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Make sure you set yourself up for success to reach your goals in 2024. Mobile apps can make it easier and more fun. Find out how.
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Now that a brand new year is ahead, you may be working hard to meet big financial goals. As you take steps to reach your goals, don’t neglect technology that can help you be more successful. Mobile apps can help you save time, feel more motivated, and stay on track. Here are a few ways to use mobile apps to reach your 2024 financial goals.
1. Track your progress
The Motley Fool Ascent’s 2023 Financial New Year’s Resolutions survey discovered that the most common financial resolution for 2024 was to pay off debt. Tracking your progress can help you stay motivated while tackling debt this year. If you’re tech-savvy, you may want to consider using one of the best debt payoff apps to track your progress. Apps like this can make it easier to visualize how much closer you are to achieving your debt payoff goal.
2. Put your savings strategy on autopilot
If you have lofty savings goals for 2024 but are worried about being forgetful, you may want to automate the savings process. You can use your bank’s mobile app to set up automatic transfers so money is regularly transferred from your checking account to your savings account.
Doing this can save time and ensure you don’t fall behind on your contributions. Putting my savings strategy on autopilot has been a game-changer for my high-yield savings account balance. I feel more confident knowing I’m on target even when life gets busy.
3. Get credit card spending alerts to avoid overspending
If you use credit cards, the apps provided by your credit card issuers can also help you stay on track with your financial goals in 2024. If you’re working hard to reduce your spending, you can set up account alerts to hold yourself accountable.
For example, you can enable spending alerts to receive an alert when your monthly spending reaches a specific spending limit that you set. Free alerts like this can help you avoid overspending beyond your means so you don’t rack up expensive credit card debt.
4. Monitor (and learn how to change) your spending habits
For many people, overspending is an issue that keeps them from reaching their financial goals sooner. But learning more about and then altering your spending habits can do wonders and free up more money for your goals. Using one of the best budgeting apps can make it easier to see where your money is going so you can make positive changes.
5. Avoid missed or late credit card payments
If one of your goals is to boost your credit score in 2024, you’ll want to do what you can to avoid late payments. Forgetting to pay a bill can cause stress and could impact your credit score. Your payment history makes up 35% of your FICO® Score.
But there’s another reason you should pay all your bills on time, especially credit card bills: late fees. Most credit card issuers charge credit card late fees if you don’t pay your bill on time. Any unnecessary fee you pay like this impacts your bank account balance.
You can use your credit card issuer’s mobile app to stay on top of your bills. You can set up payment reminder alerts to receive an email notification of an upcoming bill due date. This way, you don’t miss a payment or accidentally pay your bill late.
Use technology for greater success
Mobile apps like the ones mentioned above can make your life easier. They can also give you greater control over your finances so you can reach your goals sooner. Check out our personal finance resources for additional tips as you navigate your 2024 financial goals.
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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Target. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.
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