During economically troubled times, it’s highly essential to be financially smart. According to economists, now is the perfect moment to start thinking creatively about saving and adding new income streams. This way, should the future become even more uncertain than it is now, you have strong financial defenses established.

Fortunately, when it comes to money management strategies, there are many that you can experiment with to determine what works best for you. However, you will find that many of these financially-sound tactics make use of digital technology that is accessible through your smartphone. That being said, if you’re looking to invest in a device to help you with the goal of being financially savvy, it definitely has to be a high-performing phone.

The best phones on the market that can handle the job flawlessly can be quite pricey. Therefore, consider refurbished iPhones, which you can get for a lower price but are just as high-quality as the latest models on the market. These phones have as big a memory as brand-new options do; you can download a variety of apps and save large files on them, such as lists and other records.

And when it comes to utilizing your smartphone to better manage your financial resources, here are some tried and tested tips.

1. Answer surveys

Suppose you are looking for a quick side hustle that you can operate through your phone. One highly recommended example is to answer surveys from legitimate survey sites such as MOBROG and Panel Place (both of which are internationally accessible). You can download their apps on your phone and be notified right away if there are survey opportunities for you.

The great thing about answering surveys is that you can do them during your free time, such as when you’re riding the bus to work or having your afternoon break coffee. They don’t take a long time to complete. Even the surveys that are low-income at first will still provide monetary value to those pockets of time during the day that you would normally spend idly.

2. Use a price comparison app

Comparing prices is one of the easy ways to slash the costs of your purchases. Typically, with this kind of app, you will find other vendors that offer the same products for a more attractive price. Not only that, the price comparison app usually offers discounts and deals to reduce the amount of money you spend buying things that you need.

Indeed, financially savvy folks rarely pay full price for anything. So invest in this app (although you can download some of these for free) to bring down the cost of shopping.

3. Budget with the help of PocketGuard

PocketGuard is an app that you can download to your phone if you want to stick to your budget better. It helps you break down your budget and stay on top of payments. At the same time, it also analyzes your spending habits, so you can assess your transactions regularly to see which areas of your budget you can be better at.



4. Utilize your phone’s organizer or calendar

Another way to stay on top of payments is to use your phone’s built-in organizer or calendar where you can save important dates and payment information. You can use the reminder features, which include alarms and notifications. A lot of folks say that the reminders, which most people like to set a week before the actual date for payments, enable them to set aside the money needed and even pay early to avoid penalty fees.

Additionally, the reminder from the phone’s calendar or organizer prompts a lot of people to hustle harder if their resources are still low. Overall, being aware of crucial dates is helpful in modifying behavior and activities to work toward financial goals. You will find, though, that organizing your financial accountabilities on your phone can use up a lot of storage space, which is why it truly is crucial to have a high-performing smartphone.

5. Listen to Spotify

Spotify is mostly known for being a music-sharing platform, but it also holds a library of podcasts and audiobooks which cover financial matters. When you need some inspiration or advice on your finances, tune in to Spotify’s financial podcasts and you will surely find media files that can help you. You have financial coaches discussing everything from budgeting, to saving more money, to paying off student loans, to investing.

6. Sell with Chegg

Chegg is another phone app worth downloading if you want to earn extra money. You can sell old college books and other useful materials on Chegg. The fantastic thing about this app is that it allows you to price your items competitively. This app is worth using to turn something that may already be of no value to you into hard cash to help you stay on top of your financial accountabilities.

7. Invest through Acorns

Personal financial coaches highly recommend the Acorns phone app. What it does is it takes your credit card transactions to the highest total and directs the spare change toward a low-cost investment. This app is only available in the US, but you can now find similar apps that do the same thing in other parts of the world.

Keep an eye out for micro-investment apps. As small as your investments may be, they can generate interest over time and provide you with financial flexibility, which is vital during these economically turbulent times.

8. Create a list of places to get the best deals

Use the notepad of your smartphone to save all the names of places or vendors where you know you can get excellent deals. This is one of the most basic things you can do to trim your expenses and boost your savings. Likewise, this can help you shop more strategically, especially if you wish to take advantage of free shipping programs for online purchases.

Keeping track of the top places for promos, discounts, and other deals, such as women’s designer outlet stores online, can help you maintain a comfortable standard of living in an affordable way.

Becoming money-smart and creating a financially comfortable status is not always easy. The tips rounded up here regarding money management strategies you can perform on your phone can be a great help in securing your future.

AUTHOR BIO

Mirza Saqib Habib is the Business Manager at Dubai-based Teckzu, the perfect one-stop shop to discover, browse, and buy new and refurbished electronics such as smartphones, tablets, laptops and accessories. Mirza comes from a strong E-commerce background with over 6 years of regional experience. He has helped kick-start many startups in the past and is passionate about using technology to facilitate a seamless digital user experience.