What I love most about living in this day-and-age is technology has the power to simplify many things in our lives.
What I love most about living in this day-and-age is technology has the power to simplify many things in our lives. One of those is managing debt. There are hundreds of apps for budgeting and debt management. Here are a few of my favorites.
Mint and Moneylink (found in WCCU Online Branch. These are budgeting tools that help track your spending then use that information to form a proper budget. Ultimately you’ll understand where all your money goes.. These apps automate the process of gathering all your financial information and placing it into categories. This apps sync right up with you accounts uploaded the data right to Mint or Moneylink. Once you have a budget and are tracking your spending you can put a plan together to pay down your debt.
PocketGuard – Like the others above, app will track all your spending and break it down into categories, but it also allows you put together spending or saving goals. Then it will track your progress towards your goal as the month goes on.
Clarity Money – Budget Planner is another very popular app. It has over 16,000 reviews in the apple app store and has an average of 4.7/5. This app is similar to the others and it helps track spending and categories. A cool unique feature is that it categorizes your subscriptions and gives you easy view to see how much they are and how often they are charged.
The best part of all… these apps are free! No matter the tool or app you use, the key to success is coming up with a plan and sticking to it. Unfortunately, these apps can’t physically take the credit card out of your hand! They simply track your spending and help you stick to goal.
The success of your plan is in your hands, and you have to separate your wants and needs. It’s surprising to see how much you spent on going out to eat last month or how little impact making the minimum payment on a credit card is having on the balance. So, being aware of your spending and understand the big picture of where your money goes is the key to success with these powerful apps.