Where we prepare for the worst, and hope for the best
Cyber Attacks and Your Money
by Nikki Willhite
During the last month, there were cyber attacks to our banks from foreign countries. These attacks denied many people access to their banking by overloading the system. I check my online banking daily, so I was one of many who could not get access my bank's website to view my account, or make any transactions.
These attacks have caused many people to become concerned about their money. I don't know if these concerns are real or not. Most large companies have very sophisticated computers with extensive backup systems.
However I do see some experts predicting that there might be some problems in the future, either from viruses or other computer problems beyond my understand.
So is our money safe in our banks? And if not, what should we do?
I trust that our financial institutions are doing everything possible to protect our computers and financial records. I believe we have some of the most intelligent and well-trained people in the world protecting our computers and guarding against potential problems.
Having said that, I do believe that there are certain things everyone should do to protect their money and any situation that may arise to come between us and our money.
Here are the basics.
1. Keep an adequate supply of food and the other necessities of life in your home to ride out a short term crisis.
2. Keep a little extra cash in your home, in small and large bills. If you can't access the money in your bank, you want to have cash available to buy items where business is still being conducted.
You need a mix of both large and small bills. You do not to have to give someone a $10 bill for a bottle of water when they don't have any change.
3. Keep a paper copy of your money in banks or other saving vehicles. Make sure that it is current. If you have an online bank, be sure to print your bank statement monthly and keep it in a safe place in your home.
Finally, be sure and protect your personal computer. Have a good virus program installed on your computer, and back up your information to a travel disk (USB flash drive) and also use an online backup service to store your information.
No one can predict what may or may not happen. However we can do our part to protect our personal information.
Remember, if you get hungry, you cannot count on the government delivering a fresh loaf of bread to your doorstep. If everyone prepares and works together, we will all do better in handling any cyber attacks and potential emergencies together.
About the Author: Nikki Willhite, mother of 3 and an interior design graduate, has been writing and publishing articles on the topic of frugal living for over a decade. Visit her at www.frugalhappyfamilies.com - where you will find hundreds of frugal living tips and articles. Frugal Happy Families- more than just money!
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