It seems like a pretty obvious way to prevent mistakes, fraud and other false charges, but the truth is that many of us really don't take the time to go over our statements every month. With stories such as this becoming more and more frequent (thanks, in part, to the internet) it pays to spend five minutes to double-check each charge.

What do you do if you see a charge that you don't recognize? First try and contact the merchant. If the phone number listed on your statement doesn't work (which is often the case), try searching for the comoany's name online for more information. If this isn't successful contact your credit card issuer and they will send you more information about the charge, including more details on where the charge occured, what time of day it was, and the full name of the merchant. If, in fact, the charge was fraudulent or you never authorized the transaction, chances arethat you will have no problem getting your money back (most credit cards come with a 100% fraud and theft guarantee).

I know it's a pain to keep all of your receipts and match them to your statement, and most of us don't need to go that far (one exception might be those with businesses—it may be a good idea to save receipts for tax purposes). One thing I do recommend that everybody does it to save any receipts from transactions that are not made directly in front of you (e.g. when a waiter takes your credit card at a restaurant). It only takes one quick swipe with a portable credit card capturing device to steal your information, and at times like this your card is at it's highest risk. It's happened to me more than once, and I've learned my lesson!