How to fix poor money management without having to hire a financial advisor?
The perfect process for managing your money may not exist, but you can use a few different processes to determine what works best for you. The key is to find the one that will help you be successful in achieving your goals. With so many apps out there, it’s important to know which ones are right for you and how they work before downloading them. This blog post will help guide you through the process of finding the right app for yourself. Money management is an important part of our lives, but what does it mean for you? Poor money management can lead to many problems in your life. It could affect your credit score, ability to buy a house or car, and even the amount of debt that you carry.
Some people have poor money management and are not good at managing their bills, setting aside savings, and others but you are not alone, an article on CNBC reported that about 70% of Americans are struggling financially. So what now is there any hope? Can the average person save money after paying all their bills? The good news is that with today’s technology, more and more great apps with AI algorithms can help detect what amount of money to put away for you and also set aside money from your account to pay some additional bills. The best way to manage your money is through an app.
Which one you use, depends on what kind of person you are and what things mean the most to you. For example, if someone values spending time with their family more than anything else, they might want a budgeting app that helps them spend less time at work so they can spend more time with their loved ones. If someone wants to save as much money as possible then maybe they should use an app like mint which will help them see where all their money is going and how it’s being spent. There are many different kinds of apps out there for people managing their finances but I would recommend any type because no matter what happens in life, we all need some form of help when it comes to poor money management.
They might have a lot of debt, or they may not be able to save any money. The reason for this is usually because people don’t know how to manage their finances properly. If you want to learn more about what poor money management looks like and the steps you can take in order to improve your financial situation, keep reading!
Will it work for you ?
Do you feel like your life is out of control with too many expenses and not enough income? Well, it may be time to fix that poor money management of yours. I know the feeling all too well. It’s hard to stay on top of bills, let alone think about your future goals. But what if there was a way for you to take back control of your finances? Money management apps can help keep track of how much money is coming in vs. going out, which will give you the ability to create a budget that works for you!
They also help track spending habits so that maybe next time you want an expensive coffee instead of making it at home or buy food from the grocery store instead of eating out-you’ll have enough money saved up already! With these powerful programs at our fingertips, below we will go over 5 apps that you might like…
How can these budget apps to help fix your poor money management
There are so many budgeting apps out there that it can be hard to know which one is the right for you. There are different types of people , and therefore different money management styles. It’s important to find an app that meshes with your lifestyle and can help shape your poor money management, whether you’re a visual person or need detailed reports. You also want an app that has the features you need while not being too expensive. This post will help make choosing a budgeting app easier by providing information about different types of budgets and their features as well as popular apps in the market today!
1.Tally
Tally is an innovative mobile application that helps users pay off their credit cards in the most effective and optimal ways. The algorithm of tally automatically minimizes debts and helps its user to live a better financial life. It helps users in identifying the credit card which is to be paid first by analyzing different cards’ APR. Thus tally is a great opportunity for all users who are stuck in debts and interest. And looking for a solution to get rid of their financial problems.
Tally App Reviews
One of the great features of tally is that you don’t have to bother to remember several credit card payments. Rather you make a single payment to Tally once a month, and Tally does your duty diligently and efficiently. To avail of this opportunity, open the tally app and select the option “Tally pays”. And afterward, a single payment will be charged by tally every month. Tally is directly linked with your bank account, and it debits the required amount of credit from your bank. We often get busy in our life and forget our credit card payments, which increase our debt with accrued interest. As far as “tally reviews” are concerned, it has proven to be a great application for people struggling with their debts. Tally helps you get out of debt with the feature of “line of credit“.
At a very low-interest rate, you can reduce your debts. Tally offers this feature probably at the lowest interest rate. So there is no reason why you do not try this amazing application if you are struggling with your debts. What it also does is that it helps you figure out which bill needs to be paid first. And again this is an automatic process that is performed under an expert-designed algorithm to attain maximum positive results. The best thing that we see in “Tally reviews” is that it is absolutely free. There is no fee that you need to pay to get started. Also, there is no subscription fee, annual fee, or balance transfer fee. It Is A Completely Free Application That Is There To Reduce Your Debts And Interests.
Tally only earns when it saves your money with a low-interest rate. It eradicates the risk factor because you only pay some percentage of the amount which is saved by the tally application. The only shortcoming of Tally is that it doesn’t stop you from getting more debt. You always have access to your credit card as per your temptation. In order words, you also have to be responsible for not increasing any further debt on any temptation. Currently, Tally is only operating in 30 states of the United States, but hopefully, this number is expected to increase soon!
