smart spending

Best iPhone personal finance apps

Iphone Applications: Budget Tracker Applications; Accounts; Ace Budget; Home Budget; Financial Assistance Applications; Mint; Personal Assistant; Loan Calculator Applications; Loan Calc Pro; Mortgage Calc Pro; MyLoan; My Loan Calc; Spending and Saving Applications; Debt Tracker Pro; Grocery Gadget; Money Pass

Budget tracker apps

Many banks and credit card companies have apps that allow customers to see balances as of a given date. However, there may be a timing gap between when expenditures are made and when the transaction shows up at the bank.

Diligent spenders should keep receipts and return home for input recording (either on paper or computer). These applications allow the user to enter data on the spot and keep track of bank balances and budget categories.

My top three picks in this category are:

Accounts by SVT Software: This is designed like a checkbook transaction register. The user is responsible for setting all the accounts and entering transactions. Once an initial balance is set up for each account, the application calculates the balance based on transactions added, categorized and assigned to a specific account. It has an easy-to-read report function that can be set up to record recurring transactions. The user interface is fairly easy-to-follow and the data can be e-mailed, exported into a spreadsheet or shared with another iPhone user. SyncDocs client for Windows needs to be used to back up the info to a laptop. This application is great for those who have the discipline to keep the data updated.

Ace Budget by SVT Software: Ace Budget is an easy-to-use financial application to help you track expenses and income based on an actual established budget. It requires you to put in the budget and subsequent transactions and then tracks how the expenses add up. It allows for categorization and detailed notes. It has a nice interface and great reports that are easy-to-read. Its reporting feature lets you see exactly where you are compared to your budget. As with the Accounts app, SyncDocs client for Windows needs to be used to back up the info to a laptop.

Dr. Don's favorite:

HomeBudget by Anishu: This application lets you manage account balances, budgets and bills. Like the previous two apps, you are responsible for setting all the accounts and budget figures, and entering transactions as you go along. You can set up credit and debit accounts, so it becomes like a register to keep account balances. The app syncs data with other iPhone users and will export to a desktop. You can take a picture of the receipt and associate it with a transaction on the same screen. The calendar feature is good for bill tracking. It is user-friendly and the developer was kind enough to post a user guide. I liked that this app offers a lot of reporting, with historical features that allow you look back and make comparisons.

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