A teen wiped out her family's life savings on mobile games in 4 months. Here's how to keep that from happening to you. (2024)

• A Chinese teenager spent her parents' life savings on mobile games in only four months.
• Their debit card was linked to her game, and she pulled money from their savings account.
• If you aren't checking your bank accounts regularly, an app can help.

Anyone who reads the story of the 13-year-old in China who spent about $64,000 of her parents' money on mobile games might have the same question: How?

As Matthew Loh writes for Business Insider, her parents had given her the authorization info for their debit card for an unrelated purchase; she used that info to connect the card — and her parents' savings account — to her mobile game, deleting chats and transaction records so her parents wouldn't notice and she wouldn't get in trouble.

Loh writes that the teenager told Elephant News, the Chinese outlet that originally reported the story, that although she was using the debit card, she "didn't know where the money came from or how much she was spending."

When her mom checked her savings account, there were about $0.07left.

How to protect your money from overspending

While we can't know the specifics of one family's situation, their story does make you think about protecting your own bank account. Along with keeping your authorization info secure, there are two standard practices that can quickly stop bleeding from your checking or savings.

1. Use a credit card instead of debit

Credit cards are not for everyone. They carry high interest rates and can be tempting for overspenders. However, as long as you're viewing your card as a tool for spending money you have instead of an opportunity to use money you don't (and paying your monthly balance in full accordingly), credit cards carry more protections than debit — and some of the best credit cards are free.

Credit cards allow some recourse when you notice a suspicious transaction: You can dispute the charge, and you can freeze your card. You can typically also set alerts for the credit card company to notify you of transactions over a certain amount. Because these companies are used to fraud, it's common for fraudulent charges to be reversed.

2. Choose a simple system to monitor your money

Now, the above step hinges on one thing in particular: You have to be paying attention to your money to notice a suspicious transaction.

This is easier said than done. Many people find checking in on their money to be a chore, full of half-forgotten passwords and tedious two-factor authentication. That's why experts say the first step to fixing any financial issue, whether it's paying off debt or building your credit, is to take a close look at your money with eyes wide open.

This is no secret, and it's why companies have built apps to make seeing your funds less tedious ... and sometimes even fun. Business Insider tested 18 different budgeting apps to come up with four clear winners, all of which are free or close to it. The best overall app, Rocket Money, has a Bill Negotiation feature that can help you get lower costs on services you pay for regularly.

Yes, you do still have to remember to check your money — but it will be a lot easier than it used to.

This article was originally published in June 2023.