It’s fairly common for people to make resolutions at the beginning of the year. Among the most common resolutions are those that have to do with money.
Even if you don’t have a specific resolution related to money for this new year, you can still improve your finances.
One way to do that is with the help of fintech applications that can make your life (and finances) easier to manage.
As you prepare for 2017, here are some ways that fintech can help you:
1. Keep Track of Your Money
One of the best ways fintech applications can help you is by helping you keep track of where your money is going and where it comes from.
Budget tracking is one of the best ways to identify patterns, including wasteful spending. Tracking your money is one of the best ways to gain control of your finances because it gives you the information you need to make better choices.
You can use any number of applications to help you keep track of your budget, including Mint, Personal Capital, Moneydance, YNAB, and more. Do a little research to see which application is likely to match your style, and then get to work tracking your finances.
2. Pay Down Your Debt
According to a survey from Student Loan Hero, “pay off debt” is the most popular financial resolution for 2017. Along with that, the biggest money regret of 2016 was not paying off enough debt.
The good news is that fintech can help you with paying down debt as well. There are apps out there that will help you sync your debts and manage your paydown. You can even get help figuring out what order to tackle them in.
The Pay Off Debt app from The Debt Myth is a great place to start. There are also apps like Unbury.me and Debt Eliminator that can help you make a plan.
Other services actually access your loans and help you stay on top of your repayment plan all along the way. With the help of fintech debt repayment apps, you can get back on top of the situation in 2017.
The rise of robo-advisors makes it easier than ever to invest, even if you don’t have a lot of money.
Fintech apps help you get started, whether you are using Betterment or FutureAdvisor, or whether you are looking into something like Acorns. There are a number of investing apps out there, even from old-school investment firms like Schwab.
If you haven’t started investing, now is a good time, and there are ways to do it with as little as $5 a month, depending on the app you choose.
4. Run Your Business
Don’t forget to make investments in your business this year. You can also use fintech to manage your business, no matter where you are. It’s possible to manage your affairs from your phone, whether you are invoicing or even writing something quickly.
You can make money using the internet and a suite of tools. Fintech applications like Due can help you manage your digital wallet and client payments, along with providing you with other help tools that can help your business run globally.
We have unprecedented opportunities today, thanks to technology. Take a look at what’s out there and use fintech to boost your finances in the coming year.