Your iPhone works like a miniature checkbook in your pocket. With the right iPhone apps, your iPhone can keep track of your account balances, generate reports and keep track of your monthly budget. This lets you ditch the old paper checkbook and keep your finances on your iPhone. All you have to do is enter each transaction that you incur each day.
Use categories to specify what the charge was for. The application then tracks your spending so you know where your money is going every day. This is a great way to fix bad spending habits. So if you’ve been applying for too many credit card deals and need to reign in your spending, here are five iPhone apps worth looking into.
1. IXpenseIt by FYI Mobileware
IXpenseIt ($4.99 USD) is a powerhouse financial tracking application which allows you to create budgets, input your transactions and create reports for tracking your spending. IXpenseIt supports multiple accounts tracking so you can keep track of your checking account, savings account and business accounts all from one application. It even takes photos of your receipts and generates expense reports for your employer. IXpenseIt is a feature rich application that is definitely worth the higher price tag.
2. Pocket Money by Catamount Software
Pocket Money ($4.99 USD) is another financial tracking application for entering your expenses and tracking your spending. Pocket Money creates graphs and reports to show you exactly what you are spending your money on. One huge benefit to using Pocket Money is that it integrates with the Android application and has a desktop application for your computer.
3. LohasMoney by InfoMind
LohasMoney ($2.99 USD) keeps track of your spending using an intuitive layout. The main screen shows your expenses, budget and income with a battery-esque bar showing if you are in the green or in the red for the month. LohasMoney shows your expenses by day, week, month and year. It also generates reports so you can see where your money is going.
4. Accounts 2 Checkbook by SVT Software
Accounts 2 Checkbook ($0.99 USD) replaces your physical ledger for keeping track of your checking account expenses. Beyond the ordinary checkbook, Accounts keeps track of multiple checking and savings account to give you a full overview of your financial situation. Accounts 2 also gives you graphs so you can see where you money is going for that month. Accounts 2 is a great little application with an excellent price range for tracking your spending on your iPhone.
5. Mint by Intuit
The Mint iPhone application (FREE) syncs with the web-based application to keep track of your accounts in real-time. The Mint web-based application lets you input your bank account information, credit card information and other assets/liabilities. It then updates on a daily basis so you can access all your financial information from one dashboard. The free Mint iPhone application lets you see all this information directly from your iPhone so you can track your spending and stay in the green.
Make sure to use all possible security safeguards on your iPhone in case it is lost or stolen. This includes placing a pass code on your iPhone to prevent unauthorized access to your device. Many of these applications also include individual pass codes for the application to prevent theft of your information. It may be slightly inconvenient to enter a pass code but your financial security is worth the hassle.
Tracking your spending lets you make changes to your spending habits. It enables you to see where your money is going so you can cut out bad habits and save more money for your future. These five iPhone applications are just a snapshot of the many great iPhone applications available for tracking your spending on your iPhone.
Article by Vishal
Meet Vishal Gaikar, the tech wizard hailing from Pune, India, who's on a mission to decode the digital universe one blog post at a time. When he's not tinkering with gadgets or diving deep into the digital realm, you can find him concocting the perfect cup of chai or plotting his next adventure. Follow his tech escapades on Twitter and buckle up for a wild ride through the world of innovation and geekery!
