In today’s shaky economy, it’s more important than ever to know what’s going on with your money. But, while you’re fretting about the state of your IRA or the security of your bank, it’s critical to make sure that you’re protected against one of the country’s fastest-growing crimes: identity theft.

You’ve probably heard horror stories about ID theft – you may even know someone who has suffered the stress of being a victim. It’s scary stuff: All it takes is an account number and a little bit of personal information, and an ID thief can open credit cards, make charges, or even apply for high-dollar loans . . . in your name.

The good news is that there are several ways to guard against ID theft. By making a few changes and doing a little bit of legwork, you can ensure that your identity remains yours:

• Be careful what you throw away. Countless cases of ID theft happen simply because the victim unwittingly threw away a bank statement, credit card receipt, or pre-approved credit application. Maybe you don’t see your stinky garbage can as a gateway of opportunity, but, to your average identity thief, trash day offers the chance to do a little “dumpster diving” for your personal information. Make sure that your garbage is just that, and don’t throw away something that could fall into the wrong hands. And, to make things even more difficult for would-be crooks. . .

• Invest in a shredder. Ranging in price from about $30 to $75, a good document shredder is one of the best purchases you’ll ever make. Get into the habit of shredding anything that contains your personal information, even junk mail.

• Get a copy of your credit report. You’re entitled to review copies of your credit report once a year for free, so don’t miss out on the opportunity to stay on top of your credit. After all, you can’t protect your credit until you know what’s on it . . . and who put it there. Review your credit reports thoroughly, and take note of anything that seems fishy, like a card you don’t remember opening or a charge that you know you didn’t make. Don’t be afraid to dispute suspicious or inaccurate listings, either. To find out how to review a free copy of your credit report, visit the three credit reporting agencies at: www.annualcreditreport.com you get a free copy every year from each of the 3 credit reporting agencies.

• Leave extra ID at home. Sure, you need your driver’s license, but do you need your passport, Social Security Card, or birth certificate? Make sure that you don’t carry more ID than you actually need. Do a quick inventory of your wallet or your purse and make sure you don’t have any unnecessary identification. For a little extra protection, leave your important documents in a fireproof safe in your home so you’ll always know where they are. Having your purse stolen is never fun, but it’s even scarier if it contains all of your personal information.

• Memorize your PIN numbers. Never, never write down your PIN numbers. Keep them in the safest place possible: your head. If you absolutely must keep your PINs written down, don’t carry them with you. Keep them at home in a secure place or shred them once you know them by heart.

• Say “Cheese.” Get ready for your close-up and opt for a debit card and/or credit card with your picture on it. It’ll make it that much harder for an ID thief to get away with using your name. For a little extra security, instead of signing the backs of your cards, write “CHECK ID” instead: Most retailers will honor that request and ask to see a driver’s license before using the card.

• Place a “credit freeze” on your credit report. Really want to give identity thieves the cold shoulder? Freeze your credit. Contact the three major credit reporting agencies, and request a credit freeze (sometimes called a “security freeze”). When you’ve got a freeze on your credit, it means that creditors and lenders cannot view your credit report without your permission. If someone applies for credit in your name, you’ll be notified. Keep in mind that a credit freeze costs around $10 per reporting agency (and about the same amount to remove the freeze), but the extra peace of mind is well worth the price.

• Don’t get reeled into a monthly fee. Many companies offer fee-based, monthly credit monitoring services that promise you protection against ID theft for a “low” monthly fee. Don’t buy it. At best, you’re spending unnecessary money; at worst, you’re just, plain getting ripped off. You can protect your credit yourself long term using a credit freeze for $10 and a letter to the credit reporting agencies.

• Take your bills to the post office. Avoid putting checks in your home mailbox if possible, especially if you don’t have a locking mailbox. If you’re mailing bills, it’s best to drive to the post office and drop them in the box where they’re safe from the prying eyes of ID thieves. Or, pay your bills online through your bank’s secure website, and you don’t have to worry about your check getting lost in the shuffle.

A few precautions like these can make all the difference when it comes to protecting yourself from identity theft. In any economy, a little protection can save you from a lot of undue stress.