Tech-Savvy Money Management: Ways to Help You Get and Keep Your Money
Technology is at the center of our world and right at our finger tips, helping us go about life with more convenience than ever. Saving money is one major aspect technology has been able to lend a hand in. From providing the proper technology platforms to make more money and allowing us to manage money in real time, to creating maximum efficiency in various parts of our lives, it is a tool that is allowing us to spend less, make more and ultimately save.
Cheers to Online Banking
Smart money management is a fast way to boost your savings. The task at hand however, isn’t the easiest and requires constant attention. Luckily, we have technology here to make money managing a piece of cake.
Banks have made it simple to automatically transfer money to your savings account from each pay check. For example, with Chase, you can simply click “Start Saving Now” on their website, enter the amount you’d like to be automatically transferred each month, and let the recurring feature take its course.
There are also other savings programs that use technology to execute. Bank of America’s “Keep the Change” savings program automatically rounds up a purchase to the nearest dollar each time you swipe your debit card then adds it to your savings account. This automation technology helps you build your savings without even feeling any financial impact.
Technology Friendly Side Jobs
With just a laptop or a smartphone, you can pick up a side job quicker than ever before and get on your way to saving more money. For freelancers such as writers, working remotely comes with the nature of the job and ultra-thin, ultra-light and ultra-mobile laptops have made getting the job done easier.
The sharing economy has also come about thanks to technology. Ridesharing and food delivery services rely on apps that connect people to services like Uber or Postmates. And the GPS built into these drivers’ phones is integral to completing their trips.
Then there’s companies like Amway that utilize technology as a platform for their employees to directly sell products to others and build their network. In essence, technology has made connecting with others easier and opened the door for non-traditional jobs to come about as a way for people to make extra cash to save.
Money Saving Apps
There is a plethora of money saving apps out to choose from. Depending on what kind of interface you prefer or what kind of goals you have in terms of what you want to save, there’s an app for that. Level Money is a highly visual budgeting application where you can see what amount of your balance is “spendable” for each month. It factors in your essential hard costs like rent, groceries and utilities and helps you see exactly how much you have left to spend so that you can meet your savings goals.
Another finance app is Digit. This app is more aggressive and direct when it comes to helping you save. Digit analyzes your income along with your spending and then automatically makes transfers from your checking account to your Digit account. Once customers have saved a certain amount, they receive savings bonuses that act like interest.
Start With Your Own Home
Smart home technology is maximizing efficiency of how a house is run. It may seem like you’re spending money when you install smart home hubs and home automation devices but you’ll save in the long-term. For instance, smart thermostats like the one from Nest and smart light bulbs from Phillips Hue can all be turned off remotely from your phone or set to be energy efficient. You’ll see your utilities bill decrease directly from implementing some of these smart home changes and can put that money towards savings.
The ways to save are being amplified by the technology available to us. To boost your savings faster, take advantage of the multitude of applications, devices and technological platforms that are helping people make money and save more. Be it banking, the job market, budgeting and lifestyle, technology is an integral force contributing to the act of money saving—something everyone can hop on board with.