Posted
on Tuesday, January 28, 2025
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Financial Education
Strengthen Your Digital Financial Literacy in 2025
As technology transforms the financial landscape, digital financial literacy is more important than ever. With more consumers using digital tools such as mobile banking apps, digital wallets, and online payment systems, understanding how to navigate these platforms securely and effectively is essential. This January, as we observe Identify Theft Prevention Awareness Week, we are sharing key insights to help customers stay informed, protected and confident in the evolving world of digital finance.
Keep your data safe – According to a report by J.D. Power, nearly half of U.S. consumers have used digital wallets in the past, with services like PayPal, Apple Pay and Venmo leading the way. To protect your financial information, ensure you're using strong, unique passwords, enabling multi-factor authentication (MFA) on all financial accounts, and avoiding sharing personal information online. It’s also important to be leery of email requests or pop-ups on your computer urging you to provide account information. Fraudsters are very demanding, but, for your financial safety, it’s important not to respond.
Manage spending with digital awareness – Online banking and payment systems make it easier than ever to track your spending, but they can also lead to overspending if not managed carefully. Instant payments, automatic renewals and subscription services can drain your account faster than expected. Use Alerts through Mobile Banking for real-time text notification of your transaction. Alerts allow you to take control of your finances and monitor activity so you are able to take action quickly on unexpected transactions.
Building Confidence in the Digital Age
The digital world offers unique opportunities for managing your money, but it also requires a proactive approach to ensure you’re staying secure and making smart choices. By enhancing your digital financial literacy, you can build a strong, adaptable financial foundation for 2025 and beyond. For more tips and resources, visit our Financial Education Center.
Learn More
To explore additional resources on digital financial literacy and data protection, or to discuss your financial needs, visit our website at www.boonebankiowa.com or stop by your nearest Boone Bank & Trust Co. location.