Protecting Your Account: The Basics

Rachel Statzell • October 7, 2023

Share this article

Protecting your account is easy...

Years ago, protecting your personal financial information was as easy as keeping your checkbook and bank statements in a secure location, but today it isn't that simple. Technology has forced most people into doing their shopping, banking, and even record-keeping digitally. Moving from the 'paper and pencil' to 'password' age can be overwhelming. Here is are some quick and easy ways you can keep your information safe on the web, lowering the chances that fraud will invade your life.

Dynamic Passwords - The first line of defense to any account you have online is your username and password. Really, just your password is what matters. Nope, "password1234" no longer suffices; you have to get more creative. The best passwords have a variation of uppercase and lowercase, at least one number, and one symbol. Along these same lines are your security questions. Keep them unpredictable and difficult to guess whenever possible. Get creative with your answers!

Unpredictable PINs - Another security feature that should be a primary gatekeeper to your account is your pin. Typically, 4 digits, there are exactly 10,000 combinations of numbers to choose from. For the average person, that is more than enough to come up with something creative. We always seem to default to the easy PINs. Birthdays, anniversaries, or even the last 4 of our social security number. This is exactly what a hacker is going to try first. When choosing your pin, go for something that is outside of your personal life, something harder to guess. And beyond all that, NEVER GIVE OUT YOUR PIN TO ANYONE, ever.

Two Factor Authentication - Two-factor authentication is an added layer of security that is offered by most apps and websites. This is the practice of sending a one-time code to an email or phone number so that even if your password is stolen, there is another level of protection for your private information.  It is suggested that you use this wherever it is offered.

Watch your Wi-Fi - Wherever we go, there is usually a wi-fi connection available. Some internet providers like Comcast advertise that there is always a hotspot open for their customers. It is very tempting to use a nearby connection if you are out and about and need a faster connection, but this is where you can unknowingly get yourself into trouble. By connecting to an insecure wi-fi, you are essentially opening up your entire device for hackers to look into and steal whatever they want. Go for reputable, password-protected wi-fi connections.

Keep your software up to date - Always ensure you are installing those software updates on your electronic devices. Most times, they are released with the latest enhancements to protect your phones and tablets from loopholes that hackers have found. These updates close those loopholes and provide yet another level of protection to your electronics.

Check your accounts frequently - The best way to see what is happening in your different accounts is to check them. By regularly checking the activity on all your accounts (more often than just when your statements come),  you will catch any suspicious activity right away, before hackers have a chance to do major damage.

Use banking app features wisely - Coupled with tip #6, using the features provided by your financial institution or credit card app is an easy "set it and forget it" way to keep on top of your transactions. Many apps now have notification features that you can customize to let you know by text and/or email every time you make a purchase, or when a deposit/withdrawal exceeds a predetermined limit. This eliminates the need to check each of your accounts often, and you can still trust that you will know when unusual activity may happen. (Still check your accounts often, though!)

Use trusted apps - Fraud can come at a consumer from multiple fronts. One of the more popular ones right now is by deceiving users into thinking the website or app they are on is trusted and safe, or by creating copycat versions of popular websites and apps. We go into deeper detail about how to spot a fake website here. Whenever you are shopping online (through a website or app), check the web address, look for misspellings or other anomalies that will tip you off that wherever you are browsing is not authentic. If anything seems suspicious or off, uninstall the app and leave the website. Try again to find the trusted website or app that you were looking for.

Bottom line...

Protecting yourself against fraud can feel like an impossible task. By creating dynamic passwords and PINs, utilizing in-app safeguards, checking your account activity regularly, and going the extra mile before entering your payment information, you can create a space where you lower your overall risk of falling victim to fraud.

