Menu #13: Harness the power of fintech to increase your financial success

STATS STACK 🥞

50% of people in the U.S. between the ages of 55 and 65, reported having no money saved for retirement. The survey further revealed that among this age group, 50% of women and 47% of men have no retirement savings (Source: Census Bureau).

$44.6 trillion was the record-breaking wealth amassed by the top 1% at the end of the fourth quarter, propelled by an end-of-year stock rally that boosted their portfolios, according to new data from the Federal Reserve.(Source: CNBC).

2.5% was the increase in the Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures price index, for the 12 months ending in February, surpassing January's 2.4% rise in prices. The rise in the annual inflation rate was primarily propelled by a 2.3% surge in energy prices last month. (Source: CNN).

DEEP DISH 🍕

Harness the power of fintech to increase your financial success

Isn't it amazing how managing your finances has become a breeze in this digital era? With all the cutting-edge tools and apps at our disposal, things like budgeting, investing, and even keeping an eye on our credit scores have become way less of a headache. So, let's jump into this exciting world of financial tech that's changing the game for how we handle our dough.

Budgeting apps: Imagine having a mini financial advisor right in your pocket, nudging you along every money move you make. Apps like YNAB (You Need a Budget), and PocketGuard are pretty much doing just that. They give you the lowdown on where your money's going, help you track your spending, and set goals that don't feel like a stretch. With user-friendly designs and features you can tweak to your liking, mastering your budget feels like a walk in the park. Check out a budgeting apps comparison.

Investment apps: Remember when investing seemed like a club for the rich and famous? Well, not anymore. Thanks to apps like Acorns and Betterment, you can start investing with just a few bucks. These apps make it super easy to get into the investing game with low fees, auto-managed portfolios, and plenty of resources to learn from. So, whether you're just starting out or you've been around the block, these apps are opening up the stock market to all of us. Check out a list of investment apps.

Debt management apps: If debt's been keeping you up at night, there's some good news. Apps like Qapital and Debt Payoff Planner are here to help you get back on your feet. They'll sort out your debts, whip up a repayment plan that fits your life, and track your journey to being debt-free. Features like auto-payments and calculators that show you the way out make tackling debt less daunting. Check out these debt management apps.

Credit monitoring apps: Keeping tabs on your credit score is super important, and thankfully, apps like Aura, Credit Karma, and Experian have got your back. They keep you in the loop with real-time updates, watch over your credit reports, and offer tips to boost your credit game. Knowing where you stand credit-wise helps you make smarter money moves and snag better deals on loans. Check out these credit monitoring apps.

Savings automation apps: If saving money feels like a chore, you'll love savings automation apps like Oportun, Qapital, and Chime. They've got this clever way of figuring out your spending habits and then sneakily tucking away a little money here and there into your savings. It's all about making saving so easy, you won't even notice it—until you see your savings account grow, that is. Check out these savings automation apps.

Personal finance aggregators: Juggling all your financial accounts can get pretty overwhelming, but apps like Empower and Clarity Money are here to declutter your financial life. They bring everything—your bank accounts, investments, credit cards, loans—under one roof. With all your financial info at your fingertips, you can track expenses, check out your investments, and even see your net worth at a glance.

With all these amazing fintech tools at our fingertips, managing our finances has never been simpler or more accessible. Whether you're trying to budget better, invest wisely, shed some debt, keep an eye on your credit, save without stress, or just get a clearer picture of your financial health, there's a tech solution out there for you. Jumping on board with these tools can seriously set you on a path to financial freedom. So, why not give them a whirl and see where they can take you?

SWEET LINKS 🍰
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