According to a report from the Board of Governors of the Federal Reserve System, 57 percent of Americans spend all, or more, than what they made. Additionally, 34 percent of Americans reported being under financial stress. The following apps and smartphone features can help you change that, so you have comprehensive personal finance management in your pocket!
This online tool gives you access to a professional financial planner and offers a fully customizable financial plan that balances wants and needs. While focusing on credit card debt, emergency funds and retirement savings, the resources available from LearnVest allow you to feel a bit more stable about your money. Best of all, it can be accessed via your smartphone.
In a world that is going paperless, paper receipts are becoming a thing of the past and a nuisance to keep track of. Your smartphone makes managing your receipts easier. Simply snap a photo with your camera phone and add the image to a file dedicated to receipts. You may even want to create monthly folders so that when it comes to tax time or if you need to review an expense you can do so without scrolling through hundreds of receipt copies.
For an even more organized approach, use the Foreceipt app. The cloud-based app is easy to use, secure and accessible virtually anywhere on your smartphone.
Whether you’re traveling or making a large purchase in a store, you’ve probably had the bank suspend your card at one time or another. Today, banks are using apps to connect with their customers more so than ever before.
Real-time text alerts or alerts via the app notify consumers if their card is being used for possible fraudulent charges, if they have overdrawn and more. This cuts out that annoying time that is normally spent on hold, trying to talk to a representative from your bank. You can simply reply with a “yes” or “no” to account for charges, and you can have an alert set up if you need to move money from other accounts to make sure you stay at a healthy total. If you use an iPhone or a Samsung Galaxy, you can use text alerts to ensure that you remain in good standing financially.
Would you believe that 56 percent of people have no idea what their credit score actually does? According to data reported by Business Insider, survey respondents did not know that a credit score is essential when applying for a mortgage or loan.
You can have access to your credit score, budgeting, investment tracking and advice all via your phone with the money management app Mint. This app is free and easy to set up. Plus, the app takes the guesswork out of crunching your financial numbers, as it updates your finances in real time. It provides you with information about your bank account balance, investments, credit card debt and spending patterns all in one place. And the budgeting feature allows you to make smart decisions about spending, saving, bill pay, investing and more.