With 2017 almost here, are you making any financial resolutions? Though we may not say it, most of us hope that each year will be more prosperous than the last, whether that means a better job, an upturn in our investments, or a surprise windfall. But why not take this goal into your own hands with financial tech? You can have more money in the new year if you play your cards right.
Check your Spending
One of the simplest ways to have more money in the new year is by trimming away the excesses and dead weight in your life. This might mean canceling that gym membership you never use or being more methodical about your grocery spending. No matter where you decide to make changes, though, it’s important to translate those changes into savings.
If you need help with that last step, consider downloading Digit. Digit works with your bank account to assess your spending and then automatically moves money to your savings. Don’t worry that this will send you into overdraft, though. The beauty of Digit is that it only moves money into your savings if it determines based on past trends that you’ve got a few extra dollars on hand, and the amount varies based on your spending patterns, keeping you in the green.
Set Some Goals
No matter what your financial situation is, setting financial goals can help you develop better spending and investment habits. Without some sort of accountability tool, however, many of us never meet those goals. That’s where Mint comes in.
Mint is one of the most popular budgeting tools around, and it’s free to use. It helps you sort through transactions, monitors accounts for unusual behavior, and – best of all – helps you work towards your financial goals. You can create a goal with your Mint account and it will provide a visual account of your progress. Want to take a vacation or pay down your mortgage? Mint will help.
One of the challenges that few budgeting apps address is shopping smarter. While there are many couponing apps, for example, these don’t integrate with other spending management tools. Squeeze is here to change that.
Squeeze, which just released the beta of its app, not only provides the standard tools for sorting and managing income and bills, but it also performs price comparisons within the app. Based on this analysis, the app can tell you if you’re overspending and how to get necessary items at a lower price. Expect a full version of the app in 2017.
What else can you expect from the financial management world in 2017? Many predict that the financial sector will drive devices like the Apple Watch that can provide up to the minute information about stocks and spending. And as even basic budgeting apps develop more complex capacities, don’t be surprised if they suddenly know as much about your financial future as your current behavior. If apps like Digit and its savings algorithm are any predictor, technology may turn us into better money managers, with or without our cooperation.