Apply Know-How To Your Savings With A Budgeting App
Everyone knows the absolute best way to get rich has nothing to do with schemes or shrewd investments or dumb luck. Although all of those things can sometimes lead to wealth, the absolute guaranteed way is regular contributions into compound interest accounts. Over time the money builds on itself.
That’s all well and good if you have money to contribute to those accounts but what happens when you can’t manage to save your money? When there just never seems to be anything left at the end of the month to put away?
You know you make enough to have a little something extra at the end of every month, but somehow or other that extra money evaporates away into – who knows what!
Some people are organized and disciplined enough to create and stick to a budget using no more than a pen and paper or spread sheet on their computer. Others of us need a little more help. That’s where budgeting apps come in. We’ve sourced a few for you to check out:
Mint is the go-to app for anyone new to budgeting. The app brings all of a user’s bills and accounts together, including loans, credit accounts, bank accounts and creates budgets tailored to the user.
Mint features reminders for upcoming bills and warnings when funds are low. It also provides access to unlimited free credit scores – along with tips to improve it. By classifying the budget into categories like “Shopping” and “Entertainment” users can determine if it’s possible to save by cutting back in specific areas of their lives.
According the website of YNAP or You Need a Budget, the app will help teach you how to manage your money and get ahead. Their motto is, “Give every dollar a job.” The app is all about prioritizing the allotment of funds, then creating a plan to meet those priorities and following the plan. It’s especially great for helping people reach specific financial goals.
The idea behind PocketGuard is to help you track your spending by linking credit cards, bank accounts, investments and loans in one place to see the big picture. By updating and categorizing your transactions as they happen, the app enables you to understand where your money is going and discover opportunities to save. PocketGaurd helps you build a personalized budget based on your income, bills and goals.
Once you’ve connected all your financial accounts to the app, Albert builds a unique budget based on your income, spending habits and goals and automates your finances. It notifies you when you are overpaying and helps you cut costs.
Users can text The Albert Genius anytime (a team of human financial experts). The geniuses alert you to savings you’re missing, identify bills you’re overpaying, help you pay down debt faster and custom-tailor a financial plan for you. The app analyzes your income and spending every day and sets aside small amounts of money you can save safely.
Comparing income to expenses, Wally helps users understand where their money goes and set and achieve goals by keeping track of daily details. To do that, Wally gives users a 360º view of their money, what goes in, what goes out, and what has been saved. The app is free and available for both iPhone and android users.
For people who want to try envelope budgeting without a paper envelope, Goodbudget is the answer. Each month users earmark their money for specific purposes and distribute it into virtual envelopes like groceries, accommodation, utilities etc. Throughout the month they transfer money from the envelope to its designated purpose. It helps the user see exactly where their money is going every month. The app can be shared with partners across different platforms so it’s great for couples who want to pool resources toward designated expenses.
Once you have your budget under control you have extra money at the end of every month, you can think about investing it.
For more helpful articles on saving and repairing credit, check out our other blogs. Gold West Financial is your source for debt resolution solutions -- bad credit OK. Ask us how we can help by giving us a call at (855) 200-0586 or apply online today!