A recent survey done by online banking service Ally Bank indicates that saving money, more so than splurging on big purchases or even earning a bigger paycheck, results in more happiness and a greater sense of well being. Of those surveyed for this study, 53% didn't have any sort of savings plan.
See also: 10 Apps You Need to Dominate Your Work Day
If you're part of that 53%, or if you just want to increase your financial security (and happiness) by increasing your savings, consider using an app to do the work for you.
You may think you rarely eat out, but your bank statement suggests otherwise. Or, you consider your gym membership a necessary expense — only to find that forgoing it and running at the local park could mean an awesome vacation a few months down the line. Regardless of your specific situation, turning transaction numbers into meaningful data could help you find a way to take control of your financial goals.
No one enjoys keeping track of their finances. That steady trickle of money from your paycheck toward bills, rent and other expenses can be so depressing, it's easy to just throw your hands up and hope for the best. But if your principal financial strategy is keeping your fingers crossed until the end of the month, you might want to try HelloWallet.
HelloWallet is a financial services app that tracks your expenses and provides insight based on your spending. Pulling up your account on the web will instantly show you recent transactions, accounts and a budget summary, all based on the financial information you provide to HelloWallet when you sign up. By logging where your paychecks disappear to, HelloWallet helps you determine where to trim excess spending so you can work toward saving more money.
Image: HelloWallet
In addition to providing spending insights, HelloWallet also creates a budget to help you work toward your financial goals, whether that's paying off student debt, buying a new car or saving for retirement. Alerts and reminders mean you won't be responsible for checking in with the app every so often; it'll keep tabs on your spending on its own, proactively keeping you in the loop. HelloWallet also has a unique feature to help you reduce your interest rates and other fees that can add up to big spending.
The real edge that sets HelloWallet apart from other services is its company solutions. Companies using HelloWallet can lower healthcare costs and tax liabilities while increasing the amounts employees contribute to their 401(k) plans. Each employee can set up their own individual account and contribute to the company community, all the while getting guidance and reinforcements that are personalized to their specific financial needs.
A financial services plan is increasingly becoming one of the most popular benefits companies are using to recruit top talent, according to Fox Business. Employers are using the services to increase employees' retirement and financial knowledge, and HelloWallet can provide this sought-after benefit for companies at a lower cost.
Personal plans cost $100/year, which the company insists is a fraction of the amounts you'll save. You can also take HelloWallet on the go with the mobile app, available for free on the App Store and Google Play.
What's your secret to spending money? Tell us in the comments.
Image: Carla Gottgens/Bloomberg via Getty Images