Monday 12 August 2019

Ways to use your Smartphone to create a better Financial Future for Yourself

Photo by Austin Distel on Unsplash

Most of us spend hours on our smartphones. We have become very reliant on them. So much so that smartphone separation anxiety has become an actual condition. We love these little devices and would find it hard to live without them.

Yet, most of us are only scratching the surface when it comes to what our phones can do for us. As you will see below, with the help of the right apps you can start to build a more financially secure future for yourself and your family. Sounds good, right?

Invest on the fly
Using this investment app, you can keep track of the investments you already have. But, perhaps more importantly, it also enables you to invest on the fly. So, for example, if you get a bonus from work, you can immediately identify a way to invest that cash. This will stop you from frittering that bonus away over the weekend.

Track what you are spending
Managing your day to day spending is critical if you want to stay out of debt. Knowing how much the essentials of life cost and budgeting accordingly can easily be done using a money management app. One of the best ones on the market is Mint.

As well as letting you set and stick to a budget, the Money Dashboard app has several additional features built-in. For example, alerts that tell you when your bills are due.

Keep an eye on your bank accounts.
Money Dashboard also enables you to track your bank accounts, savings and credit cards, in real-time. It is compatible with most of the UK’s financial institutions products and accounts.

If you do not fancy using Money Dashboard for this, take the time to download and use your bank’s individual apps. Most providers have one.

Regardless of which option you choose, be sure to set a complex password and use two-stage authentication as well. You can learn more about keeping banking apps secure, by clicking through and reading this article.

Pay less for life’s essentials
The less you spend the more cash you can save and invest. So, whenever you can, shop around to find the best deal.

There are tons of apps that are designed to help you to do exactly that. Couponing/ voucher apps come and go in the UK. So, you will need to keep an eye open for them and download them at an early stage. Usually, you will find some decent deals during the early days. Also, save this page somewhere on your phone and refer to it before you go shopping. It is a voucher webpage that is kept fairly up to date.

There are also some very good price comparison apps out there that you can use while shopping. One of the most popular ones, ShopSavvy enables you to scan barcodes as you go to see if you can buy that product nearby for less. I also like the MySupermarket app, which compares prices across all of the UK’s major food retailers.

As you can see, there are plenty of apps out there to help you to save money. All you need to do now is to download a few of them and give them a go.