People choose to manage their money in a whole host of different ways – from monitoring finances via an ATM to checking online.

The development of smartphones and tablets has opened up another pathway into the banking world as well – with apps available to tell us virtually all we need to know about our money.

From what is spent at the petrol pumps to the cost of regular bills, food and clothes, it’s possible to see exactly what is spent, right down to the last penny.

Millions of people in the UK now use smartphones and tablets and there are plenty of available options to help make life easier.

A wide variety of personal assistants

Many phone apps perform in a similar way to having your own personal assistant – they are able to manage your lifestyle without you needing to have too much input.

Some apps come at a cost, while others are free to download, but in the case of the former, almost all will provide savings that are far beyond the initial cost of the app.

Even software to manage data usage on our devices can help save money – especially when it comes to mobile internet usage.

Some applications promote energy-saving in the home – providing ample opportunities to cut bills and make a saving that way.

Others can identify particular household items that may be draining electricity and suggest alternative energy suppliers that could be cheaper.

Finding options to make a saving

Debt management apps can also provide consumers with a chance to manage any debts that may have been accrued over time and calculate a way of repaying effectively.

Others can track your daily spending on all items and highlight specific aspects of lifestyle that could be altered in order to make a saving – spending less on work lunches or nights out, for example.

Apps that can help to calculate VAT and taxes, especially when abroad, can also come in useful for those wishing to recoup costs at a later date.

Some apps even provide vouchers and discount codes to enable purchases to be made for less, from meals out to money off on your favourite shopping sites.

Focusing on budgeting and managing money

Many of the apps focus on budgeting, as good financial management can have a hugely positive impact on people’s lives.

Financial management is extremely important, so keeping your spending in check with a prepaid card is a great way of ensuring you don’t spend more than you would like.

A prepaid card limits spending to the amount on the card at any given moment and is not directly linked to a bank account, making funds considerably safer.

The cards can easily be topped up or replaced if required, while accounts can be checked regularly online if needed.