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Make your credit cards less vulnerable to fraud

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Last year, one of my family’s credit cards was used to rack up hundreds of dollars in bogus charges at Apple.com. Another card was compromised four times in a row, as thieves repeatedly charged merchandise and Uber rides.

We ultimately got our money back, but repeated credit card fraud can be frustrating and disheartening. Dealing with the aftermath taught me to prize security over convenience, and to change some bad habits that made me an easier target.

In my latest for the Associated Press, learn how to make your credit cards less vulnerable to fraud.

This week’s money news

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This week’s top story: Smart Money podcast on investing for your family’s future. In other news: Family budgeting tips that actually work, billions spent on tax returns that could be filed for free, and 3 ways to maximize points and loyalty programs on your work trips.

Smart Money Podcast: ‘The Color of Wealth’: Investing for Your Family’s Future
This week’s episode is dedicated to a conversation about strategies Black women can use to invest for their family’s future.

Family Budgeting Tips That Actually Work
Following a family budget is challenging, especially when unexpected costs pop up, but staying flexible will help.

Billions Spent on Tax Returns That Could Be Filed for Free
About 101 million eligible filers missed out on using the Free File program, a NerdWallet data analysis shows.

3 Ways to Maximize Points and Loyalty Programs on Your Work Trips
Make sure travel reservations are linked to your loyalty accounts, especially if you weren’t the one who booked.

Family budgeting tips that actually work

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When Tom Snyder coaches people in his church about how to budget, he starts by encouraging them to track their spending.

“If we don’t track, we don’t know when to stop spending,” he says. The retired engineer and financial coach in Grand Rapids, Michigan, adds that it’s easy to be bumped off track by irregular costs, such as birthday gifts or vacations.

Successful family budgeting is all about staying flexible so you can handle those irregular costs as well as unexpected challenges, including sky-high grocery store prices or rising interest rates. Financial experts like Snyder say that by using creative methods to dial in a budget and trim costs in some areas, you can often still find ways to spend on what is most important to you.

In Kimberly Palmer’s latest for the Associated Press, learn family budgeting tips that actually work.

This week’s money news

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This week’s top story: Smart Money podcast on chatGPT vs. the Nerds, and rental properties. In other news: What new for Medicare is in 2023, economy is improving, but recession risk, inflation still hover, and small-business tax changes and tips to know in 2023.

Smart Money Podcast: ChatGPT vs. the Nerds, and Rental Properties
This week’s episode starts with testing out ChatGPT’s ability to give financial advice.

What’s New for Medicare in 2023?
In 2023, there’s a little of everything: Some costs have gone down, others have increased, and there are some notable tweaks to how Medicare works.

Economy Is Improving, but Recession Risk, Inflation Still Hover
At this point it’s still uncertain whether the U.S. is in the clear or instead glimpsing a recession on the horizon.

Small-Business Tax Changes and Tips to Know in 2023
Working with a tax professional can help you understand what tax credits you qualify for and how to claim them.

‘Bridge’ your way to Social Security

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Delaying the start of Social Security benefits is a powerful way for retirees to cope with inflation, survive bad investment markets and reduce the risk they’ll run short of money. The advantages of waiting are so great that financial planners often recommend their clients tap other savings, such as retirement funds, to help them delay claiming.

Employers could increase their workers’ financial security by offering a similar “bridge” strategy as part of 401(k)s and other workplace retirement plans, according to a study by the Center for Retirement Research at Boston College. The bridge strategy would tap a worker’s retirement account to pay amounts roughly equal to the foregone Social Security checks.

In my latest for the Associated Press, learn how to ‘bridge’ your way to Social Security.