Mary Fox Luquette, MBA, CLU, ChFC Published 8:00 a.m. CT Nov. 28, 2019

Technology has made tracking our finances and paying our bills a lot easier, but it comes with plenty of its own risks, too.(Photo: Getty Images)

Technology is changing our world.The internet exposes us to exotic locations, foreign lifestyles, and different forms of government. From our living rooms we can watch any number of movies, documentaries, or historical archives with the touch of a television remotes button. We can manage our lives simply by going online.

Technology has offered us a wide array of convenience, opportunity, and information. However, it does come at a price.

Once upon a time, everyone received a pay stub or physical check on payday. It required a trip to the bank and the time needed to make a deposit. Today, we get a virtual stub through a secure email account and our pay is directly deposited. This is convenience. It also means that our accounts are subject to scams, phishing, and hacking. More security is required and multiple passwords need to be created to ensure the safety of our money.

Mary Fox Luquette(Photo: Amy Windsor)

Not long ago we had to go to the retail store for our shopping and spend hours waiting for our turn to be served by the store clerk. Today we can shop online, find just what we want, and have it delivered to our front door in a matter of days no trip to the store is necessary. We can shop from our favorite easy chair. This also means that our credit card number and our identity can be misused by online thieves.For safety purposes, it is important to monitor our credit score and our card statements to catch any felonious activity as quickly as possible.

It wasnt long ago that any banking that needed to be done, had to be done in person. Cashing a check or making a deposit were regular activities done at the nearest bank branch. Today we can take a picture of a check with our smartphone and upload it into our bank account. We have the ability to use an ATM card and withdraw cash with only a little of our time being spent on the activity. Unfortunately, scammers can mimic emails from our bank and convince us to share personal data with them. We must be vigilant on a daily basis knowing that our email can hide deceitful and malicious malware. A simple click can link a thief with our private information.

The internet is loaded with information. We can investigate the return on a stock, view legal documents, or even consult a medical professional regarding our health all from the comfort of our living room. Convenience is becoming an integral part of our lifestyle, however, it must be tempered with the knowledge that we must always be on guard against those who want to do us harm. If an online lifestyle is your goal, make sure that you have observed all of the safety protocols and stay vigilant against scammers and hackers. If you are notified about a potential breach, follow the guidelines suggested to ensure that your accounts stay safe especially the one about changing your password.

Mary Fox Luquette, MBA, CLU, ChFC is a finance instructor in the B I Moody III College of Business at the University of Louisiana at Lafayette.

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