investing

Call on smartphone for financial planning

As for popular appeal, John Abell, New York bureau chief for Wired.com, a technology news site, says the free Mint.com app seems to be setting the pace.

"Mint is the 800-pound gorilla in the space," says Abell. "A lot of apps are tied to your bank or broker and limit the ability to bring in the whole household. A bank or broker may not tell you your spouse's IRA value."

Ashley Schwartau, who has her own graphic design and video editing business, gives the Mint app a ringing endorsement. The Nashville, Tenn., resident travels frequently and has three bank accounts, three credit cards and car payments. She can use her smart phone app to perform personal financial functions, such as categorizing which business expenses are deductible.

"I'm terrible with money. So I like that I can check in wherever I am and see what my cash flow is for the week," Schwartau says.

Schwartau is particularly diligent about examining her credit card accounts frequently. "Someone got my credit card number a couple of years ago, so I'm paranoid about that," she says.

For trading securities, Nainan uses a smart phone app that doesn't require logging in, allowing him faster access to his information. The app provides real-time price quotes, unlike many websites that have 10- to 20-minute delays.

The next new things

As for the future, banks are testing technology to allow consumers to use their phone as a debit or credit card at retailers. But the next big wave for smart phones is the smart app, says Bradlow.

"People will want not just information and trading devices, but things like purchase recommendations from an app that knows my budget and discounts for users in coordination with retailers they use," he says. "You can personalize without giving up privacy."

News alert Create a news alert for "investing"

advertisement

          Connect with us
advertisement
CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

CDs and Investment

How should my teen invest $150K?

Dear Dr. Don, My son will turn 18 years old in December. He has $150,000 from a settlement now sitting in the bank. What is the best plan to pursue for investing this money? Is investing in precious metals a good way to... Read more

advertisement

Blog

Dr Don Taylor

Earnings season, investing and you

Should individual investors try to anticipate financial results in an earnings report?  ... Read more

Partner Center
advertisement

Connect with us