Why You Need A Mobile App To Manage Your Financial Life

Dozens if not hundreds of websites have popped up over the years that strive to help people understand their personal finances. But finding the best resources has proven to be a challenge.

What websites and apps have ulterior motives and are secretly promoting their paid subscription? Are you following an investment blog written by clueless people who have zero knowledge of the stock market?

Why You Need A Mobile App To Manage Your Financial Life

The good news is there are many wonderful mobile apps that help people become financially literate and responsible. The even better news? Companies like Bullmarketz recognize the need to help people find what suits their needs by going through a robust testing and review process before offering recommendations.

Simply keeping up with the ever-changing world of finance is becoming more difficult by the day. The COVID-19 pandemic may have permanently changed the global financial landscape and everything we may have thought about savings, investments, and debt is outdated.

But there is help out there.

Why You Need Help

People in their 20s are more likely to need a helping hand in managing their personal finances. Younger people are more likely to be leaving school and entering the workforce and face new sets of problems and challenges they never experienced before.

Perhaps they were living at home with their parents and never needed to budget for rent and food. Or they were living through school on student loans that required minimal or no payments.

Enter real-world problems that come with being a responsible grown up with a job.

Forgot to keep enough money aside for your rent? You risk eviction. Forgot to budget for your credit card payment? Multiple late payments will prevent you from getting a mortgage in the future.

The Power Of Mobile Apps For Personal Finance

Mobile apps are powerful tools that transform the most financially clueless individual into an expert at managing their financial lives within days.

A powerful mobile app can give a user up to date information from all their accounts, including checking and saving accounts, credit cards, loans, and investments. This eliminates the need to bounce around from website to website to analyze your data.

Mobile apps can also be a great reminder tool to pay a bill. Custom notifications are easy to create days in advance a credit card bill must be paid. This should give enough time to transfer money from account to account, if necessary.

Automated payment reminders essentially remove all chances of missing an important bill. Sure, mistakes happen and banks are often very forgiving of the first missed payment but in 2020 and beyond there is no excuse for this to happen at all.

Tracking Your Financial Dreams

The best stock market apps let users track the performance of their stocks and follow the ones they are interested in and have access to relevant news.

There are different apps for different needs when it comes to investing. Anyone who just wants to know if their stock gained or lost value in a day shouldn’t be using the same mobile app that offers detailed analysis with stock market jargon like free cash flow generation.

Speaking of which, want to learn what free cash flow generation is and why it is an important metric to evaluate the investment worthiness of a company? There are certainly many mobile apps dedicated to educational purposes.

Conclusion: You Know What You Need

The internet is a vast place with seemingly unlimited resources to help you become a more financially responsible person. The only factor that prevents you from taking advantage of the wealth of knowledge is your own doing.

The first and most important step is figuring out what it is you want to become: a better saver, a smarter investor, a more responsible user of debt.

After that, it gets a lot easier.