How Can Mobile Apps Help Your Finances?

How Can Mobile Apps Help Your Finances?

With so many capabilities integrated into mobile phones, these devices have become “pocket PCs’ for most of us, because many times with a few apps problems are easier to deal with. When we talk about finances, people get really excited, both in a positive and negative way, because handling money turns out to be challenging at times. But there are mobile apps helping us in that direction and we would like to talk about how can mobile apps help with finances.

Expense Tracking

How many times did it happen to run out of money, without knowing where it had been spent? This happens to many people and the main reason for that has to do with a lack of expense tracking. Apps like Mint, Clarity, and Acorns are now popular in helping people to constantly monitor how they spend money. By keeping expenses under control + by having a plan on where should you spend, situations, when you have to borrow from the bank/friends, will decrease.

Online Trading

There’s no other point in history when access to global financial markets had been as convenient as today. Stocks, commodities, indices, and even forex trading through a mobile application are now at the disposal of a wider audience. Traders around the world use mobile platforms, investing apps, news app, and many others, in order to find trading or investing opportunities.

Even though trading is a challenging activity, we can acknowledge that with mobile apps it is now possible for any individual to learn and develop skills in order to gain financial independence.

Automating Savings

If tracking expenses is such a hard task, what can we say about saving money? In a society that wants to stimulate consumption to the maximum, it’s hard for people to resist the temptation to buy as many things as they can. However, we’ll have to face that there comes a time in our lives when we’ll get old and our ability to work at the same pace will diminish.

Even though it’s not something popular, saving money should a habit for responsible people having a long-term vision. Luckily, there are apps designed with this purpose and we can automate the process and let the software do the hard work for us. Depending on your country of residence, each of the following apps could be useful: Qapital, Digit, Chime, Acorns, Empower Finance, Tip Yourself, and EvoShare.