Data shows that almost 25 percent of Americans miss paying at least one bill each year. As well as causing stress, this can adversely affect your credit score. For example, you might be charged late fees, and your promotional interest rates might revert to standard levels. The rise in smartphone applications has, however, introduced mobile solutions to help you stay on track.
Intuit's Mint is one such app, helping you to manage your bills and payments. Intelligent features mean that it can send payment alerts, automatically update the payment statuses, and sync transactions with financial history.
Such a tool could revolutionize the way many people pay their bills. Customer research from Mint found that many people use spreadsheets, calendars and sticky notes to try and keep track of their money. Many also track their financial records on several different websites, whereas a centralized solution would minimize the chances of missing payments.
The Mint application is available for Android and iOS, and includes a variety of features to simplify money management. Smart reminders send out bill alerts with due dates and balances, two-tap payments learn transactional history to streamline future payments without using multiple accounts, and quick payments via Mint often allow transactions to complete within a day..
Tools like Mint are ideal for people wanting to become better at managing their finances, helping to improve credit scores and also offering potential savings.
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