In these uncertain economic times, we could all benefit from better tools to manage our finances and save money. Fortunately, there are many ways to use our smartphones and free tools to achieve our financial goals.
This blog will share tips and tricks for a variety of users. I believe we can achieve our goals with minimal effort and cost. If you have a smartphone, online access, and a dash of discipline, we're ready to get started!
Gift cards are a boon for the giver, but a pain for the receiver If you're like most people, you have a stack of unused gift cards lying around the house. While there are a number of ways to increase the speed and likelihood of redemption, each option has significant drawbacks. One method is to store all gift cards in a separate wallet that is left in the car. Another method is to leave the card at home until a visit to the relevant retailer is planned. Yet another method is to carry all gift cards in the wallet. All three options have significant drawbacks, from the pain of carrying a large wallet to the risk of not having access to a gift card at the moment it is needed. Fortunately, there's a fourth, and vastly superior, option. Gyft mobile application Gyft is a relative newcomer to the scene. However, it revolutionizes the traditional plastic gift card. One of the core functions of Gyft enables users to simplify the storage and redemption of traditional plastic gift cards. Let's take a look. Gyft walkthrough with gift card for BJ's Restaurants Step 1 - Select the "Add Gift Card" option
Step 2 - Search for the retailer/restaurant/provider
Step 3 - Enter gift card information & add to wallet
Step 4 - Done! The gift card is now in your wallet. You can leave the gift card in a safe location at home.
Redeeming a gift card through the Gyft mobile application Step 1 - Select the relevant gift card and click on "Redeem"
Step 2 - Present the barcode to the cashier/server/clerk for scanning or keying in
Conclusion
That's it! Another way to carry less in your wallet and increase the velocity of gift card usage. Also, there's a lower risk of losing your gift cards. If your phone is stolen, the lock that you enabled will prevent thieves from using your gift cards. Carry less, eliminate unused gift cards, and reduce the risk of theft-- three great reasons to use Gyft or a similar app on your smartphone.
Quick tip: lock your smartphone I was a bit surprised by a couple of stats I recently stumbled upon. A blog post from iovation and another blog post from ZDNet reported that most smartphone users forgo the locking functionality. While entering a PIN to use your phone may seem unwieldy, the time, effort, and money required to recover from identity theft can far surpass the time required to enter a four digit PIN with each use. Information on your phone Our smartphones not only store an incredible amount of information, but they are also a gateway to many of our online accounts. Information commonly found on smartphones include:
The majority of personal information a fraudster needs to perpetrate identify theft, for example: full name, address, DOB, phone number, etc.
Personal information about those we care about, including: names, phone numbers, addresses, email addresses, and social media profiles
Personal photos and videos
Financial information, such as bank accounts, transaction history, and financial instruments
Physical location history via check-in, mapping, and review (e.g. Yelp!) applications
A more secure option The first line of defense is basic common sense and situational awareness: be mindful of where you use and store your phone. The second line of defense, a simple PIN, takes less than four seconds to unlock, but can stop basic hacking attempts. Be sure to choose a strong PIN. The third line of defense is remote wipe. With a small amount of effort, the smartphone can be a secure alternative for your wallet.
Bonus function A locked smartphone will also reduce the risk of untimely pocket dials.
iOS (iPhone) Instructions Step 1 - Choose the "Setting" icon from the home screen Step 2 - Navigate to the "General" option
Step 3 - Scroll down to the "Passcode Lock" option
Step 4 - Select "Require Passcode." In this case, "After 1 min." is selected. For increased security, select "Immediately". For stronger security, turn off "Simple Passcode" and select a strong password instead.
