Better money management happens when individuals have centralized tracking and real-time visibility of personal finances. In this digital age, smartphone users have no excuse for losing track of their money and spending habits with mobile applications offering every conceivable convenience for banking, paying bills, tracking your debt and monitoring your investments. Just as Facebook and Twitter allows you to organize your social life, these apps will help you get your financial life in order. Credit Unions want each of their members to have healthy money habits, growing investment portfolios and the tools to become debt-free. These are some of the best mobile apps for managing your accounts and spending habits so that you will be better equipped to make informed decisions to stay within your budget and reach your goals for financial success.
We love our Mint.com mobile app (available on Androids, iPhone and iPad). This app automatically tracks all of your personal finances: bank accounts, credit cards, loans, spending, investments, etc. as well as allows users to set financial goals. Create a personal budget, set goals like buying a home then track your progress, and manage your debt to income ratio with this speedy and reliable app. And as long as you are connected to the internet, you can get real-time financial snapshots, warnings about spending outside of your budget, and notifications for on-time bill payments.
PageOnce is a leading mobile app (available on Android, iPad, Windows Phone, and BlackBerry) for monitoring account activity and paying bills online. After taking a few easy steps to link your bank accounts, this simple to navigate app allows users to view account balances, transactions, pay bills (for 30 cents per transaction) and view the state of their personal accounts all on one menu.
Expenditure is a mobile budgeting app (available on iPhone, iPod Touch) that allows you to keep a detailed record of every transaction. The easy overview menu let you monitor your day to day expenses at a glance and organizational tools to help you see where your money is going. View your expenses by category, make notes on transactions and even take pictures (which could come in handy with insurable purchases). .
Expensify is a mobile expense report app (available on iPhone, iPad, Android, Windows Phone, or BlackBerry). This app is particularly useful for employees and companies which deal with expense reports on a frequent basis. Users can scan receipts or import credit card transactions to the app, Expensify then automate an expense report in PDF format which may be saved or sent directly to the email of your company’s accounting team. The app even keeps track of travel mileage. We rate this as one of the best apps for business travellers.
5. Adaptu Wallet
Adaptu Wallet is a mobile budget and personal finance app for iPhone and iPad users, similar to Mint.com. Along with the ability to link and monitor accounts, Adaptu provides comprehensive chart tools and investment summaries. Keep track of your IRA and 401(k) and monitor the daily stock quotes to keep abreast of news vital to the health of your investment portfolio.
6. PayPal Mobile
Paypal Mobile is one of the best apps for sending money (available on iPhone, Android and Blackberry). If you shop online, sell products online, owe a friend $20, or need to be paid for contracted services, then you probably have a PayPal account and could use a mobile app to make or receive safe and secure payments from anywhere at anytime. When the check comes and you find you’ve left your wallet at home, send money to a friend across the table. Or drop-in on that beach boot camp and pay your trainer right from your phone.
7. Debt Tracker Pro
Debt Tracker Pro is a mobile debt management app (available on iPhone, iPod Touch and iPad for $3) which allows users to track loans, credit card, mortgages and other debt balances, payments. It’s best feature are the planning tools which allow you to make different payment scenarios and pick a strategy for becoming debt-free while continuing to mee your current financial obligations.
8. Credit Karma
Credit Karma, one of the most popular free credit monitoring site, is offering a Credit Karma Mobile app to iPhone users. Monitor your credit report and get live alerts to actions and changes to your report all for FREE!
Teach your children a little money management with iAllowance mobile app for iPhone and iPad users (for $3.99). Kids can accumulate money from an allowance or by completing a list of chores which they can then spend, save or give to charity. There are even optional tools to include earned-interest to teach children the value of long-term saving. Parents have certain controls, can view how much kids have spent or saved, and have access to easily read reports. Parents can give them cash or make deposits to their personal accounts.
Shoeboxed is simple mobile app (available on iPhone, iPad and Android) which digitizes your receipts. No more sloppy piles of receipts in the office and snap a photo of your receipt for processing and tracking expenses on the go. The app organizes the clutter of your financial documents into one location for real-time bookkeeping and digital storage of vital records. Finally, a word of caution to mobile app users. While these apps can make managing your finances an easy task, there is the potential for security breaches. Use caution when downloading applications, only use reliable online stores, create and change strong passwords regularly, and if your mobile device is lost or stolen, be sure to report the incident so your carrier can deactivate services – prevent unwanted access to your apps, accounts and more. And keep up to date with mobile security warnings or app improvements for the best digital protection.