Online shopping is a well-established global phenomenon. According to Statista, e-commerce retail sales are expected to top $4.1 trillion worldwide in 2024. That’s just the beginning – extraordinary growth prospects are projected in the coming years. As it stands, 20.1% of global retail sales come from e-commerce transactions.
The advent of e-commerce gave rise to a burgeoning app-based shopping, banking, finance, and credit management industry for smartphones and tablets. There are thousands of world-class apps available, some better than others. Today, we broadly explore five must-have app categories for routine transactions. Each category presents consumers with myriad worthwhile possibilities.
Let’s get started!
Restaurant Discount Apps
Rising costs and diminished discretionary spending can make it appear as if eating out is unaffordable. Fortunately, there are tech-savvy solutions to help reduce the upfront and out-of-pocket expenses at restaurants, grocery stores, and gas stations. With amazing restaurant discount apps, customers can claim in-app offers for authentic discounts and rewards over time.
Cash back redemptions are readily available via tried and trusted payment providers like PayPal, bank transfers, or electronic gift cards. Plus, shoppers can enjoy additional benefits with points, miles, or cash back on credit card reward programs. The leading restaurant discount apps feature 50,000+ participating restaurants, grocery stores, and gas stations. That means more choices, rewards, discounts, and savings.
Apps to Save on Banking Expenses
It can certainly be challenging to save money. Both newbies and savers understand the difficulties of putting money away for a rainy day. Fortunately, there are a variety of apps geared towards automatic savings. They can help consumers track spending, improve their financial habits, and reduce the unnecessary stresses of micromanaging financial activity.
Many automated savings apps are available at the App Store and Google Play Store. With your express consent, transferring funds from a checking account, savings account, or other accounts to help manage your finances is possible. Some of these financial management services are available as freemium products, with 30 days of free use.
Many financial savings apps aim to reduce banking expenses by limiting the number of transactions conducted and automating many routine activities. User-established rules can transfer a set amount into savings, based on certain conditions being met. For example, if you splurge at a restaurant, the automatic savings feature may transfer funds from a checking account to a savings account.
Apps for Investment and Stock Trading
Despite a relative honeymoon period for fixed-interest-bearing savings accounts, many prefer the stock market for investment and trading purposes. There are outsized gains to be had for savvy financial traders. The stock market remains a wise investment tool for achieving long-term gains. Whether it’s individual stocks or funds, there is always room for growth when buying and selling stocks, exchange-traded funds, and other securities online. All of this is available from the comfort and convenience of a smartphone or tablet.
With appropriate tools, features, and value-added benefits, generating passive income streams is entirely feasible. Of course, automatic investments, funds transfers, and re-investments from your stock trading and investment accounts are recommended. Many such options abound, and it’s wise to select top-ranking selections with minimal monthly management fees, commissions, and fixed expenses. With the right investment and stock trading app, it’s possible to set up alerts, track portfolio performance, and stay abreast of the latest developments.
Apps to Track Credit Card Purchases
Credit card purchases are a bugbear for many consumers. It’s so easy to charge a card whenever you want something. But with hefty interest rates between 18% and 30%, keeping track of your ongoing expenses is essential. Fortunately, many ranking apps are designed for iOS and Android devices to help you manage credit card purchases, loan accounts, bank accounts, and other financial accounts. Many of these services provide hassle-free options to monitor spending activity without resorting to spreadsheets.
According to US News Money, consumer credit card debt is through the roof in 2024 – the highest it has ever been. Given the dynamic nature of money management, ongoing assessments of credit card expenditure are sacrosanct. Various apps are available for individuals with revolving credit card debt, tracking credit card rewards, monitoring credit card benefits, or reducing debts. No specific recommendations are suggested to avoid bias. It’s incumbent on consumers to pick the most appropriate app, given individual needs and preferences.
Apps for Budgeting and Expense Management
Many folks agree that managing finances can be daunting. Luckily, expense management apps are available to make it much more manageable. These efforts are geared towards helping users track their income, categorize pending, and set financial goals. Then, it’s possible to visualize where money is going. These apps include unique features like bill reminders, monthly budgeting tools, and spending reports. Users can create customized categories for budgeting. These can be adjusted as required.
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