For decades–even centuries–the most important financial thing you carried around was a wallet, checkbook, purse, or other means of spending money.

Today, though, almost everyone carries a cell phone, and whether they employ it as a financial tool or not, it has the potential to be a far more powerful financial tool than any of the traditional paper or plastic things that we’ve been carrying around all our lives.

How can that be? How is it possible that a trip to the nearest at&t store for an upgraded device is not only a way to get connected to friends and information but also a sort of business trip that can help us build wealth? And why do we need a new phone frequently when the same old checkbook can last for years? There are several answers to those questions. Let’s look at a few.

Financial Tracking
Most of us use online banking to keep up with our checking accounts and credit cards. They allow us to keep our balances current up to the minute.
Knowing what charges or debits are pending relative to the remaining balance can help us to prevent overdraft charges and over-limit fees, which can range up to $50 and sometimes even more.
Many bank apps have notifications that can alert us to impending problems via email or the app itself. All of this functionality relies on current devices, of course, so staying up-to-date is vital.
Enterprise Building
Sure, that’s a great selfie you just posted, but what if you also took a moment to post something on the social media accounts you run for your own business?
Many successful businesses have helped draw in customers and clients by creating timely postings about new products, sales, and upcoming events to keep their customers alert and engaged with what’s happening in the business.
The more you can do to get your business seen online, the better you’ll do.
Let’s say you went to a trade show in the early days of your enterprise. While you were there, you met a vendor who offered a product that might have something of use for your next project.
You talked to the vendor, made a couple connections on social media, and mentally bookmarked the experience. Now that the new project is ready to go, you’ve got rapid access to the vendor, and your development will be faster and easier just because of your connection.
Investment Management
We’ve looked a lot at short-term financial management so far, but we can’t forget the long term. Managing our investments as we’ve assembled them for retirement is a crucial function we should all be doing.
Simply socking the money into a 401k and forgetting about it is not a good strategy. Fast-moving real-time apps on current devices can give you lots of insights into what your money is and isn’t doing, and it can allow you to change your position into a more favorable one.
It seems that we’ve addressed two things that a lot of people don’t pay attention to the status of their phone relative to upgrades, and the status of our finances. Linked together, a modern phone and an attentive strategy for managing the money coming into and out of our accounts can prevent unnecessary costs,
build opportunities for business growth, and help optimize your financial strategy to position yourself for the most financially-sound retirement you can possibly develop.
But you can only achieve those goals if you’re willing to set aside the thinking that “the phone works, why replace it?” and be aware of how upgraded versions can provide greater financial security and opportunity for you.

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Abdullah Al Mahamud is a programmer and founder of Thedevline an Inspiration blog since 2014. He is passionate about Technology, Design, and traveling. He works on the freelancing marketplace as a freelancer and has also written for Useful Article in this blog on her audience.