The importance of online security
As more people work from home, security breaches are on the rise. According to a recent report, 20% of employees said they faced a security breach as a result of being a remote worker. Not only are people at a heightened security risk while working from home, but also, most people are not taking the proper precautions to protect themselves from real threats. One of the easiest ways for a cyber attack to occur is for someone to steal your login credentials.
According to the University of Maryland, hackers attack every 39 seconds, which is an average of 2,244 times a day! With this in mind, it’s more important than ever to create strong passwords that protect your online security.
Take a minute and do an inventory of your passwords. How many are you reusing? How do you store your passwords? And worst case scenario, how easy do you think it would be to hack into one of your most valuable accounts? Remember, your entire world, credit score, and financial future can change at the hands of a serious cyber attack. In today’s world it doesn’t make sense to keep doing what you have always done. Take a few minutes and be sure to protect yourself online.
Here are some easy tips to help you get your online security in order.
How to create a strong password
Most people find memorizing long passwords incredibly difficult. That’s why you likely reuse your tried and true old password with a few tweaks here and there. If someone truly hacks your account, your simple password is exposed, and if you’re using it or a variation of it across all your accounts, now you’ve set yourself up for failure.
In light of this, most companies urge their employees or customers to change passwords every 90 days, but most individuals forget these new passwords, sending them down the rabbit hole of figuring out the password reset procedure. Fun fact: the average person spends 10.9 hours per year resetting their passwords.
When you are prompted to change your password, here are a few best practices:
- Use a password manager.
- Opt for longer passwords, such as a long, complicated sentence.
- Don’t use old passwords, seriously.
- If given the option, always turn on multi-factor authentication.
- Don’t use hint questions for password recovery. Hackers can very easily find answers on your social media.
Although these may seem like simple steps, they’re effective methods for protecting personal data.
Why you need a password manager
Password managers are secure, online locations that store your login credentials for every website you visit. Plus, they help you log on automatically. Think of them as the digital replacement of the sticky note on your desk with all of your passwords written down. Password managers are responsible for creating complex passwords and encrypting your password database with a master password, so you only have to memorize your master password.
Password managers store all of your passwords, including credit card, bank accounts, tax returns, and more so you only have to remember one password. Just one! Setting up a password manager is worth the time and most of them are free. Yes… really, they’re free. So now there are no excuses not to use one. With 80% of hacking-related breaches connected to compromised passwords, it’s really the time to take your security seriously on your app, computer, or both.
There are many options for password managers, and many include free versions. Here are our top picks:
Give yourself peace of mind by protecting your online identity today. Most of these managers take just a few minutes to set up and you’ll get fully encrypted passwords that you can use all year long. When you protect your wealth, you’re better positioned to #GiveWealth and give back to the people and communities that have helped you reach your financial goals. For more on how to give wealth, check out our 4-week challenge and download it for free today!