How secure is your financial information? Let’s do a little test: Do you currently have a budgeting app installed on your phone? Statistically speaking, there’s a good chance you do.

Seventy-five percent of smartphone owners have tried at least one. It seems like a smart move to take control of your finances, right? Unfortunately, what many people don’t realize is that apps like these could be exposing your sensitive financial data.

That’s just one example. There are other common habits and oversights that could leave your financial data wide open to cybercriminals. 

Mistakes like these don’t just jeopardize your bank account, they can lead to devastating consequences like identity theft, mounting debt and even shattered retirement plans. I’ll walk you through the five biggest mistakes that could be putting your financial future at risk, and, more importantly, how to avoid them.

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The 5 biggest mistakes you should avoid

Navigating the digital world can be tricky, especially when avoiding common pitfalls that compromise your privacy and security. Here are the five biggest mistakes you should avoid:

1. Neglecting security measures

This is one of the biggest pitfalls many of us fall into. There are so many things we have to do these days to keep our online security up to par. It’s easy to grow complacent, essentially leaving the door wide open for cybercriminals to walk through. Here are the basics you should never forget to follow:

Enable two-factor authentication (2FA) everywhere you can, especially online accounts that hold your financial information.

Keep your software updated. Hackers exploit known weaknesses in old versions of apps, operating systems and even browsers. So, be sure to regularly update your software on all your devices.

Avoid using public, unsecured networks, especially when accessing sensitive accounts like online banking or even e-commerce. If you have no other choice, use a trusted VPN to encrypt your online activity, including financial information. For the best VPN software, see my expert review of the best VPNs for browsing the web privately on your Windows, Mac, Android and iOS devices

A woman scrolling on her phone  (Kurt “CyberGuy” Knutsson)

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2. Reusing passwords

Though technically a security measure, this one’s so bad, it deserves its own spot on the list. A recent survey revealed that more than half of Americans reuse passwords on at least some of their accounts. Make sure you’re not one of them.

When hackers compromise one account, they don’t stop there. They use a technique called credential stuffing, by which stolen login details are tested on other platforms. So, if you’ve reused the same password for your bank account, email and favorite shopping site, one data breach can take them all down in one fell swoop.

If you don’t have a perfect memory, capable of memorizing every password you’ll ever need, I recommend using a trusted password manager. They can generate and store complex, unique passwords for all your accounts so you don’t have to remember them yourself.

A woman working on her budget  (Kurt “CyberGuy” Knutsson)

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3. Using budgeting apps

Budgeting apps can be a convenient tool for managing your finances, but they also come with potential risks that many users overlook. These apps often share user data with third parties and may request extensive permissions, including access to sensitive personal information. This can raise concerns about privacy and data security, especially if the app lacks robust safeguards. Before using a budgeting app, it’s crucial to carefully review its permissions and data-sharing policies to protect your financial and personal information.

Instead of relying on a budgeting app, consider utilizing your bank’s online tools. Many banks offer built-in budgeting and expense-tracking features within their secure online banking platforms. These are typically more privacy-focused than third-party apps.  Here are some examples:

Bank of America: Offers interactive charts that break down spending trends, highlight budget categories and show total monthly spending with customizable categories.

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Wells Fargo: Features a package called My Money Map, which includes spending reports, personalized budget creation, goal setting and visual analysis of spending compared to budget limits.

Capital One: Provides automated budgeting tools through its 360 Checking account, allowing customers to track and categorize expenses automatically. It also features Eno, a virtual assistant for transaction inquiries.

Chase: Offers built-in budgeting tools that seamlessly integrate with your accounts. This includes features like automatic expense categorization, spending insights and personalized budget tracking. With Chase, you can also set savings goals and monitor your progress directly through their mobile app or online banking platform.

Huntington National Bank: Offers several in-app budgeting tools, including Spend Analysis for expense tracking, Spend Setter for setting category limits and Look Ahead Calendar for visualizing upcoming payments.

Regions Bank: Provides a suite of budgeting tools called My GreenInsights, accessible via mobile app and desktop, allowing customers to track expenses, set spending targets and receive suggestions for reducing expenses.

These bank-provided tools offer the advantage of being integrated directly with your accounts, potentially providing more accurate and up-to-date information while maintaining a higher level of privacy compared to third-party apps.

If you decide to stick to a budgeting app, though, make sure to check its privacy section on the App Store or Google Play, where you can see what data it collects and shares. Then, read the app’s privacy policy carefully, as tedious and often deliberately overcomplicated as that can be.