3 tally app features I love
-manage all your credit cards in one place
We all know we hate going from one app to another to check balances, due dates for our credit cards but with tallys “manage your credit card” feature you can add all your credit cards into one place, Tally allows you to see all of your credit card information in one spot. Add your cards to the app to receive a more complete picture of your money at any time.
-line of credit
Tally offers a personal line of credit and is a valuable resource for consolidating credit card debt. Tally analyzes your credit profile after you download the Tally app and then they will scan the credit cards you’d want them to manage to see if you may qualify for a credit loan with a lower APR than you’re now paying – saving you money. The best part of this feature is that they run a soft credit check that won’t affect your credit score.
-late fee protection
We all are busy, either with kids, school work, or life, in general, we are all bound to forget a payment but with tally’s late protection fee Tally keeps track of your deadlines. Every consumer at Tally is protected against late fees. They verify each of your credit card accounts once a month to make sure you’ve met your minimum payment obligations. If you haven’t paid, they will use your Tally line of credit to make the minimum payment on your behalf.’ awesome right?
–App store rating: 4.5 rating
–Trustpilot: 4.4 / 5
– PRICING: There’s a $300 annual cost, or $24.99 each month, but it’s not out-of-pocket. There is no upfront investment because your Tally annual charge is deducted from your credit limit. Each month, you repay a portion of the charge.
2.Pocket guard
PocketGuard is an app that was designed to help people manage their money better. The idea behind the app is that when you are in the store and want to buy something, you open up PocketGuard on your phone and scan or type in what it is you want to purchase. You then tell the application how much money you have in your bank account at this present time, how long it will take for your paycheck to come through, and an estimate of how much more income you expect during that pay period. From there, PocketGuard calculates whether or not it would be wise for you to make the purchase by telling if there’s enough money available now (known as “emergency funds”), over what period of time (known as “liquid funds”)
3 Pocket guard features i love
–In my pocket
IN MY POCKET is a cool feature offered by pocketguard , this feature will show you how much money is left after you finish paying your bills, money set aside for goals and budget.
–hashtag feature
With the hashtag feature this will enable you to research old expenses faster, Simply include a hashtag in the transaction’s note area and examine reports for hashtags…A lot of people might not know what they are, but when used correctly it could be just enough to satisfy all our spending needs! So say you went out dining at Applebees, add a hashtag #applebees you can custom your own hashtags to each expense to easily track stuff later on
-spending piechart
When using good budgeting, spending less money becomes a motivation with the pie-chart feature whenever you buy something it gets put into a category, what makes this feature so cool? you can see month to month where you are overspending and you then that will help make the better decision the following month to not spend as much
App store rating: 4.7
Price: Lifetime option of $99.99
The monthly option of $7.99
Annual option of $79.99
3.Truebill
TrueBill is a free app that helps you track your spending and make smarter decisions about where your money goes. It’s like having someone plan for you, every day.” “It syncs with all of your bank accounts and credit cards to show how much you spend in each category (groceries, coffee shops, restaurants) so that it can help you prioritize what needs to be cut back on first.” “You can also set up alerts to know when certain bills are due or if there’s an upcoming purchase that might require more than just the cash in your wallet. Truebill has built-in security features as well as fraud protection.
Using Truebill, you can cease paying for services you no longer use. When you don’t want a subscription, Truebill will take care of it for you by deleting them for you which saves you lots of money in the long run, with over 2 million users they gotta be doing good.
3 true bills features i love
-Managing subscriptions
Subscriptions are becoming increasingly difficult to track. Imagine months pass by and then you remember you were paying for something you wanted to try and you forgot to cancel. truebill has canceled over 1 million subscriptions thus far and is not planning on stopping any time soon
-Free Credit score
Tally also offers free access to your credit score. It will keep you updated on your score, and it will also allow you to report information about the services that are being offered to you by various lenders. This way, you can see if someone’s trying to sell something they shouldn’t be, not that you can’t get it elsewhere but it’s only nice to have it in a place where you are trying to manage your money kinda keeps you motivated to keep going.
-Pay advance
if you ever come short on funds Truebill will fund you up to $100 dollars, we all have those rainy days, but knowing there’s an option there can be a sign of relief so how it works …
Your bank account will be credited with the amount you selected, up to $100. After the next payday, return the loan.
Your pay advance will be repaid with your next payment. Your optional contribution helps the program’s financial stability for future participants.
