Let’s face it. Technology has touched every area of our lives, from social interactions to business transactions. Most of us are even doing 90 percent of our banking online (or more).
But if you really want to level up in the financial world, consider using technology to improve your financial security.
Here’s how to use technology to help boost your financial status.
Automate everything
Say goodbye to late fees and finance charges when you set everything up on autopay. Set it up to pay your accounts in full or a set amount each month. It’s completely within your control, but it’s not something you ever have to worry about.
Even if an institution requires a physical check, you can probably set up an autopay through your bank account that sends that physical check each month. There may be a small fee, but it’ll end up being a lot less than if you were to have to pay late fees. If you do have to write out a check yourself, set up reminders so you don’t forget.
Use a budgeting tool
There are so many budgeting apps out there, and some are better for your needs than others. Try to find an app that works well with your financial situation and allows you to set and track financial goals. Often, you’ll find tools to help you put money aside to pay down debt or save for a new home or car.
Most budgeting apps are designed to help you achieve common financial goals. Mint and YNAB (You Need a Budget) are popular apps, but there are many more — and most of them are free.
Automate savings
You’ve undoubtedly heard the expression, “there’s an app for that”. It comes from an old commercial, but it rings truer with every year that passes.
There are quite a few apps that will help you save money by automatically putting some into savings on a regular basis. You may set an amount each week or a percentage of your income. Apps like Acorns will also round up every purchase to the nearest dollar and put the extra money into a savings account.
Invest in stocks
Apps like Stash can provide an entry into stock market investing that some people wouldn’t otherwise have. You can invest as little as $5 to buy shares in a company and watch your money ebb and flow as it does in the stock market.
Apps like these make investing fun, and they’re perfect for students or anyone who doesn’t have thousands to invest at once.
Record your receipts
Have you ever lost a receipt for something you need to return? Inevitably, the price has dropped significantly since you purchased it (even if it was just yesterday) and you have to accept the lower amount in the form of a store credit. But when you use technology to record your receipts, you’ll always have them at the ready.
And that’s not the only benefit. When you record your receipts, you can also get cashback with apps like Ibotta and others. And as a bonus, these apps usually offer additional coupons and other savings.
Everyone wants financial security, and for most people, it’s something that takes time to accumulate. But with the help of technology, you can upgrade your financial health seamlessly. In some cases, the integration happens behind the scenes. When you can omit certain jobs from your to-do list, you can also free yourself up to do more productive things — like making even more money.
