Using Your Smartphone To Save Money-Part 2: Budgeting

As we previously discussed, there are several ways to use your smartphone to save money. Last week we covered coupons and coupon apps. Today we will go over one of the most effective ways to save money with your smartphone. Budgeting! There are so many simple way to use your smartphone to better manage your money.

Using Your Smartphone To Save Money By Budgeting

Here are some ideas:

1. Budget Apps: There are many budgeting apps out there. This include EveryDollar, Mint, Unsplurged and Wally. Some of them have their own themes, but all of them have a great system. This may be your best option for budgeting on the go, especially with a partner or other member of your family. Each person who contributed to the budget can log in and see what is being spent. There is no better transparency! Once you set it up, you just log in and enter your expenses right as you spend.
2. iBooks: If you have an iPhone, this one is for you. It may seem like a goofy idea, but there are several Excel spreadsheets I use for budgeting at home and at work. You can easily save these as PDF’s right to your iBooks app. When I am out and about I can refer to the perimeters set in these documents. This is far more old school than a budgeting app, but sometimes old dogs don’t like new tricks, and that’s okay!
3. Banking: I remember when I was growing up, my mom or dad would set aside hours to “pay the bills” or take care of “banking” – now I can’t even remember the last time I physically went to the bank! It is so easy to check your account balances right from your smartphone. You can also transfer money, pay bills, and many banks will even let you deposit checks…wow!
4. Calculator: I remember walking through the store as a child and seeing organized customers with a calculator and a grocery list. Now we can easily solve any math issue with the touch of a few buttons. Add up your groceries as you go or figure out what your next check will be (if you are paid hourly or on commission).
5. Communication: This last one is saved for those who are budgeting with a partner. If a budgeting app isn’t your thing, at least you can check in about purchases. We make hundreds of decisions per day and many of them have to do with money. A plan or budget can easily go awry if two people are spending money separately. Being on the same page has never been easier!

In closing, some of the above ideas may seem simple. But just like any tool, they only work if you use them! Why not use all of this brilliant technology? Save more money by utilizing all that little device has to offer!