Not A Job For The Plumber: Surviving A Data Leak

Data has become a very important resource over the last few years. There are companies out there which are valued entirely based upon the amount of data which they hold, with companies like Instagram clocking in at millions of dollars simply because they have a large subscriber base. Of course, your small business may not be quite on this level, but this doesn’t matter when it comes to data; you have to follow the same rules. To give you an idea of the critical nature of this area, this post will be exploring some of the work which can be done to survive the chaos of a data leak.

Shifting Liability: Being personally liable for a data leak isn’t something you want to go through. Having a business properly registered will enable you to avoid this, keeping you out of trouble and leaving the focus on your company. If you fail to do this, you may need to help of a criminal lawyer like Duffy Law, as this sort of case will often go to court. There are very few reasons to keep a sole proprietorship when you are collecting user data.

Reporting The Leak: Once you have a leak occur, the first step to take is reporting it. Most regions have their own regulatory bodies which monitor and keep control over data leaks on the internet. They are much kinder when companies are honest about their mistakes, and you can often avoid fines if you manage to get to them quickly enough. While this may seem counter-productive, it’s a very serious offence to hide an issue like this.

Making Users Aware: You’ve probably had emails from services you’ve used in the past warning users about data leaks which they have experienced. This isn’t done as a simple gesture, as it can be crucial to people to know that their passwords, emails addresses, and bank information could be in the wrong person’s hands. This is best done over email and through social media, ensuring that as many people see it as possible.

Plugging The Leak: Finally, as the last part of this, it’s time to think about plugging the leak. In most cases, this will have to be done with the help of a developer and security company. You will have to be able to prove to both the regulators and your customers that you are fully secure if you want to improve your reputation and do business in the future. Of course, though, it’s essential that you go for a long-term fix.

Data leaks aren’t the end of the world when they are handled correctly. When businesses try to cover them up, though, huge fines can come with them, and this will hurt a company in a big way. Thankfully, modern technology and proper training makes it possible to avoid issues like this entirely. To learn more about this, it is worth doing some research for yourself, as there are loads of different options out there which can be used to help you to learn about this area.

Financial Freedom: Preparing For The Worst

To avoid being blindsided in your pursuit of a life that entails complete financial freedom; where the mortgage is paid off and you can choose to hand your resignation in at work if you wish and the constant daily burden of money weighing your head down is eradicated, there are other factors you should plan for aside from the main financial goal. It’s the events that could throw your hard work and effort to the winds if they’re not considered and accounted for in advance. Take a look to see if you’re covered for the below.

Insurance

It’s the unexpected that’s frightening of all when you’re living your daily life, working hard to reach your goals and then something happens. A car accident, a fall at work, slipping down the steps to the subway station, your life has taken a sudden turn for the short or long-term future. You’re disabled and wish you’d taken steps to take out insurance to cover you in invents such as this. The matter of the fact is unless you have enough savings stashed away to take care of you for 6 months, or in some cases, for the rest of your life, hedging your bets with a disability insurance company is a small price to pay.

However, don’t be entirely fooled by the notion of insurance meaning you’re 100% likely to receive a payout in a catastrophic event rendering you disabled or injured. As it’s been proven through various legal cases, you could struggle to receive such a payout when you try opening a claim especially with disability insurance, So prepare to further back yourself up in this situation too with a lawyer who knows the ins and outs of the small print concerning insurance policies. This reassurance will warrant you signing a plan that’s more likely than not to support you in a ‘what if’ scenario.

Emergency Fund

If you consider the cost you would incur if you were to become disabled next year and had to support yourself for the entirety of your life but were no longer capable of working, taking out an insurance policy is wise. But don’t solely put your eggs in one basket, squirrel away an emergency fund for the potential rainy days, weeks and months to put you ahead of any issues that may occur and protect your goal for financial freedom. From smaller issues such as a broken dishwasher to more significant issues, such as losing your job, to tragic problems such as becoming ill from cancer. Your emergency fund will tide you over during your aspiration to reach financial freedom, patching the gap and relieving you of economic concerns until you hopefully receive your claim through from your insurance company.

Cancer.Gov reported 1,735,350 new cancer cases will be diagnosed in the US in 2018. Census Bureau says that 1 in 5 people in America has a disability. The financial burden of which can tear away your wishes and aspirations for economic freedom, unless as advised above, you’re prepared and accounted for with insurance and an emergency fund as a safety net.

 

 

Common Financial Emergencies That Could Impact Your Life

Most Americans are only a single paycheck away from financial ruin. It’s a shocking statistic from a report that should concern the vast majority of of households that have no emergency savings whatsoever

We’ve been through the importance of having an emergency fund before on this blog. But there are some common incidents that could happen to anyone, and have a major, negative impact on your financial security in more ways than one. Let’s see what you need to consider – and perhaps we can persuade you to start putting some money away in an emergency fund this time.

Illness

It costs a lot of money to access healthcare, which we all pay for through insurance over the course of our lives. When you’re young, fit and healthy, the chances are that you won’t even consider major illness as a problem – and your career will progress normally. But people can get sick at any time, and it is highly unlikely you and your household will never be affected by someone getting ill at some point.

When you bear in mind that something like 90% of Americans are on the wrong Medicare plan, it’s clearly a massive problem. Some of the most comprehensive insurance won’t actually cover you for all those expenses – which can run into tens of thousands – maybe more – for prolonged periods of illness. So, the choices are stark – either put aside some money in the event of an illness, or take your chances – which is a huge risk.

Accidents

Accidents happen all the time, at a rather alarming rate, and the reality for all of us is that it only takes a second for your life to change for the worse. If you have suffered injury because of someone else’s negligence, you have a chance of getting compensation thorough personal injury or car accident lawyers,  but there is other issues you need to understand. And, there is a possibility that you will have to front up a lot of cash unless your case is water tight.

Complicated cases can take an awfully long time to settle – and there is no guarantee the court will find in your favor. Also, your family will be under a lot more pressure as they will have to care for you in your injured state, and there is a chance you might slip into depression or suffer psychologically as well.

Economic disaster

Sometimes things can go terribly wrong, everyone’s finances are affected, and there is nothing you can do about it. Take the financial crisis of 2008 as the perfect example – the effect on poor people all around the world was disastrous, and we’re still feeling some of them today.

So, even when the going seems good, you can never be sure the rug won’t be pulled out from underneath you for reasons beyond your control. It’s best to start putting money away in an emergency fund straight away – and give yourself the right level of protection and financial buffer that every household needs.