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Digital Life: Software to Help with Finances

Living in the digital age means that there’s a wide range of software available to help you manage and keep track of your finances. Are you making the most of the services out there? We’ve compiled a list of some of the services offered by financial apps and software that can help you find the financial solutions you’re looking for.

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Financial Apps Services

Balancing Your Budget

Making and keeping a budget sounds simple in theory, but it’s a practice many people struggle with. Keeping track of what you spend and prioritizing expenses can get complicated quickly, causing many people to either stop budgeting or never start at all.

Many budgeting apps, like PocketGuard, will crunch the numbers and show you how much money you have available after factoring your bills, spending habits, and savings goal contributions. This essentially tells you what’s left in your pocket after expenses.

Managing Your Bills and Accounts 

With many companies switching over to electronic bill pay, it can be hard to keep track of how much money you owe versus how much you have. This type of app lets you manage all of your finances in one central location.

Apps like Intuit’s Mint keep you updated on when bills are due and what you owe, even sending you reminders so you don’t forget. Another app called Penny, an automated chatbot, can text with you to answer financial questions and even alert you when a bill is about to be due.

Save Money Faster 

Some apps don’t just tell you how much to save, they actually do the saving for you. If your goal is to start saving money but you’re having trouble regularly setting funds aside, these apps help do it for you.

Apps like Digit, whose tagline is “Save money, without thinking about it,” automatically scan your income and spending patterns and transfer a small amount of savings that you won’t necessarily need into a separate account. Another creative way to save is through the use of the app Acorns. Whenever you spend money with your linked card, Acorn takes the change and puts it into a separate investment account. So for example, if you buy a cup of coffee for $1.50, Acorn will round that up to $2 and put the remaining 50 cents into the investment account so you save a little every time you spend.

Pay People Back 

In the not-so-distant past, paying back friends and family was a real hassle. If someone didn’t have the funds on them right away, there was a decent chance you would never see that money returned to you. However, now there are financial apps that let you pay people back and request the money they owe you right away. The funds are transferred electronically, making the whole process quick and painless.

Programs that allow you to transfer funds from person to person include apps like Venmo, which allows you to pay someone back with a message attached to note what the payment is for. With Venmo, you can also charge people what they owe you as well. Google also has a funds transfer app called Google Wallet, which hooks up to your Gmail account to make the exchange simple.

Personal Connections You Can Trust

There are many amazing ways that financial apps enable people to better manage their money. However, there is still nothing that beats sitting down with a financial expert for personalized service. The Trusted Advisors at Union Community Bank can offer assistance and expert advice for a wide variety of financial matters – from business cash flow, to debt consolidation, to planning for retirement.

Contact your local Union Community Bank and set up an appointment today – or visit one of our 14 convenient locations in Lancaster County.

P.S. Want to know how to keep your information safe on apps? Check out our app safety best practices.

 

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