This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
You are responsible for what does and doesn’t happen to your money
I’m transient and tend to move around the country. When I moved several years ago, I experienced credit card fraud as soon as I arrived at my new destination. I believe it happened from one of the card readers used at a sketchy gas station, but not entirely sure. Another instance happened when a friend somehow used a credit card that I lost to pay for their drinks and dinner. I have no clue how that happened to this date, and they don’t either….Lastly, another person I knew took a credit card out of my name. I don’t call these situations lousy luck, just lessons. Fraud or unapproved transactions can happen between people you know and people you don’t know.
My favorite thing about credit cards is that you can usually recover fraudulent transactions. Not always, but usually. Either way, I’ve learned it’s critical to keep a vigilant watch over my accounts, so I can always know what’s happening to my money.
Choose Your Financial Institutions Wisely
But it’s also critical that you choose to bank with an institution that wants to protect you as much as you want to protect your finances. Thankfully, the institutions I work with now help keep things on lock. Sometimes I even get blocked from purchasing because of the high security.
Things can still happen whether you are with a high-security financial institution or not. Always do your due diligence to ensure things are squared away with your accounts. Another tip is never to keep all your resources in one account. Always keep your sh*t dispersed. Putting your eggs all in one basket is never a wise choice. As I often say, putting all your eggs in one basket is like betting all your life savings on a sick horse. At some point, that horse will fail you, and so will your one financial institution.
Many financial institutions indeed con their customers and often do these with tiny “bank fees” or overdraft-related processes. Still, I wonder, if a company has been found out (i.e., Wells Fargo), why go with them?
The choice is ultimately up to you. Just be sure you always protect yourself financially because it’s your money. If you don’t care about your money, others will line up to care about it more.
How often should you check your accounts? Multiple times a week. And if you have an accountant, still check. Everyone needs to be checked. If something goes wrong with your money, it’s on you. It’s no one else’s fault.
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Personal Finance | Manage Your Money More Effectively
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.