It can be difficult to keep up with new technology; sometimes it feels like the world can change if you stop paying attention for a few minutes. Things that we accept as normality were utterly unthinkable just a few generations ago. Our grandparents would have to spend weeks to get from one country to another, and now we can whiz along in an Airbus A380 30,000 feet above the earth, sipping cocktails and watching movies. Until the 1970’s, we had to actually go into a bank and request money, completely dependent on their opening hours. Now we just slide a piece of plastic into an ATM, press a few buttons and money comes out, leading many of us to believe that money was very easy to come by! Who knows what will happen in the world of banking – some new inventive technologies may in fact become industry standard. Let’s have a look at some of the best banking and personal finance apps that are out there.
Your Bank’s App
While there isn’t an actual app called “Your Bank’s App”, the most important personal finance app for you is the one available from your actual bank. This allows for mobile banking and up to the minute information on all your accounts. Some banks even allow you to apply for credit or an overdraft with the app, meaning you could be out shopping and see something that you simply must have. Press a few buttons on your phone, and voilà – the funds are there for you.
The original and the best, Mint is a free app that works on iPhone and Android, and gives you an overall view of your finances. You can link Mint with your bank account and credit cards, and it will factor in things like your income and bills, so you can have a clear look at your finances, which allows you to stay on top of things.
The PayPal app is becoming increasingly popular since the online payment method is accepted at more and more places, both online and at actual stores. It’s fantastic because it means you don’t have to bring cash or cards, and your financial details are safely protected by your password. Just don’t leave yourself logged in, since you’ll be in trouble if you lose your phone. Paying with a phone is expected to become standard in the coming years, although this will likely be linked directly to your bank account, rather than some third party provider. Trials of this system are underway in the United Kingdom.
If you’re a person who prefers to live without the noose of credit around your necks, then Savings Goal is for you! You simply enter the cost of a big item, like a vacation, a new car, or even an extension to your house; then enter the date you’d like to have it by; and the app tells you exactly how much you must save on a monthly, weekly, or even daily basis. One thing the app won’t remind you about is the fact that you really should remember to get insurance for any new possession or addition to your home.
This is a guest post by Lisa Peteres, a freelance personal finance writer currently working for homeownersinsurance.com. Should you have any questions to her about finance, feel free to drop a comment!
© 2013, Lisa Peteres. All rights reserved.