Although now, in the early summer of 2012, the economy is starting to gain traction, many people, even those with jobs, are struggling to remain financially solvent. One of the main reasons people are struggling is a lack of financial awareness and information. Fortunately, in our modern world where the smart phone reigns supreme, There is, as they say, an app for that. Here are a few of the top personal finance apps.
The Big Picture:
For an excellent look at your big picture financial situation, Mint.com has a free app for iPhones and Androids, which can also be accessed from the Web. Simply hook it up to your various accounts (savings, checking, investments, credit cards ect), and it will give you a good idea of your overall financial health. Unfortunately, because it’s free there are advertisements, which can get slightly frustrating. However, the company does need to make money somehow and the advertisements allow them to offer an amazingly helpful service without it being too good to be true.
(Photo credit: Wikipedia)
Getting the True Price:
Those with weighty credit card balances might want to check out an extremely useful app called “Debt Dog.” With this app you imput the price of the item, and the type of credit card you are using, and it will tell you the true price of purchasing that item when you don’t actually have the money on hand. Although not quite sophisticated enough to allow you to imput late fees, it will raise your awareness of how much credit card interest is costing you in the long run.
Alternative Payment Method:
Use PayPal whenever possible. Although you are probably already familiar with the Website, PayPal now has an app that may make debit cards obsolete. Let’s say you and four friends go out to dinner. You could either pay with five different credit cards and cause your waiter or waitress a great deal of unnecessary trouble, or you could just pay for it with your PayPal app and then have your friends send you their portion of the bill instantly. This service is fast, safe, secure, and (as a new feature) allows you to deposit checks by taking a picture of it with your phone!
And All For Free?
I believe I can guess what you’re thinking. You’re thinking, “that all sounds well and good, but aren’t smart phones expensive? and wouldn’t it be counter intuitive to spend a lot of money on a phone to get my spending under control?” Yes, it would if smart phones had to be expensive. Look into T-mobile free cell phones, many of which are smart phones, when you get a new contract with them. What’s even better about this is T-Mobile’s amazing 4G network, which will allow you to download, and use, your apps more quickly.
Although getting your finances under control may be a daunting task, you can take the first steps with these amazing apps!
