Being an entrepreneur means being in total control of your finances. There’s no room for questioning your money at any time – every penny, dime and debt should be accounted for. Unfortunately, many entrepreneurs get caught up in the paper trail, leading them to missed deductions come tax time and they eventually lose sight of financial clarity.
Thankfully you have one of the most useful tools for financial organization – your smartphone.
These four apps are absolutely incredible at budgeting your finances and keeping you on track with your fiscal responsibilities.
This simple app starts off by asking you some basic information: your regular income, your expenditures and if you want to save any money/how much money you want to save. From here, Daily Budget does all the work for you, giving you a financially beneficial road map to saving and keeping track of your cash.
You can also offer in variables, like extra money you receive or unexpected expenditures. Daily Budget will recalculate to forecast your current situation.
If you want to better track where your money is going, you need Mint. Whether you want to track bank accounts, investments or credit cards, Mint knows exactly where your money is at all times, coming or going.
Mint also has a budgeting feature, the capability to link bank accounts to the app, a financial over view and encryption so all of your data is safe within its vault.
Are you paranoid you’ll lose your smartphone containing a budgeting app with all of your bank information? That afterwards the app will be compromised and you’ll lose everything you have? If that’s true, weirder things have happened. For those who want to play it safe, try Wally.
This simple app budgets money without the need for information other than your email address. The work that Wally does is hypothetical and based on the information you give it, not what it reads from your cards or account statements. Give it a little more information and it can give you financial predictions, like how much you can spend per day to break even at the end of the month.
As an added bonus, the app does have a location feature that notes the purchases and guesses where they could have come from based on proximity. This helps the app to note purchase frequency and notes the payments as recurring.
This application lets users connect to credit cards and financial institutions, but their take on financial responsibility is perhaps a little different than others. Using the information it gleans from your bank account, Level Money creates a coded timeline of your transactions.
Level Money focuses more on being aware of where and how you spend your money versus budgeting your expenses, which is also something entrepreneurs need to focus on. If you frequently see purchases come in that could be cut, you have the potential to edit your spending habits to become more fiscally responsible.