Are you too busy to keep track of your personal finances with pen and paper? Today, mobile apps are the digital checkbooks for people who are on the move, like you. Here are 5 essential tips for better money management on the go.
Money management isn’t something most people excel at. In fact, around two-thirds of Americans wouldn’t be able to handle a $1,000 emergency should it come up.
Whether it’s a job loss, illness, or car maintenance, life tends to sneak up on you in an expensive way. These unfortunate scenarios don’t have to break your finances though.
If you want to avoid finding yourself in a financial peril, you are in the right place. Keep reading below for five tips to help you achieve better money management. Bonus tip? They can all be done on the go!
You probably know that budgeting is the first step to managing your money, but have come up with a laundry list of excuses to avoid getting started.
Stop making excuses. Budgeting is crucial because you must understand your spending habits and what you can realistically afford.
Budgeting is especially importing in order to not overspend on vacation. be sure to check out these helpful travel apps for your next trip!
There are many mobile options to help you with this task. One of the best finance mobile apps is Mint. Be sure to check out the features and decide if it is for you.
2. Keep Friends Happy
How many times have you paid for something for a friend or vice versa? It can happen to make things simpler or when you find yourself without cash.
Regardless of the scenario, ensuring there is an easy way to pay back people who have loaned you money is helpful. Sometimes getting cash out of the bank or writing a check just isn’t practical.
Consider checking out apps like Venmo, which allow you to send and receive money securely with your friends and family.
3. Invest in the Future
One of the smartest decisions you can make is thinking about your money future. If you are unsure where to start, check out a personal capital app.
This type of investing app will provide you with an automated assistant when you start. As you accrue more wealth, you will receive even more assistance in managing your money.
As a bonus feature, the Personal Capital App will also track your spending like Mint and organize it into categories.
4. Automate Your Savings for Better Money Management
Some people struggle to put away money for savings. One mobile solution is an app like Acorns. This app will round any purchase up to the next highest dollar and move that money to a savings account.
This type of savings app can help you achieve emergency funds or save for your next vacation.
5. Know Your Credit Score
Being financially responsible means knowing your overall standing or finance health. Your credit score can tell you a lot of valuable information.
It is a free app that can give you suggestions on factors to work on in order to improve your score.
It can also provide you with credit cards you would likely be approved for.
Successfully Manage Your Money
With the above five tips and app ideas, you should be well on your way to better money management. Regardless of your income level, there are clear steps to take to achieve your money dreams.
Ready for more money management tips? Check out these great apps that can actually make you money!