MOVING UP: How To Save Time and Money With Your Finances

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Many people struggle to make it through the day. Fortunately technology can help you make the most of your time, save you money and make both go much farther. Smartphones can help simplify your life in many ways, especially with money.

One way is to use the bill pay feature on your bank’s website. If you have an account with a large bank, most companies that will send you a bill will be listed on the site, which means you can electronically send money from your account to them. Many cell service providers also allow for paying the provider through your phone.

Several major food chains such as Subway, Wendy’s, Taco Bell, McDonald’s and others have apps that allow for you to use your mobile phone to pay for your food purchase. You use your debit or credit card to pay it in advance and then it is deducted each time you order. This makes it unnecessary to carry cash with you and allows  you to budget how much you’ll allow yourself to spend with that food chain ahead of time.

Another great advantage to using technology is making sure your check and debit card purchases are approved. If you are at a store, you can check your bank balance before you shop by accessing the mobile website or app for the bank. If you get to the counter and find that the purchase will cost more than is in your checking account, you can instantly transfer money from another account if you have it, and avoid your purchase being declined.

You can also add value to your Metrorail SmarTrip card online to avoid wasting time waiting in line before boarding.

Technology can be a great equalizer. As you go through your day in the District and you look at the White House or the Capitol, just remember that everyone— including President Obama, members of Congress and yourself—all have the same 24 hours in a day.

Minimum Wage Update

One thing to keep in mind about the upcoming battle regarding the minimum wage is that the issue is one that was created by the inaction of the city council. Minimum wages generally are voted on every several years and take several votes to get approved. One way to prevent that is if the City Council would vote to index the minimum wage. What that means is that the minimum wage would increase every year based on inflation. If the minimum wage was $10/hour and inflation was 4 percent, the next year’s minimum wage would be $10.40/hour. Without indexing the minimum wage to inflation, its purchasing power is minimized over time.

information about New Signature, a Washington DC tech solutions and consulting firm

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