There’s something to be said for the act of sitting down with a banker or financial planner and pouring over statements and documents, working the numbers and setting goals. There’s also something to be said for modern technology and how it makes all aspects of daily life – including money management – easier. Not only that, but the rise in smartphone use and the subsequent popularity of mobile apps have put the power of personal finance management right in the palm of the iPhone user’s hand.
So in the interest of mobile money management, here are some of the best financial-planning apps currently available for iPhone.
Personal Capital – free
This mobile/desktop app is a full-service financial manager that comes equipped with a host of features. Users can manage a number of their accounts – credit, bank, investment, etc. – from a single interface and even receive investment advice. For example, Personal Capital offers portfolio analysis tools that provide real-time suggestions regarding users’ investments, which allow them to properly balance their portfolios. A paid, premium version of this app provides advice from a team of financial advisors tailored to the user’s accounts.
Balance – free
The idea of an app that makes the user do the bulk of the work may seem counterintuitive, but in the world of personal money management, it can be a great help. Balance is a straightforward app that allows users to update their bank balance in real time by entering transactions right after making them. This extends to bill paying and check depositing as well. By knowing exactly how much is in an account at any given time, users of this app can get a clear idea of just how much they spend on incidentals, such as coffee and dry cleaning, over time. Not only that, but having this specific info will help users to avoid bank overdraft fees.
Debtminder – $1.99
This app covers debt of all kinds: credit cards, student loans, car payment – you name it. Debtminder not only keeps track of this debt but also monitors how the user pays it off. The app offers personalized plans complete with color-coded graphics and charts.
BillTracker — $1.99
It goes without saying that even the most diligent and conscientious of bill payers out there experiences lapses from time to time. BillTracker provides a solid way in which users can manage their bills, ensuring that they never miss a payment again. The app tracks due dates, payment confirmation numbers and more. It also offers mobile alerts that remind users it is time to send off that check.
Freecreditscore.com — $14.99 per month
This option, based on the popular website, may have a hefty price tag, but the benefits it offers in terms of regular, real-time credit updates are often worth it. By tracking exactly how a later credit card payment affects a credit score, users can get instant data that should help them to adjust their practices and ultimately raise their score.
By having even one or two of these apps installed on one’s iPhone, those with an interest in personal money management can enjoy piece of mind regarding their finances. And some features, such as Personal Capital’s available team of financial advisors, help to turn the iPhone into the owner’s tiny personal money manager.
Category: Tips & Tricks