Some of the many things we are doing these days to decrease our paper and increase our E-storage and retention include converting bills to electronic bill pay and getting financial statements electronically. With these changes there is an increase in user names and passwords. Scratching these out on random pieces of paper is not a good idea. In addition to lots of time wasted searching for those scraps of paper (now clutter), it is important to also consider what would happen if you weren’t here any more (I use the “what if you got hit by a bus” example).
1. Password Management
There are several possibilities to consider for password management. Consider these options and choose one that seems right for you.
Low Tech
Keep a single notebook or use a paper address book and log all your user names and passwords in there. This is for the person who is least comfortable with their security information on their computer or the internet and who still prefers writing things down.
Medium Tech
Make a list in a program like Excel to record your user names and passwords. This document should be password protected with something you can remember.
High Tech, Internet or Cloud
A Google search for Password Manager will bring up sites like Roboform and LastPass. Both of these have good reputations, and there are others to choose from as well. This is for the person who is comfortable using the internet or cloud to store their information.
The point is to choose what works for your comfort level and stick with it.
2. Share Your Passwords
That might sound counter-intuitive, but in the “what if you got hit by a bus” scenario someone else will need to be able to get access to your accounts and files. Whoever that trusted person is, be sure to let them know how to find your passwords.
And while you are at it, consider making a list of all your accounts with their passwords to pass on to this trusted person. Update this list as needed if it is not shared electronically. Anyone who has had to handle probate or settling an estate will tell you this is invaluable information which will save tons of time and money.
3. Back up, back up, back up…
Did I say Back up yet? With More and more information stored electronically, you have to be sure to have a system (hopefully automatic) to back up your files.