Money management using pen and paper is a thing of the past. And in the 21st century, it’s even leaving the computer. In both small business and personal life, more and more are using smartphone apps to manage budgets, bills, debt, and expenses. Each of these applications works slightly differently, but they are all effective ways to manage one’s personal finances. All are easy to use and do not require professional knowledge of finances.
This is a free application that helps the user keep track of their spending, payment by payment. The user can receive text messages to their phone when bills need to be paid or accounts are almost overdrawn. Mint organizes individual expenses and uses that data to suggest ways the individual can save money. The user can program this app to track their financial goals and help meet them.
Billeo is an app that’s downloaded to the user’s browser and helps keep track of any online bill paying and shopping they do. The app includes four assistants – shopping, offers, bill paying, and password. These assistants collaborate to save receipts, keep track of the user’s billing history, and track their shopping habits online.
Rudder works by sending emails to the user to let them know when bills have to be paid and when their bank account is getting low. This is an easy-to-use app that informs the user what their new balance is after the bills have been paid and what they have in savings.
While Buxfer is similar to Mint, it’s an excellent tool for users who have a Facebook or Google account, because they can log into the service through those platforms. Buxfer is designed to help families manage money by tracking each person’s expenses and sending them a report that states what they have and what they spent. While the basic Buxfer program is free, users can upgrade the program for a small fee.
BillShrink is designed to help the user get out of debt. This application asks the user about how they use credit cards, their cell phone, and other utilities. It then takes the information provided and searches the Internet for better deals from companies that offer these services. When BillShrink tracks down a good deal, it e-mails it to the user.
MoneyTrackin is an application that is like Buxfer in the sense that multiple users in the same household can effectively manage the total household budget together. It allows roommates and family members to work together to stick to a budget by making it easy to understand the flow of money. Households can also setup web hosting and a site to manage budgets and even show friends where they saved the most.
A user that wants to try out Mvelopes can get a free trial version to see if it meets their needs. This application allows anyone with a bank account to pay their bills through the app by simply linking their account to the Mvelope program.