#29 Don't neglect your bank account

by Jane Baker on 07 October 2009  |  9 comments
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Today's pearl of 'what not to do with money' wisdom is for anyone who banks online.

Today's pearl of 'what not to do with money' wisdom is for anyone who banks online.

#29 Don't neglect your bank account

If you bank online, how often do you check your account? Are you one of those ever-so-slightly obsessive people who can't help but give it the once over every single day? Not that there's anything wrong with that. Or, are you more likely to let the months roll by without ever checking all is as it should be?

Now I think there are two very, very good reasons why you should get into the habit of keeping an eye on your account.

Firstly, it'll give you an early warning if it looks like you might run out of cash before payday arrives. That'll give you more time to curtail your spending and stop you from slipping into the red. Monitoring your outgoings regularly will help you to become better at budgeting too.

Secondly, and perhaps even more importantly, it'll alert you to any potential fraudulent activity almost as soon as it happens. That way you can ask your bank to investigate any transactions you don't recognise, and get your account put right sooner rather than later.

Remember online banking fraud is pretty rife these days. You owe it to yourself to be vigilant.