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How Mobile Devices Are Making Money Management More Accessible

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  • On January 22, 2018

There is no doubt that mobile devices are making money management more accessible. In order to do this, mobile devices allow you to access and manage your financial information wherever, whenever. From mobile banking to other smart money management apps, find out how mobile devices are making money management more accessible below.

Convenience Of 24/7 Online Access

Usually, people have a multitude of different bank accounts and credit cards they need to keep track of in order to manage them successfully, and this is not an easy task. However, with apps and access to the internet on the go, wherever they are in the world, consumers are able to manage multiple accounts, including saving accounts and tracking accounts easily. Having each of these accounts in one place ultimately helps consumers to carefully monitor their spending habits. You can easily identify what your money is being spent on, and where you most definitely need to cut back!

Not only does this help you to save money in the long run, but it means you can manage your money in one place, and thus don’t have to log into multiple accounts at once in order to attain the information you are looking for, which is far more convenient that walking into a branch. In addition to this, you are also able to access other financial services. If you are facing a financial emergency, then you can apply for a Wizz cash pay day loan, and if your loan application is accepted, you could receive the funds relatively quickly. This can all be carried out conveniently, no matter the time of day, on your mobile device.

Mobile Banking

Most, if not all, banks will have a mobile app that enables you to truly take advantage of online banking on your mobile phone. As well as making mobile banking even more convenient as explained in further detail below, this enables us to manage our money far more effectively, as we can complete a number of actions directly from our mobile device. You can do numerous things on your mobile device when it comes to mobile banking, including:

  • Pay bills, and people

  • Transfer money between your account

  • View your balance

  • Explore your transactional history

  • View your financial portfolio

  • Deposit checks

When using mobile banking, however, it is paramount that you access this information on a secure network and avoid using public WiFi. There are plenty of reasons why you should never use public WiFi for mobile banking, including that when you access mobile banking using an insecure network, you are likely to become victim to an attacker or subject to fraud. Similarly, you should never use public charging stations, because the moment you plug your phone into a public USB port an attacker can download the files stored on your mobile device in seconds and install malware onto your device that may record your keystrokes, and thus enable the attacker to gain access to your online bank account.

Smart Money Management Apps

Today, there are numerous apps to help you manage your money. Mint, is just one option on the market to choose from, and the free app is an all-in-one resource for creating a budget. As well as creating a budget, when you use the app, you can also track your spending, and thus break your bad spending habits, whether it is buying fancy coffee or carelessly spending your cash. What’s more is that with Mint, you are able to connect all of your bank and credit card accounts, including your monthly bills, so all of your finances can be managed in one convenient place from your mobile device. Managing your money has never been easier!

Targeted Recommendations

Above all, mobile devices are making money management more accessible thanks to targeted recommendations. If you have ever noticed an advertisement pop up onto your screen for a product or service that you have recently viewed, you will know exactly what we are talking about! Data tracking on mobile payment apps in particular provides an overabundance of information that can be used to the consumer’s advantage, and thus enhances the overall money management experience. Ultimately, targeted recommendations can help predict mobile users’ needs and provide actionable advice in order to help users attain the best options in order to manage and save money.

Regardless of your bad spending habits, it is evident that mobile devices are making money management more accessible, which is essential for those that want to crack down on their spending in the new year. How do you plan to manage your money?