In order to successfully manage your finances, you must understand your cash
flow. “How much is coming in?” and “Where is it going?” are the two most
important questions you should be asking yourself.
Whether you are making a lot of money or just getting by, it's very important to
track your income and your expenses. Now, I know that can be difficult with your
busy life. There are just not enough hours in a day!
Thanks to technology, there are many apps that help you keep an eye on your bank
balance, track your spending, and analyze your budgeting habits. Some apps help
you make better financial decisions, personalized to your bank accounts.
The best part of these apps is that you can access your finances at any time at any
place. You can open it on your mobile device on the way to work in the morning,
or in that little bit of free time once you get home.
Not everyone is born with good money management skills. We all need a helping
hand to guide us and make the process of money management a lot easier. That is
why we’ve brought to you a list of all the best money management tools you
should consider for financial success.
1. The Money Manager
There are so many things that we do wrong when managing money. The biggest
problem is that most individuals and small business owners have no idea where to
start. The problem is so relatable that we haven’t seen anyone who didn’t have it
To solve this problem, we needed a tool that could simplify money management
so anyone could do it. Keeping that in mind, we designed the Money Manager.
With the Money Manager, you can simply list down your income and expected
expenses. Then add in your actual expenses. The tool will calculate your net
Net Income= (Total Income- Expenses)
P.S. there is one problem though. The first month you use the Money Manager,
you will not feel so good. The results will be an eye-opener and will urge you to
make healthy changes in your financial life.
2. YNAB (You Need A Budget)
YNAB is an easy-to-use budgeting software. A lot of beginners tend to appreciate
the software’s familiar spreadsheet layout which makes it easy to understand.
Making a budget can take just a few minutes. However, you have to manually link
your accounts to YNAB every month, which takes a few minutes, but you won't
have to provide passwords and sensitive information that can be compromised.
Also, YNAB offers a 34-Day Free Trial for you to test out the software and decide
if it's for you or not.
If you’re looking for a free budget tool that you can link to your accounts, Mint is
the way to go. The app also has a feature that reminds you when bills are due. In
fact, you can even pay the bills from the app itself.
Budgeting is the stronger aspect of Mint and it helps you create several detailed
budgets, according to different categories.
4. Personal Capital
Personal Capital is one of the best money management apps out there. It lets you
track your budget while including information from your investment accounts.
Having your investments and monthly budget in the same place gives you a clearer
picture of your financial status. The interface and visuals are easy to see on the
desktop, laptop, tablet, or even a mobile phone.
The app provides easy to read graphs of your investments which can help you
manage your portfolio efficiently. One of the coolest features is that you can get
professional help at any time if you feel it is getting difficult to manage by
Acorns helps you make money from the little bit of change you have left. You can
start investing with virtually no effect. You just need to set it up, and you’re all set.
Acorns offers some features that can make your monthly transactions a lot easier.
By setting up your recurring withdrawals, you can save plenty of time and let your
app run your finances.