Can apps help people save money?

Can apps help people save money?

Can apps help people save money?

These days, millions of Americans may be constantly on the lookout for ways in which they can save a little bit of money and potentially improve their personal financial situations. Fortunately, there are a number of apps which could help them in that pursuit of an extra few dollars for their bottom lines, and that money could then go toward increasing savings or cutting debt.

As the famous slogan goes, "There's an app for that," and this is certainly the case for cost-conscious consumers who want to make sure they're saving as much as possible in their everyday lives, according to a report from the financial news and advice site The Street. For instance, an app people can use at the grocery store call Favado allows people to use their smartphone's camera to scan the UPC codes of items they want to buy. The app then finds any online coupons that might exist for that product. The traditional type of couponing, and even searching for them manually online, can be a bit of a hassle and take a lot of time, but an app like this could end up saving both time and a lot of money going forward.

What else can be done?
Meanwhile, there's also an app for those who travel regularly called Hopper, which helps people find the best possible prices for their airfare, as well as other tips and tricks that could help them to cut their costs going forward, the report said. Because travel is often such an expensive venture, even saving 5 percent or 10 percent on the cost of an airline ticket for one person – let alone an entire family – can be a huge boon for those looking to improve their financial security.

However, it's also important to note that if people are concerned about the rising costs for various aspects of their financial lives, they might want to keep in mind that they may need to make sure they're also taking the right steps with that money once they've freed it up. Those who are struggling with significant debt might want to focus on paying down the balances that carry the biggest interest rates first and foremost, then move on to the next one, and so on. That kind of smart money management can go a long way toward guaranteeing future financial success.