How can I protect my finances? It’s a common question amongst earners. Very often, the answer lies in successful organisation.Across the UK, mobile apps are helping people with this. Experts predict that by 2023, 72 per cent of Britons will use apps as their main source of money planning.
How can we stay disciplined through banking apps, though?
You may already use some form of budget in your daily life, but did you know that many banking apps can simplify this task?
Some useful apps allow users to create subsections for different ‘pots’ of money. They’re then able to allocate spending budgets to each division.
Typically, owners can regularly update their app account, too. Should they go over or under budget, they can easily amend the document.
Through a budgeting app, earners stand to gain more from their assets.
Have you heard of cash flows? Useful, aren’t they? Spending plans are easily lost, however. Especially when they’re written on a PC or on a piece of paper at home.
Luckily, banking apps may hold a solution. That’s because most provide a function for payment scheduling. Users can add bill due dates to their banking app calendar – and arrange to receive notifications about them. Money Dashboard is an example of a planning app that has been recommended by experts.
Also, app owners are often able to tailor each alert to suit them. If they want to set bill reminders a week — or even a month — before they’re expected, they can.
How do you save money? Do you set yourself monthly targets? Or do you try to limit how much you spend?
Whatever your current method, why not try and use an app to help you? If you do, you could increase how much you save. Most money-saving apps provide guidance on savings goals, too. Using them, smart phone owners can create achievable objectives in this financial area.
Remember that some apps are better than others — particularly for this objective. Chip and Squirrel are two saving apps, which have recently received good reviews.
Technology plays a huge role in most of our daily lives. Increasingly, it’s influencing how we spend, save and manage our money. Banking apps could help us to stay more financially disciplined. How will you choose to benefit from them?