By Nell Casey
WWR Article Summary (tl;dr) To get control of your spending habits, finance experts suggest a money management app like Mint to stay on top of your transactions and bank balances. Your spending is updated in real time, and you can instantly see how much money you have available with a quick glance at your phone.
Americans have a money management problem.
“Last year, 25 percent of Americans missed a credit card payment and paid more than $77 billion in penalties, ouch!” said Kimmie Greene, consumer finance expert for Mint. “That’s money that could otherwise have been used to pay off debts, save for the future or go on a dream vacation.”
Even if you’re not currently in credit card debt, you might be guilty of fiscal faux pas that could affect your finances for the long haul. Here are eight signs that you might have a money problem.
YOU WORRY YOUR CARD WILL BE DECLINED
If you’ve ever stood in line at the supermarket mentally subtracting the cost of the items in your cart from your bank balance, then you might just need a little help with your money. Worrying about being able to pay for essentials could indicate that you don’t have control over your finances.
“So, as people are looking for ways to take the work (and worry) out of staying on top of their money, paying bills on time is an important first step,” said Greene. “Doing so makes it a lot easier to stick to a budget and save for the future.”
Use a money management app like Mint to stay on top of your transactions and bank balances. Your spending is updated in real time, and you can instantly see how much money you have available with a quick glance at your phone.