Leverage Mintyn Digital Bank for Smart Financial Management

A good financial future isn’t about how much money you make but how you manage and plan. Good financial management makes life easier as it ends up adding more funds to your accounts and reducing your debts.

Money management is the process of keeping records and planning how you spend your money. It entails budgeting, saving, and investing.

Most often, one could be faced with a decision to spend on a large purchase. You don’t just conclude that you can afford something. Be sure that you can actually purchase that equipment and still have cash left. Also, ensure that those funds you are about to use have not been committed to an important expense.

This involves using your budget and the balance in your checking and savings accounts to decide whether you can go on with a purchase. Always have at the back of your mind that the fact that the money is there doesn’t mean you can make the purchase. You have to put into consideration the bills and expenses you’ll have to pay before your next payday.

Keeping your money in banks easily allows you to save and spend. Most often people see their savings accounts as nothing but just a place where they can store their hard-earned money.

So many Digital banks have added quite a lot of built-in tools that can help clients manage their money better and have more of it in their accounts with BANK WITH MINT BEING NO EXCEPTION.

Mintyn is a digital bank that has made money management more accessible and fun by just using your smartphone to keep record of your spending.

Having an account with Mint, you can do so much more with your money and manage your money properly. Here are ways you can manage your money.

Mintyn\’s App Features for Easy Financial Management

1. Use the Scheduler

There are bills we pay regularly such as internet and TV subscriptions, water bill, energy bill, and so many others. Knowing the exact date when these bills should be paid, you can schedule payments from your mint account. You can decide if you would want us to send reminders of each bill just in case you don’t have enough money to cover the bill.

Using the scheduler can help you save the stress of paying manually when the bills are due. Additionally, it helps one plan ahead where their money will go.

2. Budget Planner

This budgeting tool can help you to track expenses and plan.  With Mint Budgets, you’ll be able to organize your budget by goals. It’s all synced with your transactions and savings so you can be on top of your finances in one place.

With your budget, you can assign where each money is going to, either for a project or bills or groceries and so on.

3. Set Limits on How You Spend

We understand that it can be hectic to keep track of how much you spend while keeping up with your goals. That’s why we put you in control to set limits as often as you want. Want to minimize expenses daily, or be more flexible for emergencies? Your Mint Account is there to help.

Even with all the self-control in the world, there are times you don’t stick to following your money rules and that’s why the spending limit feature exists.

The spending limit tool serves as a final safeguard to keep you in check when you\’re about to exceed your budget. This tool also enables you to adjust your limit whenever you want

4. Track Your Expenses in Real-Time

Each time you spend, your Mint Account helps you categorize your spending so you know precisely how much is going to different areas of your lifestyle.

You can also make use of Mint Tips. Mint tips are built from your transaction history. Your Account learns as you spend, meaning it can suggest how you can save better, reduce spending on certain categories to meet your goals, and even enjoy discounts on common expenses.

5. Sub-Accounts for Savings

\”Putting money aside is very important in managing your finances. However, not saving for any specific goal can be a major problem in finance management. A savings account with a specific goal attached to it can feel more like a supplemental checking account.

If you are having difficulties in building savings, the mint app will help with sub-accounts for your savings account. With sub-accounts, you can be specific about what you are saving for in each account. When you have earmarked an account as savings for a new car, you are much less likely to use money from such an account to pay for a vacation. This process is known as mental accounting. It causes you to place value on money differently depending on what you have assigned it for. This will encourage you to be more responsible with money that has been earmarked for a specific purpose rather than money that is unlabeled savings.

This tool will allow you to allocate funds to sub-accounts under the umbrella of your primary savings account. You can give each account names with its savings purpose (i.e., new house fund, Vacation Fund, New Car Fund, Emergency Fund, etc).

Conclusion

Financial management is changing as the world changes, hence making it difficult to retain a budget using old tools.

Digital banking is gearing up to make money management easier for you, unlike traditional banks that solely held your money and sent you statements.

Financial management could be a complex skill to master, but with Mintyn, you can make use of all our online tools, automation, and account personalization. These will help you manage and grow your money without much stress.