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Do Your Apps Know More About Your Money Than You?

With the onset of evolving mobile technology and advanced artificial intelligence, our devices have become mini financial coaches. Here’s how!
Do Your Apps Know More About Your Money Than You?
Did you know that the apps on your phone may know more about your money than you? We may not all be techies, but on National Techies Day, it’s essential that we be as technologically equipped as possible, especially with our finances.
In this article

Personal finance apps are revolutionizing how we use our money. Automated banking, easy payment options, smart app tips and Cash Now Pay Later by Beem are changing the landscape of money in America. Where does that place you with your finances? We explore exactly that question of phone apps and money this National Techies Day.

Back when we first got phones in our hands years ago, they didn’t really do much to impress other than be fancy phone. That, however, has changed today. Over 80% of Americans own smartphones now. And smartphones are not just phones. They’re practically supercomputers in our hands.

Tech Tapes

With the onset of rapidly evolving mobile technology and the accessibility to information and advanced artificial intelligence, our devices have become mini financial coaches – all available at the touch of our screens.

Phone apps are becoming more evolved and sophisticated – to the point that they’re able to give financial advice and tell us how to handle our money.

Apps, including Beem, are now able to help you predict and guide your saving and spending habits. They can even tell you where and how to invest and help you avoid making bad financial decisions.

The Tech Revolution

Apps even know how you’ll spend your money before you do. In a few years, technology may be making the choices for you, based on your preferences and history. This could free Americans from getting handy about their money which can become a boon or a bane, depending on how you see it.

The possibilities are endless with this kind of digital technology. In fact, looking at how technology is evolving. This could just be the beginning.

From a financial perspective, most apps that deal with personal finance have been developed around creating and monitoring budgets, tracking spending and setting up savings plans. In fact, more than two-thirds of the country is now using one form of digital banking or the other to manage their money.

The Future of Personal Finance

Fintech organizations like Beem are already working on the next level of financial development. From redesigning algorithms to building next-generation services, the amount of technological advancement is immense. Soon you can fully automate your daily financial decisions and make the entire process seamless and off your mind. This is particularly helpful for those who have a hard time working with numbers or a budget.

Financial apps are trying to make money matters incredibly comfortable for us. Apart from this, there are virtual assistants that offer smart alerts and notifications when your spending is over the limit. Beem already keeps tabs on your subscriptions and provides smart saving tips as well as helps monitor spending.

Drawing the Line

Financial apps also study financial accounts, including bank and credit cards, to help you spend smarter and save money at the same time. That’s how Beem helps you Save, Spend, Plan and Protect your money better.

When you’re someone who’s living paycheck to paycheck and just managing to make ends meet, a personal finance app like Beem really comes in handy. Beem helps you manage grocery shopping, pay bills, clear dues, settle debts and even get Cash Now Pay Later for a rainy day.

Thousands of workers who are Uber drivers, baristas, gig workers, delivery workers and working professionals are using Beem to live life uninterrupted.

Looking ahead

Soon, financial technology will become so advanced that money will move behind the scenes without even you knowing it. This is nothing to worry about since we’re talking about automated payments or automatically transferring money into a savings account or auto-applying discounts at your favorite shops.

The hands-off experience is looking quite like the inevitable future. Are you ready?

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Author

Picture of Allan Moses

Allan Moses

An editor and wordsmith by day, a singer and musician by night, Allan loves putting the fine in finesse with content curation. When he's not making dad jokes or having fun with puns, he's constantly looking to tell stories out of everything.

Editor

This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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