One of the best personal finance tools is something you already have. You might not think that your cell phone is an essential tool for saving money, but you can find deals, get cashback, track your spending habits, and make savvy purchases no matter where you are. Now that's putting the smart in smartphone.
1) Get Cashback Using Apps
Many apps give cashback on your everyday purchases. Check out apps like Ibbota, Swagbucks and Rakuten. There are no promotional codes or coupons to keep track of. You'll earn cash back for your purchases by starting your shopping through the app or uploading an in-store receipt.
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2) Reducing Wasteful Spending
By tracking what you're spending money on, you can gain insight into where your money is going and how much of it's being wasted. With a bit of effort, most people find that they can easily save hundreds, if not thousands, by simply making minor changes to their daily routines or shopping habits. Budgeting apps like Cleo connect to your existing bank and show you where your money is being spent.
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3) Get the Lowest Price
The great thing about your smartphone is that it is always with you, meaning whenever you are out shopping, you can use it to make sure you are getting the best prices. Apps like eBay even have a built-in barcode scanner to quickly check in-store prices vs. buying online, saving your money. You can also use any prices you find to show the retailer to encourage them to price match on the spot.
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4) Save on Gas
Price comparisons don't stop at stores. Use it for gas too! By using your phone to comparison shop for the best gas prices in your area, you can save a good amount of money over a year. It's quick and easy, which will allow you to locate the cheapest stations without spending too much of your precious time.
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5) Increase Savings with Spare Change
Creating a savings habit can be challenging, but it doesn't have to be. With a smartphone, budgeting and saving money can become second nature. Many Apps will round up your spare change every time you shop, automatically rounding your purchases up and placing the difference in a savings account.
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6) Save Money on Foreign Transactions
Yes, you can use your smartphone to save money on foreign transactions with apps like Revolut. Revolut allows you to spend and send money abroad with no hidden fees. If you are a regular traveler, this could save a good amount of money a year.
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7) Save Money on File Storage
With apps like dropbox, save all of your data in cloud storage for a fraction of the price of a traditional hard drive. It also means you will never turn up to work or school having forgotten your files as you can access them from your smartphone.
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8) Prevent Costly Financial Scams
If you don't monitor your credit score regularly, you can't stop issues before they become a financial headache. Apps like LifeLock, Mint or WalletHub, allow users to keep track of their credit scores and watch for suspicious activity.
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9) Save Money on Insurance
These days, you can easily compare health care plans, car insurance quotes right from your phone! In addition, insurance companies will send out reminder texts that alert customers when renewal dates are coming up, which means that you won't have to worry about missing costly deadlines.
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10) Free Tracking Devices
Apps Life360 and SafeTrek can give a great deal of peace of mind, especially when it comes to newly independent tweens and teens. In addition, you'll love the sense of security provided by these free apps, which allow users to track people's location or monitor the speed they travel.
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11) Save on Money On Takeout
Don't waste your money on overpriced takeout. With the help of your smartphone, you can instantly see reviews and prices so that you can prevent a large bill for small plates. Use Apps like UberEats to compare prices and get takeout that won't leave you both hungry and disappointed.
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12) Reduce Your Grocery Bill
All smartphones have a handy notes section that can be used as a grocery list, so you don't buy things you don't need. If you're struggling for time, you can also use your smartphone to take a picture of your pantry and fridge, so you don't buy too many perishable foods that end up in a trash can in one week.
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13) Save Money on International Calls
There are various free video chat apps that allow people to communicate without worrying about costly international rates. YYou'lllove being able to catch up with family and friends without cutting conversations short to save on costs. So whether you're at home or on vacation, keep in touch with WhatsApp, Facetime, Google Voice, or others.
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14) Save Money on Airline Tickets
Air travel is expensive, especially long international flights. Hopper and Skyscanner are just two apps available to find the best deals on flights. So if you think that a family trip to Hawaii is out of your budget, start using these apps to score cheap flights!
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15) Don't Lose Your Cash
The less cash you take out of the house, the less likely you'll lose it. Use apps like Google Pay or Apple Pay right on your phone! For quick trips, you can leave your money, wallet, or purse at home.
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16) Find Free or Inexpensive Activities
Use your smartphone to download apps like Groupon to save money on days out in your hometown or when traveling. Whether you need tickets to a sporting event, a trip to the spa, or tickets to see your favorite band, there are hundreds of deals to be found.
If you're looking for outdoor activities, try America's Park Network's Oh Ranger app. You'll find local, regional or national parks in one place, many of which are free of charge to visit.
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17) No Expensive Camera Needed
Professional-grade cameras can be thousands of dollars, not to mention heavy and bulky. But, with a high-quality camera built right into newer models of cell phones and free photo editing apps, you'll save money and get beautiful pictures.
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18) Reduce Impulse Spending
Online shopping has become so easy. With the click of one button, you can purchase almost anything you'd like, leading to a lot of impulse shopping. However, by connecting your bank account with your smartphone, you can see exactly how much you spend. Digital banks and personal finance apps help you build better money habits and provide free tools like a daily budget for impulse purchases.
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19) Reduce Car-Related Costs
In-car GPS navigation systems are convenient, but it's another recurring charge. If you're looking to find money in your budget, you can use free apps like Google Maps, Apple Maps, or Waze to get where you need to go.
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20) Workout for Free
Did you know that you can work out with your smartphone? There are over 200,000 exercise app, and many of them are free! From classes to coaching for 5k runs, there's no need to pay for a gym membership.
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21) Ditch Your Landline Phone
With landline phone plans starting at $25 a month, you can save at least $300 a year using only your cell phone. However, with 911 services updates for cell calls and improved internet-based calls, it's time to ditch your costly landline phone service.
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22) Save on Books and Magazine Costs
Save the cost of books by using your smartphone as an e-book reader. Use a free app to read books and magazines from your local library, or access 2,500 books and magazines for free with your Amazon Prime membership.
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23. Stop Paying to Stream Music
If you're looking to really reduce your spending, downgrade all your streaming memberships to the free plans. While they won't have as many features, your saving account will grow, and perhaps you'll learn that you don't miss the premium features.
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24) TV Subscriptions
Did you know that the average cable tv package is $217.42 a month? Pay down debt, college loans, or build an emergency fund with this one change that saves you $2,600 a year! Watch movies and television shows for free online without having a cable or satellite subscription. Or split a Netflix account with friends for budget-friendly binge-watching.
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25) Tour a City for Free
Stretch your vacation dollar with DIY walking tours via your phone. Whether you can't afford a tour or prefer to explore a city at your own pace, there are so many options available. Many cities provide them for free as part of their tourism efforts or look for free audio tours from large companies like Frommers.
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This article was produced and syndicated by Wealth of Geeks.
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