Taking care of your money is hard and even if you have the best intentions, you might still find that your savings account is bare and your budget goes out of the window a week after payday. The good news is, there are some great online tools and apps that can help make sense of money matters and make it so much easier to stick to good financial habits. These are the best apps and websites to help improve your personal finances.
Writing a budget is financial responsibility 101. You need to track all of your spending so you know exactly where your money is going and you can make sure that you have enough left over to put into savings. But after you’ve written your budget down, it’s easy to forget about it when you are out and about and make impulse purchases. Before you know it, your budget falls apart and, yet again, you’ve failed to put anything into savings this month. But budgeting apps are great for that because you can keep a close eye on your budget at all times. They can also be linked to your bank account so all of your spending is added automatically and you don’t miss a single penny. Setting alerts when you are close to reaching your budget is also a great way to remind yourself not to waste money.
If you ever need to borrow money, it’s important that you know exactly how much you will have to pay back before you make your decision. Loan agreements aren’t always the easiest things to understand and it can be tough to find a clear figure that includes all of the interest payments. That’s why you need to use repayment calculators (click the link to learn more) before you take out a loan of any kind. They will give you an accurate figure so you know exactly what you will owe each month and you can work out whether you can afford it or not. Once you start taking out loans that you can’t afford to pay back, that’s when you’ll find yourself in some real trouble.
Automatic Savings Apps
The reason that a lot of people are terrible at saving is that they don’t do it at the start of the month. They get their paycheck, spend a load of it, and then start trying to save halfway through the money when they’re already short on cash. That’s why automatic savings apps are so effective. There are some great savings apps that round up your spare change and put it into a pot, which will help you save a lot more than you think. But there are also some more advanced apps that use an algorithm to work out how much you can realistically save, based on your budget, and then automatically move that money over for you. Once it’s out of your hands, it’s a lot easier to build that savings account.
These apps and websites will help you to get to grips with your money and pick up some good, long term financial habits.