By Nick Thomas*, for Chiprang.com Money management is not something you wake up one day and are proficient at, it is a skill that takes t...
By Nick Thomas*, for Chiprang.com
Money management is not something you wake up one day and are proficient at, it is a skill that takes time and practice to acquire. The temptation to spend each moment you get the opportunity is overwhelming. Every item in the stores seems to be calling out to you and then there are those that you feel were designed for you.
Many individuals struggle with managing their funds and a good number live from paycheck to paycheck. If you were to stall their pay for just two days, they would be stranded and the credit bills would come calling.
A year ago, I was at a horrible place in my finances but then a light shone at the end of the tunnel. That light was the illumination from my smartphone. Financial applications are shifting from the generalized mobile banking field to apps that are more personal. These applications focus on you, your needs and what you face on a daily basis.
In the similar manner you use that nifty application to schedule your morning jog, let these applications make your finances a piece of cake as you sit back and enjoy the icing.
1. iExpense Online
The disease troubling your financial health is not a major condition but the little recurring flu in the name of bad habits. This financial app acts like a personal financial coach. Having been designed by financial professionals, it offers the ultimate advice
It has tools to help you budget, make plans, create targets and spend wisely. It prioritizes the named targets of saving and spending in order of importance keeping you away from the wrong decisions. Although it takes some time to get in your entries, it is a powerful tool.
2. Saving Goals
One of the pillars of money management is saving and investing. The best way to save is to have a goal in mind and place a timeline to the goal. This is what Saving Goals do for you by creating a saving schedule. All you need to do is enter the date of the goal and the cost of the item and it will create a manageable schedule for you to follow.
3. Money Smart
It is not uncommon for you to be shocked upon being told you have exceed your limit on a credit card or you have no money in an account you were sure was full of cash just the other day. Such ‘shocks’ arise out of a lack of tracking your spending and you end up using more than planned.
Money Smart presents to you, your cash flow in a visual manner giving you a better understanding of your money. It provides you with charts, graphs and daily statistics. Sometimes we just need the facts in loud colors and visual signs to embrace the truth.
Many of us have several bank accounts and each for a specific purpose. The challenge is keeping track with each and its purpose. This application does the tracking for you. It allows you to keep an eye on all your accounts by alerting you about your money. Each account has an icon and there are color codes relative to the health of each account.
5. Page Once
This is a relatively new application but its popularity shows its efficiency. Many, me included, love this application because it can perform several transactions. It gives balance updates, bill payments and organizes your financials automatically. It allows you to keep up with your investments whilst giving you real time information. Its only weakness is the lack of integration with PayPal but otherwise it is a great application.
Most of these applications have a free trial version. You can get one as you choose what to use on your phone. Test a few and at least settle for about three. The main thing is to monitor your expenses and your income as this is the balance sheet that many do not know how to draw. With time, you will find you have extra money in your pocket to invest and achieving life’s financial goals will be much easier.
In addition, if you love the adverts, they give your numerous opportunities to find out about new deals and offers in the world of ecommerce.
About the author: Nick Thomas is a finance blogger with a leading Australian Debt Consolidation company debtconsolidation.com.au. Nick is an voracious reader and loves to write posts to help people manage their finances better.