If You Are Using a Budget Tracking App, Have You Made Sure That It Is Secure?

Budget management software is nothing new. Budgeting applications have existed since the days of the Amiga home computer. However, modern mobile phones and the increasingly more user-friendly interface of current budget apps have made them more popular than ever.

The question remains though - is your favorite budget app secure and are you making everything within your power to make it even more secure?

Of course, legitimate budget apps have security measures implemented in them, much like other software and apps, but they are not impervious and user behavior can be a factor too. Security experts with PWV Consultants believe that the majority of established budget apps have a very decent level of security. The real issue, however, can be user behavior. As Pieter Vanlperen with PWV Consultants says, "people are easier to hack than machines".

No matter how secure an app is, a user who is susceptible to malicious social engineering tricks and who does not follow good cybersecurity practices will always be vulnerable. There are a few things that you can do to make sure using your budget app, or any other app on your phone for that matter, is as safe as possible.

Choose a reliable budget app

Stick with popular and trusted names and make sure you pick an app that has never been a target of a successful cyberattack or data leak. Doing research on any product you intend to buy or use is a great idea anyway and this is even more so when the product in question deals with your personal information and finances.

Use different passwords on different services

A good rule of thumb is to use a different password for every device and service you log into. This means that a potential password hack or leak will only lead to trouble with one of your accounts and you will not have to scramble in a panic to change every important password you use.

Avoid using public Wi-Fi networks

Traffic on a public Wi-Fi network can be captured and observed by bad actors and your data transfer across your budget app can be intercepted and read as well. One alternative to completely avoiding public networks is installing and running a VPN app on your device. This should provide sufficient shielding and make public Wi-Fi spots safe to use even if you need to do banking or budgeting tasks.

October 2, 2020

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