Am I traceable if I use VPN?

Good day! I've been reading up on VPNs lately and I'm curious about the level of privacy they offer. My main concern is, if I use a VPN to browse the internet or engage in financial transactions, am I still traceable in any way? I understand that VPNs encrypt my data and route it through a server, but I'm wondering if there are still vulnerabilities or ways for authorities or hackers to track my activities. Can you provide some insight into this? Thank you in advance for your help.