While a mobile banking app is a great asset, it’s not necessarily a one-stop shop to managing your finances because it may be limited to the accounts you have at one bank. If you have multiple accounts from different banks and want a holistic way to manage your money, consider creating a budget spreadsheet or signing up for a budgeting app like Mint or You Need a Budget.
In order to create your own budget method with similar functionality to an app, following these five steps:
- Calculate your net income
- List monthly expenses
- Label fixed and variable expenses
- Determine average monthly costs for each expense
- Make adjustments
*The study surveyed Chase customers and non-Chase customers separately, but the data is very similar. For the purpose of this article, we averaged both responses to get a holistic view of all customer digital banking attitudes.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the CNBC Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
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