Staying safe online is no longer just about avoiding obvious scams or suspicious emails. Today’s digital threats are more subtle, more convincing, and more persistent, often relying on social engineering and small lapses in judgement rather than technical exploits.
Good security hygiene means developing everyday habits that reduce risk over time. This is especially important when it comes to banking, investing, and financial apps, where a single mistake can have real and lasting consequences.
Strong security habits are also part of understanding what you can realistically afford and protect over the long term, which is why it helps to think about financial decisions through a broader lens rather than just monthly payments.
For a broader overview of online safety best practices, the Government of Canada also provides guidance on protecting personal and financial information online.
Below are practical security hygiene habits that can significantly reduce your exposure when managing money online.
1. Enable multi factor authentication on every account that supports it
Multi factor authentication, often called MFA or 2FA, is one of the most effective security tools available. It adds a second step to the login process, usually something you have rather than something you know.
App based authenticators are strongly preferred. Options include Ente Auth, Authy, Microsoft Authenticator, and Google Authenticator. SMS based codes are considered weaker, but they are still far better than having no additional protection at all.
If there is one habit to adopt immediately, this is it.
2. Use a password manager and never reuse passwords
Every online account should have a unique, strong password. A password manager makes this realistic.
Popular options include Bitwarden, 1Password, Dashlane, and KeePass. These tools generate and store complex passwords so you do not have to remember them.
The benefit is simple. If one website is compromised, your other accounts remain secure because they do not share credentials.
3. Enable biometrics on your phone and apps where available
Fingerprint and facial recognition are not just about convenience. They add an additional layer of protection, particularly if your device is lost or stolen.
Most modern phones and many financial apps support biometrics. When combined with a strong device passcode, this significantly reduces the risk of unauthorized access.
4. Prefer credit cards over debit for everyday spending
Where possible, use a credit card instead of debit, cash, or e transfers.
Credit cards offer stronger fraud protection and chargeback rights. If something goes wrong, you are typically disputing the financial institution’s money rather than your own. Debit transactions and e transfers often have fewer recovery options once funds are gone.
This only works if balances are paid in full and spending remains within your means, but when used responsibly, credit cards offer both protection and flexibility.
5. Use official mobile apps for banking instead of web browsers
When interacting with financial institutions, dedicated mobile apps are generally safer than web browsers.
Browsers change frequently, extensions can introduce risk, and computers are easier to compromise than modern phones. Financial apps are more tightly controlled and often include built in protections that websites cannot enforce.
This applies whether you are on iOS or Android.
6. Keep your phone and apps up to date
Security updates matter. Turn on automatic updates for both your operating system and apps.
If your phone is more than five years old, check whether it still receives security updates. If it does not, replacing the device is often the most responsible security decision, even if the phone otherwise works fine.
Outdated software is one of the most common entry points for compromise.
7. Be cautious about who uses your devices
Do not share your phone or primary computer user account with children or others.
If a child needs access to a device, create a separate user profile with appropriate controls. Even well intentioned use can result in accidental downloads, permission changes, or exposure to malicious content.
Your financial information should always be behind a dedicated user account.
8. Understand platform differences without becoming complacent
Malware exists on all platforms, including Android and iPhone. That said, Apple’s restrictions make certain types of compromise more difficult.
On Android, avoid enabling the option to install apps from untrusted sources. If you must enable it temporarily, disable it immediately afterward and double check the source.
Regardless of platform, most real world incidents rely on persuasion rather than technical exploits.
9. Enable purchase and login notifications
Transaction alerts can feel noisy, but they provide early warning.
Enable notifications for purchases, logins, and password changes wherever possible. The sooner you know something is wrong, the easier it is to lock accounts, reset credentials, and limit damage.
10. Never share personal or financial information over unsolicited calls
If you receive a call asking for personal or financial details, do not provide them.
If the call claims to be from your bank or another trusted organization, ask for an extension number and hang up. Do not call back using the same number. Instead, look up the official contact information and initiate the call yourself.
Phone number spoofing is cheap and common.
11. Protect AI and productivity tools that may hold sensitive information
Many people now interact regularly with AI tools, note taking apps, and cloud based productivity platforms.
Treat these like any other account that may store sensitive information. Use strong unique passwords, enable MFA, and be mindful of what you share. Financial details, identification numbers, and private documents should be handled carefully even in tools that feel informal.
12. Be cautious with unsolicited phone calls asking for personal information
If you receive an unexpected call claiming to be from your bank, a credit card company, the CRA, a technology company, or any other trusted organization, do not provide personal or financial information during the call.
If the matter is legitimate, ask for a reference or case number and end the call. Then look up the official contact number yourself using the organization’s website or mobile app and initiate the call on your own. This puts you back in control of the interaction and avoids the risk of phone number spoofing, which is inexpensive and widely used.
Legitimate organizations will not object to you verifying their identity through official channels, and taking this extra step can prevent serious financial and identity-related consequences.
Final thoughts
Good security hygiene is not about paranoia. It is about consistency.
Small habits, applied across your devices and accounts, dramatically reduce risk over time. This is especially true for financial accounts, where prevention is far easier than recovery. Taking a broader view of your financial life, including what you can realistically afford and protect over the long term, helps reduce stress and avoid situations where a single mistake creates lasting consequences.
If you found this helpful, consider sharing it with friends or family members who manage their finances online. A few small changes can make a meaningful difference.
