Best Money App
You know, it’s really hard to live within a budget when I have no idea how much money I have to spend! Well, checking my bank balance helps some but I don’t want to spend it all, even though I might be tempted when I see some amazing 3 inch heels on sale at Macy’s. So how do I keep track of my money on the go, with my busy life? With these 2 money apps.
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Let me tell you, these have changed my views on budgeting and net worth! They are amazing.
We all know how apps have simplified tasks and this is no exception. Being able to look at my app and see where I stand in every budget category while I’m out shopping makes decisions a simple yes or no. There is no guessing or guilt about my purchases any more.
So, how does it work? I’m glad you asked. I’m going to walk you through it all, with pictures too. I’m a visual person and learning something new is hard for me unless I see it demonstrated, so here we go.
Drum roll here for…
Money App #1 – YNAB
You Need A Budget is a website and an app. I recommend signing up on your computer though because connecting it is just easier than doing it on a smartphone, that is just my option but you can do it how ever you want. Once you have it finished, then download it and log in via your app.
You connect the account to your bank account and it brings in your income and expenses which you then slide into a specific category. As you spend money you just tell it what category that money is coming out of and it does the math for you. No calculator needed, no spreadsheets and best of all, no hassle! I love it! It’s a money app that saves you time and money, win-win in my book!
Step 1. Sign up
Once you go to www.YouNeedABudget.com just click on a Try YNAB tab. The sight has alot of information on it so once you have finished reading and watching the how to videos you can get started.
It is free to try, which I recommend. It lets you get your account setup and begin using it for free and because it’s 34 days and not just a 30 day trial, you will see how it works with a whole month of expenses and income.
Step 2. The Dashboard
Once you have completed the sign up information you will come to the dashboard which looks like this. At the top you will see “Set a Goal” and the Blue tab. That area will help guide you through the process of setting up your information and get you started on everything.
Step 3. Connecting to Your Checking Account
Now to connect it you will just type in the name of your bank and click on it. Woohoo! we are almost done!
Once it connects you will see the dollar amount pop up in the big green tab on the top of the page. This is where the fun part begins. 🙂 It’s so cool to add money to the category’s. You’ll see soon enough!
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Step 4. Adding Categories
Now, they have set up the account with a set of regular expenses. But you may find you want to add some categories or your own. I recommend that you do that first. Just click on the + tab on any of the blue bars
Step 5. Deleting Categories
I didn’t think to do this when I was starting to set my budget up but I wished that I had deleted the ones I wouldn’t use. It would have just made my list easier to read. But, now that you know, you wont make my mistake, right?!
Simply click on the writing of the category and this box will open up. You can change the name of it right there or delete it all together. Simple as that.
Step 6 Enter Your Budget
Now that your categories are all listed, go through and put down how much should be in each one. As you do, it will begin subtracting it from your green tab at the top. Otherwise know as your income. Once it is down to $0 you have set up your whole budget for the month or 2 week period, how ever you get paid!
Sweet! You have done it! That was the hard part.
You have completely set up your budget. Now every transaction will be available for you when it hits your bank account. You can keep up with it on a daily basis which it critical for you if you are working to get out of debt or save.
Now, app #2. Personal Capital.
Net worth. For years I had heard this term but never thought it mattered because net worth always was used in context of millionaires! Forbes talks about it alot but I’m not a millionaire so why should I care right?
Well, I didn’t until I began using Personal Capital.
Again, I recommend setting your account up on a desktop computer and then downloading the app. Once that is complete you will gain a clearer picture of just how much your debts are effecting you. For more on that be sure to read “The Worth of Net Worth”
So that you have it! 2 Money apps you need to have today.
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