Managing Finance with Technology

Today, technology is more fluid and intuitive than ever. Just 10 years ago, the average person didn’t have much access to personal app technology through their smartphone (and to be fair, these days many people only use their smartphones to play games and post photos of their breakfast). But fortunately, for those of us who still view smartphones as wondrous tools that offer a myriad of options to help us manage our lives, there’s an assortment of worthy apps that can help you do anything, including managing your finances.

First, there is something to be said for checking out apps your personal bank offers, in that they can be very useful for effectively managing your bank account. With today’s bank apps you can send money to your pay bills, review your recent transactions, and even deposit money via check scan. Bank apps are convenient and can eliminate the weekly bank visit. A recent Kiplinger blog suggests  that you might want to try some finance apps “for fun” (available for Android and iOS) that are designed to help you better manage your personal cashflow. To give you an understanding of how some of the finance apps work, see below:

If your problem is budgeting, check out YNAB (You Need A Budget). Like all budgeting apps, the goal is to give you easy access to personal spending habits by synching all your accounts together. YNAB creates spiffy data visualizations to help you better understand how you spend every dollar. It’s easy to use, has a quick set-up (any app that requires you to connect your accounts is going to take a little time, no matter what…) and the data visualizations are intuitive.

Trouble saving for specific short-term goals (still wanting to buy a speedboat someday?)? You might want to consider a little app called Thriv. This app is designed for one thing and one thing only: short term goal-setting and tracking. It does that quite well by turning an idea into something similar to a social profile. You give the goal a term (short or long), a name (Speedboat), a photo, a description, a price tag – you can also include a link to the exact thing you are saving for. These are all helpful incentives for getting you to your financial goal.

If you are looking for a nifty way to save some money without even realizing it, then Acorns might be the app for you. Acorns is an auto-investing app which utilizes the spare change from every purchase you make. Connect as many debit/credit cards as you like or—or just one. There are also options for automatic transfers to fund your account, if you prefer. But the idea here is saving your spare change. How many of us remember our fathers or mothers, grandfathers or grandmothers tossing their spare change in a big jar? They only fished out that money for special purchases and never missed it when it was in there. Acorns works much the same way.

There are literally thousands of personal finance apps available to choose from. So take a look, check the reviews and do some background research. You just may want to try a few personal finance apps that can help you successfully manage your finances.


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