How technology can help you improve your financial literacy

by Burton Kelso, The Tech Expert

April is Financial Literacy Month. Started in 2004, the purpose of this month is to help people gain access to financial education and understanding of financial services and products. Individuals and businesses are still struggling with the effects of the global pandemic, but fortunately, technology can help solve the problems people experience with finances. If you're struggling with financial literacy as well as your finances, I encourage you to check out the following apps.

YNAB (You Need A Budget).  This budgeting app works great because it helps you create a budget for yourself or your family. It works by streamlining your financial information from different sources into a single, easy to read interface interface that helps you focus on making decisions, not gathering data. By showing you how much money you have available you can set budget goals and you can spend without worrying we’re compromising your long-term goals. 

HoneyDue. If you are looking for a free app that works for couples, check out Honeydue. This app empowers couples to gain visibility into their finances and collaborate effectively on money matters. It offers the ability to link, loans, investments, and bank accounts for real-time tracking. Couples can oversee expenses as individual or shared.  You also get bill reminders for upcoming due dates.

Credit Karma. Credit Karma is a helpful app that provides you with valuable financial information. It allows you to see your credit score from the three major credit bureaus: Equifax, Experian, and TransUnion. This app will also help you with approval odds with credit cards as well as free ID monitoring to help protect you from Identity theft.

Stash. This investing app is for beginners. It offers automated investing with a Smart Portfolio, self-directed investing in stocks and ETFs, and a Stock-Back® Debit Card that earns stock rewards. Get personalized advice, market insights, and security features.

Empower Personal Dashboard.  This app consolidates your financial life, allowing you to link all your accounts for a holistic view. You can track your net worth, manage budgets, plan for retirement, monitor investments, and benefit from robust security features. Fiduciary services are also available for substantial holdings.

PocketGuard is an all-in-one budgeting app that simplifies personal finance. Connect your accounts, categorize expenses, and get a snapshot of your finances. It helps manage debt and set SMART goals. 

Hopefully, this has introduced you to apps that will help you improve your financial literacy and maintain smart money management habits. If you have any questions, please reach out. I'm always available.

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