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Amongst the many tasks of being a wife and a mother, one of the most challenging is managing the household cash flow. Research presented by Kelton Global revealed that 81% of Americans learned financial wisdom from their mothers, including how to budget for bills and groceries. Although, some mothers still have difficulty in organizing their budget.
Thankfully, various technologies, particularly mobile devices, have made it easier to manage household income and expenses easily. There are apps that are specifically made to assist you in tracking your family’s expenses, and even to help you budget accordingly. Mobile technologies have become an indispensable tool for everyone. In fact, its ownership and usage have surpassed even the once popular desktop computers. Gaming Realms, developer of mobile slot platform, PocketFruity, said total data usage has grown to 70% among the world’s population due to the proliferation of 4G data connection. Thus, it’s not surprising that many moms out there have started maximizing their smartphones to help with their budgeting.
Undoubtedly, there are specific apps that excel in this category. In this post, we’ll highlight the best money management mobile apps you must install on your smartphone if you want to keep on top of your finances.
1. You Need a Budget (YNAB) It can help you track your daily spending, set up a budget for food, utilities, etc. YNAB is a bit of a self-help tool, as you need to manually record how much you spend on each category. It will also help you get a better grasp on where your money goes. The application cost $60 to use all its premium features, but first time users get to try it for free. Download: https://www.youneedabudget.com/
2. Digit.co Although most of us understand the importance of having an emergency fund or a savings account, not everyone takes the time to set one up. Digit.co is a free application that assists you in saving more money without realizing it. The app links to your Digit savings account to your checking account, so it can transfer a small amount of money from checkings to savings. Digit.co is very smart as it “learns” your spending habits and advises you accordingly to avoid accidentally overdrawing money from your account. Download: https://digit.co/
3. Mint Bills Formerly known as Check, Mint Bills helps users track all their financial information from a single dashboard. Its best feature is the ability to pay your bills right through the app itself. However, it’s best to pay ahead to avoid any additional fees because of any delays. Paying bills through the app also come with a convenience fee through your credit card. If you are a previous Mint.com member, then you will have to sign up separately to use the Mint Bils app and there’s no way to transfer information, unfortunately. Download: https://bills.mint.com/