Do you have a smartphone? If you're like most people, the answer is probably yes.
The average American has two smartphones and that's not including their parents' phones. Smartphones are everywhere, and they're changing how we do everything from banking to shopping to playing games.
But there's one thing people don't always use their smartphones for: managing their finances. If you've got a smartphone, it's time to get on board with the latest financial apps! These apps will help you manage your money in more ways than one and give you the tools you need to stay on top of your spending and savings goals.
Begin online banking with a few steps
As long as you have a personal computer or smartphone with access to the Internet and an account eligible for internet banking such as checking, savings, money market, or even prepaid debit cards — it's easy to start doing things like transferring funds, paying bills, setting up alerts and reminders, and much more. Here's how to get started.
GATHER YOUR ACCOUNT NUMBERS
Your account numbers should be on the front of your statements. You'll find them under "Account Information," along with your name and address. If you don't see your numbers there, call your financial institution to ask about receiving your statements electronically.
ENROLL IN ONLINE BANKING
You can enroll in internet banking by calling your bank branch or logging into your account online. Once enrolled, you won't need to do anything else to use your accounts online.
TRANSFER FUNDS
To transfer funds from one account to another, log into your account online and select the option to send money. This will bring up a list of the accounts you've set up for automatic transfers. Select the account you want to send money to, enter the amount you want to send, and choose whether you'd like to make the payment immediately or schedule it for later.
PAY BILLS
Pay bills online using your bank's bill pay service. To sign up for this feature, click on "Bill Pay" at the top of your online banking page. Enter your email address and password, then follow the prompts to create a new bill-paying profile.
SET UP ALERTS AND REMINDERS
Set up alerts and reminders that let you know when something is due or has happened. For example, if you're expecting a check in the mail, you could set up an alert so you receive an email every time a check arrives. Or, if you're going out of town, you might want to set up an alert so that you receive an email whenever you leave home.
What can you do with these mobile app banking?
You probably already use online and mobile app banking to check your balance, pay bills, transfer money, make purchases, deposit checks and monitor spending. Here are some things you might want to know about how to manage your accounts.
• Online and mobile apps let you view your account information, including checking balances and transaction history, anytime. If you have questions about your account, contact customer service via email, phone, or chat.
• Mobile apps allow you to make payments and even send funds directly from your device. Some banks offer free mobile apps; others charge fees.
• With online and mobile apps, you can set up alerts to receive notifications when certain events occur. For example, you can sign up for text messages when a payment goes through, or you can receive emails when your balance dips below a specific level.
• Many banks offer tools that help you keep track of your spending. These include budgeting features that show where your money is being spent, along with tips to save money.
• When you link your account to your social media profile, you can easily post updates about your finances. This lets friends and family follow along as you spend and save.
• In addition to viewing your account information, you can download your statements to read offline.
How do I get help with online banking?
If you run into any issues while trying to access your accounts, ask for help! You can reach customer service representatives via telephone, email, live chat, or video.
Some banks offer 24/7 support, including online chat, text messaging, and even phone calls. Others require customers to use their apps. Still, others allow you to log in to your accounts over the phone or through video chat.
First, make sure you know exactly where your login information is stored. Many people keep it on their mobile devices, but that could put you at risk if someone else gains access to your device. Also, don't store your password on social media sites such as Facebook or Twitter. Instead, write down your passwords in a safe place like a notebook or encrypted file. Finally, consider setting up alerts for your accounts. This way, you'll receive a notification whenever there is something important happening with your money.
Best Financial apps to have on your smartphone
Mint
Mint is a personal finance app that allows you to track your spending, set budgets, and save money. Mint was created by Intuit, the same company behind TurboTax, QuickBooks, and other popular software products.
With over 20 million users, Mint is one of the most widely used financial apps available today. And while it might seem intimidating at first, Mint is really easy to use. All you need to do is sign into your account, enter your bank accounts, and then add transactions manually. Once you've entered your transactions, Mint automatically categorizes them based on whether they're recurring payments or purchases.
