Don’t Make These 11 Common Money Mistakes

Who pays when hackers steal your money? – It’s a nightmare scenario. This woman logged in to her Google Play account to find that someone else had made thousands of dollars worth of downloads using her bank account. Now, she’s suing Google to get her money back. But, is it really Google’s fault? Susan Harvey realized her account had been compromised when she logged in to download an app. To her horror, she saw 109 transactions she didn’t know about. With a little more digging, she found a total of 650 transactions she didn’t authorize.

Don’t Make These 11 Common Money Mistakes – It’s hard to make smart money choices all the time, but at​ the very least, you can avoid some all-too-common – and expensive – errors. Whether it’s budgeting by the month, instead of the year, or forgetting to save for future emergencies, these mistakes can mess with your finances unless you take steps to correct them. Here are 11 blunders almost everyone makes and how to stop yourself from falling into the same trap.

Millennials lean more on parents (but please don’t call it mooching) – Today’s young adults are three times as likely to say they got a lot of financial help from their parents when they were starting out, compared to what their parents say they got at the same age – 36% vs. 12% – the survey finds. And 40% of Millennials say they still get money from their parents; the majority are younger Millennials, 18-25, but 22% of 26-34 year-olds say they receive financial help. Even among Millennials who are married or living with a partner, a fifth continue to get help paying for things.

How to save money: 54 great personal finance tips – Saving money is hard without a plan. Below, the best tips on how to save money from experts and media around the world. Saving for special needs – “Planning for family members with special needs can be overwhelming,” said Tara Siegel Bernard at The New York Times. For starters, your retirement savings budget might need to account for an extra person. You should take precautions, for instance, “that money set aside for your child won’t be consumed by long-term care expenses for you or a spouse.” Medicaid can provide some help; while “it is often regarded as a program solely for the poor,” it also covers “health care for people over 18 with disabilities.” A new tax-advantaged plan, called ABLE or 529A accounts, allows families to contribute up to $14,000 in annual savings for a person with disabilities, without disqualifying the person from Medicaid or other government benefits. The accounts are “expected to be easier and far less costly to set up than special-needs trusts.”

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