Protect your money with these tips from the FDIC

Categories: Fiscal Responsibility,In Case You Missed It

It’s National Consumer Protection Week, and the FDIC has put together a handful of tips on how to manage your money and avoid financial frauds and scams.

The tips range from account errors to new mortgage rules, reminding consumers of the importance of saving — and protecting — their hard-earned money. So remember:

  • When it comes to credit cards, keep an eye on your bank statements and bills for fraudulent charges, never give out your payment card numbers if you get an unsolicited e-mail, text message or phone call and review your credit reports every once in a while.
  • And speaking of credit, debit and other prepaid cards, it’s important to know the difference and be aware of any fees associated with them.
  • If you do find an error in your bank statement or credit card bill, address the problem quickly to limit your liability.
  • Important new mortgage rules protect consumers from risky mortgages and help borrowers better manage a home loan.
  • Your credit score is a pretty vital component when you’re looking to make important purchases, and it can affect your ability to secure car and home loans, rent an apartment or even land a job. Make sure you pay your bills on time and reduce your overall credit card debt to improve your credit score in the long run.

For the full list of tips, click here.