Minimalist Lifestyle Blog
  • The Hacking Economy
  • Tracy Freese
  • entrepreneurlife coachminimalist technology
The Hacking Economy

Recently, I dropped by a website owned by an inspiring financial coach named Liz Crystal. Liz writes a fun blog called "Financially Fit in 5" which allows visitors to drop in for five minutes, read a quick juicy blog morsel, and become more financially literate. Listen to Liz's claim to fame:

I was a stay at home mom trying to make the money work. I started educating myself in personal finance, reading, listening to other, and asking questions. Soon people came to me to ask questions, and the next thing I knew people were willing to pay me to help them. That was 14 years ago. The story of my business journey was published in a book Entrepreneur Intervention. My client list is always confidential, and my firm handles our work with the utmost discretion.

So, I decided to get financially fit in 5 by reading an article titled It Takes a Thief (or a Hacker). The advent of the Internet has opened endless avenues for development, but at the same time, cyber-theft has become much easier. With finances, personal and professional life interconnected to the web world, and mobile technology at an all time high, stealing information is not a big deal anymore. Phishing and fraudulent cases are at an all-time high. Did you know that 83% of direct financial costs are a result of fraud, repairs, data-theft and data-loss? Crazy. 

I personally was attacked by a phishing scam just a few months ago. As a savvy Internet entrepreneur, I should have known better, but even I was tricked by this sophisticated replica of my normal Internet surfing.

By definition, phishing is the attempt to acquire sensitive information such as usernames, passwords, and credit card details (and sometimes, indirectly, money) by masquerading as a trustworthy entity in an electronic communication.
The end result of my own phishing escapade was me being locked out of my website portal, the hacker removing my PayPal account, attaching his or her own, and me losing all available funds. As Liz Crystal eludes, hacking attempts aren't always out for money, they can also steal sensitive information from your website and face-to-face.


  • Information read by unauthorized people
  • Loss of data by theft of identity
  • Tapes lost during storage
  • Intentional deletion or information modification
  • Unsecured desktop or portable devices

Now, the focus has been shifted from computers to mobiles. These days, mobile phones are the key to financial lockers. Today, potential hackers target cell phones since so many people do many of their financial transactions online through their mobile phones. The present generation is in need of a strong cyber security system more than ever. Each and every year an improved version of anti-virus offers better protection and security. Nowadays our phones have technology better than what the desktop computers had 3-4 years back. Are you protecting your cyberself? My eyes have been opened thanks to a quick five minute blogging workout!

  • Tracy Freese
  • entrepreneurlife coachminimalist technology