Here, Carl Koenemann, discusses emerging applications that will change the way we look at money management.

1. THE FUTURE OF
E-FINANCE
By Carl Koenemann

2. There are a number of applications, websites
and online services that make today’s money
management a much simpler process than
even 10 years ago. It’s these services that
encompass the industry of e-finance, and they
have already dramatically changed the way we
deal with and think about money.

3. Paym is the UK banks’ way of
pushing back against PayPal. Until
now, PayPal has been the
dominant force in mobile
payment services, allowing people
to pay friends using their email
addresses back-linked to bank
accounts. Paym is a free service
that uses mobile numbers instead
of email addresses and allows
people to pay up to 250 euros a
day without releasing bank details.

4. Osper is another service from
the UK that is aiming to teach
children quality money
management skills and
independence. Parents give their
child a pre-paid debit Osper
card which links back to the app.
The child gets independence
and control while the parents
get to track charges and teach
their children how to make
better financial decisions.

5. Mint makes it easy to glance at your total amount of money.
It’s a budgeting and finance app that consolidates your
investments, bank accounts, and loans all into one neat and
centralized location. You can also use the app to stick to a
budget plan, to set goals and strategies, or just to remind
yourself to pay off certain bills. Mint makes it easy to glance
at your total amount of money. It’s a budgeting and finance
app that consolidates your investments, bank accounts, and
loans all into one neat and centralized location. You can also
use the app to stick to a budget plan, to set goals and
strategies, or just to remind yourself to pay off certain bills.

6. For those who prefer a gradual and seamless
approach to investing, Acorns is likely the perfect
app. It collects the spare change from all your
everyday purchases and then invests that money
into a diversified portfolio based on your personal
goals and risks. There are no trade commissions, no
balance requirements, no transfer fees, but it does
cost $1 a month plus a 1 percent management fee.