Apps for Improving Personal Finance in 2015

Building your personal wealth today is one way to secure your future. Anyone who is capable of earning money on a regular basis has the potential to create more wealth for himself. It is a matter of having a financial goal and the determination to achieve it.

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Financial goals can range from reducing debts, having a positive net worth, or increasing the value of one’s asset. Setting a financial goal is the easy part, seeing it through can test one’s determination to improve personal finance. Here are some tips and apps to help you get a move on building personal wealth for 2015.

The road to improving your personal finance starts with learning how to budget, save, and invest your money. Budgeting involves managing your cash inflow and outflow. The simple rule here is never spend more than what you earn. List down your fixed income vs. fixed expenses and get the difference. If you end up with a positive result then you can use extra funds to build your future wealth. However, negative results mean that you have to find ways to either cut down on expenses or earn extra income.

Smartphone apps like Mint, My Budget Book, and Expensify can help you track earning and spending habits to help you manage your budget efficiently. There are also apps like IOU Debt Manager and Ready for Zero that may be used by those who have negative net worth due to debts.

Negative or break even cash flow can be improved without necessarily taking on an extra job. One can take advantage of discount deals to stretch their budget or find ways to eliminate unnecessary expenses. Coupons app and Stores app can help you find the latest discount deals so you can buy more items with less money. The extra funds you save can be used for investments.

A surefire way to build your personal finance is to put money in investments with higher yield than the inflation rate. Investments can range from bank placements, stocks, real estate, forex, etc. You may want to consult a financial advisor first before diving into these investments especially if you are not familiar with them.

There are also smartphone apps like Learnvest, Sigfig, Personal Capital, Bloomberg, and ACTEC Wealth Advisor that can help you learn more and manage your investments.

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