by Rajveer Singh Rathore, our Microsoft specialist
There are so many tools available for tracking your finances online, that you may be challenged to figure out which would work best for you. You can leverage popular mobile apps to keep your spending and saving in check. Not only do these apps help you design better financial accountability, but they can also be fun to use! Here are some great financial tracking tools.
Mint (iOS & Android)
This is a great starting tool for users that are new to financial management. It’s also complex enough for chequebook-balancing pros.
The Mint Personal Finance app by Intuit has the best price – it’s free. Simply create a free profile at Intuit’s Mint website, and link your financial accounts.
Mint will automatically compile your spending into various charts and graphs, so you can see exactly how much money you’ve dedicated to daily expenses (according to the New York Times) such as food, gas, entertainment, and eating out. If you struggle with overspending, this app should help you rein in those urges.
You can also set custom budget goals to help you save for college or that next family vacation!
If you’re a fan of envelope cash budgeting, then check out this handy mobile app.
The top of the screen shows your total balance, and you assign every single penny to a category, such as: – clothing; automobile maintenance; bills; groceries; or rent.
If actual envelopes were taking up too much space in your wallet or getting misplaced in your office, you can now log the amounts in each envelope by plugging in balances via your mobile app.
Your envelopes will serve as a roadmap for your finances over the pay period.
Another awesome thing about iEnvelopes is that it’s connected to a cloud server, so you can sync your budgets across devices.
Official banking apps
Many people overlook their bank’s official apps. These electronic resources can be immensely helpful when you need to get a quick idea of your current balance when you’re out shopping.
Your bank’s official app will allow you to log in securely and check your balance, so you can avoid overdrafts and make sure when your paycheck has arrived.
Some of these apps even include mobile checking deposits, which allow you simply to snap a photo of a check and add it to your account!
This eliminates the inconvenience of having to visit a bank or ATM to drop off a check.
But if you have to go in person, most banking apps (according to the Economist) will also have a handy directory of nearby ATMs and banking centres, along with business hours for each location.
The next time you need to visit a physical bank, you can consult your mobile app for the fastest route.
Credit Karma (iOS & Android)
Understanding your current credit score (according to Savor) can start you moving toward improving it.
Credit scores are used to measure your financial responsibility, especially when you’re trying to rent an apartment, buy a home, or take out a loan.
Rather than checking your credit score only once a year, the free Credit Karma app can help you monitor its current status day by day.
This app also provides consumers with handy tips on how to improve their credit score so they can meet their financial goals in life.
Taking control of your current financial situation with technology can give you the push you need to move forward with paying off debts and saving toward the future.
Managing bill payments, getting a snapshot of your spending, and raising your credit score can all be accomplished with the above mobile apps.
Go ahead and download these so you can test them out the next time you get a chance.
Rajveer Singh Rathore is a Microsoft consultant working with who worked in enterprise IT services and solutions provider. He is a blogger, a reader and a social media enthusiast who loves to observe and share insights about Microsoft technologies. You can connect with Rajveer Singh Rathore on Twitter as @hearthackersss.