Resolution #3: Get your finances under control!

First of all, Happy New Year!

This is probably the most difficult of the new year’s resolution series for me (not directly mental health related), but I think maybe one of the most important- finances. I think along with losing weight (blog #3 in this series), getting out of debt and getting finances under control is a frequently made resolution. There are so many apps out there that it is difficult to know where to start in terms of reviews.

A first step, an app which you probably already have is the app for your own bank. A lot of these online services have bill pay, the ability to input upcoming bills, and make budgets. However, if you feel you need something else, consider one of the other apps.

I like Mint (www.mint.com), which is free. I used to use Quicken, which I loved, and Quicken is mostly replaced now by Mint. Mint can sync with your bank, credit cards, investments, and give you an up-to-date idea of your finances. You get a free credit score with them, and the app will help you make budgets and financial goals. You can get emails and notifications when you are behind in your goals, or over your budget. It can be hard to plan forward, however, with Quicken, because though it does have the ability to input expenses which have not cleared your bank, it isn’t always the best at recognizing the expense once it does clear- creating a double entry. Also, you have to be a little vigilant about making sure that your expenses are going in the right budget categories, though it mostly gets them correct. There is an Apple Watch version, too.

If you’re planning to use the Dave Ramsey method of financial management, but want to use your ATM card still, I found You Need A Budget to be very helpful (www.youneedabudget.com). The apps are free, but they sync to the desktop version, which is $50 per year. This one lends itself to the idea of the envelopes of cash earmarked for a specific purpose very well, and also syncs to your bank. The YNAB on-line bulletin board community is very active/helpful, and their customer service was quite good. A friend who paid off all his debt through the Dave Ramsey method also sings the praises of this app as well. There are free classes (budgeting, debt reduction, etc) via their website and I think this app has more of an educational angle, so if you’re clueless where to start, this can be a good place, along with bankrate.com, to get some information. There’s no Apple Watch app.

If you’re interested in trying to get control of your finances, but prefer the low-tech method, I also like the templates from www.vertex42.com. They have some great forms to use for budgeting and money management. When I need a calendar or spreadsheet for budgeting, this is usually my first stop.

I’m interested in what other people use for financial management- let me know in the comments below! There are so many apps, I would love your input!

Author: lisayoung57

I’m a Board Certified psychiatrist, practicing on the East Coast of the US. I started this blog because I love planning, efficiency, minimalism, and technology, but am also strongly interested in making life better! I strongly believe that personal technology can make our lives easier, and minimize the time we do things that are less important to us. I hope you’ll come along on the journey with me of how to combine high-tech and the best of low-tech to make our lives better. I love Apple products, and will write about about uses for them in my own life and others on these pages. I am not affiliated with Apple, or any other company. Other things I like to do are read, meditate, drink coffee and tea, travel, hike, cook and spend time with my husband and two children. I have recently written a textbook chapter for Oxford University Press. View all posts by lisayoung57