Top Personal Finance Apps for your Smartphone

by Emily on November 11, 2011

Today, it seems that everyone has a smart phone from kids on the playground to your grandparents. Or even they don’t have a smart phone then they have an iPad Well, you have a smart phone, why not use it to help your personal finances instead of playing angry birds or words with friends all the time. These applications are typically for all smart phones, but each application may vary according to the phones capabilities. These personal finance applications can help you improve your finances on the go anywhere in the world.

The first application you should make you that you download onto your phone, is your banks application. The majority of the larger financial institutions have applications, which allows you to do your online banking on the go. Many of these applications allow you to view your accounts, transfer money to accounts, send money to another persons account and complete your online bill pay. They can also show you the location of the nearest branch and ATM, which will help you save money on ATM fees and deposit money and checks. Some banks even have a feature of the application that allows you to deposit checks without having to go to the bank or ATM. You use the application to take a picture of the front and back of your check and then it deposits the money into the account, typically within that business day. Be sure to check if your bank charges to use this feature of the application, as I recently discovered that Chase is now going to charge $0.50 each time you deposit a check using this method, but in the long run it may save you money since you are not using gas to drive to the bank or ATM and its instantly in your account. Your application can even send you alerts when you account is below a certain dollar amount. You set the amount you want them to alert you to and the application will send you a notification as well as a text message, then you can transfer funds if need be so you don’t overdraw your account, again saving you money on fees.

Another application that you can download to organize, budget and be conscious of where and how to spend your money is Mint.com. We here at onesmartdollar.com have discussed the website previously as a way to help budget your life and keep your personal finances on track. This application will also send you notifications via application alerts and text messages if you spend over your budget in a certain category such as entertainment which would include dining out, drinks, movies and the like. Although you may ignore these alerts when you are out with friends and loved ones, at least you will be aware that you are over your budget in a specific area of your spending.

Another application that I find helpful is the PayPal application. This allows you to send or receive money on the go. You can set up your PayPal account so it links to your bank accounts and you when you receive or send money through the application it goes in or out of your bank account directly. There is typically a small transaction fee associated with receiving money through PayPal and then transferring it your bank account so be sure to check that out.

Our lives are busy, but you can be aware of how the stock market is performing on the go. The Bloomberg application has finance tools that you can utilize to manage your stock portfolio. The investment tools allow you to track your stock portfolio in real time for free. The application also includes audio news, so you can plug in your headphones and get updated on the market while commuting or at the grocery store or gym. Another application that will help you when you’re out is CheckPlease Lite. This is a free application that will help you split a bill and figure out how much to tip your server. Groupon, Living Social and Scout Mob all have applications for smart phones. You can purchase your deal on your phone so you never miss out on a bargain. Groupon and Living Social also have instant deals, so if you see a deal, then you can purchase it and use it while you are out and about. Scoutmob gives you free discounts to restaurants in your city. The deal is usually 50% off your bill up to a certain dollar amount. You never have to print the coupon, just simply access the application when you are out dining and show it to your server.

Through finance applications you can also get all of your financial news. The Economist has a free application that you can download which allows you to browse some of the publications materials online. Of course if you have a subscription, you can sign in and read the full publication. New York Times also has a very similar application as described above allowing you to be up to date with all that is finance. One publication that you should definitely be reading weekly if not daily to update you on the world of finance is The Wall Street Journal. You will be able to view partial content through the free application and once again if you have a subscription you will be able to read the paper cover to cover. This application also has videos as well as WSJ Radio and stock quotes.

This is just a small list of all the financial applications available on smart phones. Check out the application store on your mobile device in order to get a free for the personal financial applications that will best fit your personal finance needs. These applications can help you be informed, stay within your budget and save money all on the go. Your personal finance tools do not have to be in your home or office, you can carry them in your pocket or purse all the time.

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Emily

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