Despite the health benefits of fitness trackers, this niche technology poses major information privacy threats to users. The recent rise in data breaches shows how the value of aggregated health data make personal fitness data vulnerable. The purpose of this research is twofold: a) to understand how users’ privacy concerns change over a period of time, and b) how users adopt coping strategies if a data breach occurs. We conducted a longitudinal multi-method study involving an experiment and two subsequent surveys spanning six months, for data collection. A conceptual model explaining the effects of self-schemas (privacy concerns, psychological ownership, and perceived benefit) on users’ perceived threat and efficacy was synthesized based on our prior empirical research and literature. Our results show that users’ privacy concerns decline as they use the device for six months, and their benefits of use outweigh privacy concerns from a potential data breach. Our findings also show that users’ coping strategies change over time, and self-schema constructs significantly affect them. Coping strategies of users that emerged from the study would benefit policymakers and device manufacturers to proactively take steps towards privacy protection.