Money is a sensitive issue. Make as much as you can, spend as little as possible. That’s what most financial experts advise. But like you’re about to find out, there is much more to money and how to manage it than this advice.

Emergencies crop up, or bad habits like impulse buying resurface. Before you know it, you have no money left in your account. This strikes you as strange, given that you earn much more than your financially stable friends do. So how come you struggle with money? You guessed it right. You simply have bad spending habits.

That’s precisely where personal finance software come into the picture. But how in the first place do you get the best personal finance app? And what are the benefits of using these applications? If you are serious about your financial goals and want to increase your net worth read on to learn more.

Tracking Your Money

What is your Net Worth? Know where your money is, how it moves, what are your expenses, how many accounts and credit cards you have, and what type of accounts. This is the first step towards financial freedom. It is also the main reason why you should get a reliable personal finance application. Imagine this scenario. You are a young working executive with a good job. That’s not all. You have a few businesses you run on the side. In short, you have two or three streams of income. How else do you keep things afloat?

How do you know which business rakes in more than the other? If you’re busy, juggling your transactions can be hard. A decade or two ago, you would probably hire a personal finance assistant. That’s not the case anymore.

Simply get the best personal finance app to help you track your expenses, transactions and account balances as you focus on other things. The app will ease your workload by as much as 50%. More importantly, it will put you in full control of your money.

Focusing On What Matters

Always remember that the main modules of a useful personal finance application are the easy categorization of expenses and income, synchronization of transactions with your credit cards, financial accounts tracking, investment analysis and creation of tax related reports.

All these aspects matter to a great extent for anyone who wishes to control his or her finances. So if for one reason or another, you come across an application that does not have these features, skip it for the next one.

Choosing the Best Personal Finance App

This should be easy if you are tech savvy because then you would know which app is seamless with perks like the ease of use just but looking at one. What happens though when you don’t know anything about applications or even money management? It is simple. Be on the lookout for the following features.

Ease of Use

The last thing you want to struggle with is a personal finance application when you’re already struggling to manage your money. You really have no choice here but to go for an app that makes things easy for you. With that in mind, be on the lookout for features like the loan reminder.

The app you go for should be able to help you compare loans from your desired financial institutions. It should then automatically calculate the principal as well as interest payments. Be sure also to find out if your choice of the app has a reconcile feature. The app should remember the last reconcile date.

Monthly comparison is yet another critical feature of a reliable and efficient personal finance application. Your app should make it easy for you to compare reports and amounts of your spending in a spreadsheet-like view each month or where possible, each week.

Mobile Device Integration

The concept of “an application for what you need when you need it” applies here. In simple words, you should have access to your application anytime you need it wherever you are. The best personal finance apps will provide this.

This is especially the case where you use different mobile devices to access your application. Your application should integrate with all the different operating systems you use like Android and iOS.

Recurring Payments

Choosing The Best Personal Finance App To Suit Your Requirements

This is precisely where bills come in. The best personal finance app today boasts features such as this. That is, they help you manage your bills. They include ‘timesaver’ features that remind users when bills are due.

Some can merge different accounts from different banks and summarize your spending habits in a spreadsheet. They then monitor what you save in relation to what you spend and notify you when you exceed the limits.

Security

This is by far the most essential feature in any budget app. Make no mistake here. The fact that your app is SSL encrypted is not a 100% guarantee that your security is foolproof. Do your homework and read the privacy policy from the company that developed your application. You do not want your data shared among third parties without your consent, so, by all means, be frugal with your data. Go for an application that guarantees bank-level security.

Financial Goal Trackers

You’ll be surprised how easy some personal finance applications make it for you to clear your credit card debts. Note though that this is a feature available in specific apps. With that in mind, go for an application that can help you create new goals and objectives like paying off your credit card. Each payment should reflect into your monthly budgeting goals.

Use Online Reviews to find the Best Personal Finance AppNever underestimate the power of reviews when looking for the best personal finance app. Go through online reviews to find out what current and previous users of your desired app have to say. Remember, reviews stand out as reliable mainly because they come from “first-hand experiences.”

When it comes to your money and anything that helps you manage it, you have no choice but to go for the very best. Alternatively, ask around for referrals. Reach out to anyone within your social circles and ask if they know the best personal finance app you can use. With the proper action plan and the right tools you will see your net worth increase faster than you could ever imagine.

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Roy Jackspn

I live off my retirement check
It was easy intol taces on property went sky high out the roof. House payment went to 465. And electric hit 450 with Georgia and the city raise its share to 100 and then my name was stolen and now I have to pay for a wreak she had my insurance went to 180 a month which add up my check leaving nothing left. For me it by god grass there is a food bank or I would go hugry.

Francis Ford

I live off my retirement government check to.

Gary Middleton

Sounds like my kind of luck.

Jean Mara Duterne

I am so glad you send me this,I want to know how to make money.

Isabella Maione

Thanks for all the information about working and running a business, I enjoyed reading all of it,

Pedro A Castillo

Thanks, this is what I needed. Thank God it was not JUNK mail..

Mihara M Daniels

Thankgod

Raymond Forrester

Where to find apps listed?

Brian Haske

Hey thanks for the confirmation about this information I just got on my phone.

Denielle

Please contact me I’m very interested I have 2 kids in college and 1 going next year I wanna give them the best start to financial freedom. I don’t want them going through what I go through

Jerry

Jerry
Thanks Tim looking forward to using your advice with personal planning
Sound like some good suggestion

Daniel Marco

Well it is so far over my head I do not know what to do first my biggest problem is that I can’t read very well

Roger

Need help managing money any referrals

Roger

Need referrals good article

charles Jackiouson

Thanks, ill be thanking anoutit.

Daniel Campbell

I got bill due right now and cant pay them what do you suggest

Rocio TorresLupian

Hola Tim Gracias por su consejos! Yo tengo un negocio. Y se trata aserca de entretenimiemto Yo soy musico y tengo mi grupo ambien cuento con targetas de representacion lo que no se es como aclientar mas mi numero y mi grupo para tener mas clientes y ovio mas trabajo. Que consejo puede usted. Darme .
Mis mejores deseos.
Rocio Torres. L

Suzanne Stanford

Excellent! This is important info. Thank you, Tim.

Jakleen Shamoon Barcham

I want to get a loan

Roger Workman

Thanks for the information!!

Daniel Simmons

Hi, thanks for the information ,but My seizures are bad and have to watch.

Robin Luarks

I am in need of financial services NOW

Robin Luarks

I am living off of less than $ 420 each month. I need some help here in Topeka KS.

Mollie Crabtree

Not in the market

Bejae Addo

Happy Thanksgiving

Emma G Dorbor

Thank for the information I appreciate it, now know what to do if anything happens.

Toni Robinson

What I want to learn how to invest an to lean how to go back to school we’re me an families an sons can open up businesses togetherness

Glenda Berlin

My problem is I’m only trying to live on SS. I make 1425.00 monthly. I worked 46 years,saved every dime I could. My RA got so bad I retired in 2008 right before the recession hit. I lost over half of my 401k and it’s been downhill ever since. I tried to work part-time, but either to old or because I had to take a pain pill for RA before I go to bed, I know how to manage money, but I don’t have any. Everything in my house is 40 years old, including my underwear. Since I worked. I… Read more »