Nov 29, 2020 | Updated: 08:53 PM EST

Can Apps Help You with Your Money Problems?

Feb 21, 2020 11:43 PM EST

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Can Apps Help You with Your Money Problems?
(Photo : Unsplash)

Maybe you're living from paycheque to paycheque and wondering how you can cut some costs. Maybe you're always forgetting about your bill payments and racking up late fees. Or maybe you seem to overspend every time you go out shopping, and you want to be savvier with your purchases. Whatever money problem you want to address, you should know that there's an app for it. 

Money Problem: Debt 

Getting out of debt on your own is a challenge. To stay on track with this ambitious goal, you should download budgeting apps to monitor your spending, optimize your savings and steadily pare down that mountain of debt. An app like You Need A Budget will help you organize your income into essential categories and push towards your financial target. 

It's true that you can make a budget in a notebook, but this option is ideal for anyone who is having trouble sticking with their savings plans and tackling their debts. An app can show you important online workshops and send you reports on your progress. And they offer personal support, in case you have any questions. 

If you're feeling overwhelmed with your debt and you're not sure how you're going to pay it off, you should also go to a licensed insolvency trustee for help. A firm like David Sklar & Associates can assist you with stronger methods of debt relief like consumer proposals and Division 1 Proposals. So, when you're discouraged about your budgeting attempts, you can call up a trustee for a consultation. 

Money Problem: Late Fees

You keep missing out on bill payments, and you're collecting late fees every single month. If these important payments keep slipping your mind, you can get apps to organize all of the different deadlines and send you reminders before they arrive. Here are some options that you can choose:

  • Prism Bills

  • Due

  • Bills Monitor

  • Easy Bills

  • MyBills

Another solution for this money problem is to download your mobile banking app so that you can check your accounts on the go. To guarantee that you don't get more late fees, you can automate your bill payments so that they get paid by the due dates, even if you forget about them. 

Money Problem: Spending Big 

Whenever you look at your bank balance after a shopping trip, you wonder how you managed to spend so much. Where did it all go? If you need some help reining in your spending, you should download apps that are designed to show you the best bargains nearby. For instance, an app like Gas Buddy will help you find the cheapest gas in your area so that you can fill up your tank for a good price. 

Here are some other apps that will share coupons, promotion codes and other types of deals with you:

  • Flipp

  • Honey

  • SnipSnap

  • RetailMeNot

  • GroceryPal

Sometimes the solution to your money problems is sitting in your pocket, right next to your wallet. Use your smartphone to your advantage and download apps that encourage you to chip away at your debt, shrink your shopping sprees and pay your bills on time. 

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