How mobile banking apps can help with holiday spending and budgeting
Posted: December 14, 2021 | Word Count: 732
The holiday season may be the most wonderful time of year, but it can also be stressful, especially when it comes to finances. While you want to celebrate, be merry and show generosity to friends and family, you also don’t want to break your budget. Fortunately, there are digital tools to help you manage your holiday finances, from budgeting and spending to monitoring your credit. Easy-to-use mobile banking apps on your phone can make it easier than ever to keep track of your money.
Here are some of the tools that can help you throughout the holidays and beyond.
Know where your money is going
One of the best tools to keep track of all those holiday gift purchases isn’t in your wallet: it’s on your phone. Mobile banking apps, like the Chase Mobile® app, make it easy for consumers to track their spending, deposit a holiday check from grandma on their cell phone, pay bills or send money to friends and family for group gifts or other holiday expenses. Keep your eyes out for deals too. For example, when you log into the Chase Mobile app, check out Chase Offers to take advantage of offers that could help you get a statement credit when shopping at top merchants. Select the offer(s) you want to use and it’s automatically added to your card, so it’s ready to use the next time you shop at that merchant.
Keep tabs on your credit
With the new year around the corner, take the time and steps to improve your financial health. A key component of that resolution will be your credit score, which is a number that represents a snapshot of your credit history that lenders use to help determine how likely you are to repay a loan in the future. The higher your credit score, the better you look in the eyes of a potential lender – i.e. getting a mortgage to buy a new home or loan for a new car.
Thankfully, there are free tools available to everyone to check their credit score, so that they can make necessary adjustments before their next major financial decision. For example, you can use Chase Credit Journey, an online credit monitoring tool available to all consumers for free, to check your credit score at any time without impacting your score. The best part, you don’t even have to be a Chase customer to access personalized resources to help you build and maintain your credit.
Credit Journey also provides critical alerts by monitoring your credit and identity to help you protect yourself. Plus, you can personalize your settings to see the information that’s most important to you. This includes insights about how certain purchases may impact your credit score.
Go in on a group gift
Considering chipping in for the cost of a gift with friends and family for a mutual recipient on your list? With Zelle®, you can send and receive money from almost anyone with a bank account in the U.S. The best part, it’s likely already in your bank’s app (available in more than 1,200 banks across the U.S.!) All you’ll need to do is sign into your banking app and use the recipients’ mobile number or email to send money into their bank account.
Consider payment plans for big purchases
To help spread out the cost of big-ticket items like a special gift, trip, or an engagement ring, it's worth considering payment plan options. If you have an eligible Chase credit card, you could use My Chase Plan® to pay off a purchase over time in equal monthly payments with no interest, just a fixed monthly fee. Chase cardmembers can calculate plan options even before making purchases of $100 or more. On top of that, cardmembers still earn their valuable credit card rewards on the purchase, there’s no credit check and you don’t have to worry about managing multiple accounts. You can manage it all from your Chase Mobile app or on Chase.com.
With a little planning and the right tools at your fingertips, you can enjoy the holidays while staying on track with your finances and budget at the same time — making this holiday season even brighter. Visit Chase.com/mobile to learn more.
Deposit and credit card products provided by JPMorgan Chase Bank, N.A. Member FDIC