Using Your Smartphone to Help Manage Money

Aug 14, 2018
   

How often do you check your phone? If you’re like most people in the U.S., then it’s almost 50 times every day. Given this high level of usage, a surprisingly low number of consumers are using their phone to manage their finances; about one in three report making an in-store payment using their mobile device. 

Using your smartphone to help manage your funds can be convenient and can help ensure better budgeting.

If you find yourself with your phone at your hip, but aren’t sure how it can help your bottom line, we’ve got some ideas to help.

Photo of women on a phone

Get a passcode

First things first…make sure you’ve got your phone (and all the personal information it stores) protected with a passcode or fingerprint. Your phone contains information about where you bank, where you live, health-related details, and an assortment of other information ripe for identity thieves picking.

Use a digital wallet

Apple Pay or Google Pay allow you to pay for in-store purchases without having to haul out your physical card. Just like when you use your card the old fashioned way, your purchase and card number stays secure. Simply visit your phone’s digital wallet to add your Washington Federal debit card, or follow these handy instructions.

When you’re at the register, just scan your phone over the terminal – and voila!

Download a budgeting app

Don’t wait until you’re home to balance your budget. Many apps make it easy and will automatically categorize your spending for you, like MoneySync

MoneySync automatically tracks spending across your accounts – regardless of which bank or credit they’re with – and will deduct that amount from your pre-determined budget. It’ll even notify you when you get close to overspending.