With the New Year coming up fast, we think about resolutions.
What are we going to do better? Is there a new thing we want to be involved in?
Usually, we start a fresh year with a goal in mind. I don’t typically partake in the traditional resolution when a New Year comes, instead I try to set my best financial foot forward.
With a new year comes a new budget! I have used excel in the past, but I’ve come to realize that there are so many other options out there on our smart phones and computers that help with the complexities of budgeting and financial readiness.
I’m a perfect example of the type of person that would benefit from financial apps because I’m more creative than mathematical. Being able to stay educated on your finances is great for us too.
Military families are constantly on the go, so being able to manage finances easily, in the palm of your hand, is extremely beneficial. There are several sophisticated finance and budgeting apps that are perfect for the military. All you need is your smart phone or laptop with Wi-Fi access and you have everything you need to get your new year’s budget on track.
I’ve done some research for you that way you can test the waters out for your family:
GoodBudget – The main goal of GoodBudget is to make sure your household establishes the ideal budget. You’re able to track expenditures and categorize them to see what and where you are spending at any given time. A benefit of GoodBudget is that you’re able to sync accounts with other users. There is also access online and you’re able to upgrade from a free account to add more users and email support, among other things. (FREE for Android, iOS)
Level Money – When you link your bank accounts, Level Money assesses your spending habits. You’ll get an overview of all your expenses, so you can make informed spending decisions in the future and create budgets to ensure you stay on track. There is also online access to your account, aside from mobile access via the application. (FREE for Android, iOS)
Mint.com Personal Finance – Mint.com offers a relatively comprehensive financial management workflow. Users are able to establish a budget, monitor credit scores, create alerts, receive advice, and track investments. Categorization is also available for personalization and security settings for added protection. Lastly, there is also access to your account online via web browser. (FREE for Android, iOS)
PocketGuard – With the capability to link your accounts to the app, PocketGuard aggregates your activity in one place, including bills and other projected expenses. Users are able to set goals for spending that way it’s easily tracked. A simple budget plan can be created based on your spending habits and you are also able to incorporate spending limits. (FREE for Android, iOS)
Prism – The primary focus of Prism is to make sure you pay your bills on time. Military life often gets the best of us and forgetting to pay bills here and there with late fees adding up. Not only does Prism remind you to pay your bills on time, it allows you to pay them within the app. (FREE for Android, iOS)
Prosper Daily – Capture all your accounts, including checking and credit accounts to track your expenses in one place. You’re able to prioritize your spending to make the most out of your budget. Prosper Daily also touts ID protection and credit reporting to help you get your credit score in line. (FREE for Android, iOS)
Wallaby – The average American has more than one credit card issued to them at a time. Each credit card has rewards, interest rates, fees, etc. Wallaby was created to help manage your spending, taking into account specific credit card details and helps you understand what you would actual spend to pay off your credit, in addition to letting you know what card you should use to save money and get the best rewards. (FREE for Android, iOS)
Wally – Wally is a simple app meant to keep track of the basics of spending money. You input the details that way you can compare your family’s income to all your expenses. In addition to seeing a streamline flow of money distribution, users can establish a spending budget and take pictures of receipts for record keeping as well. (FREE for Android, iOS)
What tools do you use to balance your budget?
About the Author:
Rachel Tringali Marston is an Army spouse and daughter to an Air Force retiree. Rachel’s family settled in Texas and that’s where she calls home. Before getting married, she lived in New York City for almost 10 years and considers that her second home. Rachel enjoys learning and exploring the area around her husband’s duty station and is embracing life in the military. In her spare time, she shares her adventures on her personal blog called The Professional Army Wife.