Several years ago, entrepreneur Yaron Samid noticed a fraudulent charge on his credit card. When he investigated, he found that it had actually been a recurring charge, added to his monthly bill, that he had been paying without even realizing it. He also discovered that other people posted online about the same charge, and he wasn’t the first person to be surprised by it.
His tech background inspired him to start thinking about how people could share information about such fraudulent charges to help protect each other. That concept led him to create BillGuard, an app that has been used by more than 1 million people worldwide since it launched in July 2013. “The app is helping people make sure they’re only paying for what they should be,” says BillGuard spokeswoman Marina Boykis.
BillGuard is one of several apps to hit the market recently with the goal of protecting your finances and saving you money. Other popular ones reduce your parking expenses, help you track spending and help you find discounts and coupons. Here’s an overview of some of the most popular apps, which are all available for both iOS and Android, and how they work:
1. BillGuard. The BillGuard app, using bank-level security, pulls all your transactions from various accounts, and flags ones that might be erroneous, including duplicate charges that have been flagged by other users. You can flag a charge and dispute it with a company directly through the app. When a retailer faces a data breach, BillGuard alerts you if you shopped at the store during the period of the incident.
The app saves people money, Boykis says, because most people quickly skim their account statements – if they review them at all – which makes it easy to miss errors. Last year, BillGuard flagged more than $70 million in suspicious charges. “This puts you in control of your money and helps you fight back, especially given all the data breaches,” Boykis says.
2. Key Ring. This app lets you store your rewards card numbers on your phone so you don’t end up missing out on discounts because you forgot your rewards card. “It lets you throw away all of the discount cards taking up space on your physical key ring,” says Lisa Koivu, contributor to the U.S. News Frugal Shopper blog and founder of ShopGirlDaily.com. “Now, since I always have my phone, I always have my discount cards.”
Koivu says she uses the app most at CVS, which also lets you load coupons onto your discount card online. On a recent trip, she saved 20 percent off her entire purchase with the coupons and card discounts.
3. Retailers’ apps. If you have a store you frequent often, then check to see if it has an app, because it could save you money on products you’re buying anyway. Koivu recommends the Target Cartwheel app and Shop Your Way app for Sears and Kmart, which offer exclusive discounts to shoppers.
4. Gift card apps. These apps, including GoWallet and Gyft, help keep you from ever forgetting or losing a gift card again. You can upload your cards onto the app and use it to track and redeem them. Like the Key Ring app, it lets you save even when traveling lightly, without all your cards.
5. Retail Me Not. This app means you never have to clip coupons out of Sunday circulars again. Instead, this app collects coupon codes for you, and lets you save your favorite stores for easier tracking. The best part is you don’t have to save a paper coupon at all. At checkout, just show the code on your phone to snag the deal.
6. Ebates. This app gives shoppers cash back for purchases and recently started offering users even better deals one Monday every month, dubbed Mobile Monday. The app lets shoppers earn cash back at more than 1,800 retailers, compare prices and track deals. Shoppers can get as much as 20% cash back on their Mobile Monday purchases.
7. Park Whiz. If parking is eating up a big chunk of your monthly budget, then the Park Whiz app could be what you need to cut costs. It makes it easy to search – and reserve – nearby off-street parking. Available in 150 cities nationwide, it also offers discounts on garage parking (as well as open-air lots) and even find spots from private homeowners who have open spots available. “We work with parking providers to offer our drivers exclusive discounts only available through the service, sometimes up to 60 percent,” says Park Whiz spokesman Mason Pain, who uses the app to lock in a low monthly parking rate for his own commute.
Depending on your shopping and driving habits, one of these apps could probably help you save – and help meet your financial goals for the year.
Download First Financial’s mobile banking app today! Our app provides convenient, easy, and secure banking and bill payment solutions right from your iPhone or Android device. You can even pay other people with the PopMoney feature in Bill Pay. Get 24/7 instant access to your First Financial account – including bill payment, make transfers, check your balances, find branch and ATM locations, and receive account alerts.*
*You must have an account at First Financial Federal Credit Union (serving Monmouth and Ocean Counties in NJ) and be enrolled in Online Banking, to use this application.
Article source written by Kimberly Palmer of US News.