We all work hard for our money. Saving is an important part of building a strong future, but it’s just as important to protect that money from scams and hackers. October is Cyber Security Month and the perfect time to make sure your savings are safe.
Plan for Security
Today, protecting your online identity and your money is just as important as budgeting or setting up a savings account. Scammers may send fake emails (called “phishing”), create false investment opportunities, or even pretend to be in a relationship with you (“romance scams”). These tricks are designed to get you to hand over your money. The best defense is to recognize the warning signs and stay alert. Remember, part of saving money is learning how to keep it safe.
Keep What You Earn Safe
If your account gets hacked, your money can disappear in minutes. That’s why it’s better to prevent problems before they happen. Here’s how:
- Use strong, unique passwords. Don’t use the same one everywhere—it makes you an easy target.
- Turn on two-factor authentication. This adds an extra layer of protection to your accounts.
- Check your accounts often. Look over your bank and credit card statements for anything that doesn’t look right.
Just like we tell people to set aside money for emergencies, protecting your accounts is essential to make sure your savings are there when you need them.
Don’t Forget Retirement Accounts
Scammers don’t just go after your checking or savings accounts—they also target long-term savings like 401(k)s and IRAs. Even if you don’t check them often, you should:
- Use strong passwords.
- Keep your contact information current.
- Review your accounts for unusual activity.
This way, you’ll catch problems early and keep your retirement funds safe for the future.
Take Action
Here are a few easy steps to get started:
- Strengthen your passwords and turn on two-factor authentication.
- Regularly check your accounts for suspicious charges.
- Set up alerts so you’ll know right away if something looks off.
- Store sensitive documents safely, both online and on paper.
This Cyber Security Month, spend just 15 minutes putting these tools in place. By staying alert and prepared, you’ll make yourself a much tougher target for scammers and hackers.
