Many people are not able to stay for an entire day without regularly checking their smartphones. Considering checking text messages, checking emails and chats has now become part of our daily routine. Smartphones are very smart that they enable us do shopping and pay the bills and yet be on the go. Smartphones can enable us to maintain a track of our finances as well.
By use of downloadable apps, you are now able to create a budget that you can stick to and even making investments through your phone. There are numerous finance tracking apps available in the market that it is rather frustrating to find a suitable one for your needs.
Why The Need For A Finance App?
There are a large variety of financial challenges that people face in their everyday life. Financial challenges are hard to tackle since they involve the much-dreaded balancing of financial accounts. When your financial problems are not handled immediately, they could eventually lead to a major financial setback. You will to first identify the root cause of the problem you are facing and then work at finding a suitable solution to overcome it.
You will need to recognize the things you often spend your paycheck money on and ways in which you can holistically make a move towards better money management practices. You will need to break off the habit of living from paycheck to paycheck or borrowing from legit sources like moneylenders. You will also need to establish ways of ensuring you have extra savings using the least effort possible.
Some Of The Best Personal Finance Apps In 2017
Wally: Best For Tracking Your Expenses
Wally is a free personal finance app, which helps you recognize all the areas where your money goes, and ways in which you spend and when you do the spending. This app also allows you to save photos of your receipts for purposes of records.
Your financial lives can sometimes be complex and not every one of us loves accounting. In using Wally, you will be able to easily to notice what happens to the money you bring in, what was saved, what you earn and what you need to adjust to your budget.
The Wally App is very easy to use and it makes tracking your finances very simple as well as convenient for you. The time you spend some money, you will only need to take out your phone. The graphs generated will give you insight into areas in which you spend money on. In this manner, you can well understand your spending behaviours and ways you can save up more.
Mint: To Help Manage Your Money
The Mint application is the creation of the Intuit Inc. the company responsible for creating QuickBooks –accounting software used for smaller to medium-sized businesses and the Turbo Tax- American tax preparation software.
Like the real mint gives you a fresh breath, the Mint App has a refreshing effect on your finances. This app is web-based and is a free financial tool used to tap into your credit cards, bank account, investments as well as other financial accounts you may have. With this App you do not need to log into different sites, you only require to open a Mint account.
The Mint App gives you the visual of the areas you often spend your money in, how much money you have in the bank accounts, which of your accounts need additional funding and whether you will end up messing with your own budget. The Mint App makes it possible for you to handle your finances in ways that are beyond simple budgeting process.
You Need A Budget (YNAB): To Help You Get Out Of Debt
If you are tired of living in the endless cycle of paycheck to paycheck expenditure, then You Need A Budget (YNAB) will help you keep track of your finances. It will help you define your spending patterns, paying your debts, coming up with a workable budget and having some extra cash should you experience an unexpected financial bump.
You Need A Budget pushes you to make a workable budget which differentiates it from other apps which require you to make a budget with money you may not have. And should you go off track, YNAB App will help you make necessary adjustments to your budget so that you don’t wreck the entire budget plan.
The main purpose of this App is to have extra money for you to spend from the previous month’s earnings. This for you means you have broken free of the cyclic pattern of living paycheck to paycheck and you have some money to pay off debts and remain with some extra cash for your use.
Despite the fact that users have to pay $50 annually, the support and services it offers are well worth it and it even comes with a money-back guarantee.
Acorns: To Help You Make Extra Savings
With the Acorns App, micro-investing becomes a natural way for you to earn more cash on the side making your spare change work for you. Each time you purchase using the card connected to the Acorns App, the app converts it to the next highest dollar. The distinction between the amount changed and the estimated cash amount is automatically invested in a portfolio of a low-cost exchange-traded-funds (ETFs) at the end of each year.
Acorns app sends out a questionnaire to get to know your financial goals and situations and thereof the app makes recommendations which are a mix of ETFs that you can invest in. you are able to manually set up a one-time and even recurring investments. The app charges account having less than $5,000 a monthly fee of $1 while those accounts with more than $5,000 are charged 0.25% each month.
The different apps can turn your smartphone into a financial companion driving you towards better money management practices. You can use apps for different financial reasons but they are effective depending on how you change your spending patterns.
For you to reach your financial goals it will take time and discipline on your part, however, you will from time to time experience some financial gaps. Even then do not panic since you can access a personal loan from moneylenders in Singapore.