identity has been stolen, thus most become victims without even knowing it. Anne Wallace, executive director of the Identity Theft Assistance Centre, said, “Obviously, these are very vulnerable victims.”

This past Thursday, a new law went into effect which requires lending institutions supply consumers with their credit scores, for free, should they decide to deny them credit. Part of the sweeping Dodd-Frank Wall Street Reform and Consumer Protection Act, consumers who are rejected for credit card applications, student loans, or car loans are now entitled to receive a free copy of their credit score along with an explanation of why they were turned down. This new regulation will also apply to those who are “adversely approved” that is, approved but not at the best rates.

The law does not apply to all credit situations. Utility, telephone, and insurance companies, who often use their own in-house scoring systems, are exempt. However, if you were denied credit due to a low FICO or VantageScore (score created by the three major credit bureaus), the lender must supply you with your score along with general information for the denial. They must also inform you of how to obtain your credit report.

Everyone should know the content of their credit report, as the effects of this report are far reaching and beyond that of simply being invoked when applying for a loan or credit card. Banks are not the only ones interested in your score. People can be denied jobs or access to housing based on these numbers. Even if you’ve always been a good credit risk, a simple clerical error can lead to inaccurate information on your report. If this is the case, you can submit a report dispute and clean your report. The largest impact on your credit report is your payment history, if you have accounts in arrears for 30-60 days; bring them up to date before they take a toll on your score. And while creditors are not required to remove collection accounts from your credit report, some are open to negotiation.

Try to pay down your credit card balances, but if this is impossible at this time, do make sure to make at least the minimum payment. Transferring your credit card balance to one with a 0% APR can save a lot of money, but do keep in mind the 0% APR is typically just an introductory rate and will expire. When considering switching credit cards, take into consideration their rewards programs; this is another moneysaving device. Cash back programs can literally put money in your pocket when you shop or – like the Shell credit card – when you drive.

While no one enjoys being denied credit, at least now the denial will come with an explanation. Something good can come from something bad if you let this be a starting point for you to repair whatever damage your credit may have incurred.

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The current super-low interest rates are making some people happy, for instance those who are looking to buy a car, apply for a credit card, or transfer an existing credit card balance. But for people who are struggling to make ends meet using the income earned from the interest on their savings accounts, such as retirees, today’s rates are making things increasingly difficult.

In June, the Federal Reserve Board said that, at least for the near future, they plan to keep interest rates low. So for investors who depend on interest to survive, it’s going to take a bit of legwork for those looking to sink their money into a CD to find rates that will, at the very least, keep up with inflation. Other alternatives are dividend-paying stocks or short-term bond funds, but both of those options come at the cost of not being FDIC-insured.

“In this interest-rate environment, you either have to take on a little more volatility or accept a lower return,” says Laura Thurow, co-director of Baird Wealth Private Wealth Management Research.

The best CD rates available are still the ones with the longest terms. According to most consumer financial services companies, the average return an investor can expect on a five-year certificate of deposit is 1.64%, although with a bit of digging, some banks are offering as much as 2.36% for a CD on those terms. While those rates are vastly better than the ones available for short-term CDs, investors still run the risk that, if they tie their money up for so long for such a low return, interest rates will increase before the CD matures.

For the most part, investors want to steer clear of CD situations where they would find themselves tempted to break the terms and withdraw their money early, as early-withdrawal typically comes with stiff penalties by way of high fees. These fees could eat up any interest that accrued in the meantime. The same, aforementioned consumer financial services company discovered that some 13% of banks charge investors one year’s interest if they cash out their 5-year CD early. Ouch! And, more and more, banks may be increasing their penalties for early withdrawal of funds to discourage investors from cashing out early.

People seeking other options for safe ways to invest their money, but also wanting the highest possible interest rates, should look into rewards checking accounts, online savings accounts, or I bonds. There are plenty of pros and cons associated with each of one of these investment choices – as with CD’s – so sit down and do your homework first.

They espoused the great benefits that came along with government employment: Steady, almost guaranteed work, union benefits, early retirement and health benefits. “If you get in early, you’ll be retired by 40,” was a common argument.

Of course, turning 40 can sound pretty much like the end of the line to an 18-year old. I mean who cares about retirement at 40, aren’t you pretty much too old to do anything of any relevance at that age?

Teens raised in the last few decades tended to model their futures after their cultural icons. Movies such asWall Street, Glengarry Glen Ross, and even Working Girl had heroes and heroines who stormed into the corporate offices across America and took charge. In the ninety minutes it took for their stories to be told, they came, they saw, and they conquered the boardrooms.

So, most of us chose the corporate world over the government job route. We didn’t get the movie glamour, of course, but we at least got a taste of trying to climb the corporate ladder.

Today, when corporations all over America are reducing the size of their workforces daily, some say out of necessity, some say to keep profit margins up in order to keep their stock prices from declining, these private sector jobs are becoming more difficult to come by.

Many of those who snickered at the idea of a federal job are now rethinking that hasty decision. Unfortunately, that ship may have already sailed.

Federal agencies are not far behind corporate America in the freezing of new hires. Many agencies are not only under a hiring freeze, but have also seen severe cutbacks in their current workforce. The trend shows no sign of slowing either. Daily there are reports of firehouses closing, police forces being reduced, and many municipal