The following is a guest post contributed by Roger Elmore, who writes on the topics of hospitality management schools. He welcomes your comments at his email Id: rogerelmore24 @gmail.com.
If you are like me, keeping track of your spending habits does not come easily. In between trying to have a career and a personal life it’s hard to find the time to sit down and analyze exactly where your money is going each month. Luckily, iPhone users have the ability to manage their money no matter where they happen to be. Check out these apps that can assist you with your finances, and if you are trying to save money don’t worry, these apps won’t cost you a thing.
Mint
This personal finance tool literally does all of the work for you, all you have to do is create an anonymous account on the Mint.com site and add information about your bank, credit card, loan, and investment accounts.
Each time you log in, Mint automatically updates all of your accounts so you always know where you stand. Users can utilize the budget tools which allow them to set monthly spending limits for anything from bills to entertainment expenses.
You can download the Mint app for the iPhone so that check the balances on your accounts no matter where you are. Need to check how much you have left to spend before you decide to go to that expensive restaurant tonight? Go to the overview screen, where you can access each of your budgets and view transactions within each category.
Mint also alerts you on activity on your accounts so that you will always know when you have exceeded a budget, received a finance charge, or gone over your credit limit.
Budget Tool
This app created by Consolidated Credit Counseling Services helps users manage their money by keeping track of overall expenses. Budget Tool is a hassle-free way to way organize your budgets and stay on top of your spending.
Simply add your transactions to one of six common spending categories to make sure that you are staying within your budget. This app also helps users set realistic goals by supplying them with a recommended budget based on their income, as well as providing tips on how to reduce spending and save money. To make sure you are living within your means, you can compare your current budget to the recommended one and see where you might need to cut back on what you buy.
If you need more of a visual idea of how you are managing money, you can view graphs and pie charts that break down spending by categories. Prefer to use a computer to view and keep track of your finances? This app allows you to export spreadsheet compatible reports simply through sending an e-mail.
Pageonce Personal Finance
This app gives users the ability to track and manage their online accounts no matter where they are. Rather than logging into all of your financial accounts separately, this one-stop app allows you to view all of them in one place.
To get started users simply have to add their login information for their bank, credit card, investment portfolios, and shopping accounts. This app helps you keep track of your finances and budget your money by allowing you to view account balances, transactions, and statuses.
Pageonce Personal Finance also has bill management tools that give users the ability to view accounts for bills and utilities such as cell phone, insurance, cable, electricity, gas, and Internet. Rather than going through piles of mail you can save yourself some time and view billing statements in Pageonce. You also never have to miss a payment as you can check bill due dates and expiration dates right from your phone.
More than just a finance tool this app also lets you keep track of your frequent flier miles, travel itineraries, mobile minutes, and text and data usage.
Crystal’s Questions:
Do any of you have an iPhone (I don’t)? If so, have you used these apps yet?
If I had a smart phone, I’d want that read-a-barcode app that tells you where the item is being sold the cheapest…easy reasearch baby!
Okay, I don’t have an i-phone but I did see the coolest app at my tag sale.
A book dealer essentially had an app that bar code scanned books and he could look up what the book was selling for on Amazon.com. He could predict his profit before even spending a dime.
In the past he would just have to take risks, but now he knows exactly the market value of things as he’s shopping.
If I ever got into the second hand business, I’m pretty sure I’d have to get an i-phone or something similar.
I still don’t have an iphone, and I don’t know if I will ever get one. However, all of these apps do sound very intriguing. My son has an i-touch, maybe I will ‘borrow’ his to check some of this stuff out!
Yes, I have an iPhone (and an iPhone app too — Pay Off Debt). Out of those listed above, I’ve given Mint a try.
@Sandy L, I’ve been considering getting a smart phone just for that barcode app. Plus, being able to check and reply to my BFS email anywhere would be nice…
@Everyday Tips, hehehe…tell us what you think!
@Jackie, did you like Mint? Have you tried the barcode app that Sandy and I mentioned?
I have a smartphone, however, it’s a Blackberry. Can’t wait to get a Droid though to test out some of these apps!
I have a new Droid X, and have just downloaded a few apps. Haven’t done Mint yet, but might give it a try. The few apps I have downloaded have been more lifestyle-type apps.
Speaking of barcodes, I did download one app that helps with nutrition counts (calorie, fat, carbs, etc). If you scan a barcode on a food package, the nutritional information populates on your phone. You can also look up different foods (inlcuding some restaurant meals) or manually enter them. Ultimately, this allows you to monitor on a realtime basis your nutritional intake, as well as being able to longitudinally track it.
The barcode part is cool….just scan, and presto! The data is in your phone.
Surprising how many carbs I was consuming, as well as total calories. Good information to work with.
@Jenna, my friends have Droids and love ‘em. Hubby is trying to talk me into it…
@Squirrelers, ooohhh, I like that! If I ever get a smart phone, that would be one of my first downloads…
I have an iphone, gave it up for a pre-paid service and now use it like a itouch. WHEN I had it I played around with a few different budgeting apps. I never found one that stuck. What has stuck is this small piece of paper and a pen I keep in my wallet. When I buy something I quickly write it down. I’m not being sarcastic! I love technology and am just laughing at myself for how tied I am to pen and paper!
@Molly, I completely understand. A couple of months ago, I thought I was in the market for an electronic scheduler – I even posted about finding one since a few stores I tried didn’t have them. I ended up buying a $2.97 paper planner and have been happy with it ever since.
I use YNAB as my budgeting software, so it was a no-brainer for me to get the YNAB app.
It allows me to enter transactions as I incur them and then sync them up to my computer over wifi when I get back home.
An added bonus is that I have access to my budget as well!
There is A LOT more to the iPhone and saving money than just Mint. I would list them all out, but I have already done that: http://www.27andfrugal.com/2009/11/20/the-iphone-more-frugal-than-it-looks
There are a billion coupon apps, that grab your location and tell you local stores/restaurants that are offering deals/coupons right now.
The AAA app does the same thing and connects you immediately to a representative.
CardStar keeps all your discount cards in order.
AT&T app is for easy usage tracking.
Bank apps for easy financial tracking.
Yelp app to check reviews before wasting your money at a restaurant.
BandsInTown/FreeBooze apps tells you what cheap events are going on in your area.
Notepad app so you never go grocery shopping without a list!
Like Paul I use the YNAB iPhone app which I LOVE! It does however cost money and you are required to have the desktop version as well as the iPhone app. The app is $10 and the full software is $60. That being said, they are totally worth it for keeping track of your budget. I would have gladly paid more.
For you Android users they are in the process of making a YNAB app for Android as well.
@Paul, YNAB would be good too! Glad you like it.
@leslie, wow, that is quite a list! I will have to look at that again if I ever have app access, lol.
I know a few people I need to tell about that BandsinTown/Free Booze app…
@Rob, I am totally telling my friend Desiree about the YNAB for Droid when its ready. Thanks!
Would experimentally try out Mint.com for the record of my financial transactions.
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