How Your Cell Phone Can Act As Your Personal Finance Hub

Key takeaways

• Online banking and investing apps have revolutionized how we interact with our money
• Adding online banking and investment apps to your smartphone allows you to manage your finances anywhere
• With financial apps in your pocket, you don’t want to wait until you’re at the computer to transfer funds or make an investment

Did you know the little computer in your pocket is many times more powerful than the computers used to land humans on the moon during the Apollo program? Smartphones are a technological marvel. While most people know that these mini supercomputers are connected to countless online services, from shopping to travel reservations, it’s never a bad time to refresh your knowledge on managing your money online.

Here’s a closer look at what you can do with your phone to improve and manage your finances, whether sitting on the couch, on a train to the office or anywhere else with a good connection.

If you want to start investing with your phone, check out Q.ai. This innovative app uses artificial intelligence and cutting-edge strategies to help investors reach their goals. Download Q.ai here to get started.

Online banking

For most people, a checking account acts as a financial clearing house where all funds go in and out. Direct deposit from work is a popular way to add funds to an account, as you don’t have to worry about a paper paycheck. You can also set up automatic paying from your checking account so you never forget to pay a bill by the due date.

But if you wind up with a check, most banks allow you to deposit funds using your phone’s camera. Outside of depositing or withdrawing cash, you can do just about anything you need for your bank accounts using online banking.

You can transfer funds between your checking and savings accounts with a few taps on your phone. Depending on your bank, you may also be able to send and receive funds from connected accounts at other banks.

While your 401(k) or other employer-sponsored retirement funds may be deducted from your paycheck automatically before it hits your bank account, don’t forget to set up connecting to other investment platforms. Doing so lets you quickly move funds between your banking and investment accounts. You’ll usually be able to send funds for free, sometimes with next-day availability.

Investments

While bank accounts are good for keeping your cash safe, it’s unlikely to grow very much earning only bank account interest rates. Fortunately, investment companies also offer robust apps enabling you to funnel funds into nearly any investment you choose.

For example, once a user links a bank account in the Q.ai app, it’s easy to move funds between your bank account and investment account with just a few taps on your phone screen. Once funds arrive in your Q.ai investment account, you can invest with the assistance of artificial intelligence. Learn how Q.ai Investment Kits work and how they may fit into your investment plans here.

When logged into your account, you can view balances, performance and research your next investment. For example, depending on your investment goals, you may like the Value Vault Kit, Active Indexer Kit, or Clean Tech Kit.

Budgeting

It’s nearly impossible to build wealth and a strong financial footing without understanding where your money comes from and where it goes. That’s where budgeting apps come in. While your grandparents may have budgeted using a notebook, pencil and calculator, smartphones also offer a big improvement here.

Today’s best budgeting apps connect to your bank, credit, and loan accounts and automatically download new transactions. Each transaction is categorized into your specified budget categories. Opening the app gives you an instant snapshot of your monthly spending and current budget status.

Some people think of a budget as something that restricts their spending, but that’s far from the truth. In reality, a budget works as a spending roadmap. Knowing what you’ll spend on things like rent or mortgage, groceries and utilities, you can confidently choose exactly how much you want to spend from leftover funds for fun spending and adding to your investment accounts.

Budgeting apps are often free and ad-supported, while others require a subscription fee. If it can help you turn around a difficult financial situation or break the paycheck-to-paycheck cycle, a budgeting app can prove extremely valuable for your finances.

The bottom line

Banking, budgeting and investing are all core aspects of personal finance. With modern smartphone apps, you can spend less time dealing with these tasks while getting better information and results. That’s a huge win for your money.

If you’re looking to take your investments to the next level, consider Q.ai. With AI-assisted Investment Kits targeting many popular investment strategies, there’s a good chance the Q.ai app can help you reach your investment goals. Whatever your strategy, it’s critical for modern investors to have mobile access. You never know when you’re going to want to hit that buy button.

Download Q.ai today for access to AI-powered investment strategies.