A man using his phone and laptop to work on his budget     (Kurt “CyberGuy” Knutsson)

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4. Shopping anywhere online

Online shopping is convenient and tempting, especially during major sales events like Black Friday. But diving headfirst into deals without knowing the retailer could cost you more than you bargained for.

When you shop on unfamiliar websites, you’re sharing sensitive information like your financial data, address and contact details. If the retailer doesn’t have strong privacy or security measures in place, this data could end up in the hands of cybercriminals or be sold to data brokers.

Even popular retailers aren’t always safe. For instance, platforms like Temu, which attract millions of shoppers, have faced scrutiny for questionable data practices. Popularity doesn’t guarantee good privacy or security standards. To protect yourself, shop only on websites with a solid reputation for security and privacy. Here’s how you can verify a site before making a purchase:

• Check their privacy policy to understand how they collect, use and share your data.
• Read consumer reviews to spot red flags, like poor customer service or complaints of data misuse.
• Whenever possible, use a virtual credit card or payment service like PayPal to add an extra layer of protection for your financial information.

A man using his phone for budgeting purposes  (Kurt “CyberGuy” Knutsson)

5. Allowing data brokers to keep and sell your information

Unless you go completely off the grid digitally — no internet, online accounts or smartphones — it’s nearly impossible to avoid leaving a digital footprint. Most companies collect and share your personal information, which ends up in the hands of data brokers and people-search websites that aggregate and sell it to even more third parties.

Data brokerage is a $245.8 billion industry that profits off your personal information at the expense of your privacy and security. Some data brokers have even been caught intentionally selling information to scammers. People-search sites also provide an accessible way for anyone, including fraudsters, to get their hands on your personal information.

To mitigate these risks, it’s crucial to periodically remove your information from these databases. While it’s not a perfect solution, consistent removal can significantly reduce your exposure and safeguard both your financial data and personal safety. Check out my top picks for data removal services here. 

Kurt’s key takeaways

From my experience, it’s easy to overlook these risks in our fast-paced, convenience-driven world. But taking just a few minutes to review your security practices can save you from a world of trouble. Don’t wait until it’s too late to protect yourself and your loved ones. Neglecting basic security like two-factor authentication, reusing passwords or shopping on untrustworthy websites can leave you exposed. Using finance apps that share your data, like allowing data brokers to profit off your personal information, also increases your risks of experiencing fraud and identity theft. By staying vigilant, you can protect both your finances and your loved ones.

Have you made any of the mistakes on this list, or do you have others you’d add? Let us know by writing us at Cyberguy.com/Contact

For more of my tech tips and security alerts, subscribe to my free CyberGuy Report Newsletter by heading to Cyberguy.com/Newsletter

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Asus has announced the Asus NUC 14 Pro AI, the first Copilot Plus-capable AI mini PC that crams an Intel Core Ultra 9 processor into a form factor resembling a black M4 Mac Mini. First introduced at IFA in September, Asus is providing a little more detail about the mini PC’s specs than it did before, but still isn’t saying it will become available or how much it will cost.

The NUC 14 Pro AI will come in five CPU configurations, from the Core Ultra 5 226V processor with 16GB of integrated RAM to a Core Ultra 9 288V processor with 32GB of RAM. The company says it has up to 67 TOPS of GPU performance and 48 NPU TOPS, and that its M.2 2280 PCIe Gen 4 x 4 slot supports 256GB to 2TB NVMe SSDs.

All of that is packed into a PC that measures 130mm deep and wide and just 34mm tall; comparatively, the Mac Mini is 127mm deep and wide and 50mm tall. Here are some pictures from Asus’ website:

The Asus NUC 14 Pro AI features a fingerprint sensor on top and a Copilot button on the front for speaking voice commands to Microsoft’s AI assistant. Also on the front are two USB-A ports, a Thunderbolt 4 port, a headphone jack, and a power button. Around the back, you’ll find a 2.5Gbps ethernet jack, another Thunderbolt 4 port, two more USB-A ports, and an HDMI port. For connectivity, it features Wi-Fi 7 and Bluetooth 5.4.

Asus still hasn’t said when the NUC 14 Pro AI will be available, nor how much it will cost.

Are you tired of the endless hassle of counting calories and manually logging every meal? 

Say goodbye to the frustration with The Drop, the world’s first fully automated nutrition tracker. 

This groundbreaking wearable device is designed to revolutionize how you monitor your diet, making nutrition tracking effortless and intuitive.

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What is The Drop?

The Drop is a wearable nutrition tracker powered by innovative Nutri Track technology.

