Sharing Daily Discoveries About Personal Finance And Business Topics

Reading The Terms of Service For Free Phone Apps

Interesting topic I was hearing today about how so many apps out there for smartphones request that when you use it you authorize the company to do things such as record your voice, turn your camera on or other things like seeing your contact list. Essentially, it was how many times the apps are free because you are essentially exchanging a lot of personal information about yourself and that data is worth a lot of money.

This is nothing too new in general as companies have been doing these types of things forever. There were just some examples that got people thinking more such as how some free bank apps say that you give them permission to record your conversations with the justification that if they record you if there was ever a dispute such as a transaction fraud they can use this recording as verification. Of course the different spin on this was people were saying anyone in the organization can just turn it on.

I usually try to minimize the apps I install personally. I never thought it was a good idea to just install everything simply because it is free. Can’t put a price on your privacy.

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