Let’s face it – money is being watched with a much more vigilant eye these days. And with the hectic lives we lead, it can often be stressful and tedious to be as heedful as we should be. However, with the technologies available today, there are no excuses.
Online banking is great, simply put. With many online services, consumers can set up automatic, recurring payments, so a payment should never be late or missed. Some online banking services allow users to set up email and text alerts to inform when balances are dipping, so the dreadful overdraft can be easily avoided. And just the simple ability to watch account activity is a great tool in itself.
The ability to do your banking via a mobile device is another revolutionary tool that should certainly aid in the fight to be more financially attentive. The on-the-go convenience comes in quite handy when you are on the road or remember you need to pay a bill while sitting through a four-hour meeting.
Budgeting is yet another area that has taken a turn for the better. With free online services such as Mint, you have the ability to track and record expenses and payments right at your fingertips. Knowing where you are spending and the frequency of those expenditures can really open up your eyes, allowing you to use your resources wisely.
And lastly, my new favorite service, BillMonk, masks the slight awkwardness of having to ask friends and roommates for money they owe. This free online service allows users to track, calculate and split expenses for a recent trip or monthly living. It also lets you keep track of non-monetary items, such as books and clothing you have loaned out. Furthermore, BillMonk also ties into Obopay, which is a mobile payment service that allows you to settle payments with friends via cellular devices for a small fee.
Online and mobile banking, email and text message alerts, budgeting tools and payment services are drastically improving our financial capabilities. Excuses are becoming harder to come by for missing a payment or losing track of expenses as services continue to evolve. With these services, our wallets should be getting a little heftier every day.
