Maricor Bunal
Like many of our readers, you may want to get a better hold on your finances, but be finding it a little harder than you’d anticipated. Fortunately, modern technology has opened up a whole treasure trove of information resources and digital tools you can use to simplify managing your personal finances. Here are a few helpful financial tips, and the kind of tools that will make them easier to implement.
Have a Budget and Stick to It
You’ve got at least one big savings goal, and whether it’s a new house or a trip you’ve been dreaming of for years, you need a realistic budget in order to accomplish it. With a great budget, you can easily keep track of how and where you’re spending your money, and see what you can cut back on in order to free up more capital. There are many great budgeting apps on the market today which you should consider using. Often, better tracking is all it takes to really make a difference to your long-term goals.
Make Money More Fluid
Hopefully, there’s a decent gap between your monthly income and recurring, non-negotiable expenses. If you’ve always got a surplus at the end of the month, then you may want to move this to different kinds of accounts, or set it aside for spending on some of life’s luxuries. These days, with modern mobile banking apps, it’s easier than ever to open a savings account which will earn interest, all the while giving you easy access to your money. The rise of mobile credit card processing and similar tech in various retail niches has also meant that moving money between different accounts is now a much more fluid process. This fluidity is an important part of maintaining financial stability in 2017, so make sure you’re not neglecting it!
Don’t Let Bills Impact Your Goals
Paying your bills late can seriously harm your credit score, leading to much higher interest rates on absolutely everything, from your credit cards all the way up to future mortgages. However, leveraging modern tools to manage your recurring expenses will allow you to pay all your bills online, and keep track of all your payments through a single user-friendly interface. Many modern apps also allow you to set up recurring payments, so that there’s no chance of you missing a date.
Understand Your Finances Now and in the Future
At any given time, I’m sure you know roughly how much you have in your savings and checking accounts. However, you may not be so clear on your overall net worth, or how much you’ll be spending on groceries and gas in the foreseeable future. Within a few minutes, you could have all of that information right at your fingertips! There are now a range of financial planning tools which can keep you up to date on socio-economic shifts on the horizon which will impact your day-to-day cost of living. Make sure you’re leveraging one of these for smarter, more dependable budgeting!