It automatically records everything you eat throughout the day and syncs seamlessly with its companion app, eliminating the need for tedious manual food logging. Whether you’re tracking calories, macronutrients or overall dietary habits, The Drop does it all for you.

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How The Drop works

The Drop uses advanced computer vision and artificial intelligence to detect meals with remarkable precision. When you start eating, the smart AI chip activates, and a 4K camera takes a cropped image of your meal. This image is sent to the cloud, where sophisticated algorithms analyze it to calculate calories, protein, carbs, fats and micronutrients. The nutritional breakdown is then instantly displayed in the companion app, giving you actionable insights into your diet.

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Say goodbye to manual logging with The Drop

Traditional nutrition tracking tools often rely on you manually logging every meal or snack, which can feel overwhelming and unsustainable. The Drop eliminates these challenges by providing:

Automatic tracking: No more forgetting to log meals or snacks.

Accurate insights: Advanced algorithms ensure precise nutritional data.

Effortless use: Simply wear it and let it do the work for you.

By acting as a personal nutritionist in your pocket, The Drop empowers you to understand your eating habits and make informed dietary decisions without stress or effort.

The Drop’s companion app  (Kickstarter)

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The companion app: Rex Premium

Included with The Drop is lifetime access to Rex Premium, an AI-powered nutrition app that enhances your tracking experience. The app offers personalized meal plans tailored to your specific dietary goals and seamlessly integrates with Apple Fitness and Google Fit to provide a holistic approach to health tracking. 

You will have access to a curated collection of recipes that match your individual preferences and dietary needs. The comprehensive dashboard allows for seamless monitoring of nutrition, workouts, sleep and overall wellness, all consolidated into a single, user-friendly interface. While the official release of the Rex app is scheduled for the second quarter of 2025, early beta testers will be granted privileged access to explore and utilize the app’s features before the the general public launch.

The Drop’s companion app  (Kickstarter)

The Drop: Where style meets functionality

The Drop is designed for both functionality and style. It can be worn as a pin or pendant using a magnetic clasp or premium leather band. Weighing just 27.6 grams, it’s lightweight and comfortable enough for all-day wear. Available in three colors — metallic blue, matte black and gold — it’s as sleek as it is practical.

The Drop in three colors  (Kickstarter)

Technical specifications

The Drop packs impressive technology into its small frame. Its dual-core 32-bit processor operates at an efficient 240 MHz, providing robust performance for advanced nutrition tracking. The device features comprehensive wireless connectivity, including a complete 2.4GHz Wi-Fi subsystem and Bluetooth 5.0 for seamless data transmission and device integration.

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A high-resolution 4K camera serves as the primary sensor for capturing meal images, complemented by an integrated microphone for additional functionality. The memory configuration includes 8MB of PSRAM and Flash storage with an onboard SD card slot supporting up to 32GB of expandable memory, ensuring ample space for data storage and processing.

Kickstarter campaign and rewards

The Drop is launching through a Kickstarter campaign that offers exclusive rewards to early backers. For a pledge of $199, supporters will receive The Drop device, which comes with a lifetime subscription to Rex Premium, the companion app valued at $19.99 per month. 

This subscription provides access to advanced features and personalized nutrition insights. Early backers will also enjoy the privilege of beta testing, gaining access to The Drop and its features before the general public release. Each backer’s package will include The Drop device, a premium leather band, a magnetic pin clasp and a USB-C charging cable. The campaign anticipates shipping the Drop to backers by the fourth quarter of 2025.

A woman wearing The Drop  (Kickstarter)

Kurt’s key takeaways

With its advanced AI-powered technology and seamless integration with Rex Premium, The Drop eliminates the stress of manual logging while providing accurate insights into your diet. Whether you’re looking to optimize your health or develop better eating habits, The Drop offers an effortless solution tailored to modern lifestyles. By supporting its Kickstarter campaign, you’ll not only gain access to this cutting-edge device but also join a community dedicated to transforming how we understand and manage our nutrition. With its official release planned for the fourth quarter of 2025, The Drop promises to redefine the future of health technology — one meal at a time.

Would you be willing to try a device like The Drop to simplify your nutrition tracking or do you prefer sticking with traditional methods? What factors influence your decision? Let us know by writing us at Cyberguy.com/Contact

For more of my tech tips and security alerts, subscribe to my free CyberGuy Report Newsletter by heading to Cyberguy.com/Newsletter

Ask Kurt a question or let us know what stories you’d like us to cover

Follow Kurt on his social channels

Answers to the most asked CyberGuy questions:

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Copyright 2024 CyberGuy.com.  All rights reserved.