A guest post from Julia Peterson -

Get your finances in order and keep them that way with these simple tools

It’s amazing how much further your money can go when you plan it out ahead of time. If a smartphone fits in your budget, these apps can help you set firm goals and stick to them. We’ve checked out the cream of the crop, based on price, features, and simplicity; here are the very best budgeting apps on the market today, for iPhone and Android devices.

1. Mint (Android, iOS)

Mint is, in our opinion, the best personal finance app for either iPhone or Android. Like most apps, it allows you to track and categorize your expenses, but the real selling point of this app is the visual aids—progress bars that fill as you approach (or exceed) your budget for various categories, and a pie chart displaying where your money is going—both of which can be a very persuasive argument for sticking to a budget, or reevaluating your expenses. It also compares your monthly budget with how far along you are in the month—so if your fast food budget is almost full, and it’s only the 10^th, it can help you notice the need to reconsider things. You can sync it with your checking, savings, credit cards, investment accounts, and lenders to get a complete picture of your personal finances, as well as setting long-term goals. The only major downside is that the app doesn’t have the full functionality of the Mint.com browser service, and the app offers “advice” (sales pitches) based on your expenses. (Cost: free)

2. Money by Jumsoft (iOS)

This is a somewhat fancier app, with a higher price tag and a more complex interface; but the effort it takes to learn the app is a worthwhile investment. You can make more complex budgets, schedule monthly transactions, and even create business budgets if you’re self-employed. Otherwise, it is very similar to Mint—attractive graphs, trend analysis, and bill scheduling to keep you on top of your expenses. Because of the price, limited availability (you have to buy the app separately for your iPhone and iPad), and confusing user interface, it’s number two on our list; but still a great option for Apple fans. (Cost: $1.99)

3. Pageonce (Android, iOS)

This app is great for managing your bills, because instead of just tracking your expenses and obligations, Pageonce actually allows you to pay your bills through the app itself. Like Mint, it allows you to sync to your banking services, so you don’t have to input all entries yourself. (Some sync errors have been reported on Android devices; HTC users may still have trouble, but the errors are confirmed fixed on LG and Samsung phones). It also shows more specific, narrow breakdowns of the bills you pay each month, so you can see which bills are eating up more than their share of your income. The app is free, and if it weren’t for the $0.30 service fee for each bill you pay through the app, this one might be our #1 or #2 pick. (Cost: free)

4. Moneywise (Android)

This app was rated “The Best Budget-Tracking App for Android” this year by LifeHacker; and while we might not go that far, it’s definitely a contender. One of the advantages it has over Mint is a better ability to visualize changes over time—Mint can do that on its browser service, but not on the app. It also supports multiple currencies, for users outside the US, or those who do a lot of international transactions. It certainly isn’t as pretty as other apps, and requires a great deal more user input than Mint or Jumsoft, but if you like that hands-on experience of balancing your own checkbook, this is a great option. (Cost: free)

Julia Peterson is a writer for AndGeeks.com, a popular website that provides up-to-date news, detailed commentary, and unbiased reviews on cell phones and related topics. Julia resides in Galveston, Texas in a cozy little house in the country with her husband, young son, and their Labrador retriever, Darby.

written by Joe \\ tags: budget, Finance, Savings, software

Budgeting is a term that may seem intimidating due to the assumption that it means “giving up” the things you’ve become accustomed to. In reality budgeting is the process of organizing your spending so that you develop sustainable long-term habits. Learning the basics of budgeting makes it easier to determine if you are living beyond your means or if a few small changes to the way you manage your finances can get you back on track.

Start by Meticulously Tracking Your Spending
Budgeting is about getting personal finances under control and knowing where money is being spent. The first part of creating a budget is tracking every penny and the type of transaction. This ranges from paying in cash to using a credit card – in some cases it can also include tracking personal investments and mutual funds.
Start by writing down every conceivable monthly expense. This will include things such as groceries, fuel expenses, clothes, and entertainment.  If you are creating the budget for your family, ensure you account for medical check-ups, dental and vision care, and medication. These expenses are typically recouped if you have health insurance but it can take weeks for a claim to be processed by your insurance provider.

Segment Your Expenses Into Lists
Make two lists: the must have list and the want list. The must have list should include bills like utilities, housing, groceries and medical costs. It should also include any debt payments and a savings goal. These are necessary expenses and the highest priority when making a budget.
The want list should include extra expenses like a coffee at the local coffee shop or the meal out with friends at the end of the week. Anything that is not necessary goes onto this list. These are the items that can be scaled back when money is tight.

Crunch the Numbers
Using accounting software or a good old fashioned piece of paper and a pencil it is time to crunch the numbers. It’s quite a simple process, just subtract your monthly expenses from your monthly income. This determines the amount of money you have to work with and how your money is being spent.

Additional Considerations
Most people stop at this point. With a loose budget in place they go on their merry way. However, I always recommend assigning at least 10-15% of the monthly budget to unexpected expenses. This tactic is a fail-safe; the money in the sock drawer if you will, that will keep your head above water even in the most pressing financial times.

About the Author
Carly Lance is the online marketing coordinator for Personal Bankruptcy Canada, a network of Canadian bankruptcy trustees that help “good people deal with bad debt.”

written by Joe \\ tags: budget, Credit, Finance, saving