Your cell phone can provide entertainment when you’re bored, help you manage a busy schedule and so much more. But if you’re looking to get a better grip on your personal finances, your cell phone can also unlock some neat tricks to help you save money.
So if building your bank account is one of your resolutions for the new year, read on to learn how your cell phone can increase your cash reserve.
1. Download the Groupon app and save.
Downloading the Groupon app is an excellent way to save money on just about everything from entertainment to food. Once on your phone, the app can send alerts for nearby deals based on your GPS location. If you’re interested in a particular deal, simply purchase the Groupon from your cell phone and an e-voucher is available for redemption within minutes.
2. Subscribe to receive retail and restaurant promotional offers.
If you enjoy saving money, you’ve probably signed up to receive promotional emails from your favorite retail stores and restaurants. One of the best features of a cell phone is that you can access your email from the phone. So if you’re out shopping or dining out with friends, you don’t need your home computer to print a coupon or promotional offer you receive. Open your email from your phone, pull up the offer and the cashier will scan the coupon code at checkout.
3. Use your GPS to find the nearest location of your bank.
Think of the number of times you needed cash from the ATM. If you weren’t familiar with an area, you might have pulled into any random ATM and paid bank fees to get cash. We’ve all been here.
Unfortunately, ATM fees add up quickly. So the more you can avoid these fees, the better. With GPS on your phone, finding the nearest location of your bank has never been easier. You can get turn-by-turn directions in seconds, allowing you to withdraw cash without paying a fee.
3. Avoid toll roads.
A cell phone also eliminates the need for a separate GPS or navigational device in your car. When you use your cell phone’s GPS, there’s an option to choose routes without tolls. This comes in handy when driving in a metropolitan area with tolls around every corner. There could be a route to your destination that’s only one or two minutes longer, yet doesn’t involve a toll.
4. Comparison shop and save money.
Even if you know the benefits of comparison shopping, driving from one retail store to another is tedious and time consuming. With a cell phone, however, comparison shopping has never been easier or quicker.
Just a few taps on your screen and you can compare prices on Amazon, eBay and other sites—without ever leaving your home. And once you find what you’re looking for, purchase online and the item ships directly to your house. A cell phone also lets you search online for “free shipping” coupon codes. It’s a win-win. You can get your item for less and avoid shipping fees.
5. Pay your bills online.
In a perfect world, you would always remember to mail a bill days before its due. But sometimes, you get busy and forget until the last minute. This happens to everyone. However, downloading your utility company or credit card company’s app can ensure you never get hit with a late fee. With financial apps on your phone, you can make a payment no matter your location. As long as you submit the payment on your due date before the company’s cutoff time, you won’t have to worry about a late fee.
You can also set up automatic payments easily on your phone, either through the individual utility apps or directly in your banking app.
Cell phones aren’t only useful for making a phone call or killing time. Your phone can also help you save money in different areas of your life. The trick is understanding what your phone is capable of and then taking full advantage of these features.