If your New Year’s resolution had anything to do with a) budgeting, b) keeping track of your spending or c) using your credit wisely, then now is the perfect time to app-ly yourself to your financial goals with the best money apps to keep your money tree evergreen.
by Anna McDougall, Money Maven
According to a report conducted by St George bank, 30% of respondents indicated they needed an account balance of between $500 and $2,500 in order to feel secure.
Not feeling so secure after the Christmas/ New Year blow-out? Check out these life-saving money apps to keep your spending on track, all year long:
St George has just released the MoneyMeter designed to enable customers to easily check the balance of their chosen account in a ‘gauge’ style format with a simple swipe of their iPhone’s touchscreen, it’s super convenient as you don’t need to even need to waste time logging in and out of the app.
So whatever amount you like to see to feel secure money-wise, MoneyMeter helps customers keep a close eye on their account. Smart and simple, just the way the less tech-savvy of us like it!
The iWallet for the iPhone is another effortless way to track your income and expenses – the two most important features of your financial health. So if your tired of seeing the disaster that is your balance at the end of every month, the iWallet will make you that much more conscious about your spending and your weekly income, so the number sin the app will eventually look picture perfect! And if you’re really wanting to eliminate your bad money habbits, take a look at iExpensesonline. Get guidance on improving financial habits and recommendations for better choices, plus it’s designed by financial advisors and offers tools to help you manage, monitor and improve your financial situation. The little financial advisor in your pocket.
For all you online shoppers out there, if your smart phone is the only way you can order your new season must-haves, PayPal Web, is the safest, most secure way to buy an item or transfer money to an individual. The app makes it convenient to send money on the go. So, while you’re bar hopping around the CBD and your friend grabs the taxi fare, send over your portion of the ride in seconds. Easy, safe and definite no-brainer, you’ll wonder how you ever did without PayPal Web.
With Mint.com (Web, Android, iPhone) you can get a good look at your overall finances whenever you like. Dubbed the eBay of personal finance software, you can hook up your checking accounts, savings accounts, credit cards, and investment accounts, and it will give you a comprehensive picture of your financial health outlook. Did we mention it’s free?
Debt Dog (iPhone) is your credit card purchases watch-dog that will enable you too see what an item will actually cost you if you purchase it with a credit card. No more wasting time doing the math! This calculator is at your fingertips and will definitely aid your saving along the way. Figure out the true cost of a purchase before you buy it on credit – you’ll realise the amount of times you have bought an item because it was on sale and by using your credit card to purchase it, it could end up costing you over the full priced amount of the item, if you if you didn’t pay off your credit card right away.
Before you descend into app-land, check out the tips from St George where you don’t need an app to keep your bank balance attractive!
1. Start with a budget: Set a realistic budget for the year ahead. Start by listing all of your incomings and outgoings to see how much you can spend and save each week. Take into consideration how much you need to set aside each month to pay bills, food and other expenses – like you next girly night out.
2. Keep a track of your spending: With so many great budgeting and banking apps as well as online tools out there, there’s no excuse why you can’t keep a close eye on your cash flow.
3. Use credit wisely: If you’re using your credit card to make purchases, it’s important you pay the balance in full each month to avoid incurring extra fees and charges.
4. Make your money work for you: Make sure you have a savings account that offers competitive interest rates to help you save faster. The more you save the more you earn – what more of an incentive do you need?
