This might seem like a no-brainer for some people. However, depending on what your have for expenses each month, you may want to dive deeper into what exactly you spend each month. Our Wise Spend Wednesday this week touches on tracking your bills.
Remember when you had to mail bill payments to your utilities, mortgage and credit card companies? Fortunately, consumers these days have plenty of options, including scheduling or paying bills online or employing apps and software to streamline the process.
Now, if you're old-school like me, you'd put together a detailed spreadsheet and check-off each bill as it's paid each month. If spreadsheets really aren't your "thing", and you want something far more automated, then give an app a try! In today's tech world, there are several easy options out there that will help you keep track of what goes in, what is spent, and what's leftover. CreditSoup breaks them down for you here, in no particular order:
8 Apps to Track Your Bills
Mint is one of the premier personal finance and money management software programs.
How it works: Track your expenses and have all of your bills in one place where you can look at them.
Rocket Money (formerly Truebill) is a subscription management tool. They can also cancel unwanted subscriptions so you don’t have to.
How it works: Plug in all your subscriptions, get notifications of when they are due & gives you the option to cancel if need be.
Prism is a bill-paying service. It lets you track and pay your bills in one app.
How it works: You download Prism on your phone or tablet, and you'll input your login information. The app will then sync your account balances and bills, and you can see them all at once. You can then pay bills from the app or schedule bills to be paid.
Quicken is a personal finance and money-management software that does a bit of everything, including more than just bill-paying services. It allows you to monitor your investments and create budgets, so you can better manage your finances.
Cost: $34.99 to $83.88/yr depending on the features you need.
How it works: Quicken Bill Manager, within Quicken, is the component that allows you to see all of your bills and pay them from your financial dashboard.
PocketGuard This is a money management and budgeting app. Your bank accounts, credit cards, loans and investments are all linked with this app, and you'll get a helpful report showing you how much money will be left over once you pay your bills and other expenses.
Cost: Free, but to get most of the perks, you'll have to pay for PocketGuard Pro, which is $4.99/mo or $34.99/yr
How it works: The Pro version has a lot of perks. You can track how you're spending your cash across multiple bank accounts and even manage ATM transactions. Does not offer bill-paying features.
You Need a Budget (YNAB) app uses a unique budgeting system. It makes sure every dollar is accounted for, whether for a bill or for fun.
Cost: Free trial for 34 days. After trial, it's $14.99/mo or $98.99/yr. Buy the year subscription to save in the long run.
How it works: It's an easy app to use and navigate, and overall an excellent app for budgeting. You can't actually pay your bills through this app, it's strictly for budgeting your income.
Goodbudget is an app that utilizes the "envelope method."
Cost: Free to use for creating 20 envelopes, $7 per month or $60 per year for unlimited envelopes with Goodbudget Plus
How it works: Budget monthly bills using an envelope feature that allows the user to visualize their spending and prioritize meeting different goals. Users can customize the envelope categories according to their needs, such as saving for an emergency fund or a vacation.
Expensify Track, approve, and pay your bills in Expensify. Strengthen your back office by simplifying your pre-accounting process.
Cost: Free for up to 25 SmartScans/mo, 6 week free trial for unlimited SmartScans, after that it's $4.99/mo for individuals or $5 per user, per month for groups
How it works: Individuals can track receipts and submit expenses to their employer. Users scan their receipts and the app will automatically read the receipt then translate it into a logged expense. Also offers mileage and GPS tracking and automatic credit card importing.
One Last Thing
Keep in mind that no matter whatever app you use, it's still a good idea to keep an eye on your bank account itself. Paying online is quick & easy, but still not 100% secure. Follow us here at CreditSoup for more weekly tips on saving money & living debt free!
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