Use tech to save
At the end of last November, we wrote a blog about phone apps that work for you financially. These apps all have different functions, from investing, to creating a savings account, and honestly, we can’t live without them. The great thing about these types of apps is their functionality, and ease of use.
Here are more apps that weren’t mentioned in that blog post:
Paribus keeps track of what you purchase online through your email, whether it’s from Amazon or Macy’s, and if that travel pillow you bought last week is now $10 cheaper on Amazon today, Paribus automatically files price adjustment claims on your behalf. Money back in your pocket.
For those working their way out of debt, DebtTracker Pro can serve as a payoff plan and can help you keep track of your road to financial recovery. Users are able to choose their strategy for overcoming debt and the app not only recommends payment strategies but sends reminders when payments are due.
Finally investing in retirement
It’s never too early to start planning for retirement, and these days it’s hard to count on anyone but yourself to do it, since you never know what’s going to happen with the economy, or with Social Security. Setting aside money for the future, your future, whether in a self-directed IRA, 401k, 403b, or even just a savings or checking account can start you on the path to a financially secure retirement.
Kick that debt to the curb
If you’re one of the 80% of Americans who have debt, now is the time to kick it for good. Let’s be real, this is the big one for a lot of us – freeing yourselves from debt. Whether or not this is a realistic and attainable goal for us all is more dependant upon each individual’s financial situation, and debt amount. Factors like how heavily you are in debt, what type of debt you hold (like credit, car loan, mortgage, etc.), your income level, and the interest rates pertaining to your debt can all play into how quickly or how successful you are in becoming debt free. But remember that it’s not impossible.
Make an emergency fund imperative
If you don’t have one already, starting an emergency fund can be a good New Year’s resolution. You never know what tomorrow might hold when it comes to your finances, but with an emergency fund, you can face the unknown with a bit more confidence. While some financial gurus call for you to have $500 in the bank, you may want to stash a bit more than that. $500 won’t get you far these days, especially if you lose your job. Even one or two months of your average income can go fast, so build up a fund you’re comfortable with. Bear in mind that if you have outstanding credit card debt, you might want to deal with that first to eliminate those costly interest payments.