The Complete Guide to Protecting Your Money

You work hard for your money, so you need to protect it. April is Financial Literacy Month, so there’s no better time to educate yourself on the importance of safeguarding your assets.

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If you don’t think this is a big deal, you’re mistaken. Protecting your money is one of the five key principles of financial literacy — along with earn, save and invest, spend and borrow, according to the Financial Education Commission.

Protecting your money is a multifaceted job. This involves activities like reviewing bank and credit card statements for transactions you didn’t make, purchasing comprehensive insurance policies — and understanding your coverage — and choosing secure passwords to prevent identity theft.

Already a major issue, fraud is on the rise. In 2021, the Federal Trade Commission received more than 2.8 million fraud reports, totaling more than $5.8 billion in losses — marking a more than 70% increase from 2020.

While there’s no sure way to avoid becoming a victim of fraud, knowing the steps to take to minimize your risk can literally save your fortune — no matter what the size. Along with that, we’re here to help you guard your money by ensuring you get the most for your dollar.

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Take a look at GOBankingRates’ guide to protecting your money:

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About the Author

Jennifer Taylor is a West Coast-based freelance writer with more than a decade of experience writing about anything and everything. Since earning her MBA, personal finance has been her favorite topic, as she’s passionate about writing stories that educate, inform and empower. Specifically, she specializes in budgeting, debt repayment, savings and retirement.
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