3 Best Apps for Managing Your Money

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Many people find themselves in debt because they don’t manage their money well. There is a negative stigma on debt, but it is often the result of a series of small mistakes such as forgetting to pay off a credit card bill, not regularly checking bank account balances, not moving any money into savings or forgetting to make student loan payments and getting behind.

Luckily, there’s an app for that.

You can find an app for almost anything these days—editing photos, meeting new people, tracking your steps, booking a flight and even figuring out what song is playing on the radio. Take a look at these top user-rated apps for managing your money conveniently from your smartphone!

  1. Mint

Often touted as one of the best financial apps available, Mint is a collection of different apps for managing money. For example, Mint Bills lets you set up bill payments directly from your phone, while Mint Personal Finance keeps a log of all of your recent transactions and allows you to create and track budgets and credit scores.

You can manage your earnings, spending and savings via your bank account, mutual funds, 401(k) and/or IRA. Mint will alert you if you go over budget, overdraw your bank account or if an unauthorized payment was made using your debit or credit card (to help prevent fraudulent purchases).

Mint is available for iOS, Android and Windows, and it is free to download!

  1. Expensify

Expensify has both an app and web interface, so you can check your information from any of your devices. It is rated high in easy navigation and usability and offers four main features: SmartScan, Add Expense, Track Time and Track Distance.

The SmartScan feature allows you to take pictures and categorize your receipts. Expensify can use these receipts to generate reports and track your spending habits. This feature is mirrored in the Add Expense button, which allows manual entry.

  1. HealPay Reminders

healpayLast month, a Michigan-based company called HealPay released an app unique to their innovative bill pay solution—SettlementApp. HealPay’s “reminders” allow consumers to opt-in and create bill reminders via SMS and e-mail. Reminders allows for custom messaging, real-time delivery and unlimited reminders. This app, in conjunction with their online SettlementApp, reduces overhead and automates operations for companies that receive routine, reoccurring payments while reminding their consumers at no cost—a win-win for all parties. Learn more at http://healpay.com.

With today’s technological advances and a free app for managing nearly every aspect of your life, do your research and take advantage of the tools that can help you rest well knowing nothing has been forgotten!

How to Choose the Right Credit Card for You

Credit Card Reform Legislation Would Tighten Rules On Rates And FeesMany people fall into debt as the result of charging too much to their credit card(s). In general, credit cards should be used to buy things you need or want to make payments on—not to buy things you want but can’t afford.

While some people choose not to have one at all, having a credit card is almost a necessity in today’s economic environment. Many young people apply for credit cards to begin building credit in the hopes of one day securing a loan to buy a house, car or a even a small business. Having a credit card and using it responsibly are great ways to manage your money, but with so many to choose from, how do you know which is the right fit for you?

Check out these tips for choosing the right credit card!

1. Check your credit score. When choosing a credit card, you first need to see which ones are available to you. If you have a low credit score, it may be the ones with sky-high interest rates and baseline spending limits due to your credit history. While making purchase and paying them off with a credit card will help boost your credit score, you may want to consider other ways to improve your credit.

2. Don’t get blinded by rewards. In the colorful world of marketing, there are hundreds of impressive commercials about travel rewards and cash back. However, be sure to read the fine print. Advertisements fail to mention important information like annual fees, minimum payment requirements, penalties and reward caps.

3. Consider your lifestyle. There are several specialty credit cards that are geared toward specific groups like college students and small business owners. If you travel a lot for business, check for cards with point systems that reward you for hotel stays, airfare and car rentals. If you are a stay-at-home mom or dad, consider cards that allow you to earn points on gas and groceries.

No matter which card you choose, make sure you pay your bill on time to avoid penalties and high interest rates.