Managing money can be as difficult as earning it. Proverbs like “A dollar save is a dollar earned” are awfully nice to read and quote but can be tough to put into practice. Starting to track the money you spend is one of the simplest first steps one can take. Once you see how much is going where, you will automatically scramble to cut down wasteful expenses.
Since our generation is known for its acute ADD, noting down every expense on a notebook or an iPhone app won’t last more than a couple of days. In the aftermath of the personal finance revolution spearheaded by Mint, there are a ton of online apps to help you pinch personal & business pennies and after the jump we’ve a compiled a few for your financial well being.
Mint is just like YouTube; they weren’t the ones who invented the idea but killed it for their competitors with their execution. Mint brings all your financial accounts together online, automatically categorizes your transactions, lets you set budgets & helps you achieve your savings goals. You’ll be able to see all your balances and transactions together — on the web or your phone.
Mint automatically pulls all your financial information and categorizes them so you get the entire picture of your finances. Based on your spending patterns, the web app also suggests financial products that will serve you best. Now it’s open to users from Canada too.
Yodlee offers financial management solutions for the entire spectrum, from corporate companies to consumers. Just like in Mint, you can link your accounts securely to view all balances and transactions and pull pre-categorized reports to analyze your where your expenses go. You can also pay bills from the Yodlee account for free and transfer funds too.
Five out of the ten top financial institutions in USA use Yodlee’s solutions and hence you don’t have to worry about the security of your financial information.
A great tool for freelancers and SMBs, FreshBooks aims to be the quickest way to manage your finances, specializing in tracking your time and invoicing your clients. FreshBooks helps you get paid faster with simple, beautiful company-branded invoicing. It offers your clients numerous payment channels: credit card, Google Checkout or PayPal. Operational since 2004, Freshbooks boasts more than five million users worldwide.
Moneytrackin’ is a free online web app that allows you to track all your expenses and income easily and without effort. The app intends to be a simple yet powerful online budget management tool that offers you a clear view of your financial situation. One interesting feature of the app is sharing and collaboration. If you are working with a family member or your room mate to keep budgets in line, you can do so with ease and work together on the same account to reach financial goals.
Directed at Businesses using SalesForce CRM, FinancialForce is uncomplicated yet dynamic and capable. Designed to be straightforward, easy to implement and require little maintenance, FinancialForce positions itself towards sales and service-focused businesses seeking to grow profitably and effectively. Boasting great integration with SalesForce CRM, businesses only need have one view of a customer enabling effortless transactions between processes.
Mvelopes is an effective online personal finance and spending management system. This award winning app applies innovative financial software technology to the traditional envelope method of budgeting to help you manage your finances, while living within your income.
Mvelopes supports 14,000 financial institutions and rest assured that if you have an account, it can be imported. Thanks to Mvelopes Bill Pay, you can pay any company or individual and create recurring payments. Bills can be received, examined and paid from the app too. Note that after a free trial period you’ll have to pay a subscription to continue using the service.
Just like their domain name, Xero is a neat and simple web app that focuses on assisting you in all financial transactions and accounting tasks associated with your business. In addition to a gamut of impressive features, Xero will try and match transactions you’ve downloaded to transactions in Xero. You can easily identify unreconciled items and reconcile when you need to — daily, weekly or monthly.
On top of assisting you in planing & managing your home budgets and special activities such as buying, selling or building a home, vacation planning etc., MySpendingPlan also helps you manage the budget, shopping, and tasks for organizations and social groups you are involved with.
Visit their Save More section, to print grocery coupons, find free stuff, get discounts and great bargains on a lot of items. Leveraging their predictive Auto-Assign Budget technology and based on your past and present spending habits, the app will recommend a future budget that is better suited with your income.
Built with the aim of making the running of your small business easier, KashFlow is packed with additional features that go above and beyond the standard accounting software remit. Each feature within KashFlow exists as a result of actual users requesting it. By doing away in the ‘accounting jargon’, KashFlow has created an app for the ordinary user.
SmartyPig is unlike a standard finance management app. It’s an FDIC-insured savings account, combined will all the goodies of a web 2.0 finance management app. SmartyPig helps you replace the destructive “buy-now-pay-later” approach with a constructive “save-then-spend” mentality. Decide how much you want to save and when you want to meet your goal and SmartyPig will suggest a monthly contribution automatically to help you get there fast.
Zoho’s apps have beautiful interfaces. It’s easy for non-financially minded people to use these apps to their advantage. Positioned to provide for SMBs and freelancers, Zoho’s apps cover invoicing, time tracking, expenses, and much more. Zoho Books recognizes each business has its own unique needs and therefore offers great flexibility.
Intacct pride themselves on their customer satisfaction ratings: 9 out of 10 Intacct clients indicated that they would recommend their service to their colleagues. Directed at SMBs, the Intacct system includes accounting,revenue recognition, contract management, inventory, vendor management, purchasing, financial reporting applications and financial consolidation.
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Do you use a finance management app yourself? Are you sticking to the budgets and suggestions offered by the app all the time?
Update: This post was updated on May 27th 2015