Cutting-Edge Financial Management at Your Fingertips
By Eva Norlyk Smith, Ph.D.
July 23, 2010
The internet has added a whole new dimension to personal finance management in the form of financial management sites, which enable users to track expenses, pay credit cards and other bills, create and update budgets, and even manage investments with the click of a mouse.
With the advent of the iPhone age, add to that some very worthwhile iPhone and other smart phone apps, which for the savvy user can render personal finance management completely mobile. A new breed of personal finance apps lets users pay credit cards and other bills in an instant, as well as manage all other aspects of their personal finances, whether they’re vacationing in the Norwegian mountains or commuting to work on the metro.
Here is a review of some of the leading full-scale personal finance apps for the iPhone and other mobile platforms currently on the market.
Jumsoft Money. For consumers looking for the benefits of budgeting software in addition to credit card and bank account management, Jumsoft Money offers one of the best sets of tools on the market. On top of offering bank, credit card, investment and bill monitoring, Jumsoft Money allows users to track spending and set a budget for each expense category. The simple, user-friendly interface provides expense reporting in the form of graphs and tables to show you how you are performing in different budget categories, and warn you if you’re about to exceed your budget.
Although designed to fulfill the needs of small businesses, clubs, and associations, Jumsoft Money requires no special accounting knowledge and is very easy to use. The app comes free of charge and features a synchronization feature that allows for automatic information exchange between desktop and iPhone versions of the program.
Mint.com. The Mint iPhone app features the same personal finance management tools as its parent website, which is one of the leading personal finance websites. Users can avail themselves of useful budgeting tools and instantly access their credit card and bank account information. Moreover, the Mint iPhone app helps users stay on top of their finances by offering alerts when cash or credit sinks low, a budget or credit limit has been breached, or a large purchase has been made. Credit cardholders concerned about fraud will appreciate receiving alerts indicating the detection of unusual spending activity, and those strapped for cash will appreciate receiving notification when a paycheck clears the bank.
Also, for anyone looking to get “the big picture,” Mint has recently updated their program to allow consumers to add their home value, car, bike, personal loans and more into their financial profile.
PageOnce Personal Assistant. Unlike the above two apps, PageOnce Personal Assistant is available across multiple smart phone platforms, including Blacberry, Android, and Windows Mobile. The app offers the same comprehensive personal finance management features as Jumsoft Money and Mint.com, and also adds numerous useful travel-related features. In addition to pulling up-to-date information from bank accounts, credit cards, and investment portfolios, this app also lets you view itineraries, flights, hotels, and even car rental information as well as track your frequent flyer miles earnings. Like the other personal finance apps, PageOnce adheres to the highest security standards to keep your credit card information and other important financial information safe.