No matter how little your money might be, it is yours, and you don’t have to lose it. Unfortunately, there are some people out there waiting for any chance to grab your hard-earned money. Whether you want to use it now, in full or in part, or you want to save or invest it for future use, make every effort not to lose a cent. Scammers and fraudsters of all kinds are all over, and they don’t care how poor their targets might be; they just want the money. The festive season is closing in on us, and that is the time scammers cash in big time. From your pockets if you don’t guard it. They know that saving clubs or stokvels will be sharing money, and people will be overexcited to finally reunite with their money, which they have been contributing since the beginning of the year. Don’t end the year in tears. Giard your money.
Don’t trust anyone.
One way people lose their money is by giving away the security credentials of their mobile wallet or banking. Your PIN or banking password code is your secret; don’t share it with anyone. It is not about the person you trust and know will not steal from you, but the scammers. You might be careful, but your child or partner might not. There have been reports of mobile money and e-wallet scams for some time now, and their modus operandi is not very different. Either they ask you to give the one-time pin that will be sent to your mobile number or they will tell you they have sent you an extra amount when paying for your goods or service, and you have to quickly return the difference. Check carefully the messages you get from these people and the way they talk you down. They will always rush you so that you have no time to scrutinise anything. When withdrawing money from the ATM or mobile services agent, make sure no one sees your pin code. Don’t even give it to the agent; just do it yourself. And when leaving after getting your cash, make sure no one is following you.
Don’t leave money in the car.
Sometimes you are tempted to leave your money in the car while you get something to drink. If you withdraw money, someone might follow you, and if you leave it in the car, you may find it gone. Only withdraw money when you are done with all your errands, and don’t withdraw huge sums of money in crowds. Once you get your cash, disappear and go where it is safe.
Keep your money safe.
Putting money under the mattress is very dangerous. Even if you are staying alone, thieves know people hide things and “save” money under the mattresses or pillows. If you have no urgent use for any cash, deposit it in your bank or mobile wallet (MoMo, e-Mali, etc.). Even if thieves don’t break in, the people you live with may “utilise” or borrow your money without your knowledge. If you are staying alone, you might still end up misusing the cash. Just don’t keep cash on you unless you want to spend it immediately. Many people don’t want to use mobile services because of charges, but it is much better to spend small money on charges just to keep the rest safe.
Protect your money from yourself.
You may not want to hear this, but you might be the biggest risk to your own money if you carry cash around. Don’t carry large sums of cash. You will not only lose it or get it stolen, but you may end up spending it unwisely. Money in the pocket always wants its way out, and you will give it the way if you are not financially wise. Generosity is a virtue, but it can leave you broke. With cash in your pocket, you may want everyone to know that you are loaded. You don’t want to buy a drink you had no intention of buying. Carry only what you want to spend. With so much development in digital payment systems, you can buy from places where you can pay using your bank card or mobile wallet, so you only pay for the transaction. Carrying cash can result in impulse buying. Your eyes will see “buy 3 for 2,” and you end up paying more than you needed. Protect your money from yourself. Lending money to someone you are not sure of their credibility and capacity to pay can just be an offering. It is better to have more enemies because people think you don’t want to lend them money than to be surrounded by people who will lie at every chance they get when you want your money back. You will not only lose your money but even those friends. Debt can destroy relationships. Keep your money away from yourself.
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