4 Ways To Repair Your Finances With Technology
It may seem like today’s gadgets only exist to make us spend more money, but some can actually help us save money. If you’re financially struggling, here are just a few examples of how you can use modern technology to tackle your debts.
Use online banking
Having online banking can make it much easier to stay on top one’s finances. You can access your balance from any location providing you have Wi-Fi, cutting out the time and effort spent having to trek to a cashpoint. You can scan your balance every week to check you’re not overspending, and readjust your spendings for the next week if you have. Online banking is extremely secure – just make sure you provide a strong password and that you don’t share it with anyone.
Get a credit builder card
A bad credit rating can prevent you from being able to take out important loans such as car loans and mortgages. Fortunately, there are now special cards that can help repair your credit score. To use these cards you’re advised to spend small amounts on them and then pay back these small amounts each month as if you were using a credit card. After a year of regular monthly payments, your credit score will be fully repaired – the credit builder card company will put in a good word to anyone looking up your credit score. Use comparison sites to find the best rates.
Download budgeting apps
There are apps to help you out with every issue in life from losing weight to breaking a smoking habit. It should be no surprise that there are also many apps out there to help you budget your finances better. This post The 5 Best Budgeting Apps to Take Control of Your Finances is well worth a read for giving you a run-down on the example available. Many of the apps are free to download and their portable access means that you can keep them updated throughout your day. They’re more secure than writing all your expenses down in a diary and come with clever calculating tools allowing you effectively budget each week. It’s like carrying a personal financial advisor around in your pocket.
Buy a digital piggy bank
Many people keep a jar for saving up loose change. However, there are better solutions out there, namely digital piggy banks. Many of these are able to count the coins as you enter them so you know exactly how much you’ve saved up. If you’re saving towards something, this can be extremely useful, preventing you from breaking into the bank too early. However, if you prefer the element of surprise, you may wish to keep with a jar.
You can also buy mini ATMs for extracting a select amount of change. You can insert your pounds in here and then take them out individually for when you need them. It could save the hassle of carrying around a wallet full of change.