Pre-pandemic, were you overspending your income; maxing out your credit cards; poor credit rating; facing bankruptcy? We’ve been living in a plastic/Apple pay world and have had no idea what we were spending. As a result, too many are overspending, have too much credit card debt, and poor credit ratings. The quarantine gave us a break from our spending habits. We were buying from Amazon, but restaurants, shops, and other places we used to spend money were off the list. All of a sudden, we found more money in our bank accounts. The pandemic is ending and to protect our future we need to have better spending habits and controls. The best way is an easy-to-use budget and now, of course, there are apps for that.
Budgeting has many benefits including less stress – which all of us need! Budgets and accompanying reviews give people a grasp of what’s coming in and what’s going out.
They help you organize spending, ensure you spend only what you can afford, don’t max out your credit, and much more. Budgeting help people of all ages manage expenses and create and build funds for the future. Budgeting put you in control of your life.
As we come out of the pandemic it’s now or never. You don’t want to have a poor credit rating or worse, bankruptcy as it will be a huge weight on your back and follow you as you build your career and life.
Of course, you’ll need help. And help is available. The answer is budgeting apps which will require a slight change in habit but provide much relief. Most people use either “You Need a Budget” (YNAB) or Mint.
YNAB is designed to “help you break the paycheck-to-paycheck cycle, get out of debt, and save more money.” New users have saved up to $600 in the first two months of using the app and more than $6,000 in the first year. You can try the app for free for 34 days, and then you pay either $11.99 per month or $84 per year to continue using it after the free trial period has ended. Signing up for the annual rate instead of paying monthly will save you about $60. YNAB has stood out to be the best app for serious budgeting.
YNAB syncs to your bank accounts automatically along with credit cards and investment accounts. YNAB users choose where their money goes according to their needs and priorities. Categories include: eating out, memberships, rent, savings, and more. Since you are assigning every dollar a purpose, you’re becoming financially aware and have a visual plan laid out for you. The YNAB app helps you to adjust your wants and needs according to your budget. Users can change their budgets at any time and also set saving goals.
The Mint app is free and offers you various ways to save and track your money. Mint will send you alerts when you go over your budget and allows you to track spending by category or look at your cash-flow to get an overall sense of where your money goes monthly. Mint also lets you track your bills in one place and reminds you when upcoming payments are due. All of Mint’s services are free, including its credit monitoring service, but this app includes ads. According to many reviews, Mint is considered the best free budgeting app.
You deserve a better life but to do that you must manage your daily money and bills well. Don’t wait until your financial life is bleak. We at Personal Affairs Management Group specialize in budgeting for busy professionals, families, and seniors. We have a team devised to tackle and manage concerns that many may have. We are experts in daily money management and can help make sure you or your loved ones are spending and saving what is best for you.
If you have questions or need information about you or your loved one’s life management issues, please reach out to us. We at Personal Affairs Management Group are here to make your life simple, secure, and stress-free. Call at 305-646-1833 or email at Corrine@theseniorsanswer.com.
Corrine Markey
Founder and CEO
