Top Five Reasons To Use A Password Manager

by | | Other Cool Stuff

A password manager makes it easy to use and remember strong passwords. Here are our top five reasons to use a password manager.

Avoid getting hacked

A password manager helps you avoid getting hacked by creating and storing a different strong password for each website you use.

Simply put, nobody should be able to hack you. Even if they did hack your Netflix, they couldn’t use that same password to drain your bank account or spam all your friends!

Save time and energy

No more trying five different password variations to see which one works, and locking yourself out in the process!

No more texting your spouse for a password and not hearing back within the two minutes you devoted to this task!

(Hypothetically speaking. This happened to my friend once.)

Take action

With a password manager, it’s much easier to take action that benefits you financially. Here are two examples we see with ER docs.

  • “Refinancing my mortgage would be a pain because the bank wants so much information.”
    • The bank requires two months of paystubs, bank and investment statements, plus your last two tax returns. Gather all this in 15 minutes with your password manager!
  • “I’m getting terrible service from my bank, but I can’t switch because moving my 20 autopays would be too tough.”
    • Look at last month’s bank history, log into each provider with your password manager, and redirect the autopay to your new bank (or credit union!).
    • This should take half an hour. That’s a precious half hour, but it beats 20 more years of poor service.

Access across devices

Access your passwords across all your devices: phone, tablet, and desktop. Use your password manager’s other features anywhere too. Autofill is huge on the small mobile screens we all live on.

Say you want to check your bank balance on your phone. Also say this is your password, because you dutifully used your password manager to generate it:


Who wants to type that on their phone? Your password manager will autofill it for you.

Share passwords securely

A password manager lets you share individual passwords securely with others. This is very useful in a household. Also, you control if the other person can see the password, or just use it without seeing it.

Three reputable password managers as of this writing are 1Password, Bitwarden, and LastPass. ER Doc Finance has no financial relationship with any of them.

Most ER docs are simply too busy to deal with finances. That’s where we come in. Schedule a FREE Financial Pulse Assessment™. This is a 3-step process to get clarity on your finances and “test drive” our services.

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