It seems nowadays everyone’s eyes are glued to their phone. Technology has become increasingly mobile friendly and will continue to do so at a rapid pace. Applications have made it easy to pay bills, monitor accounts, receive coupons and buy items directly from your phone.
So with all of your favorites, why not add a budgeting app to the list? It’s the least you can do to be proactive about where your money is going, especially now when modern spending is more often on a card. But with all the applications out there, which one is the most user and budget friendly all the while giving you valuable debt advice?
The answer depends on what you’re looking for.
In the past, we’ve talked about applications like Mint; incorporating yours bills, investments, and bank account while providing custom tips and savings as well as a free credit score affiliated with Equifax. And while we love that it’s free, it typically only syncs with larger banks.
An app that we’re finding hard to look away from is YNAB (You Need A Budget). With features like cloud sync, balance updates, multi-device and desktop software capability (if you prefer), the endless capabilities almost make you forget it’s $60 cost. If you’re reluctant to cough up the dough (and we don’t blame you), sign up for a 34 day free trial to see if it’s something you can’t live without.
The idea behind YNAB is based off of four rules: giving every dollar a job, preparing for the inevitable, rolling with the punches while compensating for them in other areas, and finally, living off last month’s expenses. It could take up to four months, but it can happen. This method helps you avoid getting yourself into too much credit card debt because you will have already saved for those unexpected occurrences or expensive things on your wishlist in previous months.
In addition to the brilliant interface YNAB offers, it also gives you the option to enroll in an online class, an email course or register for a live webinar. Did we mention that it’s free for students?
Of course if you work better breaking it down on paper, we suggest using our simple yet effective household budgeting worksheet. Remember, we’re always available for one on one advice. To speak to a credit counselor today about budgeting and managing your finances, call 800-769-3571.