Mobile Finances v. Pen & Paper

U.S. & World

Even though vast amounts of info pertaining to your personal finances rests in the palm of your hand, there is a new school of thought.

“Put down the technology here,” says Douglas Boneparth, Certified Financial Planner. Boneparth adds, “What we want to do is really change behavior.”

Change behavior, by changing to an old fashioned approach of managing of your money.

Boneparth says, “Sometimes using technology is going to give us a shortcut, and this is not the area of personal finance that we want to have a shortcut.”

Advice, the co-author of “The Millennial Money Fix” says may even mean resorting to pen and paper, to manage things like your budget, cash flow and expenses.

“Not by necessarily pouring it into a program,” says Boneparth “That is going to use an algorithm or artificial intelligence to tell you what you’ve been doing!”

Because, he says, no one’s developed an app, yet, that can manage your money better than you.

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