Financial Education: Save and Track You Money for Future Business Using These Apps

We love the saying “what gets measured, gets managed.” It is like if you are trying to lose weight, you have to track your calories and have a diet plan. The same things with your spending. Fortunately, in the 21st century, there is no shortage of tools available to help out to save your money for your future business. Experts from found out the best money management apps that you can do from the comfort of your own home.

There was a time in everyone’s life when you just do not want to check the bank account today or wondering what’s credit statement going to say. And the way to get out of that is to be on the top of it, knowing exactly what is going on with your funds and understanding whether you are ready to start a small business or not.

It all comes down to three major things in the finance world: budgeting, saving and tracking. We know how to make it easier for you by using financial apps. It is an effective way to control your budget. If you are just planning to start your own business, you are free to use an app to set savings goals and put your money toward opening a small restaurant. But the real question is what app to choose? Our experts can give you a hand with that.

Budgeting: Mint

Google Pixel 7

This app you have likely heard of because it is a “Madonna” of personal finance and budgeting app on the market. And for a good reason. You link your credit and bank accounts, and it tracks your spending in different categories (grocery, rent, bills, etc.). Each budget is displayed to you in sort of a linear. So, if you want to set a budget, for example, you are planning to spend $500 a month on groceries, you will have a line, and it has $0 on one end and $500 on the other. So, it tells you when you about to reach your spending budget in a certain category.

Moreover, if you spent some money on shopping or made a donation, you will easily track these things and see how you are doing in terms of budget. Mint is a good starting place for you because it shows where your money is spent and how much you want to spend in each category per month.

Although Mint boasts some great features, we actually would like to supplement with the other app. Let us move on to savings.

Savings: Qapital

Google Pixel 7

This app gives you a lot of unique ways to save your money and also makes saving not so painful and barely noticeable. After you set up an account with Qapital, it asks you how you want to save our money and all of the options they give you are great. You scroll through and just choose. Do you want to do something, go somewhere, get something, pay off debts?

The app has all of these preset rules as ways that you can save. The most popular rule is called roundup. With a roundup rule, every single time you make a credit card transaction, the app will round up your buying to the nearest dollar, and that amount will go into your capital savings account. You get a free transfer between your capital account, personal checking, and savings account wherever you want the money to flow. They also have “Spinless rule”, “Guilty-pleasure rule”, “Set and forget”,  “52-week rule”, etc.

It adds up over time, and these little amounts make a big difference in the long run.

Tracking: Truebill

Google Pixel 7

What about those purchases that you make all the time that you need to track? We would highly recommend you to download “Truebill.” It is an app that tracks monthly subscriptions and recurring charges, which sometimes can slip by. So, you realize that magazine or website subscription that is 8 dollars a month costs you eighty to a hundred dollars a year.

Maybe you are someone who wanted to get that free 30 days HBO subscription, and you realize you did not want to pay for it, it notifies you when the subscription charge pops through.

Let us give an example of why it is a super helpful app. The customers can get an alert that said they had been charged, for instance, Time Warner cable bill and it is $20 higher than they traditionally pay. If you did not have the app that allows checking the expenses or if you set my credit card bill on autopay, you would have never noticed this change and would have continually paid that extra $20. Instead, you just called them, adjusted the plan and got your rates figured out. So, you are not overspending for something you do not need to be overspending on.

Once you have figured out the advantages of personal finance apps, we are glad to share with you the best small-business apps in 2019 – Gusto, Wave, Freshbooks, Asana, Proven. So, take advantage of the newest technologies, save your money, and start your own business!

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