These days all of us struggle with some aspect of our financial lives. Whether it’s carrying too much debt, not saving enough or spending sprees, we all could use a little help managing our money better. Luckily, technology has provided us with a few ways to make money management easier than ever.
Gone are the days of paper and pencil budgeting or deducting transactions from your checkbook register. Most of us pay bills and access our bank accounts online, so why not use online and smart phone apps to improve the way we handle our money?
Consider your overall budgeting skills. Chances are they could probably use a boost. Do you even have an outlined budget for your expenses? Do you follow your budget closely or do you overspend in any one area? Services like mint.com can provide you with an easy tool for creating and following a budget. Once you have outlined your budget categories, the program will alert you via email or text when you get close to meeting your maximum for that category. In this way, you can keep track of your spending, see where your money is being spent and even be notified before you overspend.
What about your savings account? Do you have at least three or more months worth of expenses saved for a rainy day? Most of us have very little, if any, money saved. Instead of thinking of saving as a chore, make it easy on yourself. You can set reminders on your phone’s calendar to move money into your savings account. Most banks even have an app for Smartphones that allows you to access your account and transfer funds. If you aren’t comfortable with using your phone to transfer money, go to your local branch and set up an automatic checking to savings draft.