5 Ways To Protect Your Hard Earned Money

We all work hard for our incomes, and there’s nothing worse than wasting money or having to pay hidden fees! Below I’ve included 5 things that I do regularly to protect my own money, and hopefully they will help you too!

1. Check Your Credit Report 3x a Year

I don’t know why I didn’t think of this before, but one of my readers told me that she checks her credit score three times a year. I always checked all three reports from the reporting agencies at the beginning of each year, just to make sure nothing was awry. However, spacing it out and checking just one of them every 3-4 months means that you can check your identity all year round!

2. Change Passwords Often

Even though my passwords should be relatively safe, I always change them often. I also try to avoid logging on to too many important sites when I am in a public place, like a coffee shop, because someone could have super ninja spy tools to see my information. Maybe it sounds paranoid, but it’s unfortunately not outside of the realm of possibility.

Lance’s Two Cents: Another great password tip is to never use the same password in more than one place.

3. Have Multiple Bank Accounts

Over 8 years ago, my family and I went through a really, really hard time when Hurricane Katrina devastated our home. It’s amazing how much destruction a natural disaster can inflict on an area and for such a long time too. My parents had a local bank and a nationwide bank. They couldn’t access their funds from the local bank for weeks. All of the little small town offices were flooded, and no one was going to work. Luckily, they had credit cards and other ways to get cash, but they would have been out of luck had they only banked locally. For that reason, I spread out my accounts to many different carriers.

4. Add to Your Investments

One way to protect your money now and in the future is to continually add to your investments. One time purchases or just leaving cash in your IRA instead of taking the extra step to invest it can definitely affect your long term savings goals. You should also monitor it to make sure the funds you chose are working well for you and helping you grow wealth. Don’t set it and forget it. Your future is too important.

5. Avoid Fees

Another way to protect your money is to always be aware of fees and useless add ons. You can avoid these by asking lots of questions when you open an account and bluntly asking whoever is helping you if there are any extra fees or terms you should be aware of before doing business with them. If you happen to see an extra fee on a bill, don’t be afraid to call and ask about it. I do it all the time!

Ultimately, there are many ways to protect your hard earned cash. With a little bit of vigilance and some smart savings techniques, you can do your best to ensure that your money will be safe now and into the future.

What am I missing? What are some other ways to protect your money?

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About Catherine Alford

Catherine Alford is a personal finance freelance writer who received a B.A. from The College of William and Mary and an M.A. from Virginia Tech. She enjoys sharing her adventures on her blog, www.BudgetBlonde.com.


  1. I agree in changing passwords often and avoiding logging into important websites when you’re on the public area. I remember my friend before, she complained that her bank account online was hacked.

  2. Checking for fees definitely help even if they are small. We have a HELOC at our bank which we’ve fortunately never needed to use. It carries a $20 annual fee so each year when the statement arrives charging the fee, I call that department of the bank and ask them to waive the fee, which they’ve always done so far. Checking your credit report is a good idea but I’m embarrassed to say that we don’t do that regularly.

  3. Bryce @ Save and Conquer says:

    Good basic tips. I especially agree with avoiding fees. I certainly don’t want to pay someone for the privilege of using my money.

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