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Financial Secrets That Are Not Supposed To Be Revealed

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Financial Secrets That Are Not Supposed To Be Revealed
Rajat Mishra - 24 June 2019

You must have been brought up in an environment in which you are always given a lesson that don’t keep anything secret with you. And thus the saying ‘Sharing is Caring’ is the one that you must have listened quite often in your childhood. While it holds relevance in some instances but it does not hold much relevance at least in financial affairs. Amid the daily schedule in which your life is revolving around the metrics of multiple cards, one time passwords and card verification values, the saying ‘sharing is caring’ can bring a disaster for you. So in financial world it is advisable not to share any detail about many things to any one because it can subject you to enormous loss. So, Outlook money will tell you five personal finance information that you should never share with anyone. Otherwise you would be at risk

1. Card Details

Ever since the government pushed everyone to do transactions digitally, people are using cards, be it a credit card or be it a debit card, for shopping, for dinning and all other purposes. Thus it’s very risky to share the details of your cards. Multiple things are written on the card like the date of expiry, name, card number etc, and as many people will know your name, so, never ever share other information’s with any one. This information is used to make online transactions and act as first level of security.

2. Confidential Transaction Details

PIN

Personal Identification Number that you get, when you get a new card. PIN is a secret number provided by the bank to customers. And when you are withdrawing money from ATMs and or buying anything online at last you are asked to enter your personal identification number. And this is the last level of security. Whenever, you are entering this number at POS or ATM, be careful that no one is looking at your personal identification number.

CVV

Card Verification Value is also one of the crucial information that is needed to complete all transactions digitally. Card Verification Value is three-digit number that is written on the backside of your card. And this number also serves as the last level of security. So, never ever tell this number to any one.

OTPs

Another important information is one time password. This one time password that you get on your phone is also a last level of security that is used to complete all online transactions. So don’t get it divulged to any unauthorised person.

3. Portfolios value

What is the total worth of all the portfolios you invested in should not be shared with any one. If you started investing in portfolios at very young age, then its imperative to have good portfolio worth by the time you will turn forty. So, whatever is the worth of your portfolio whether 10 thousand or 1 crore it’s your affair only. So, you should avoid talking about your portfolios to any stranger.

Now after going through this I am sure that you must have understood it by now that how disastrous it can be for you. So from now onwards don’t speak about all the aforementioned things to any stranger and unknown person.

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