While many people shy away from financial transactions online or on their phones due to security concerns, there are too many benefits to ignore. Whether you use an online site to do your taxes, track your expenses on your online bank, or take advantage of the apps on your phone or tablet, there are many ways to save money using technology.
Since I discovered the ease of using my bank application on my smartphone, I can’t stop using it. I’m able to transfer money from my checking to savings, pay my credit card bill, read documents, pay bills and lots more. It is much easier than traveling to the bank and more accurate than if I kept records myself (I always forget something).
Not only do I save time and gas when I don’t have to travel to the bank physically, I also avoid paying fees for overdrawing from my checking when I know exactly what is in there. If I need more money in my checking account to pay for a big purchase, I can instantly transfer from my savings. This also gives you access to your past purchases, so that you can check for any fraudulent charges.
Another great app that I use on my phone is Check. This app allows you to connect your bank account, any credit cards, loans, and bills that are due. You can set reminders for yourself and it will organize your spending to show you what you are spending your money on regularly. It’s also very easy to set up a budget and the app will alert you when you exceed your own limits.
Make Money Using Technology
Another benefit of having your phone with you constantly is the ability to make money. There are many apps out there that allow you to trade stocks instantly, wherever you are. Instead of waiting until you get home, you can research and purchase or sell stocks while waiting in line. There are also apps that make it easy to sell things (Ebay, Craigslist, etc.) as well as find jobs nearby, like Task Rabbit.
Even though you need to be careful with what personal and financial information you put out into the world, you shouldn’t avoid technology that can help you. It’s made my life much easier and allowed me to avoid fees, transfer money, trade stocks and track my spending, all from my smartphone.