It's also possible to link your credit card to Mint so that you can view your balance online. Mint offers several different reports including a summary of your spending, a budget breakdown, and a detailed transaction report.
YNAB (You Need a Budget)
YNAB is an app that allows you to track every penny spent on your budget. It does this by giving you a visual representation of your spending habits. YNAB tracks your income and expenses automatically, and then gives you a monthly report showing exactly where your money went.
It's easy to set up and use, and it's completely customizable. You can choose whether you want to focus on saving money or tracking your spending. Once you download the app, you can create multiple budgets based on different categories, including food, entertainment, utilities, etc.
There are two versions available: the basic version is free, while the premium version costs $9.99 per month. Both versions allow you to sync your accounts via desktop software, and both offer unlimited reports.
YNAB is a great option for anyone who wants to save money and track their finances. It's especially helpful for families since it lets you manage household bills together. Plus, it's compatible with iOS and Android smartphones, making it easier than ever to keep tabs on your finances.
Quicken
Quicken is a classic budgeting app that lets you manage your income and expenses. You can enter transactions manually or import data from other accounting software. You can also connect your bank accounts and credit cards, allowing you to see your balance at a glance.
The app has been around for years, and it's still one of the most popular options out there. Quicken comes in three editions: Home & Business, Premier, and Deluxe. The Home & Business edition is free, while the others cost between $29.95 and $59.95 depending on which features you want.
All three versions include all of the standard features found in any budgeting app, such as creating budgets, entering transactions, viewing balances, and more. However, the Premium and Deluxe editions come with additional features like automatic bill payment and mobile access.
If you don't have much experience managing your finances, Quicken is a good place to start. It's simple to use and provides plenty of tools to help you stay organized.
Balance
Balance is a great app to help you get a handle on your finances. It's designed to be a personal finance tool, but it works well for small businesses too. Balance keeps track of your income and expenses, and then shows you how much cash you have left each week.
Balance is very intuitive and easy to use. Simply log in and select your bank accounts, credit cards, and loans. Then, you'll see a weekly overview of your spending and savings.
Balance includes many useful features, including a calendar, a shopping list, and a budget planner. If you're looking for a comprehensive personal finance app, Balance may be just what you need.
Digit
Digit is another budgeting app that helps you organize your finances. Digit offers several ways to plan your budget, including a traditional spreadsheet-style interface, graphs, and charts.
You can add new categories to your budget, and even customize them to fit your needs. For example, if you want to know how much you spend on groceries, you can add that category to your budget.
You can also create multiple budgets, so you can compare different scenarios. This makes it easy to figure out where you can cut back without sacrificing quality.
Digit allows you to view your budget by date, category, or amount spent. You can also export your budget into an Excel file, PDF, CSV, or HTML format.
This budgeting app is ideal for those who want to take control of their finances. It gives you lots of flexibility when planning your budget, and it's easy to share your plans with friends and family.
Money Dashboard
Money Dashboard is a powerful financial management app that helps you set goals and stick to them. Money Dashboard uses a goal-setting system called SMART Goals.
This means that you can set up specific goals for yourself, such as saving money for a vacation, paying off debt, or buying a car. Once you've set these goals, Money Dashboard will keep track of your progress toward them.
The app also lets you monitor your spending habits. That way, you can make sure you're not wasting money on things you don't really need.
Money Dashboard also provides some helpful reports, including a summary of your monthly spending, a detailed breakdown of your spending, and a comparison between your current situation and your previous year's spending.
Money Dashboard has a lot going for it. The goal-setting feature is especially useful, and the reports are thorough and easy to understand.
Take away
It's so easy to get into the habit of using apps on your smartphone, but it's important to do so responsibly.
If you're not careful, all those apps can add up. You may find yourself in a financial hole if you don't keep track of how much money is going out and what kinds of bills are coming in each month.
With the right apps on your phone, though, you'll be able to make sure that everything is accounted for and that means you can relax and enjoy life!
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