Managing Your Finances In This Electronic Age

Everywhere you look there is new technology to keep up with. At times it can be overwhelming but if you take a deep breath all this technology can also help you. Today I am going to discuss how I have been managing our finances in an electronic age.

When we were first married 35 years ago no one had a computer or a smart phone but our bank at the time made it possible for us to call in and pay our bills over the phone. We were on such a tight budget we gave it a try as the service was free and we were able to save on stamps! The only requirement was a touchstone phone!

Since then the technology has come a long way! I use Quicken to keep track of all our accounts online. Everything from the checkbook to our credit card accounts are listed and with a swipe of the mouse I know exactly how much money is in the bank or owed on a certain card.

I’m not as tech savvy as I could be however as I don’t have any of our accounts linked to our Quicken account. One of these days I’ll get there but for now I go online and can check out the various accounts such as our phone bill or electric bill by going to the various websites. Payments are made online whenever possible. I can even check out our investments online.

The smart phone has made it even easier than ever to keep track of your cash, send payments and even send cash to your friends if you owe them money. Venmo is just such an app. Venmo allows you to pay anyone instantly using money you have in Venmo or link a bank account or debit card. When we owe money to our children they can have it instantly without having to mail a check or transfer money from one bank account to another. Our kids use it all the time.

There are other online services if you want to keep track of your budget. Mint is a great service to help you to manage your cash flow, budgets and bills from one place.

Having a smart phone has also made it easier to deposit checks. No longer do you have to drive to the bank. Instead you can take a photo of your check and deposit it remotely. For those of us that live a distance from the bank this is a wonderful time saver.

No matter how you manage your money in this electronic age you want to keep track of it somehow whether it be on paper or online. Personal Capital is another way to help you keep track of all your accounts at once to make managing your net worth easier. You want to know where your money is going so you can keep an accurate budget and save for the future.

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