Finance data on your phone?

Something we all use our computer for is financial data.  Accessing your bank account, investments, and paying bills is extremely convient and easy to do.  But what about your phone?  Many of us are already doing these common tasks on them.  Many seem reluctant because of concerns.  Here are the most common concerns I hear and information to maybe change the perception.

  1. My phone can be lost or stolen.  TRUE.  You are more likely to have this happen to your phone than a desktop computer. On the other hand, laptops can be stolen too.
  2. My phone can be broken.  TRUE.  Your phone is more likely to be damaged than a PC, but PCs fail too.  I would be willing to bet a steak dinner than more people have their phone backed up than their PC/laptop.
  3. Security. FALSE.  Your PC can and will be compromised. Your phone is a more secure device in every way.  Using touch id, face id, or even a pin will secure your device from even the most prying of hackers.
  4. The Cloud can be hacked.  TRUE.  The cloud is getting better, but it will always be a target for hackers.  Chances are that whatever application you are using on your PC uses the same cloud services as your phone. Choosing the right bank and service is all you can really do.

I hope this helps some who may be on the fence about using your phone.  I say do it.  I use my phone daily to monitor my money, bills, and credit reports.  It’s easy to do and usually right in my hand when I remember that I need to pay a bill.

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