Using budgeting apps can be a super helpful tool to keep track of your finances and stick to a budget to help you save or make better use of your money. Lots of people use an app to help them visualise their budget better and get tips.

When using anything which needs your personal details it is important to stay on top of it and be vigilant of any scams.

As budgeting apps often have private details and financial information in them they are a common target for hackers. There are ways to make sure this doesn’t happen to you and you can use these apps stress free.


Risks you should look out for

Make sure you take the necessary precautions to prevent fraud when you can.

  • Phishing attacks come in the form of emails or messages which can replicate the budgeting app company tricking the victim into providing personal details.
  • Weak user security makes it easy for scammers to gain access and they will prey on the fact that many people neglect the security steps, especially when its an app they need often and would rather gain access quickly, so you hackers so don’t give them the advantage.
  • Stolen devices can lead to criminals having access to your budgeting apps and you online banks. Make sure you report the crime and freeze all your accounts as quickly as you can.
  • Third-party sharing for advertising or analysis purposes make the app vulnerable. You should read through the apps policies so you can’t get caught out.


Tips to be safe

  • Use a strong password and enable two-factor authentication. Don’t keep your passwords written in your phone, even though this is common, this is how hackers or thieves can easily get into your accounts.
  • Regularly update the app to receive the newest form of security features. This will keep your budgeting app safe from the latest scam advances.
  • Avoid using public wi-fi when using the apps and aim for private and secure networks. This will prevent hackers gaining access so easily.
  • Never share your passwords or personal details, look out for phishing attempts and make sure you trust the account is legitimate before clicking on any links or tabs.