In this article, we will learn ‘Use smart tools and apps to get Confident with Your Money Management Decisions’. Finance management does not get handled by apps and tools only unless you are not bothered about managing your finances. But if you are aware that you have to be particular about your budget and savings and investments, then tools and apps certainly can play a big role in converting your awareness plans and thoughts into reality by helping you pave the path neatly. An organized way of investing money, spending money, and saving money in the best modes is what you can help in when you know about the various fin tech options you may use on your computer or smartphone. Here are discussed some nice and organized apps you may use for financial management to make your life easier and avoid bad financial decisions.
Use Smart Tools And Apps To Get Confident With Your Money Management Decisions:
Money Under 30
As the beginner, and as the young earner under the age of 30, you may start delving into topics that relate to budget, savings, small investments, systematic investment plans and so on. You may be conceptually too young to get into advanced money management topics and may need simple basic things to learn and develop understanding about finances. For you, the website money under 30 can be a nice resource.
Simple and basic things can be learned from the website like the filing of income tax, and how to invest money if you have a lot, and how to invest money if you plan to go small, and many such things. To start your basic research and education on money making and money managing, you may start to explore this website.
Gen Y Planning
This is a website initiated by a financial consultant and advisor, who gives insight into money matters and planning from the perspective of young adults and millennials. Sophia Bera is the founder of the website, and she guides in everything that influences your money management and expenditures, starting from lifestyle to financial goals and investment plans and all.
Retirement planner
Retirement planning can be done through the help of tools and apps, and you need to look for a nice retirement planner investment guiding app. There are many, and you really will get a lot of options in this category. The thing is, you need to understand the importance of retirement planning in making your old age secure and stable. Also if you have a family and children, you need to focus on making their lives smoother with some good retirement plan as well, while keeping in mind unfortunate situations that may come. Loss of job and income, some huge debt, a huge financial loss, death of the earning member and many such things are the reason behind planning investment such that you get a lump sum amount in return each month against years of investment, at an advanced age, to carry on life uninterrupted.
Wally
Track your expenses with Wally. This app works on any smartphone. You can track where you are spending your money in several ways through this app. You may take receipts of items bought, services taken, etc., and log in expenses in other forms and input methods. It helps you understand where you are spending so that you can plan things better based on the fact sheet you create.
You Need a Budget
This is an app again, and you can install in any smartphone. The app works by making budgeting simple. With this app, you can create a budget, keep things simplified, and plan with your savings, expenses, and accordingly set goals of money making and saving.
Home Budget for Families
This is another budgeting app for families. This app has features to get input from all family members from their phones and tabs so that everyone can contribute their ideas and input in the family budgeting. This app is especially interesting for young couples trying to make a family for the first time, or for families where the participation of young adolescents is encouraged by the parents. The app encourages budgeting and helps you learn about it.
Learn about debt management too
If you can learn budgeting and financial planning with these apps and tools, it’s great. But this is just the beginning. There is so much more you can learn and should lean. You should learn about debt management too, which is also a big part of finance management. Do not take this casually, because small debts accumulate to form a huge one, which often gets unmanageable for many. And unmanageable debts take no time to turn into bad debts if you are unable to pay back for long.
This affects credit history, credit rating, and the overall creditworthiness of the person, thereby affecting all future decisions of buying things, buying insurances, cars, house, and other financial planning. That is why, debt management is important equally, which starts from small things like handling your credit card debt. To learn thoroughly you should start from educative resources like national debt relief programs.
Sometimes all the financial planning you do and learn about gets nullified due to bad financial decisions of yours in life. Debt can leach you and rob you of all money, and make your state miserable if you do not know how to take loans and pay back responsibly or plan it well.
Tell your young ones about money management
The basis for managing finances must be carved out from an early age even before you start earning. If you apply this to your young ones too, then they will grow up to be much more confident ones about finance management and matters. The above apps are good. Also, you can apply many other tools and resources to train your young ones on money matters, and slowly give them small responsibilities and projects on finance handling after they turn teenagers.
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Finally
If you did not get the chance to learn the small and big facts about finance management at an early age, then it’s never too late. You can start now, and make the foundation of your future firmer and financially secure. That’s all, In this article, we have explained RUse smart tools and apps to get Confident with Your Money Management Decisions. I hope you enjoy this article. If you like this article, then just share it. If you have any questions about this article, please comment.