There are plenty of tools to help you reach your financial needs and goals. Here are five tips to help you find the best tools for you.
Modern apps and online tools have changed the way we manage money. Today, there's no shortage of options for everything from managing a budget to building your nest egg. Some tools take a comprehensive approach, handling a range of financial needs in a single platform.
With hundreds of tools promising to improve your financial life, choosing the right ones can feel overwhelming. This guide offers practical tips for choosing the tools that align with your financial needs and goals.
1. Let a budget app help with the heavy lifting
Even the most diligent savers may have a hard time managing their expenses, income, and recurring bills. Budgeting apps make it easier for you to focus on the big-picture strategy behind managing your money. Whether you're using a third-party app or looking for a bank with robust built-in tools, having tech that can help you manage your finances is a must.
Mobile platforms make it easier to keep an eye on your expenses and income from anywhere. Rather than having to sit down and track your spending on a desktop or laptop, you can keep an eye on your balance, when your paycheck hits, and when your funds are low—all in one place.
Some banks offer these tools right inside their mobile banking interface, such as PNC Virtual Wallet®.
2. Look for tools to help you avoid overdraft fees
Overdrafts are frustrating. Worse yet, they can add up quickly depending on your bank's policies. You may find yourself paying several overdraft fees in a single day if, for example, you overdraft on a day when several bill payments come out of your account.
Avoiding overdrafts and other common bank fees should be a top priority for anyone who wants to stay savvy with their cash. Certain digital tools can help warn you when you have a low balance. For example, Low Cash Mode®, available for the Spend account of a PNC Virtual Wallet, gives you more control when your balance is low.
3. Take advantage of auto-pay and calendar reminders
Speaking of bills, it's often hard to keep track of who gets paid what. Whether that means utilities, rent, credit cards, or even streaming services, we all have our fair share of expenses.
If you're like most people, you probably use online bill pay. Not all bill pay services are the same, however. It's essential that you find a way to pay bills online that also come with other essential features, such as scheduling and reminders. This helps you stay on top of what comes out when—and that each bill gets paid on time.
When you open a bank account that can automatically pay recurring bills, you're making it easier to keep track of your finances—plus you're not relying on calendars and scheduled reminders to tell you when a bill is due.
4. Track your progress with goal-based banking tools
Savings accounts were once the only way for savers to track their progress toward certain saving goals. Now you can take advantage of tools that help you reach financial targets.
Look for apps and platforms that help you set up savings goals. Better still, you can opt to bank with a financial institution that provides goal-based tools. When you're ready to save—be it for life goals or life's pleasures—you should consider a bank that can grow with your evolving needs.
5. Streamline your finances with all-in-one tools
Individual financial tools are helpful on their own, but combining them under one roof is the best way to help keep track of your daily finances and future goals. When you roll these features into one comprehensive banking platform, you can make the most of your efforts while keeping organized. Plus, you make it much easier to view and navigate your full finances.
PNC Virtual Wallet® puts each of these must-have tools into one helpful banking experience to make managing your finances easy. You can track your earning and spending, make saving easier, pay bills, and keep yourself on track when your account gets low.
Tools to help you make the most of your finances
Whether you want more automation, budgeting tools, or increased communication with your bank, there are several tools out there to help you build the financial strategy you want. The best way to make the most of each tool is by finding a bank that consolidates them.
That's why PNC Virtual Wallet® can help you reach your financial goals by monitoring your spending, help you avoid overdrafts, and build savings at the same time. Visit the Virtual Wallet® homepage to learn more about how PNC Virtual Wallet® can help you get closer to your financial aspirations.
