Last post we looked at Flipp, a handy grocery shopping app that lets you price match with ease. This week, we are going to look at another app that can help you save money, and stay on budget every month. Having a budget is a great way to track your spending. Watching what you spend is the best and easiest way to making sure you are staying on budget, but what is the best way to actually monitor your cash flow? The truth is any way that works for you is a good way! If you like to keep your receipts, and enter them all manually on an excel spreadsheet because it works for you, then keep doing that. Some banks (like Tangerine), will actually break down your spending when you log in to your online banking. This is great for those visual learners who like to see graphs and diagrams of where there money is going. If you have a few bank accounts, or different credit cards, and are a visual person, than a budgeting app that helps you keep everything organized in one place may be what you need.
Suggested App: Mint.
Mint is a super handy app that keeps all your financial information in one spot. You can link credit cards to your profile, or different bank accounts if you have more than one. The app automatically splits up your spending into different categories, which are completely customizable, to show you exactly where your money is going each month. It does this all automatically, so once you set a transaction on how you want it to appear in the future, it will do so every time that purchase is made. You can also set up bill reminders and bill due alerts, so your phone will remind you anytime you have money due. The app will also notify you if you are getting low on funds, or any unusual spending is happening. Basically, you will always be “in the know”, when it comes to your finances!
The customizable nature of the app helps you reach your savings goals easier. Seeing all your ATM fees for other banks in one spot may help you reconsider where you withdraw money the next time. You might be great at taking money out only from your own ATM, but occasionally go over budget in other areas. Mint will tell you right away if you have gone over your budget in any category during the month. Mint tracks your savings each month as well, so you can watch those accounts grow. The visual interface makes everything easy to understand, and the application is easy to use. Not only is the app easy to use, but it is safe, made by the makers of Quickbooks and Turbotax. With all your sensitive data at stake, it’s nice to know the company is used to dealing with such important information all the time.
Mint offers all of this free of charge with no commitment, and the ability to delete your account at any time. If you are a visual person and you have not been able to find an easy budgeting companion, Mint may be for you!
Are there any other budgeting apps out there you like? How do you keep track every month? We would love hear from you about your money savings tips!
Author: Adam Lee