Budgeting with Your Phone
Gone are the days of envelope budgeting. It’s not that envelope budgeting didn’t work. Dividing up your money into separate, labeled envelopes for all your expenses totally makes sense. It was a great way to limit your expenses…when most people still carried cash. Unfortunately, envelope budgeting doesn’t quite cut it in the world of online banking and credit cards. However, you are probably carrying the next great budgeting tool with you right now: your cell phone.
There are apps for almost everything these days, so it’s no surprise that there are more than a few for personal finance. With an easy (and usually free) download, you can budget without envelopes. These apps can be connected to your MECE bank account, or you can manually enter your information to set budgeting goals and move that old envelop system into the digital age. However, some apps are better for this than others, so MECE has rounded up a few of the best to make your money management easier.
Mint was one of the first financial planning apps, and it has stood the test of time for a reason. Mint is free to download and use, connects easily to MECE accounts, and offers a wide variety of financial planning tools. The budgeting system on Mint automatically sorts your transactions from all connected accounts and cards to place them into a budget based on your needs. Mint offers easy ways to look at your budget as a whole to see where your money is going, and even sends you an alert if you’re about to go over budget.
You Need a Budget
You Need a Budget (or YNAB) is perfect for people who want to know where ALL their money goes. Seriously, every single dollar. YNAB lets you create a budget that covers all your income and places it into categories from grocery spending to saving and investments. YNAB can be connected to your other online accounts or you can enter your financial data manually, depending on what works for your budget. Have major financial goals? YNAB can help you track them; it’s great for debt payoff and savings tracking. YNAB is free to college students, so it’s great for young adults learning to budget on their own.
Just want a basic budget? Wally is for you. Simply enter the amount you want to budget and sort it into your preferred categories. You can even take a picture of your receipt, upload it on Wally and it will automatically sort the transaction. Wally is a free and convenient way to see where your money goes without a lot of extra technological fuss.
MECE Mobile Banking
Whether you’re eager to do some online budgeting with these apps or envelops are more your style, MECE Mobile Banking can help you keep track of your account balance, transfer funds, locate ATMs, or even deposit a check. Find in the Apple Store or on Google Play, or click here for more information.