You probably made some great resolutions at the beginning of the year that you fully intended to keep. You may have even made some financial goals, but how well are you sticking to them? Now that February is here, it may be time to reevaluate and find the tools that you need to keep these goals. There are plenty of tools out there, but here are a few that you really need to be using.
Financial News Websites
There is no point in setting goals if you don’t know what is going on around you. You need knowledge about the financial world to set realistic financial goals. Visit news websites that provide daily updates about the industries of the economy and personal finance. This is particularly important if you are investing in stocks or other fluctuating investments. Keeping up to date on what is going on will help you keep your finances under control and avoid getting stunned by something you didn’t see coming.
There are literally hundreds of budgeting apps that you can choose from, so do some research and find one that works for your method. The best ones will link to your bank account and your cards, allowing you to see your money in real time, without having to constantly be entering every single time you spend money. They can also show you how much money left that you have allocated to each area of your budget, so you don’t go over.
In addition to using a budgeting app, it can be helpful to have your bank’s app downloaded as well. Some mobile banking apps even have a budgeting feature built in so you won’t have to worry about having two apps that work together. Mobile banking allows you to easily manage your account by depositing checks electronically and transferring funds between accounts. Just be careful to only access sensitive information on a secure Wi-Fi channel. You don’t want to hand someone else all your financial information.
Request and review your credit report every year. You’ll need to look for discrepancies and correct them immediately. Credit reports are used to determine your eligibility and the interest rate for almost any loan you get, so this can have a huge impact on you, especially if you are going to be buying a home or car this year.
Auto Bill Pay
If you tend to forget to pay your bills on time, it may be a good idea to set up auto bill pay. Most banks provide this service free of charge, allowing you to stress less about your bill payments. If you decide to do this, you do need to make sure you have enough money in your bank account when the bills come due to avoid an overdraft charge. If you don’t like the idea of automatic payments, consider setting yourself a reminder to pay your bills.
This year, improve the ways that you handle your personal finances. Find tools to help with any money management, whether it’s paying bills or reviewing your credit. By the end of the year, be sure to succeed at achieving many of your financial goals.