Technology abounds, especially when it comes to finances. Banking institutions and all the financial apps make it easy to keep track of everything. But alas, if only you could find the time!
If you have yet to leverage technology for your finances, you’re missing out. You likely use some technology daily, but there’s so much more to discover!
It’s up to you to make wise financial decisions and use technology to accomplish your goals, so you better hop to it.
Here are a few of the many ways you can utilize financial technology.
1. Automate Payments
Life gets busy, and it can be easy to forget to pay your bills. That’s why having the ability to schedule recurring payments is a lifesaver. From credit card bills to car insurance, what’s not to love about using technology to pay bills for you!
Sign up for automatic bill pay through your bank. Or, for payments like your health insurance, you can set it up on the website directly. It’s that simple!
2. Keep Track of Your Income and Expenses
Even if you love writing things down, it’s a lot easier to keep track of your income and expenses via technology. It’s essential to know how much you’re making and spending so you can manage your money accurately.
A planning app like Personal Capital gives you a complete financial picture. Once you plug in your accounts, it’ll tell you what your net worth is. From there, you can make a plan on what you can spend and save moving forward.
The more you can keep track of your finances, the more you’ll learn your habits and know how to improve your finances.
3. Create a Savings Plan
Do you have a savings plan? Financial technology can aid you in sticking to a savings plan as well.
It’s hard to save money if you don’t know where your paycheck is going every month. That’s why you should be intentional about saving for your future so that you’ll have a nice retirement fund someday.
EveryDollar by Dave Ramsey is one app that will teach you how to budget based on the money you make each money. Pretty soon, you’ll have a savings plan in place and plenty of money socked away!
4. Monitor Your Bank Account on an App
There are all sorts of financial apps available. If you haven’t done so already, you should download your financial institution’s app on your phone!
If you bank with Chase, for example, download the Chase bank app. There, you can log in and check your account, make transfers, and more. If something’s amiss, you’ll be able to view it in real-time and contact your bank.
5. Use the Internet to View Compensation Reports
The internet has a wealth of financial information. It also happens you can utilize it to get ahead in your career.
For example, companies often release compensation reports. These industry-specific reports let you know what professionals in your industry make. Having access to this information is an asset when applying for work or asking for a raise.
Applying for work is hard enough already. That’s why you should show up to an interview prepared. Knowing your desired salary will put you miles ahead of your competition.
6. Compare Prices for Purchases
Have you heard of GasBuddy? This clever app gives you a list of the best gas stations near you with the cheapest gas. If you use it often enough, you can save a lot of money!
Other sites allow you to compare prices on prescription medication, like GoodRx. And, if you’re looking for the best hotel or car rental rate, then sites like Booking can help you out.
No matter what you need the best price for, technology has got you covered!
7. Scan Essential Documents
You don’t need to keep the paper version of documents any longer because scanning is available!
Scanning documents makes it easy to keep track of important documents like receipts.
Gone are the days when you have to store essential documents in a folder and remember where the folder is. With scanning technology, you can keep everything on your laptop or uploaded on a cloud server for easy access.
Conclusion
Who knew there were so many ways technology could improve your financial decisions! So whether you want to keep track of investments or save more money, there’s no shortage of technology.
Now, instead of making excuses about how you haven’t got the time, make time! Believe me, when I say, it will be time well spent.
With technology at your fingertips, it’s easy to set yourself up for financial success. But, to begin to make it happen, start today!
Wayne Probert is a senior reporter at Zobuz, covering state and national politics, and he is a grantee with the Pulitzer Center on Crisis Reporting. Before joining Zobuz, he worked as a freelance journalist in Kentucky, having been published by dozens of outlets including NPR, the Center for Media.
