Online Financial Literacy
April 20, 2023
It is now easier than ever to keep track of your own finances on your personal devices. But without taking the proper precautions, your personal information could be compromised by hackers. That is why it is never too soon to start learning about how to protect your financial information. We have compiled a list of the essential bases to cover to help fortify your information against any unwelcomed eyes.
Always Contact an Institution Directly
Scammers will sometimes pose as “financial institutions” and reach out to you by phone or email to get your personal information and steal your identity. You should always reach out directly to the institution “contacting” you to verify that the contact is legitimate.
Shred Your Unwanted Printed Material
Shred your unwanted printed material instead of discarding old or unwanted printed financial information that could potentially land in anyone’s hands. As a service to you, we host shred events at our offices. Contact us for information on a shred event near you!
Additionally, when entering any financial information electronically, it is always good practice to use different and secure passwords with your institutions.
Update Passwords Regularly
Speaking of password security, they are your first and best line of defense, so avoid standard passwords like your spouse’s name, your pet’s name, or birth dates. It’s always a good idea to change yours on a regular basis.
Use Secure Portals
Most hacks that occur are into people’s email accounts, making it easy for hackers to intercept Social Security numbers and financial information. Using a secure portal adds an extra layer of protection to keep your identity safe.
Don’t Leave Your Passwords Near the Computer
If you have a family computer, leaving your passwords out in plain sight (like on a post-it note) can compromise the security of your financial accounts. Always make sure to practice online security at home.
Regularly Monitor Your Accounts from a Private Network
The best thing you can do to protect your financial information is to monitor your accounts about once a week and change your password about every three months. Additionally, always be sure to bank online in a secure area, like on a private home connection rather than public Wi-Fi networks that you might find at a coffee shop or restaurant.
You should have confidence that your financial information is secure, and these tips are a great way to do that! If you have any additional questions or concerns you wish to discuss with one of our advisors, please contact us for a complimentary consultation.
We look forward to meeting with you!