Technology and modern advancement exist to make life easier in all facets, including your finances. Using the right tools can make your financial goals easier to visualize, stick to, and obtain.
Smart Credit Card Choices
Credit cards, when used wisely, can help you keep track of your monthly spending and build your credit for when you want to make larger purchases, like a car or a home. Unfortunately, they can also get out of hand very easily. Choosing the right type of credit card and paying it off in full every month will allow you to make the system work for you instead of the other way around.
Find the credit cards that give the greatest benefit to you. There are cards that offer things like Aeroplan, cash back rewards, discounts on frequently purchased items, like gasoline, and many others. Most of these cards have significant sign up bonuses, so be sure to take full advantage of these. Some cards will even provide you with free concierge services and other benefits. As your credit improves, apply for cards with better benefits, rather than staying with the card you were able to get right out of school.
Mint is a free program that provides a streamlined platform to manage your budget. It has both a free app and a website that links to your accounts, savings, investments, and credit cards. It does not affect your money itself, but keeps track of where it is all going. Purchases made on a card a sorted into categories such as food, entertainment, and transportation so you can see where the majority of your money is going each month and adjust accordingly. You can also input your own budget for different types of purchases and Mint will warn you when you are going over your limit for the month.
You Need A Budget
YNAB is an app for Android, iPhone, and Windows. It has an array of budgeting tools, but the real benefit of this app comes from the education. It gives users access to a number of tutorials and financial classes to help you learn how to control your money. There is also a large community of users who can support you and give you advice in your goals.
Financial planning doesn’t have to be obscure and difficult. With a few simple apps, you can get your money under control, pay down debt, and start saving for your future.