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Financial spring cleaning: Auditing your finance apps

30/03/2022

Creditfix > Blog > Creditfix Debt Help Blog > Financial spring cleaning: Auditing your finance apps

 

In a world where you can control almost every aspect of your life from the palm of your hand, finance apps have become an increasingly popular choice for today’s financially conscious consumer. They can help you track your spending, pay your bills, and manage your money for better budgeting.

If your smartphone has been taken over by finance apps that you haven’t so much as taken a second glance at since you downloaded them, however, it may be time to purge your home screen and treat your finances to a much-needed spring clean.

This can be a notoriously long and laborious process, but it can also help you gain a better understanding of your spending habits and adjust your financial goals. To regain control of your finances through your smartphone, less is always more.

In this article, which is the latest in our Financial Spring Cleaning series, we’ve compiled a list of tips and tricks to guide you through the process of auditing your finance apps.

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Review your financial goals          

If you rely on different finance apps to help you save money, set budgets, and transfer funds, it can be easy to get overwhelmed. By reviewing your financial goals, you can determine which finance apps are worthy of a place on your home screen and which are unlikely to help you reach your personal monetary milestones.

This can free up valuable storage space on your smartphone and allow you to start focusing on your long-term goals as you navigate your financial future.

Rank in order of usage

If you are struggling to know which finance apps to get rid of and which to hold on to, ranking them in order of usage can help you make a decision.

The cryptocurrency investment app you downloaded because its flashy online advertising strategy sucked you in might look great sitting pretty on your home screen but unless you have plans to start trading or selling digital coins any time soon, it could probably be replaced by something a little more useful.

The daily budgeting app you rely on to plan your weekly shop, on the other hand, should take pride of place on the first page of your home screen for greater ease of access. This also includes any savings apps you contribute to on a regular basis or online banking apps you use to monitor your daily spending.

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Use folders

If your home screen has seen better days, folders can be a great way to streamline your apps and reorganise your life. This can help you gain a better understanding of your personal finances at a glance and wave goodbye to endless swiping just to be able to pay for your morning coffee.

This can also allow you to categorise your finance apps by purpose with different apps available for spending, saving, budgeting, tracking, and investing depending on what your long-term goals are.

With your finance apps grouped into clearly labelled and easy-to-find folders, you can cut through the clutter and find exactly what you are looking for in a matter of seconds.

Check for updates

In the financial sector, trends can come and go in the blink of an eye and information can become obsolete quicker than you can even say the word money.

By checking for updates, you can be confident that the information you are consuming is still relevant and accurate and find out whether your personal finances will be impacted by any industry-wide changes set to take place.

You must also ensure any personal information you have linked to your finance apps, such as your home address, annual salary, and bank details, is still correct.

Schedule regular reviews

If you have struggled with money problems in the past but have since regained full financial health, it may be time to delete any debt management apps that no longer serve you.

If you are worried you may be falling deeper into debt, replacing investment apps with money management apps can allow you to focus on improving your finances.

By scheduling regular reviews, you can align your apps with your financial goals as they fluctuate from time to time.

This can also be a great opportunity to delete shopping apps or disable notifications if they are a particular spending trigger for you.

Install a password manager

If turning your house upside down in search of a password scribbled on a sticky note is a process you have become all too familiar with, a password manager may be the answer to your prayers. This is, essentially, a computer program that generates, stores, and manages unique passwords for your online accounts on your behalf for greater safety, security, and peace of mind.

With a growing number of cloud-based password managers also beginning to emerge, your finance apps can be treated to the utmost protection and encryption. This can protect you from the effects of password fatigue and prevent your finance apps from being peeked at by prying eyes.

Where can I get more advice on Financial spring cleaning: Auditing your finance apps and other debt solutions?

To discuss your options and get the support you need to deal with your debt today, contact us now on 0800 0431 431 or click the button to get started

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