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Get Your Finances Under Control in 2016 With the Aid of Apps

Written by , Posted in Money & Finances

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If you’re like many people around the globe, your New Year’s resolution, if you had one, was probably either about your health or your finances. If saying goodbye to money troubles in 2016 is your goal, you might already be feeling a little dejected when faced with having to pay off your credit card after an expensive Christmas period and maybe even a vacation.

Thankfully, there are lots of things you can do to spend less and save more this coming year. One of the best ways to get your personal finances under control is to make use of apps.First and foremost, if you have an online checking account, there is definitely a bank app that you can use to keep track of all of your spending. Checking this regularly can help you spot fraud early. In addition to your bank app, there are also hundreds, even thousands, of applications on the market that make it simpler than ever to see at a glance how much you spend, where you could cut costs, and how to increase your savings. Read on for some of the best personal finances apps worth downloading today.

Mint

Mint is one of the most highly-regarded personal finance applications, with customers around the world, and a variety of awards won since it launched. The system was created by Intuit (the makers of Quicken personal finance software), is free to download, and is available for both iOS and Android operating systems.

Mint gives users a comprehensive and real-time look at their finances by grouping all of the pertinent data into one place. Customers can see their personal finance data at a glance by reading the graphs and charts produced by the app, and therefore easily understand where things are at with their financial position.

If you want to set and stick to a budget, track your expenses, and just generally manage your money better, you’re sure to love Mint. The platform can handle all areas of your various financial data, from credit cards, home loans and bank accounts, through to student loans, car loans and retirement accounts. Cash payments can also be added into the system manually if required.

Use this app to get a clear picture of where you spend your money each month; set savings goals for your future; categorize each expense you enter; be alerted to due dates on bills creeping closer; and receive a warning if your budget limit is being approached. In addition, Mint is also set up to send users regular savings tips specialized just for them (tips can cover things such as suggested savings accounts that pay better rates of interest, organizing a balance transfer to save on interest accumulation on the debt, or credit cards which charge lower fees.)

BudgetSimple

If you need a hand setting up a good budget then you might want to check out the free BudgetSimple app. BudgetSimple’s online system is designed to help users not just get out of debt but also to start saving so that they don’t have to continually stress about how to pay their bills or feed their family each month.

The budgeting tool analyzes your household’s finances to see how much you bring in and where you spend your cash; from there, it automatically creates a budget planner to suit. This planner gives you suggested areas where you can increase savings or cut back on expenses, and is likely to come up with areas of improvement that you hadn’t spotted yourself. BudgetSimple can be automatically linked to user bank accounts for up-to-date adjustments, and expenses can also be entered manually by customers for cash transactions.

Level Money

The Level Money app is another popular personal finance app that’s free to use, and available for both Android and iOS gadgets. The app’s makers advertise the system as a “mobile money meter,” as it is designed to come up with a suggested spending level (daily, weekly, and monthly) for each user, based on their income and recurring bills.

Level Money can be linked to your bank account so that you can track your cash flow every day, and the system can also give you a recommended dollar amount that you should be able to save each month; these savings are then subtracted from your budget.

If you struggle not to spend any spare money straight away, you should consider setting up the app’s “auto-save” function. This way, any leftover funds in your budget at the end of the month are automatically rolled over to your linked savings account on the spot, and savings are enforced without you having to do a thing.

BillGuard

BillGuard not only helps consumers to track their spending, but also works as an online security system to protect credit cards from being hit by theft or payment errors. The app is free, downloadable for both iOS and Android devices, and links with online credit card statements to stay on top of activity day by day.

Utilize BillGuard to view your card balances at any time; keep track of recurring invoices; and be alerted if any suspicious charges are added to your credit cards. The system can also send you an update if a data breach occurs at any of the retail outlets, restaurants, grocery stores or other venues where you have made a purchase with your card in the past.

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Taylor Madsen

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