Have you noticed lately that more and more companies are getting hacked and your personal information is being captured by those who would like to do us harm? By harm, I am referring to destroying your credit, stealing your money and wreaking havoc on your credit report.
Unless you flat out do not listen to the news at all, you are aware of the more recent thefts of personal information from Target, where 70 million customers had their information stolen. Michael’s has been a more recent target of hacking. You can see other companies from an article written by Forbes.
It’s not just credit card information that is being hacked. It is also your debit card information. Here are just a few of the pieces of information that they get their hands on:
- Account Number
- Pin Number
Seems to me that it’s more dangerous every day to be using debit and credit cards. The systems we have in place are being breached all the time and it falls on us to correct it when it happens. You do not even get notified a lot of the time when something happens. Recently, there was a fraud alert on my credit report from a casino. I don’t do casino’s but the only way I found out about it was when I opened a new bank account.
Use cash instead. It’s likely that the information in your bank will be pretty secure. Hopefully. Cash is accepted everywhere and you do not have to give your personal information out to use it. Another nice thing about cash is that you do not have to worry about creating an overdraft on your account. You either have the money or you don’t.
Of course, it’s hard to cut off credit and debit card use all at the same time. If you cannot do it right now, then make a plan to migrate in that direction. It is certainly convenient to pay your bills without having to write a check and get it in the mail three days early. It’s convenient to go to the store and not have to count out bills. It’s much easier to just swipe a card. Who wants to pay cash and stand at a register instead of swiping a card at the pump? I’m not even sure I want to do it with everything. However, I have already been doing it with some things. It just takes a little more planning.
Savings Challenge Update
As you know, my wife and I are saving and I think we have decided to use the money for a vacation next year. To date, our savings sits at $212.00. Still have not opened the bank account yet but when we do, I will include the account balance here. I’m excited that we can do this together.
What do you think about the hacking that has been taking place lately? It’s been going on for years but I think it is more visible today. Let me hear your thoughts on it.