Just like any good tips article would include, you should be warned that using technology to manage your finances would always come with a risk. Technology may not be sentient, but the people who manage and maintain it are sentient and they are aware of way to manipulate technology in order to gain access to your finances. Before considering putting your trust and information into any technology, it is your job to fully research the technology to be sure it is beyond reproach when it comes to security, your money and your trust. Here are a few ways that you can use technology to help you manage your finances.
This is a great step in the right direction. So many services used to have to be done in a bank, and now thanks to Internet banking you are able to manage your money in the comfort of your own home. The security of some online banking platforms is very good, and they even allow you to apply for borrowing services such as credit cards and loans.
Budgeting programs and tools
These are great for making you aware of how much you spend, how much you are able to spend and how much you are going to spend in the future. They are also good for helping you to remember what days your bills need to be paid. Planning is the key to helping you spend less, and budgeting is all a part of the planning process.
Budgeting apps and programs that are synced with your bank and investment accounts
These are very good if you do not feel that you have the time to add in and take away budget entries. The money you spend with your bankcards will be removed from your accounts and budgets automatically. They are a little better at showing you how much you have left in certain budgets. However, you should remember that there is always a risk when you give an app or tool access to your bank account.
Currency conversion company websites
These are good tools if you are buying from abroad or for if you are visiting a foreign country. It is also good if you are looking at stock prices or if you are selling something and would know how much of your own currency you are going to get for it.
A Blackberry or Smartphone and your budget entries
Having your budget software on your mobile device makes it a little easier to maintain your budget records. Your mobile device is always with you, so when you want to make a payment you can do it and then add it into your budget there and then (so that you do not forget later).
Accounting software on a desktop computer
This is very good for budgeting and seeing how much you have spent over the last few weeks and months. It is good for creating your book keeping, and very good for compiling your book keeping into accounts for the taxman. Many accounting programs will often do a lot of the mathematics for you too, to be sure that you do not make any mistakes.
Use mobile apps for very specific solutions
Growing dependant upon apps for your Smartphones and tablet devices is not very healthy, however they can be used to provide you with very specific solutions. For example if you have to keep shopping in bursts then you may build up an impressive collection of receipts. There are apps that are able to photograph your receipts and store them for you. You should still keep your receipts, but instead of searching through them every time you need to check a price or enter details, you can look at your app. This is also good for if you have to enter your expenses into an account. You know that you have the receipts, but you do not physically have to sort through them if you want any information from them.
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