Personal finance mobile applications allow users to do almost anything associated with their financial lives, from tracking their income to paying bills. For example, personal finance mobile apps allow users to create and track budgets, set financial goals, and modify their spending habits. Here is a review of some powerful and popular personal finance apps, including Mint.com, Page Once, and Pocket Money.
TIME Magazine named Mint.com’s mobile application as the best personal finance mobile app of 2011, and that reign isn’t likely to end anytime soon. The associated website allows users to take advantage of the types of personal finance tools available with the bookkeeping software Quicken for free. The mobile app works the same way. Users can download Mint’s personal finance mobile app for free on most mobile platforms. Smartphone owners with the Mint.com mobile app can connect the application with their banks, and the application will update debits and credits to that account throughout the day. Mint.com then categorizes the spending, based on user input, and provides a snapshot of data about personal finance. The goal-tracking feature allows you to put in goals, such as $2,000 in savings for vacation, and then provides monthly goal tracking reports.
The Page Once application has a wide range of personal finance functions as well, and the mobile app offers even more functionality. Available for free for the BlackBerry, Droid, iPhone, and Windows Mobile phones, Page Once allows users to track their spending and pay their bills using their phones. Users can enter account information for their bills and then pay those bills using a simple one-touch system. In addition, Page Once allows users to set up alerts about such things as low balances and large purchases. These can be received either through the app or by text message.
This mobile app was one of the first available for personal finance computing. Its reach is less extensive, as it is currently available only for the iPhone. Pocket Money also costs $4.99 compared to Mint.com and Page Once, both of which are free. The features are slightly different, however, and may make it worth the purchase price. Pocket Money is designed to work like an older version of keeping a checking account. The app allows users to “pencil in” upcoming expenses and will deduct recurring expenses automatically. This predictive quality can work well for people who like to know in advance how much money will be available in an account. Pocket Money also has a currency converter, making it an excellent choice for international travelers.
Bridget Sandorford is a grant researcher and writer for CulinarySchools.org. Along with her passion for whipping up recipes that incorporate “superfoods”, she recently finished research on culinary schools in virginia and montreal.