Five Ways Your Smartphone Can Help You Make Smart Money Choices

  • By Jillian Taylor-Mancusi

Read these Five Ways Your Smartphone Can Help You Make Smart Money Choices.

Your smartphone may not give you a higher IQ, but it can help you make smarter money choices. With access to so many apps and features, smartphones can help anyone struggling with debt and spending take control of their finances and make overall better money choices.

Here are five things your smartphone can help you within your personal finances:



If you struggle with budgeting, a smartphone app can make it easier than ever. Budgeting apps can help you track and manage your spending so you can better adhere to your budget. Mint is considered one of the best budgeting apps. It syncs to your bank account, automatically tracking your spending and updating your balances without having to input the information manually.

Managing debt

If your goal is to pay down debt, an app can help you reach it. Debt Free, for example, helps you organize your debts and pay it off with the snowball method. You can track your debts and monthly payments to calculate how long it will take you to pay off your debts. Credit Card Debt Payoff calculates your credit utilization, which can affect your overall credit score, and helps you reach more manageable levels.

Saving money

Most of us want to save money, and there are thousands of apps that can help you. Some of the best apps for saving money include coupon apps, which provide codes you can show at the checkout for discounts at your favorite retailers; gas apps that locate the lowest gas prices in your area; and price comparison apps that help you find the lowest price for certain items, whether online or at brick and mortar stores.

Paying bills

When you’re juggling a lot of expenses, it’s easy to overlook a bill every now and then. But missing a bill just once not only has a drastic effect on your credit score, but it can also cost you in late fees.

Bill-pay apps like BillTracker can help you stay on top of your bills so you never forget or miss a payment again. Bill pay apps list payment due dates, amounts due, and store confirmation numbers. Many will also send reminders to your phone when a bill is due or overdue.

Monitoring balances

Have you ever swiped your debit or credit card without knowing the balance and hoping it will go through? Almost every bank and credit card company has a smartphone app that will help you track your balances. This is useful in helping make sure you don’t spend money you don’t have. Many also let you set up alerts that can text you if your balance goes under a certain amount you specify.

If you have a smartphone, take advantage of the many different ways it can help you with your finances. From budgeting to saving money to helping you organize your bills, a smartphone is one of the best tools you can have in your financial toolbox.

How do you use your smartphone to save money?

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