Money Tips: Personal Finance Tools for Lazy People
Managing personal finances is a very important responsibility that all people share. Unfortunately, many people do not have the time, energy, or desire to properly track and manage their money. For those that are too lazy to manage their personal finances, it can be easy to fall behind on payments or lose track or valuable information.
This can lead to the accumulation of debt, ruin your credit score, and have other negative impacts on your financial lives. Fortunately, there are a variety of great financial tools and programs that can help even the most lazy people keep better track of their finances.
For those that are looking for an easy and simply way to organize their personal finances, using Mint is the best option. Mint is a personal financial software, website, and application that can make it easy for anyone to manage their financial lives. It does a great job of consolidating all of your bank accounts, loans, credit card accounts, and other financial assets and liabilities to give you a clear financial picture whenever you want it. You can also use it to create a general budget, be reminded of bill payments, and complete a variety of other tasks.
You Need a Budget (YNAB)
YNAB is a very popular application that is ideal for someone that is lazy with their finances. This is a budgeting tool and application that can be run on your smart phone and is accessible from anywhere in the world. Overall, YNAB is considered to be a very easy application to use and is quick to set up. When you use the application for the first time, it can be linked to your accounts to get a sense of what you recurring expenses are. It can then give you a variety of tips that will be able to helpful for stopping overspending. It will then be able to prepare a final budget for you that can be tracked each month. While it costs up to $50 per year, it is also helpful because several people can use it at once. This can make it ideal for a married couple or family.
One of the most traditional personal finance tips is to use an envelope system for making payments. With the traditional envelop budgeting system, you would allocate your money each month into individual envelopes that would be used for a variety of different expenses. This can include having a budget for groceries, clothing, entertainment, loan against your car, and any other expense category you see fit. Since money is so much more digital than it was in the past, physical envelopes do not make much sense anymore. However, with the Mvelope application you can use the same concept for budgeting. The application will be able to help you build the proper Mvelope categories and budget and alert you when certain parts of your budget are running out.
Automatic Savings Application
Ultimately, saving money is very important and the best way to do it is to have savings moved out of your account automatically each month. One of the best ways to do this is through the Digit application. This application costs about $3 per month to use, but will give you a free 100 day trial. The application works by automatically directing your funds into a different account each month. The accounts that are sponsored by Digit are fully insured by the FDIC and are held at some of the top banks in the country.
For those that are looking to build long-term wealth, investing in the markets is a necessity. Unfortunately, those that are lazy with their personal finances may never get around to setting up an account, transferring funds over to the investment account, and allocation investments. One of the best ways that someone can get into their investment lives today would be by using an Acorn Investment application. With this application you will be able to have a certain amount of money deposited into your Acorn account automatically. You can then use an automated allocation systems that will help you to invest by using your pre-determined investment strategy.
One of the worst parts of being lazy with your money is that you may not have any clue how you are actually spending each month. One of the most simple and easy ways to get a better understanding of where your money is going is by using the Spending Tracker application. With this application, you will be able to link your bank accounts and credit cards to the application. Once you start using the application, you will be able to receive real-time feedback about where your money is going each month, how you are spending it, and variety of other information to give you a clearer picture and understanding of your finances.
If you make business expenses using your personal money and need to either claim a reimbursement later or deduct the expense on your taxes, making sure you keep records is very important. Those that are lazy about it could easily lose track of expenses, which is a pure waste of money. Fortunately, through the use of the One Receipt application, you will be able to quickly take a picture of your receipt and store it for later. This will give you a full detailed record of your purchases and help you remember to seek reimbursement in the future.