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Lessons From a Close Call (Text)

September 18, 2024 In the middle of the night, Cory received a text alert about an unauthorized use of his debit card. Immediately, he called the bank to inquire about the recent purchase. We quickly discovered that someone had attempted to make a purchase using his debit card information. Fortunately, because we acted swiftly, we were able to stop the fraud attempt. This incident made me realize how often this happens to people. Thankfully, we didn’t fall victim, and the purchase didn’t go through. If it had, we would have been forced to wait for an investigation before having access to our funds again. This experience was a huge wake-up call, and I’m grateful we had an account alert set up, and now we have added alerts on all our accounts. Here are a few fraud prevention tips that can help protect your finances: Set Up Account Alerts: This is essential. Regular text or email alerts notify you of any activity on your account. You can monitor daily balances, set alerts for minimum dollar amounts or flag purchases that exceed a certain threshold. These alerts give you real-time information to take action immediately if something doesn’t look right. Monitor Your Bank Statements Regularly: A suggestion from our financial coach, Mee, to not just rely on alerts—review your statements closely for any unfamiliar charges. Even small amounts can be a sign that someone is testing your account before making a larger purchase. Lastly, Lock Your Cards Temporarily: Some banks allow you to lock your debit or credit card if it’s lost or if you’re concerned about fraud. This prevents new transactions from occurring until you unlock it, offering peace of mind if something feels off. Taking these proactive steps will help you stay vigilant and protect your accounts from fraud attempts. Better safe than sorry! You might also be interested in As we wrap up our Project Money experience, we want to take a moment to reflect on how far we’ve come—emotionally and financially—and share our journey... This past week, our family participated in a door and patio decorating contest hosted by our apartment management company. The grand prize? A $200 gift... Over the past year, my family has been making deliberate choices to save money and focus on our financial goals. One of those decisions recently involved... As we approach the end of our journey with the Project Money program, Cory and I (Je’Lisa) took some time to reflect on how we can apply the financial... Every now and then, life throws a financial curveball—in this case, it was a pleasant surprise. We received a refund from our gap insurance since our car... This week, we faced an unexpected hiccup with our insurance: A doctor charged us for a 2023 appointment because they had outdated information. It was frustrating... Thanksgiving is a time for gratitude, family and of course, a feast. But let’s be honest, hosting a traditional Thanksgiving can come with a hefty price... This weekend, we decided to take a quick overnight trip to Minnesota. It was to record some music and spend time with friends, but we were determined to... This month marked a milestone for our family: It was our first month without a car payment after refinancing our vehicle through Summit Credit Union. With...