Sometimes it seems after all the technological advancements that have happened in the last 20 years, the bulk of the way that we use them is to watch funny videos of dogs on Youtube, to send our friends pictures of what we are wearing on Snapchat, and to get into heated political exchanges with distant family members on Facebook.
All fine and good (and seriously, if you find a cute dog video send it our way) but it’s also important to get familiar with the technological advancements that can actually help, especially when it comes to managing money better.
Here are eight tech trends that are totally changing the game when it comes to how people save, spend and grow their money. Take notes, because these are all pretty useful.
1. People Are Investing In The Stock Market Right On Their Phones
As you get serious about working towards your financial goals (good on you) you may be considering turning to a financial advisor or broker to help you manage your investment portfolio. The problem: Their services can cost thousands of dollars per year. You can save yourself a ton of money, and even get more benefits–like a stock-back debit card–when you invest with Stash.
Start investing with Stash with as little as $5 and pay as low as $1 a month, for portfolio management. The app provides hundreds of stocks, bonds and funds to choose from. It also offers educational resources filled with investing news, tips, tricks and need-to-knows for newbie investors.
It’s no wonder why 3.5 million people are using Stash. This is revolutionary stuff, you guys!
2. There’s An App That Is Helping People Save Thousands Of Dollars
Need an extra kick in the butt to save money for that vacation you’ve been dreaming about? Thanks to the app Digit, saving is the easiest it’s ever been.
Link a checking account to Digit, tell the app what you’re saving for and, using an algorithm based on your income and spending habits, Digit will find a little money every few days to tuck away for safekeeping in your account. Don’t worry, you’ll still have enough money on-hand to spend however you like.
Just imagine how much money you could save in a month or a year. Many people are already using this to save thousands, and using that money to do things like travel and pay for their weddings.
3. Married And Growing Wealth As A Couple? There’s An App For That
Figuring out the logistics of paying for dinner dates and movie nights is a lot easier than saving for a house or a new car. Even so, if you and your partner are considering coming together on a major purchase or expense, it’s time to get serious about saving as a team and Twine can help.
Twine is an app that makes saving as a couple easier and helps you grow your money faster.
Sign up for Twine and with an initial deposit of just $5, you and a partner (or just you) can open a savings account with a variable interest rate of 0.78%. That’s more than eight times the national average for savings accounts. Create as many savings goals as you want with your partner and watch your money grow from your contributions and interest from your account.
If you think investing would be better for meeting a particular goal, the pair of you can put your money to work in an investment account starting with $100. Create a portfolio that matches your financial situation and risk comfort with guidance from Twine and start seeing a return on your money.
Link a checking account for easy transfers to and from either account free of charge.
Whichever route you take, you’re bound to see your money grow at a faster rate going at it as a couple. At the end of the day, all anyone wants to do is grow their money as efficiently as possible, right?
4. A.I. Is Helping People Get Affordable Home Insurance
A house is so much more than a structure you live in. It’s your haven–a place full of memories, the people and things that are important to you and in a way, a representation of who you are, maybe even who you want to be.
That said, you want to protect your stuff, but don’t have a fortune to do it.
Enter Lemonade, a low-cost, A.I. powered home and renters insurer that’s turning the industry on its head.
Unlike traditional insurance companies that that charge high premiums only to drag their feet on claim payout (because for them it means losing money), Lemonade only charges a monthly flat fee and whatever money goes unclaimed goes to a cause of your choice. This eliminates the conflicting interest between policyholders and their insurance companies.
Chat with Lemonade’s A.I. bot Maya to apply for a policy in 90 seconds. Just tell her the details of where you live, swipe through a few more simple questions and Maya will craft a personalized policy based on your answers. Adjust your coverage as needed before moving forward with the policy, make your first payment through the app and just like that you’re insured. Afterward, select a cause you care about to give back to. You can get a renters insurance policy for as low as $5 and home insurance starting at $25.
The app’s A.I. technology also makes filing a claim just as easy. Start a chat with its A.I. bot, Jim. Send him a video explaining what happened, then with Jim’s help, you’ll make a list of what was damaged or stolen and Jim will generate a claim for you. Within 3 minutes you’ll get your claim approval and your money will be wired to your bank account.
Get a policy with Lemonade and you’ll rest easy knowing your home is well protected and that you’re doing your part to make the world a better place.
5. Banking Is Going Virtual To Save People Money
These days most things can be done from the convenience of your phone and now, thanks to modern technology, you can bank completely online too. You’re probably asking yourself “Arent’ there already banks with mobile banking features?” Yeah, there are, but most of them still require you to come into physical branches for certain transactions (who has the time) and none of them come with all the time and money-saving benefits that Chime does–one of the best mobile banks out there.
Create a bank account with Chime and you won’t have to deal with a minimum balance requirement, you’ll never be charged a maintenance fee or a foreign transaction fee, plus you’ll get overdraft coverage of $100 or more and access to more than 38,000 fee-free ATMs. How many banks do you know that offer all of that? That’s not even all of the perks you’ll get to enjoy.
Access your paycheck two days ahead of schedule when you set up direct deposit. The bank will also help you meet your savings goals faster by rounding up all transactions made on your Chime debit card to the nearest dollar and depositing the difference in your savings account. The more you use your card, the more you save.
If you want a bank that fits your schedule and doesn’t charge a dime for its services, Chime is your best bet.
6. Need To Negotiate Your Bills Down? There’s An App For That
Do you have cable or cellphone bill you’re locked into but know for a fact you could get the same service elsewhere at a better price? We can’t get you out of your contract, but we know an awesome app that will do whatever it can to save you money on your bill–Truebill.
Connect a bill to the app and it will actually negotiate on your behalf with your service provider to get you savings on it. Log in to your service provider account to link your bill through Truebill or upload a photo of it to the app. The bill will get assigned an expert who can either get you a better rate or a one-time credit that can be applied to your account.
Truebill also gets users refunds for service outages. You remember that time your Wi-Fi decided to pack it up for a week? Truebill could have gotten you some money back.
7. Good-Bye Predatory Payday Loans. Hello Earnin.
Everyone loves the feeling they get when their direct deposit hits their account, but for most, its short-lived because of money-sucking bills that leave little to nothing of it leftover. Over the next two weeks, as you’ve done time and time again, you pinch pennies while you wait for the next one, hoping no other expenses pop up. Tired of the cycle? Enter Earnin.
Just link a checking account and enter your job information so the app can get a read on your pay cycle. Turn in your timesheets daily and just like that, you’ll be able to cash out up to $100 a day from your hard-earned money on the same day you earned it. When your official paycheck officially hits your account, Earnin will just deduct what you’ve already withdrawn.
I know what you’re gonna ask next, and no, using Earnin won’t cost you a penny. The service is 100% free. All Earnin asks in return is that you tip what you can when you can to keep the work it’s does going.
8. Stores Might Owe You Money — This App Will Get It For You
You know that high you get after finally buying something you’ve been eyeballing for weeks? Ever have it ruined by a sudden drop in price days after you bought it? If so, Paribus is about to become one of your favorite apps.
Sign up for Paribus and you’ll get refunded the difference on prices drops via gift cards or cash back to whatever card you used for the purchase. The app is a price tracker that scans your email for digital receipts from the 25 stores it monitors, including Amazon, Nordstrom, Target, Macy’s Walmart and more. If it happens to find any kind of price drop on an item you bought at any one of those stores that’s still eligible for returns, Paribus will automatically reach out to the store on your behalf and work to get you your money back.
This app will be a real money saver for all your online shopping.