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The modern smartphone has proven to be an innovative tool for personal and business finances. There are many tools and support functions that ameliorate the whole process of managing money. So, it makes sense to get involved with the process and feel the benefits for yourself. Considering that so many people have a bank account and a phone, the two things can coincide fairly easily. Here are all the ways to use an android smartphone to manage your money.
Create a Phone Wallet
All the cards in your physical purse or wallet can be moved onto your virtual one. Your phone can store the details of your card numbers and loyalty accounts, connect to your bank, and more to enable a singular model system of payment provision that eliminates the need to carry your bank cards around. This is safer, makes your finances more protected, and means if you happen to forget your wallet, your phone can save the day. It is easy to set up and definitely worth exploring.
Banking Apps
You probably use online banking, so moving onto the app is a natural step. Most functions that you need are available on your mobile, but there might be restrictions on transfer limits and similar factors that vary between banks. These mediums have become so popular in recent years, that the world has even seen the brand-new model of purely mobile banking apps that exist in no other format. They utilize modern encryption technology to ensure user safety, have instant responses and adapt to the B2C and even B2B consumer trends to provide a service that people actually want.
Safe Mobile Transfers
You can even take advantage of online transfer sites. Using sites like Ria Money Transfer to send money is a largely positive experience and one that many people swear by. The process is fast and convenient, and with the added advantage of being on your phone, it can happen anywhere you like. The days where you had to physically go into a building and go through the lengthy process with a clerk are long gone — the future is sites like this.
Budget Support
Banking apps and budget specific programs have boosted the individual’s capacity to control and track their finances. There are developments that even allow you to cap your spending, round up payments to move into a savings pot, plan your weekly or monthly finances and stay alert with your account security in real time. For people who struggle to find a rhythm with their incomings and outgoings, this is the perfect solution. This is something you can have on hand at all times to fall back on when the time calls for it.
It’s not something that people typically like to talk about, but it is undeniably worth the conversation. Staying up to date with your money has never been easier. The modern world of technology and all that has to offer has changed the game for personal finance and continues to provide new, intriguing methods for engaging with your money.
Author Bio: Tricia Lee is a contributing writer at Sparkwebs, a Digital Marketing Agency. When she’s not writing, she loves to travel, dance, and read non-fiction.
Featured Image Credit: Pixabay