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4 Fintech Gadgets to Help You Manage Your Money

Provided by TechGirl Financial

Despite the uncertainties of these past few months, it’s important to understand that 2020 is actually a good time to put the extra effort into managing your finances. Not just because of the tighter budget we have to work with, but because of all the opportunities available. Indeed, in the financial to-do list we published earlier this year, we mentioned how it’s a good time to invest, for instance, or even to reallocate your assets. 

Plus, financial advisor Miriam Caldwell emphasizes that if you have any financial objectives (personal savings, investment goals, etc.) that you want to achieve in the coming months, then tracking your expenses now is only going to help. From smart technology to wrist shockers, here are four notable fintech innovations to look into for any woman looking to manage her finances.

Amazon Echo

Alexa can provide you with a lot of useful financing information, if you know what to ask. For example, you can inquire about your bank accounts’ details (for participating banks only like Capital One and American Express). You only have to recite a personal key for security purposes. If you say “Alexa, open Bank Helper,” she’ll even provide you with the current bank rates and recommend actions. Plus, Alexa can be used to pay your household expenses, from insurance to electricity bills.

Pavlock

If you need a physical reminder that you’re spending a little too much—then Pavlock might prove to be your saving grace. Created in 2014, this wristband is a device that can give you an electric zap whenever you’re about to do something bad… like going over budget. It contains a snap circuit, which can deliver up to 340V of electric current. It can go as low as 150V, however, for those who only want to experience an uncomfortable tingle. If you’re honest about the timing of your zaps, it should train you to stop overspending in a couple of weeks.  

Apple Watch

An Apple Watch can do more than just count your steps. It can be installed with other useful apps, too, like fintech software. Mint, for example, is a free personal finance app that lets you keep track of all your accounts, expenses, investments, and your monthly saving goals. There are several others like iBank, MoneyWiz, and Unspent. Technology has evolved to a point where manufacturers can minimize PCB thickness, packing its features into a small multi-layer HDI device without compromising on any of a smartwatch’s functions. Since it’s already on your wrist, an Apple Watch is much more convenient to use when you’re out and about. 

Samsung Family Hub Smart Refrigerator

People spend a lot on food, and the sad thing is that we don’t eat everything we buy. In fact, a study from Pennsylvania State University notes that the average household has nearly $2000 in extra food costs because of this. Fortunately, food is one expenditure that we can control, and that’s by only buying perishables that are missing from your fridge. Every time you see a missing ingredient, input it in the Samsung’s Smart Refrigerator grocery list (it contains the item’s price too, to help you budget). Stick to that list when you visit the supermarket. Eventually, the Refrigerator even learns about your eating and spending habits, so it can make more personalized suggestions later on.

Managing your money is no easy task, but the experience can be better with the right gadgets. Whether you need to curb your bad spending habits or simply keep better track of your expenses, know that fintech is always there to help.

Registered Representative of and securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment advisory services offered through Cambridge Investment Research Advisors Inc., a Registered Investment Advisor. TechGirl Financial™ and Cambridge Investment Research, Inc., are not affiliated companies.

fintech, technology, women in technology

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Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisors Services through Cambridge Investment Research Advisors, a Registered Investment Advisor.

Tech Girl Financial is not affiliated with Cambridge. Check the background of this investment professional on FINRA's BrokerCheck.
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