According to Forbes.com, one of the biggest trends in personal finance today is the use of financial apps. App-based services such as Venmo and Klarna are being used by more and more people to pay for merchandise, transfer money, etc. If you plan on using these kinds of apps, it helps to follow some guidelines for ensuring the security of your money and personal data:
- Keep your data private. With Venmo, you can change your settings to “private” and hide your history of transactions and your friends’ names.
- Double check to ensure the money you are sending is going to the right entity. Be sure the cell number, email, name, etc. all match to ensure the correct person receives your payment.
- Limit the amount of money you will send someone using Venmo. If something does get mixed up, then you won’t experience a significant loss.
- If you use Klarna to pay for something in installments, be sure they aren’t requiring you to pay interest. Also, ensure you don’t miss a payment so Klarna doesn’t charge you fees for missed payments.
- Enable two-factor authentication for financial apps. This makes it more difficult for a scammer to gain access to your account or your financial data.
Sage Personal Finance 