Balance a checkbook. Create a budget. Set up accounts to better control your finances. Open up a retirement savings account. These are all steps one would like to take when it comes to controlling ones finances. We all have the desire to keep our money in control and we all want to be as responsible as we can when it comes to our spending and saving. But, how many people actually do it?

With busier lives, economical struggles and a high unemployment rate, among other things, managing your finances responsibly can be a challenge. While it is a good idea in theory, most people don’t have the time, energy, or know-how to actually do it. This leads to overdrawn checking accounts and a tendency to live paycheck to paycheck, even when it isn’t necessary.

If you are on Well Kept Wallet, then you can probably identify with all of the above. Perhaps your struggle has been going on for longer than you can remember, or perhaps this is new due to circumstances that have just cropped up. We now live in an electronic age so rather than suffer through financial debacles, why not let your phone manage your finances for you?

4. Cash Flow

Image via Google Play

Even in the midst of any financial struggle, how often do you still find the money for the items you want, like the latest cell phone or other electronic? But, when you’re able to keep up with your finances even as you’re spending, you realize that 4g phones quickly pay for themselves. Once you have yours, download Cash Flow right away. If you’re used to manually tracking your expenses by saving endless receipts or if you ever struggle to remember to balance your checkbook, this is an efficient, time-saving app.

With Cash Flow, you’ll have records for everything, the details of the people and companies to whom you’re making payments, your current balance, and your expenses. Keep up with the transactions and payments you make every month as well as one-off payments. The best part is that it’s free, although you can upgrade if you like it.

3. iWallet

Image via Google Play

Keeping up with the income you’re bringing in and the expenses you’re paying out is an effortless process with iWallet. If you need a budget but you’ve never done it before or you’re afraid of is calculating, this app will be invaluable. If you’re always running low before your next paycheck, this app helps you see where your money is going. That way, if you’re spending too much on junk food, need to stop eating out so much, or are investing an exorbitant amount on frivolous items, you’ll know exactly where to cut back so you can stop living your life from paycheck to paycheck.

2. Mint

 

Image via Apple

The Mint.com application is definitely one of the most popular and best personal finance apps around, because it lets you build your own easy-to-follow budgets. Create a budget for eating out, gas, entertainment, luxuries like cable and Internet, or anything else you want to monitor or save for. This app not only keeps track of what you’re spending but also shows you how much you have left on a given budget, and color codes your categories so you’ll easily know when you’re reaching the danger zone. Mint.com even keeps up with your investments and offers helpful stock tips and advice.

1. Personal Capital

 

Personal Capital is like an upgraded version of Mint, providing help with not only your spending and cash flow, but also your investments and net worth. Better yet, it’s still free! Personal Capital can help with managing all aspects of your personal finances, and for individuals with a net worth over $250,000, Personal Capital also offers Wealth Management services for a very reasonable price. The only downside of Personal Capital is that the budgeting portion of the app is not quite a detailed as Mint.com.

Simply put, you don’t have to hire a money manager to learn about personal finance, all you need is a good phone. Have any finance apps helped you become a smarter, savvier spender?

About the author:Jennifer is a freelance writer, working hard to maintain that positive balance in her checking account and helping others to do the same.

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