Apps like Uber and Amazon make life convenient, yet they can also lead to unwanted spending. Here are some strategies to help you regain control over your finances.

When was the last time you stood in a lengthy line to buy something at the mall? If you’re not a Black Friday enthusiast, it’s probably been quite some time. Nowadays, we don’t need to visit a store to shop; our credit cards are securely stored in our favorite shopping apps, allowing us to quickly add items to our carts and check out with just a click. This convenience can result in significant expenses.

In 2018, app-based consumer spending surpassed $101 billion, a 60% jump since 2016, according to App Annie. What accounts for this surge? “Apps obscure the total amount we’re spending,” notes clinical psychologist Sherrie Campbell. “Press a button and your Uber arrives, or just show your phone at Starbucks. We experience gains without realizing the losses.” Plus, if tracking finances isn’t your strong suit, you may not realize how your app spending accumulates.

Fortunately, there are effective ways to reconnect with your finances. Here are four methods to consider.

Enable Purchase Alerts for Your Cards

Enhance your banking experience by opting in for alerts. When you allow your bank to send notifications about purchases or spending thresholds, you’re faced with the immediate impact of your spending decisions.

“Your bank can notify you about your account balance, making it easier to adjust your spending,” advises Josh Mungavin, a certified financial planner at Evensky & Katz Foldes Financial Wealth Management. “Credit card alerts can similarly inform you when your balance exceeds a specific limit.” Think of it as a helpful reminder to stay on budget.

Utilize Budgeting Apps and Blockers

Your smartphone is a powerful budget ally — it can either support or sabotage your financial goals. That’s why budgeting apps such as Digit or Empower have gained popularity. These tools enable you to monitor in-app spending and keep your finances in check. By linking your bank account, these apps analyze your income and advise you on your saving and spending habits.

If you’re serious about curbing expenses, consider an app blocker, suggests Mungavin. These tools restrict access to certain apps based on your chosen criteria, like specific times during the day. For instance, if you often browse Zappos during lunch, you can set the blocker to restrict it from noon to 2 p.m. This approach can also reduce screen time and distractions, ultimately leading to fewer impulse purchases.

Shop on Your Computer

Think about deleting certain shopping apps and establishing a rule to shop solely on your computer. Why? Using a computer slows down the instant gratification that apps provide. Typing a URL requires more effort than a quick app click. Plus, you need a Wi-Fi connection to shop online. Buying via computer feels more deliberate since all your purchases occur in one browser, helping you grasp your total spending. As Campbell notes, shopping across multiple apps can obscure your financial picture.

Establish a Discretionary Spending Account

While having separate checking and savings accounts is common, consider creating a discretionary spending account. This system can help manage your finances effectively. Mungavin suggests setting up multiple bank accounts that allocate a portion of your paycheck for various purposes. Some funds would go to savings and essential bills, while excess money flows into your discretionary account. This gives you “fun money” for guilt-free spending without impacting your other financial responsibilities.

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