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Boost Your Finances: 6 Ways Your Smartphone Can Help

While smartphones offer a myriad of functionalities, their hefty price tags often lead consumers to ponder the reasoning behind such costs.


Apr. 2 2024, Published 2:36 p.m. ET

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Could it be attributed to their high-end security attributes, intricate GPS systems, and sophisticated accessories, or is it merely a result of our readiness to splurge on these additional perks? To shed light on this, we've put together a detailed analysis of the expenses involved, allowing you to see precisely how your funds are allocated. If the thought has crossed your mind that perhaps it's time for your expensive phone to start compensating for its cost, we're here to help. Below, discover eight clever methods by which your smartphone can actually contribute to your savings.

1. Budgeting

Beginning with the fundamentals is key. Establishing a financial plan is pivotal in managing your finances, particularly in today's digital era where it's all too easy to exceed your spending limits. Without monitoring your expenditures diligently, the true nature of your financial outflows, the cumulative impact of your spending patterns, and potential areas for cost reduction will elude you.

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The thought of budgeting might provoke dread among many, but it needn't be an overwhelming endeavor. Forget mundane spreadsheets or perplexing programs; your smartphone is equipped with straightforward yet powerful tools. A multitude of applications are at your disposal, ready to help you allocate your funds for the upcoming month. Names like NerdWallet and Goodbudget stand out among the array of tools available to assist you in monitoring and organizing your expenses, compiling transaction records, establishing spending categories, overseeing bills, and keeping tabs on your credit score.

Almost always we are not talking about finance phones, but about applications for any smartphone. If your work is related to data (photos, videos, instant messengers and social networks), you are familiar with the problem of lack of space. There is a solution - phone cleaner. What stands out from the competition is CleanUp App - Phone Cleaner with its smart search. The use of AI and ML technology in the phone app made it possible to accurately identify garbage, unsuccessful takes and other temporary data. This way you can clear even the most dirty smartphone memory in a couple of minutes.

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2. Product Review Sites

Why should you squander precious time and resources on subpar customer service or products that fail to delight? Fortunately, in our customer-centric marketplace, this is no longer necessary. A swift search for business reviews can save you from the pitfalls of poor-quality companies, sparing you the stress and inconvenience of haggling with uncooperative store owners for a refund.

3. Facilitate Work Opportunities

Unwinding post-work is essential, but if you're keen on accelerating your career growth, the answer lies at your fingertips - literally.

With your smartphone as a powerful tool, your office glides seamlessly into your pocket. Equip yourself with work emails, instant messaging apps, and cloud services accessible no matter where you are. Keep the pulse of your team's dynamics, cater to client needs on the fly, and review critical performance data at your convenience. Integrating brief check-ins and timely responses into your day can be done with minimal intrusion into your personal time.

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For freelancers particularly, the benefits are instantaneous. Harness the flexibility of managing your progress directly from your phone, and watch as opportunities unfold with every swipe and tap.

4. Online Surveys

Fielding inquiries about companies is a frequent online activity. Yet occasionally, it might seem as though this participation is eating into valuable time — and as they say, time equates to currency.

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Thankfully, there are online questionnaires that provide a small compensation for your input, making them a potential benefit during leisure periods. While the earnings might be minimal to begin with, perseverance could potentially turn into a tidy sum for discretionary expenses, all from the convenience of your smartphone.

5. Mobile Banking

While small fees may seem insignificant, they contribute to long-term savings. Mobile banking offers convenient access to essential account functions, reducing the need for physical bank visits. This not only conserves time—allowing you to focus on income-generating activities—but also cuts down on fuel costs and vehicle maintenance.

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Furthermore, mobile banking technology negates the need for costly wire transfer fees by providing complimentary ACH transfers. It also eliminates the necessity of visiting the post office for postage, as you can manage bill payments directly from your smartphone.

6. Investment Apps

Many applications now provide the convenience of investing in stocks and mutual funds directly through their platforms. In addition to the proprietary applications offered by traditional brokerage firms, there are apps such as Kuvera, Scripbox, and Groww which specialize in direct mutual fund investments, offering a more cost-effective approach. The ease of use is amplified by straightforward and paperless Know Your Customer (KYC) procedures implemented within these apps. Additionally, they are equipped with advisory services to assist investors in selecting suitable stocks and mutual funds. These apps enhance the investment experience by consolidating all your financial ventures onto a single dashboard, with the added benefit of being able to effortlessly withdraw your funds straight from the application itself.

Maximize the potential of your smartphone. Explore extensive buying choices and monetize your screen time efficiently. Minimize aimless scrolling and optimize device usage. Conserve energy, enhance personal interactions, and bolster career opportunities simultaneously. Ultimately, witness a multitude of benefits unfold.

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