6 Best Personal Finance Apps For Your Mobile Phone

By Ashley Henshaw. May 7th 2016

Today, our phones are used for so much more than just making calls and sending text messages. Now we can send emails, browse the Internet, do some online shopping and schedule appointments all from the convenience of a cell phone. In addition to making communication easier, our phones have also made handling financial matters simpler than ever before. There are a variety of great personal finance apps available for mobile phones today. In this article, we’ll take a look at some of the best ones and explain how they can help you spend and save your money wisely.

Mint.com

This app is one of the most popular on mobile phones today for both its speed and efficiency. Users can connect the Mint.com app to their bank accounts, giving them an instant look at their updated balances. Unlike an app for a specific bank, you can connect accounts from different institutions to one app to provide a personalized at-a-glance financial overview. A great feature with this app is the ability to categorize your transactions. The app actually does this categorization automatically so you can see how much you’re spending on different things, such as groceries, dining out, coffee, clothing, gifts, bills, etc. You can even set your own personal budget for each of these areas and have the app notify you if you are close to going over your monthly budget for those items or services. One drawback is that users must also have a Mint.com web account.

The Details: The Mint.com app is free. The current version requires iOS 5.0 or later and is a 10.3 MB download.

DebtTracker Pro

If you have multiple credit cards, loans or other debts, then DebtTracker Pro is a great personal finance app to consider adding to your mobile phone. Once users put in their loan or debt information, they can create and maintain a manageable payoff plan. The app has a built-in feature which will tell you how long it will take to pay off a debt at the current rate you are repaying it and lets you play with the numbers a bit to see how a different payment amount each month with affect your debt. One drawback with this app is that users have to enter in information manually since it does not sync to your accounts.

The Details: This app is currently priced at $1.99. It is a 1.0 MB download and requires iOS 3.0 or later.

Mortgage Calculator Pro

Current or future homeowners can benefit from using Mortgage Calculator Pro to calculate the monthly payment for a mortgage. Users simply enter in basic information, like the property cost and down payment amount. Then insurance, monthly fees and interest rates can be added in to test out different scenarios. A complete payment schedule is stored on the app so users can see their principal, interest and balance for every payment. In addition, this app will work for any fixed rate loan, such as car or credit card payments.

The Details: The Mortgage Calculator Pro app is currently priced at $0.99. It requires iOS 3.0 or later and is a 0.5 MB download.

Grocery Gadget

Groceries take up a significant chunk of your budget, so it’s important to spend wisely when you’re shopping at the supermarket. This app allows users to make grocery lists and check off items as they shop. In addition, the app keeps a history of what you’ve purchased and lets you share your list with other iPhone users if you choose. It evens learns the order in which you pick up items at the store and will reorganize your list to match your usual route through the store. Best of all, the Grocery Gadget app lets you scan in barcodes to add items to your list and to enter in the price. With this level of detail in your grocery shopping routine, it is easier to see where you are overspending.

The Details: This app is currently priced at $3.99. It requires iOS 4.2 or later and is a 8.7 MB download.

MoneyPass ATM Locator

As simple as it sounds, avoiding ATM fees can really add up in the long run. With this app, users can quickly find the closest surcharge-free ATM and even get directions that will lead them right to it.

The Details: The MoneyPass ATM Locator app is free. It is a 0.3 MB download and requires iOS 3.2 or later.

PayPal

This personal finance app makes spending money safer and easier. With the PayPal app, users can easily send money to others. This feature comes in handy for things like splitting a check at dinner or collecting money for a group gift. Another great feature is the ability to deposit a check into your account just by taking a picture of it. The best part is that PayPal is known for having great security, so you know your money will be safe.

The Details: This app is free. It is a 15.9 MB download and requires iOS 4.0 or later.

The most important thing to keep in mind when choosing finance apps for your mobile phone is what your personal needs are. In many cases, it’s best to stick to a small handful of apps that provide you with the best financial assistance and advice. That way, your information isn’t spread out among so many apps that it’s difficult to keep track of your saving, spending and investments.

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