Whether we like to admit it or not, the plague of modern man –– and woman –– is money. Everybody worries about it at one point or the other during their lives, some more than others, unfortunately. Be it for paying the bills, making your mortgage payment, or just splurging on the latest tech gadgets, the key to a healthy financial situation is planning. In other words, you can’t go buy the latest smartphone when you don’t have enough money to pay for your car installment.
While financial planning might seem a bit complicated at first, with some time and a little help, it’s quite manageable. These apps will help you get your finances in order, because why go at this alone?
The main problem a lot of people face when it comes to finances is the fact that they don’t even think about them. You see a pair of jeans that you like at the mall, so you buy them. Later at night, an ad for the latest skincare product pops up –– because the internet knows you’re an easy target –– so you take out your credit card and make the online purchase. This is where apps like Mint come in. It can help you keep track of your spending and see where all the money is going. Mint tracks your credit cards, bank accounts, and investments. Another great feature about this app is the fact that it is accessible from all devices, so the next time you’re considering going on a shopping spree, you get to see how much money you’ve already spent that month.
The most important pillar of sound financial planning is budgeting. You can’t just go about spending, or even saving, money without having a good overview of the money you earn versus the expenses that you have. As explained in the article from CalendarBudget.com, this app can help you create an organized calendar with your due bills as well as your expenses and income. You won’t forget about a due bill, and you will get to plan for any major purchases you want to make in the future when you know how much money you’re expecting, and when, not to mention your other existing expenses.
This is one of the coolest apps in the market that could help you keep track of your finances through detailed expense reports, which prove especially useful for frequent travelers. It also proves quite relevant for users who go on business trips and have a certain expense account to spend from. You can take pictures of your receipts, enter any distances you traveled, and even track time spent on a job for a later detailed expense report.
You Need a Budget
While, at first glance, You Need a Budget looks like any other budget tracking app, there is so much more to this one. The thing with this application is the fact that it forces you to use only the money you earn, for budgeting. In other words, your budget will be based on real, accurate numbers, rather than money you don’t necessarily have yet. This helps keep you sharp when it comes to finances and prevents any unnecessary spending. In the long run, this app also proves quite useful in managing –– and getting out of –– debt.
You can’t use just budgeting and expense tracking apps for sound financial planning; you also need a saving one. What you do with this one is connect some debit or credit cards to the app, and for every purchase that you make with the said card, Acorns automatically makes an investment on your behalf in a portfolio that you set up at first according to your own preferences. The app simply rounds up your purchase to the next highest dollar, investing the difference so you can make some passive income in the long run. It definitely is a welcomed surprise when you find hundreds of dollars in your account after a year or so.
This is another expense tracking app that comes with an additional bonus: a simple, intuitive design and a very important feature that can help you adjust course when your spending isn’t as it should be. You enter your transactions manually into this app, and you get a clear view of your spending habits and how they need to be adjusted.
It all comes down to whether or not you’re willing to put the time and effort to make this work. These apps can certainly make handling your finances a lot easier, but you have to commit to using them. Create a consistent budget, and stick to it using budgeting apps. And use expense tracking applications, too, so you can spend money wisely. Eventually, you will find that having your finances in order was worth all the effort.