3 Personal Finance Security Tips

The internet has made managing personal finances, bill pay and investments so fast and easy. With just a few taps on a keyboard you can pay all of your bills, check your portfolio, and reconcile your budget. But it is not without its drawbacks and security concerns. Today we will explore practical ways you can ensure your personal financial security.


Password Security

No company is safeguarded 100% from hacking and leaks. If you use a credit monitoring site like Credit Karma, you’ve probably gotten the odd alert that a certain site has been compromised and your username and password may have been leaked. Take these alerts seriously. Change your passwords. Strengthen your passwords and use unique passwords for each site you use. If you, like millions of others across the world, have only one password that you use for everything from banking to social media, you are putting yourself at great risk. It’s just not worth it. Keep a notebook, download a password manager, figure out what will work best for you. Just make sure you are following best practices when it comes to cyber security.


Know The Deal

If you are not the most tech-saavy user, it’s time to brush up on the scams, tricks and cons used by online predators. This means knowing what to look for in terms of malicious emails, ads and pop-ups, as well as knowing the difference between a legitimate website from one that may harm your computer or steal your information. Scammers are ever-evolving their methods. Scrutinize emails from your bank thoroughly. Pay attention to the links you click through. If the site looks legit, but the web address doesn’t match, you’re in unsafe waters. If you receive an email that is concerning, call your financial institution directly to clarify.


Check Your Credit

Sites like Credit Karma, Credit Sesame, and Mint offer credit monitoring services that will notify you of any major credit changes, inquiries and open credit lines. By tracking your credit score and inquiries you can act fast if your credit has been stolen. Having your credit stolen can create a lasting negative impact on your personal financial health, can bar you from achieving your personal finance goals and even limit career opportunities.


Your information is important. It is your responsibility to keep it safe and guarded. Education and information are the best tools to help you maintain your personal finance security.