App store rating: 4.5 rating
Trust pilot: 4 .9 starts which are great
Pricing: Free to use with options to upgrade to $3 to 12$ dollars a month you can also sign up for the yearly plan
4.MINT
Mint is an excellent way for individuals who are overwhelmed by their finances or just want to get more organized about their spending habits. With the push of a button, users have access to all of their financial information including bank accounts, credit cards, and loans in one single dashboard. Although they claim they are the most downloaded app for personal finance, I had to check it out. This nifty little app has helped a lot of users in spending better than ever before. Powered by Intuit, it offers features such as To avoid forgetting to pay your bills, setting up automatic reminders by SMS or email. With an alert system, you’ll never miss another bill payment.
3 mint features i love
-Bill payment
You have a budget, but how do you know where your money is going? Mint Intuit can help. It’s an app designed to help people better manage their finances and save more money. The app was created because of the need for financial management tools that are easy-to-use, accessible, informative, and enjoyable. With Mint Intuit It you can keep track of your spending with ease so you don’t even have to think about it!
–Tracker alerts
Have you ever had a subscription fee for $4.99 and forgotten to add money to the account fast forward the cycle hits the bank covers it and you get hit for a $35 overdraft fee? We all hate that. Keeping track of your financial information can be hard to do. Mint Intuit alerts you when your balance is low or bill payment is due, so you never miss a payment or have negative balances.
-All in one platform
When I hear intuit first thing I think that pops up is Quickbooks,i used Quickbooks for over 10 years in a variety of ventures I launched and I could not say anything bad about them, so I am pretty sure I will have a good experience with mint and I am looking forward to it, with intuit they have so many other services on their platform that you can browse around like software for your business or investment options and even compare between credit cards and loans you can see all of this on their website
App rating:4.8
Trust pilot:3.6 which is considered average
Pricing: It’s completely free to use Mint. The app does not really have a paid premium subscription available. You can get all of the app’s features and perks after creating a free account.
5.SIMPLIFI
Budgeting is a crucial part of any financial plan. It’s important to ensure that you have money left over at the end of each month for savings or emergencies. A budgeting app can help you track your spending and even set goals for saving more! Quicken’s Simplifi financial management software aids users in achieving their financial objectives. In order to organize and manage personal budgets, many people use Quicken, a personal money management program. The budgeting and money management tool from Simplifi allows you to design and track your budget depending on the individual demands you have. With one budget app that you can use from anywhere, you’ll always know where you are financial.
3 simplfi features i love
-30-day free trial
A lot of apps these days offer a free trial, but most people don’t know the benefits that come with it. Simplfi lets you try out their personal finance app for 30 whole days before making any decisions about whether to purchase or not. It doesn’t matter if you’re trying to get your spending under control, save up for retirement, pay off debt faster, or simply learn more about managing money; this 30-day free trial can help make all those things possible. If at the end of the trial period you decide to sign up for a paid subscription, there are no additional fees and nothing is locked in so if you change your mind later on down the line, canceling is easy as pie!
-Simplfi watchlist
Track your buying expenditure with a category watchlist, or keep track of your phone app spending with a payee watchlist. You can also make a watchlist for “shopping” and add items to it.
Any number of watchlists may be set up, and the software will never compel you to place a budget restriction on any of them. Yes, but it’s not required. Without forcing you into the mentality of an old-fashioned budget spreadsheet, Simplifi lets you see your expenditures at one glance.
-Spending plan
To begin, Simplifi takes your income and sets aside the money you’ll need for your monthly costs, such as energy bills, credit card bills, and insurance premiums that are easy to overlook. Simplifi automatically records your monthly expenditure in your spending plan while you go about your business. As a result, you’ll constantly be aware of how much money you have leftover without having to do any work. To help you plan your spending, Simplifi shows you how much you can spend each day based on the remaining days in the month.
App store rating 4.2 rating
Trust pilot: no rating for simpli for quicken loans 4.5
Pricing: 30-day free trial or $3.99 a month or $35.99 yearly
Final thoughts: Poor Money Management
You may be struggling with poor money management and wondering how you can change. If so, it’s time to take a deep breath and realize that there are many apps available for your smartphone or tablet which could help improve your budgeting abilities. These apps will not only make creating budgets easier but also give valuable insight into where the problem areas in spending might lie. Whether you struggle with overspending on clothes, eating out more than is healthy, or something else entirely these tools can provide some insights about what needs to change in order for you to better manage your finances. Take this opportunity now; download one of these free budgeting applications today!
