The Best in Personal Banking Apps

Work hard, play hard, but not so hard that you spend all your hard-earned cash.

Personal banking can be an important undertaking. Life moves so quickly it’s hard to know where your money is going after it comes in. The easiest way to do this is by creating a budget. There are three typical scenarios when it comes to people and a budget:

  1. You create it and stick to it
  2. You create it, stick to it for a bit, but return to your bad habits after some time
  3. You don’t even try to create one for fear of failure

I’m somewhere between 2 and 3, and I know many others just stick to 3. In their Financial Planning About.com suggests these four steps to creating and maintaining a budget.

  1. Start with an effective and realistic plan – this means actually write down a plan with an achievable goal. They suggest picking 3 goals to work towards and to save some for retirement. Don’t make it lofty because you’ll be less likely to follow it if you know it’s unrealistic.
  2. Check back in – A budget is a living document. If one of your goals was to get out of short-term debt and you do, this will free up some cash flow you will have to eventually reallocate.
  3. Always optimize – if you need to move that money so you don’t touch it, do it. Use bank functions to automatically withdraw on pay days. Keep an eye on how you’re doing with cash flow.
  4. Always evaluate – this ties back into the first three. Make sure you’re allocating the right amount that will help you achieve the goals you set. Don’t make one, then walk away and come back to your money in disarray.

This isn’t a foolproof plan for everyone, just a recommended course of action from a reputable site. I’m not here to offer you suggestions on how to manage your money, but what I can confidently do is make you aware of 5 personal banking apps that make budgeting and personal banking almost, dare I say it, easy.

Check out this two minute video on the top 5 smartphone apps aimed to help alleviate the budgetary stresses of everyday life.

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