How to manage your money through your bank

Gone are the days of your visits to the bank to check on your credit balances. With banks consistently improving their client services and moving to easily accessible platforms such as the web and apps, there are more and more opportunities for you to self-organise your money with the services your bank provides. Here are some tips on how to manage your money through your bank.

Sign up for online banking:
Online banking is the new norm for money management within your bank accounts and has certainly made life easier for all of its users. Online banking is a viable option for anyone with a computer, laptop or phone and condenses all the information you need into one easily navigable web page.

You can access your bank account wherever and whenever you prefer, not to mention make payments, transfers and check for your cash movements within your accounts with a few quick button clicks.

Take note of automatic transfers:
With automation processes on the rise, your bank services can largely be automated as well. No longer do you need to personally visit a bank or go online to make a payment – for regular money transfers and payments between bank accounts (such as bills), you can automate them through your bank! Simply set up a time and frequency you’d like to make your transfers and your bank’s IT system will handle it all for you.

Make use of online and mobile budgeting tools:
Most banks nowadays also provide you with customised budgeting tools, detailing your expenditures, comparisons with your earnings, your patterns of cashflow and other personalised statistics for you.

All this accurate information can help you with your budgeting struggles, as you can easily set limitations on yourself based on your recorded spending habits and budget accordingly. You can even use third-party apps which securely link your bank accounts to their platform to track your monetary movement in even more detail.

Turn on your notifications:
A simple tip is to have notifications go off on your phone whenever money enters or leaving your bank accounts can be effective in helping you manage your money. Simply being reminded via consistent notifications on how much your daily coffee costs, that new subscription service you signed up for, or when your bills are paid can make a huge difference in how you manage your money.