Are you using your smartphone to it’s full potential? If you are, then you know that it can definitely save you some headaches when it comes to your money. With so many great apps and different notifications, your phone can let you know when your bank is overdrawn, when your credit score has changed, and it can even let you know when you’ve been paid.
Here are some money related things you should be using your smartphone for. It’s better than waiting until you get home only to get online and find out you spent more on that last stop than you actually had available to spend.
Get Your Bank’s App
Nearly every bank, and probably credit union, has an app for smartphones now. With your bank’s app you can get real time updates on your account status. This is excellent when you are out shopping and don’t have a lot of time to keep tallying a bank register.
However, you also need to remember that not all transactions go through immediately. That means you still risk the chance of overdrawing your account if you aren’t keeping a proper tally.
Use The Paypal App
If you shop a lot with Paypal, or you have a Paypal debit card, it can be of great benefit to have their app on your phone as well. You’ll get notifications when money is deposited and you can easily keep track of your spending.
Many store are even letting you pay in store with Paypal now, no debit card needed. This is a great convenience for shoppers that don’t like to carry cash or cards.
Get Text Reminders On Bills Due
Another way your phone can be useful is to sign up with your different utilities to get text alerts when it’s bill time. Even your smartphone company can set this type of alert up. No longer do you have to worry about accidental overdrafts with your scheduled payments.
Keep Up with Your Credit Score
You can find apps that help you monitor your credit and your credit score. That may be able to give you notification when your score changes or when something new is added to your report, so that you know right away. This could help you catch fraudulent charges faster as well.
Not only is this all good to help protect you from things like overdraft fees, but if you are overdrafting all the time, and your credit score is awful, you may find yourself on the path to bankruptcy. Going bankrupt is even worse for your credit and should only be a last resort when it comes to money problems.
Don’t just use your phone to talk, text, and get on social media. Put it to some good use and let it help you keep your credit clean!
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