Recent Posts

The Klontz Money Script Inventory infographic with four colored financial behavior quadrants
By Rachel Statzell August 20, 2025
The Klontz Money Script Inventory outlines the different ways people look at money and how that informs their saving and spending habits.
Lone hiker in an orange jacket walking along a snowy mountain ridge in falling snow
By Rachel Statzell August 11, 2025
Debt Snowball and Debt Avalanche are two different approaches to effective debt management and debt payoff. Each offering different methods to manage overwhelming debt.
By Rachel Statzell May 7, 2025
Get to know the in's and out's of becoming or electing a Power of Attorney for your financial future.
By Rachel Statzell April 23, 2025
Buying a used car can be a very stressful time. Read this blog and be prepared when shopping for your next vehicle. Buying used has benefits most don't realize!
By Rachel Statzell April 14, 2025
Use this blog as a guidepost to filing your Federal, State, and Local taxes every year. Don't forget a thing with our tips and reminders!
By Rachel Statzell February 13, 2025
Tips to recognize and avoid romance scams and how to protect your finances from exploitation.
By Rachel Statzell July 17, 2024
Looking for free or low cost adventures for your family in Montgomery County, PA? Click here to see the list of fun activities we compiled just for you!
By Rachel Statzell July 11, 2024
Explore tried and true ways to start saving money.
By Rachel Statzell July 9, 2024
Budgeting can be difficult, but with this blog you will be quickly on your way to saving for your next big trip or purchase!
By Rachel Statzell January 31, 2024
Planning for expenses that change from month to month can be challenging. Take a look at these tips to make it a little easier.
By Rachel Statzell January 24, 2024
Knowing which expenses are a regular part of your budget is essential to successfully managing your money. Learn what fixed expenses are, how to track them, and how much room in your budget you should allocate for them.
By Rachel Statzell January 17, 2024
Read to discover what red flags your budget may have, and how to easily fix them to get you back on the path to financial wellness.
By Rachel Statzell January 10, 2024
Gift card scams are becoming BIG problem in the fraud world. Here's what you need to know and how to avoid a gift card scam.
By Rachel Statzell January 3, 2024
The best way to protect your information is multiple layers of authentication. Learn about Two Factor Authentication (2FA) and how to make it work for you
By Rachel Statzell November 18, 2023
Take a look at all your digital information out there, and asess your fraud risk, then use this checklist to get your accounts secured with our Fraud Prevention Checklist
By Rachel Statzell November 18, 2023
Four simple tips that will make your black friday shopping trip easier, more fun, and less stressful.
By Rachel Statzell November 9, 2023
Setting up secure password practices will save you from fraud later. Read now to discover how to make it a reality
By Rachel Statzell November 8, 2023
Traveling is stressful enough, without fraud slipping in and ruining your day. Plan ahead and read this to learn the latest travel scams and how to avoid them.
By Rachel Statzell October 25, 2023
Recognizing the traits of the most common scams is the first step in protecting yourself against fraud.
By Rachel Statzell October 18, 2023
Learn the tips to differentiate between a legitimate website and a fake or imposter one.
By Rachel Statzell October 4, 2023
If you are new to the concept of financial fraud and scams, read this to "get in the know" and become an expert in protecting your own finances.
By Rachel Statzell September 27, 2023
Getting to know credit card interest
By Rachel Statzell September 20, 2023
When it comes time to choosing a credit card, there are many factors that must be considered. In a few easy steps we explain how to find the best fit for your spending habits and financial goals.
By Rachel Statzell September 6, 2023
When choosing a credit card, all the new vocabulary can be intimidating. Here is a comprehensive list of concepts you should know before opening a credit card.
By Rachel Statzell August 28, 2023
They say money creates happiness, but is that true? Take a look at five financial bad habits that you may be doing already, and how to break them.
By Rachel Statzell August 25, 2023
Some questions you can ask yourself when considering opening a Certificate of Deposit.
By Rachel Statzell August 25, 2023
Here are the 5 things you should know when researching a financial institution to open a checking account.
By Rachel Statzell August 25, 2023
Vacations take time to plan, but why don't we take time to save for them also? Here are four reasons why you should start saving NOW for your next getaway!
By Rachel Statzell August 25, 2023
Putting money away in a savings account is a good thing, however interest rates on a traditional savings are often very low. Here are different ways you can turn those pennies into dollars!