Financial Apps and Services Streamline Money Management

Comprehensive personal money management encompasses wide-ranging financial matters. Tending to all of them and keeping your finances in order can be challenging, at times, so anything that simplifies the process or adds precision is welcomed.

In addition to diligence, research, consistency, and other prudent financial practices, making the most of technology can also help you keep track of your money and achieve budgeting success. Several worthy apps are available, providing tools for UK users needing finance help.

Money Apps Simplify Household Finance

There’s nothing wrong with taking pen to paper, working out your finances. But several modern money apps are available, which make it easier to track various aspects of your financial life. User feedback points to some of the most effective financial services, but choosing the best apps for your needs ultimately depends upon your financial circumstances and personal preferences. The following alternatives represent a few of the options available to household money managers.

Mint – Consistently rated as one of the preferred personal finance apps, Mint is popular among Britons from all walks of life. PC Magazine highly rates Mint, because the app serves daily financial needs as well or better than many competing products. Unlike some other apps, which focus on a single area of personal finance, Mint provides wide-ranging benefits, touching on several of the most common money management concerns facing UK users. Among other things, the financial app can help you:

  • Track personal spending
  • Monitor credit reports
  • Manage bank account balances
  • Pay bills on time
  • Establish monthly budgets
  • Reach long-term financial goals

Mint’s mobile app gives you the tools needed to check your balances in real time, in order to avoid overspending. And once you’ve established budgets, you can use the mobile app to determine whether a particular purchase falls within your spending limits. If you are tempted to spend too much, the app provides alerts that help you avoid excess spending.

Doxo – This finance tool departs from some of the other currently available alternatives, providing a unique user experience, by comparison. Doxo serves as an electronic filing system, capable of assembling all your accounts under a single umbrella. Its bill-paying system allows you to gather utility accounts, bank accounts, and others, which can all be managed through the financial app’s single interface. Having all your accounts together under Doxo’s realm lets you easily reference your entire financial portfolio, at a glance.

You Need a Budget (YNAB) – This app’s name says it all. The intuitive budget tool standardises money management, allowing you to separate your finances in to individual “pots” of money. The app splits your earnings into spending categories you assign, such as housing costs, credit card bills, and other common outgoings. YNAB makes it easy to account for your income, and also assists reaching long-term savings goals. For the cost of a few pounds each month, YNAB provides all the needed budget tools, as well as recommendations for managing your cash.

When you are in need of funding, these useful financial tools provide a layer of defense against overspending – particularly when you’re working to improve a bad credit rating. Combined with online resources comparing interest rates and loan terms, financial apps can help you work out repayment details, ensuring there’s room in your budget for the debt.

With so many financial concerns to master, money-conscious Brits embrace various financial apps and services, to simplify the process. To reap the maximum benefit from these technological tools, it’s important to match your personal finance expectations to the app best equipped to meet them. Reviewing this small sampling of finance apps will get you started, comparing available alternatives.

Paul graduated in 2001 with a degree in Finance. Since then he has gone on to work for several of the UK's most well-known financial institutions.

An avid blogger and a huge football fan, Paul is here to guide you through the ins and outs of personal finance and perhaps save you some money in the process!

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