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Keeping Your Financial Items Private

Financial safety is not only about things bought and sold. Keeping the information secure and accessible is a huge worry.
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Many options are available for both physical and digital assets that need to be kept private and protected.

How can you keep your information safe, away from hackers and thieves, and protected from the elements but still somewhere that is easily accessible when you need it?

Fireproof safe

A safe installed in your home or office will protect valuables from fire, floods or burglars. Keep important documents, jewellery, gold coins and other valuables and keepsakes in a fireproof safe. They are not expensive to buy, but keep in mind that the more you want to keep the larger (and costlier) the safe will need to be. If there is a safe in your home, everything will be available at a moment’s notice and completely protected. Canadian Tire has fireproof and waterproof safes in different shapes, sizes and prices.

Safety deposit box

A safety deposit box lets you store important documents and items at your bank. The benefit to this is that everything is at a central location and accessible to you and appointed family members. Safety deposit boxes do have an annual fee, but it is not much. The boxes are only available during banking hours.

Password manager

Just think of the advice given on passwords— keep your passwords safe, choose one that is unique and can’t be guessed, one that you haven’t used before, don’t write it down… the next thing you know, you are locked out of your account or avoiding a favourite website just because you can’t remember your password! Even if it does seem like one more thing to remember, online accounts do need to be kept secure against hackers, data breaches, companies that track you, and even against people who may go through the trash looking for information.

Password manager apps let you keep all your passwords, credit card information, and banking information inside one document, and protected by just one username and password. There are many to choose from. Monthly subscription fees provide a premium version if necessary.

Dashlane is cloud-based and BitWarden is open-source. This PCMag article reviews the best options for online password keepers for 2022.

Whether you choose apps, safes, or safety deposit boxes as your best means of protection, be sure that someone else in the family knows where it is and has access to the information. With the box, or the safe, the trusted family member should know what is inside and have the combination, key or access clearance. That way, you can be sure that everything is secure and protected.

CPC-logoThis story was made possible by our Community Partners Program. The editorial content and views expressed in the articles are not those of and the Alberta Securities Commission. Learn more.