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Using technology to build a better relationship with your finances

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Some people are naturally gifted at understanding and managing their finances, others not so much. If you fall into the latter category but have a desire to begin the transition towards being more educated and efficient with your funds, the answer might be in the palm of your hand, literally. Your smartphone can unlock so many tools to help you to learn more about money in general, your finances specifically, and how to build a relationship with money that feels comfortable.

Identify your needs

Think about your money, and what you need it to do for you, and how much help you need to achieve that. If paying off debt is a big priority for you, look to technology in the form of apps specific to your lenders to help you. An auto loan refinance calculator will estimate your new monthly payment for a 60 or 72 month loan without you having to know anything upfront beyond your credit score and loan balance. Taking the few minutes to play around with a feature like this can show you how much money can be saved from your monthly payment and then you can use that information to learn about the best way to reallocate those funds. Different apps have different features, but you can expect that regardless of your lender, you will have access to some form of on demand customer service. Send over your questions and have a professional do the work to determine the best strategies for you.

Fake it until you make it

Podcasts are amazing because with a simple search you can find multiple options that will cover any topic or genre you could possibly imagine. Sample a few different series and find out which styles, hosts, and topics get you the most excited. Once you learn what you enjoy listening to, create a habit of listening to each episode and you will gain financial knowledge that will lend itself to your own finances without it feeling boring or obligatory. You will hear so many different perspectives on a variety of financial topics that you will provide you comfort almost instantly. Typical phrases and keywords will start to become second nature in your vocabulary and give you the confidence to reassess your own relationship with your hard-earned money.

Go paperless

Bringing your money strategies up to speed might seem unnecessary if it’s not broke don’t fix it kind of mentality but consider it. The convenience and ease of digital banking is going to make a huge impact on your overall management. Apps can help you with tasks as small as simply tracking your spending all the way to putting your reoccurring payments on auto pay so you don’t even have to think about them. Not having to coordinate your entire budget every month is going to give your brain a chance to focus on learning new information instead of being burdened by trying to constantly remember payment dates and account balances. Many institutions are now even offering incentives to go paperless and set up auto pay, so this could save you money in addition to saving you time.