Keeping track of your finances can be a time-consuming activity. However, you do want to stay on top of things so you don’t find yourself overdrawing your account. The good news is that technology offers plenty of ways for you to streamline your finances and save a little time.
Automate Your Finances
One of the best ways to save time with your finances is to automate as many processes as possible. Direct deposit allows you to have your income put straight into your bank account. You can also arrange for automatic bill pay. Recurring bills can be debited from your account on the same day each month, saving you the time it would take to write and mail checks. It is also possible to have other debits, such as to an investment account or a transfer to a savings account, automated as well.
When you automate your finances, you streamline the process, and create a situation in which you do not have to spend as much time working on mundane tasks related to your finances. These simple, every day transactions simply take care of themselves. However, you still need to make sure you know what is happening with your finances. You can keep tabs on things with the help of Finance 2.0 applications.
Web 2.0 Financial Applications
Not only can you schedule different transactions to take place automatically, but you can also get regular, automatic updates related to your bank accounts. Web 2.0 financial applications help you link to your bank account(s), receiving instant access to your latest transactions. Some of the financial applications that can help you include:
- Mint.com: This is one of the most popular financial applications. You can link Mint.com to your account, and log in to see when transactions clear, and see what automatic transactions are due to take place. There is no need to log in to each individual account; you can manage them from one place with Mint, saving time. Mint also has a mobile app so you can take it with you, accessing your financial information wherever you are.
- SplashMoney: This mobile money app is designed to connect to your bank. You need to have online account access at your bank, but once you are in, you can keep track of all of your accounts, from retirement accounts to your PayPal account. Quickly assess your finances and your spending with custom charts and graphs.
- Billeo: Organize your monthly bills with this handy application. You can actually use a Fill Form provided by Billeo to store basic information to use each time you make online purchases. You can save time without having to enter that information each time you buy something online.
- BillShrink: Don’t have the time to comparison shop for a cell phone plan or the best credit card? That’s what BillShrink is for. You can use this site to find the best deals on common expenses.
- Bank account notifications: There are a number of applications and banks that offer this service. The idea is that you can get an email or text message to notify you regularly of your account balance, so you don’t have to log in to check it. You can also receive alerts when your balance reaches a certain level.
While these applications can’t completely replace the need for your financial vigilance, they can make keeping track of your finances a little easier – and less time consuming.