I literally have my smart phone with me 24/7. Even though they have only been in existence in its current form for about 5 years, I can’t imagine life without it! Regardless of whether this is good or not, it certainly has made life easier in many cases. Once a week or so, I go either on iTunes or Google Play to check out the latest apps. I am looking for apps that are user friendly, have a great design, is compatible with other apps or programs that I use, and of course are useful.
Since I am in the finance/entrepreneur industry, advise many clients, and also have to stay on top of my own convoluted finances, having good finance apps is essential. In looking for the best mobile finance apps, I want to make sure it is easy to use, is secure, can offer sound advice, help with managing money, investments, budgets, bill-paying, and any financial matter by just looking at your smartphone.
One good thing is that with modern technology, in most cases you can download your financial data in real-time from your financial institutions: banks, investment firms, lenders, credit cards, and other bills. This is much easier than having to record every transaction and activity in a ledger. My favorite apps do all this and more! You can go to iTunes or Google Play to download these apps.
Budgeting and Bills
Mint – Free. This free app offers a comprehensive look all your account balances in real-time (if connected to the internet). It automatically categorizes your transactions, alerts you when you’re about to go over your budget, and lets you opt-in to push notifications about bills. It is quick and one of the easiest ways to track all your accounts on the go. You can also sync with the web version (mint.com). It adds depth to the app with the ability to move money between accounts and create detailed spending forecasts.
Check – Free. This free app (formerly Pageonce) helps keep track of your bills and you can pay them from your mobile device. Those mobile payment features include not just major service providers, but also small businesses and individual proprietors. It’s a simple app that doesn’t offer a ton of features, but it does online bill-pay as well as anyone. This is the app to get to save you from paying any more late fees.
Manilla – Free. The Manilla apps show you all of your bills and accounts in one clean dashboard, making it easier and more convenient to know exactly where you stand financially. You can view all of your account documents from your phone, and Manilla will remind you via text or email when your bills are due and when your Groupons, LivingSocial vouchers, and travel points and miles are about to expire.
Credit Karma – Free. This app gives you your updated credit score and free credit monitoring services. It can notify you of any changes to your credit report, tell you what factors influence your score, and best of all, it is free. There are no monthly memberships!
Financial Accounts
Your Personal Bank App – Free for most. Every bank nowadays has an app for their clients. I use USAA, Bank of America, and Central Pacific Bank. I don’t need to be in front of a banker or desktop computer to check balances, I can do it anytime and anywhere with an internet connection. In addition, you can find most auto insurance apps to download.
Your Personal Credit Card App – Free for most. The same thing goes with your credit cards. If not on your bank app, you can download credit companies such as Chase, Citi, Amex, Capital One, and others. It is also good to check your balances here. Like my bank account, I actually have alerts and reminders that send me a text every time there is a transaction above a certain amount and a balance inquiry every two weeks.
PayPal – Free. If you have PayPal account, use the app to keep track of it and send or receive money through it. Paying someone your share of the dinner bill works simply and quickly with this app. The PayPal mobile app does have one other intriguing capability, if accepted, you can actually use it to buy goods and services from PayPal merchants.
Square – Free but need to pay transaction costs. This app with the reader or without it can accept credit cards and run a business anywhere you are at. You can process Visa, MasterCard, Discover and American Express, pay just 2.75% per swipe, and access your funds in 1-2 business days. There are no monthly fees, commitments, or surprises.
Dwolla – Free but need to pay transaction costs. This is another way to transfer money. You can use facebook, twitter, email or text to send or receive money through dwolla. The good thing is that there are no percentages, no hidden fees, and it is only 25 cents per transaction or free for transactions $10 or less. The money is in your account a few days.
Investment Tools
Financial Calculators – Free. There are quite a few out there, I use one created by Bishinews. The bottom line is that it has pretty much every calculator that I need, from Time-Value of Money, Compound Interest, Auto and Home Loans, Retirement, Refinance, Tips, Currency Converter, and much more. This is a great tool to help you make better financial decisions. You can also click here for web-based versions.
Bloomberg – Free but has an option for a subscription. Bloomberg is one of the best business and finance news apps. It has great news coverage along with easy-to-understand charts and graphs that illustrate the impact of business trends and issues. It has market data and stock tracking tools to use as well.
Morningstar – Free but has an option for premium membership. This app helps investors track their portfolios and monitor the markets. It has great research on funds and stocks with its famous “5-star” rating system. You can view charts, get investing ideas, and sync with your mornginstar.com portfolios.
Your Personal Investment Firm App – Free but have to have an account for most. Most brokerage firms have their own app, such as TD Ameritrade, Charles Schwab, Fidelity and others. Where ever your investments are, chances are there is an app for it. It is good to download it to check what you personally have.