Identity theft happens to more than eight million people annually, according to statistics from 2006. This has caused an onslaught of companies offering services to prevent identity theftfor a price. There are measures that the average consumer can take on a day-to-ay basis that will go a long way to preventing identity theft. These measures include guarding your privacy and personal information, shredding your mail and outdated financial documents, monitoring your credit reports, and possibly purchasing identity theft insurance which wont stop identity theft from happening to you but will prevent identity theft from eating up your savings and ruining your credit for a long time.