The personal finance applications allow you to keep track of your business expenses and ensure that you have enough money for the things you need in the long run. It also helps to keep you out of debt or to handle debt payments with a proper plan.
With growing technology and development in E-commerce, net banking or online payments have made it easier for people to carry out the money transfer smoothly.
However, it sometimes results in overspending our hard-earned money on things that aren’t needed or unnecessary. To control and track these expenses, a budgeting application is a handy, easy, inexpensive, and effective method.
According to a survey by Bankrate.com, 63% of smartphone users have at least one personal finance application on their device to manage their business finances. A good finance app takes away all the financial difficulties in business. It keeps the process of managing your business finances transparent and convenient.
Here are the 6 personal finance applications which can help you manage your business finance easily and effectively:
1. Mint
Mint, undoubtedly is one of the best application when it comes to the management of finances. The budgeting app syncs all your bank accounts tracks the incoming and the outgoing amount. This app also helps in organizing your budgeting plan along with tracking your bills and setting notifications so that you never get late in paying your bills. It also reports your credit card score after specific intervals on an ongoing basis and suggests tips so that you can strategize ways to boost your credit profile.
Along with being free of cost, mint syncs all your accounts whether it is your bank account, credit card account, and your brokerage or retirement savings account.
Unique features:
- Give alert when you are spending unnecessarily.
- Give weekly reports and notifies you when necessary.
Also, Read: How to check your business credit score for free
2. Acorns
Acorn aims at investing your money or spare change to help you prosper financially. It has a great feature that helps you in investing all the extra cash you have and in a portfolio created and managed by investment experts. It additionally has an application for shopping called Found Money that allows you to invest your money automatically in the brand from which you shop. This helps you in saving some extra cash every month.
Unique features:
- It helps in investing free of charge.
- Gives free ATM transactions across the US.
3. Wally
Wally is a mobile-based personal finance application that strictly focuses on budgeting. This application balances your income and expenses. It gives you a clear picture of the investment you have done. Another interesting feature of Wally is that it possesses it supports all foreign currencies. So if you are a travel freak and looking loved exploring, this application is a perfect pick for you.
Wally also offers extra services including receipt scanning ability that help you keep track of your important things. It notifies you when a bill is due and also when you have achieved a targeted goal.
Unique Features
- Balances your income and expense.
- Send alerts when a bill is due.
- Sets a financial goal and assists you in achieving it.
4. Pocket Guard
The pocket guard is another name in the best personal finance applications that allows you to manage savings from your regular spending. This application studies your financial debts or bills and recommends ways to curb those bills along with suggesting tips to pay down the debt. The app even tracks your expense records and keeps updating your transactions as and when they occur including the minor transactions. Following that, it sends you a snapshot of outgoing funds and suggests better strategies to save on taxes.
Pocket guard application is visually very appealing and has data charts that make it easier to map down your financial picture. However, it is not free and costs $3.99/ month and $34.99 per year.
Unique Features
- Create a personalized budget for you, based on your financial income, ongoing debt, and expenses.
- Plans your future financial goals.
5. Every Dollar
This personal financial application is hosted by financial guru Dave Ramsey. This app gives you a clear picture of where you stand financially and how you can improvise. It is a great app that helps you in creating a personalized monthly budget according to your expenses and savings. Since it is specifically targeted for customers, it allows setting up custom categories that is extremely useful for business.
Other features of Every dollar include bank-level security, tracking your transactions against your planned budget, and link your bank accounts for improved and faster monitoring. The application costs you $12.99 per year.
Unique Features
- Monitors your expenses.
- It helps in tracking your transactions against your budget.
6. You need a Budget (YNAB)
YNAB helps you build a customized budgeting plan for yourself taking into consideration your income. Using this application, each dollar of your income is put to work and is assigned a specific task, which may vary from focusing on repaying debts or being steered into living expenses. The application is fully compatible with all the devices and utilizes each dollar you earn. YNAB is free for 34 days trial and then it costs about $6.99 monthly
Unique Feature
- It helps in planning strategies to pay off your debts.
- Builds a customized budget for you.
Conclusion
If you need assistance in controlling your expense and getting your finances under control, these personal finance applications might be exactly what you are looking for. These apps are designed especially for budgeting, but they do have some additional unique features to offer. Try using an application to manage your business finances and notice the difference.