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Top 10 Money Management Apps Every Personal Finance Enthusiast Must Use

Top 10 Money Management Apps Every Personal Finance Enthusiast Must Use

Mobile apps are quickly becoming one major way we run our daily lives. But when it comes to more important matters,like personal finance and household budgeting, there are some apps out there that are really worth their weight in gold.

1. Mint

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    Mint allows you to pull all of your personal finance accounts into one place so you can manage your money from anywhere. You can track your spending, create a budget, and get bill alerts and reminders from this mobile app that allows you to see all of your accounts – checking, savings, and credit cards – in one place.

    Download Mint here. (Reviews here)

    2. Check (formerly Pageonce)

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      This app is a very simple and easy to use tool to help you remember when payments are due and to create monthly budgets. Check stays on top of your bills and money for you, so you can avoid missing a bill payment or getting hit with late fees. When bills are due or funds are low, the app will let you know so you can address the issue before it becomes a problem.

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      Download Check here. (Reviews here)

      3. You Need a Budget

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        As the name suggests, YNAB helps you build a reasonable budget and stick to it to help you get out of debt. It helps you make smarter decisions when it comes to purchases by giving you an overall picture of what your financial situation looks like. It is subscription based, which will cost you $60.00, but offers a free 34 day initial trial period before you commit to buying.

        Download it here.

        4. Doxo

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          Doxo is a new app, created based on the success of social media apps like Facebook and Twitter. Doxo allows you to centralize all of your important family information into one organized space, helping you move beyond financial management and into household management. It allows you to back-up important family documents, manage household payments, and connect with utility and service providers.

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          Download it here. (Reviews here)

          5. SigFig

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            SigFig is a mobile app that will design you a professionally diversified investment portfolio, monitor it, and automatically make the necessary changes to keep it on track. Once you sync your accounts (currently works with over 100 brokerages including Fidelity, Vanguard, Schwab, Ameritrade, E*Trade, and Scottrade), it allows you to see all your investments, including your 401K and IRA, in one central place.

            Download SigFig here. (Reviews here)

            6. Toshl Finance

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              It’s easy to forget that all of those morning cups of coffee, fast-food lunches, and gas station fill-ups add up. This app tracks it all for you, and was built behind the belief that knowing where your money is at all times is the first step to financial freedom.

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              Download it here. (Reviews here)

              7. Spending Tracker

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                Spending Tracker is one of the easiest and most user-friendly personal finance apps you can find today. It helps you to track your spending so that you are better able to stick to a budget and save money.

                Download it here.

                8. Checkbook

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                  Checkbook replaces your paper checkbook with a quicker, more convenient way to manage your daily finances. You can reconcile transactions, save recurring expenses, and schedule items to take place ahead of time.

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                  Download it here.

                  9. Expensify

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                    This mobile app is a must-have for entrepreneurs who have to track their business expenses for reimbursement or tax purposes. Their “SmartScan” technology reads the receipt and records the expense, and the app helps track your mileage and record your business related travel.
                    Download it here.

                    10. Mvelopes

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                      Have you ever heard of the envelope system of budgeting? This is where you set your monthly budget for various items and then when you get your paycheck, you literally put cash into different envelopes, each labeled with a different category from your budget. Well, if this budgeting method works for you, then Mvelopes is the app you need.

                      Download it here.

                      Many people believe that using apps can help them make real financial progress with both eliminating and preventing debt. If nothing else, it can certainly help you become more disciplined and aware of your spending habits.

                      Featured photo credit: Ken Teegardin via seniorliving.org

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                      Last Updated on March 29, 2021

                      Life Insurance: A Secure Way To Protect Your Future.

                      Life Insurance: A Secure Way To Protect Your Future.

                      Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

                      Importance of getting a life insurance

                      No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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                      On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

                      Choosing the right insurance plan

                      If you’re about to select an insurance plan, you should consider some important factors:

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                      • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
                      • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
                      • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

                      Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

                      Differences between life insurance plans

                      Here’s a short brief of some plan categories you can choose according to your needs:

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                      • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
                      • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
                      • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
                      • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
                      • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

                      Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

                      So what are you waiting for? Plan for your future and live a happier and carefree life today.

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                      Featured photo credit: aryehsampson.com via aryehsampson.com

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