There’s an App For That: Financial Apps and Technology to Introduce to Your Budget

Keeping track of your money used to be quite a complex process. From balancing checkbooks to manually jotting down expenses, managing finances took a lot of time and effort. And you had to be extremely detailed to ensure accurate numbers. Thankfully, technology has made budgeting a lot easier, and different financial tools more accessible.

Now in 2024, it's easier than ever to keep your finances organized, budget effectively, and stay on top of your savings goals. Let’s explore how modern tech is making this possible.

Mobile Banking

Your bank or credit union surely has a mobile banking app, and it’s a great place to start with your finances! With these apps, you can handle all your banking needs right from your phone. Whether it’s depositing a check, paying bills, or reviewing transactions, your bank is always in your pocket. This convenience means you can stay on top of your finances wherever you are, at any time. Some even offer direct access to a banker, or access to information about Savings Accounts, Credit Card options, and more.

Budgeting Apps

Budgeting apps like You Need A Budget (YNAB), Quicken Simplifi, and PocketGuard allow you to track every dollar you earn and spend in real-time. These apps automatically categorize your expenses, give you a clear picture of where your money is going, and even provide tips to help you save. Some can sync directly with your bank accounts, making it much easier for you to get a real screenshot of where your money is going. Whether you’re trying to save for a big purchase or just keep track of your daily spending, these apps are a great way to get your budgeting off the ground.

Saving Apps

Saving money and keeping it saved can feel like an overwhelming process, but tech has made it much easier to get ahold of. Apps like Plinqit help you save without even thinking about it. The app sets aside money directly into a secure savings account for you. Little by little, your savings grow overtime, and you barely notice the difference in your day-to-day spending. It's an effortless way to build up a financial cushion or save for future goals.

Cutting Spending

There are plenty of apps designed to help you track your spending and cut unnecessary costs. Apps like Trim can automatically find recurring subscriptions or sneaky charges you may have forgotten about, and even cancel them for you. They also help you identify areas where you might be overspending, like dining out or entertainment. With these tools, it's easier to spot patterns in your spending and make smarter decisions to save money. Every little bit adds up!

Transparency and Access in Finances

Technology has also opened doors to a wider range of financial services. From investing platforms, which allow you to start investing with as little as $1, to loan comparison tools, you now have more control over your financial future. You can research and compare interest rates, fees, and terms in minutes, giving you complete transparency. No more relying on complicated jargon or middlemen—technology puts you in the driver’s seat.

Having financial data and online tools readily available also allows different demographics access to life-changing information that they may not have had access to twenty years ago. Such easily accessible tools allow those in rural areas, who have language barriers, have limited mobility, or lack of education (and more) the same tools and information that prevented them from making better financial decisions sooner.

Use technology to improve your finances—one App at a time.

Thanks to technology, managing your finances is no longer a daunting task, or only available to those with an accountant. Whether it's setting a budget, saving more effectively, or simply accessing your financial accounts, today's apps and tools make it easier to stay in control. With just a few taps, you can gain insight into your financial health, make smarter money decisions, and build the future you want for yourself.