As a famous series of commercials says, “There’s an app for that.” Seems to not matter what ‘that’ is, there certainly will be an app for it. App is short for application. We checked the calendar, noticed it was 2010, and assumed a few of you out there might be using cell phones. As a young investor, it makes sense to keep on top of the best money management apps out there. Here are a few that we really like.
1.Bloomberg mobile – take this uber-financial service titan with you everywhere. Check up on news, stock quotes, trend analysis, and more. By the way, did we mention it’s in real time and the app is free? That’s a great price no matter which way you slice it.
2.Paypal – is there any company more ubiquitous for the mad rush toward internet money transactions than this online financial jack-of-all-trades? Who doesn’t have a Paypal account any more and now you can check you balance, send money, and more from your iPhone, all accessed by the same user name and password established online already. There are some limitations – you still have to go online to check your transaction history and see when money has arrived but, once again, this app is free.
3.Day Bank – this powerful little doo-dad of a check register app is great for entering transactions and tracking spending. How about this – photograph receipts or items you purchase! Day Bank costs $1.99 but is an excellent way to not completely lose track of your banking account throughout the course of a busy day.
If you have yet to incorporate these three applications into your daily cell phone use, give them a try. The key to successful life as a young investor is to know how much money you have and what you’re spending it on. We all know how it trickles away through the process of frittering. Now you’ll know what you’re wasting it on.
The Young Wealth Team