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Thread: Budget and Finances Apps

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    Default Budget and Finances Apps

    Does anyone use an app to track finances and budget? I was going to sign up for mint, but apparently my main bank has a problem communicating with their software. If anyone uses another app and likes it, please let me know. I think it would be a fun way to encourage me to save more.

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    Default Re: Budget and Finances Apps

    you might want to check out LevelMoney. It's simplistic, but is capable of importing data from multiple bank and credit card accounts.

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    Default Re: Budget and Finances Apps

    I like Mint. It has an iPhone and android app.

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    Default Re: Budget and Finances Apps

    Is this risky at all? Inputting all your financial information in a third party app?

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    Default Re: Budget and Finances Apps

    ^^^ Forbes had this to say ... from

    (snip)"I love my smartphone. I use it all the time and it is my first reference point for almost any question. I have also come to depend on many of the apps to support my daily tasks. As more and more people become dependent on these apps, how do we know they are secure and protecting us from cyber risks?

    Celebrities have had their phones hacked and pictures stolen. Starbucks recently allowed that its phone app passed user passwords in clear text. Millions of Android users just found out that they are vulnerable to the Heartbleed security flaw. In fact, one study collected 8,260,509 unique malware installation packs targeted at mobile devices, the majority of which were aimed at stealing money or personal data.

    Everyday users have a responsibility to keep their phones secure by using strong (and unique!) passwords for your phone, your voicemail, and your phone accounts; installing security, encryption, and anti-malware software; and not going to untrustworthy sites. Companies that produce mobile apps, however, must do their part as well. As a consumer, I should be able to trust that mobile applications, especially ones that have sensitive data, have undergone sufficient security testing and evaluation. Oftentimes, speed to release trumps security evaluation and this pushes unacceptable risk onto unknowing consumers."(snip)


    In reference to the above, 'Mint' is the flagship app for personal finance / budget. It has been around for a while, thoroughly tested for resistance to known types of security breach attacks, is actively marketed with the implied 'blessing' of Apple and Samsung, etc. Other personal finance / budget apps may or may NOT have undergone an equal level of software scrutiny and security testing.

    Additionally, certain banks like B of A have elected to offer their own 'dedicated' apps ... sometimes in lieu of sharing data with 3rd party apps like Mint. While this doesn't actually assure that the bank's 'dedicated' app is any more secure than a 3rd party app, at least there's just one direction for finger-pointing if and when a security breach occurs.
    Last edited by Melonie; 04-23-2014 at 12:44 PM.

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    Default Re: Budget and Finances Apps

    Unfortunately none of these apps can communicate with US Bank. It's really annoying. I guess I will just have to settle for budgeting by willpower.

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    Default Re: Budget and Finances Apps

    ^^^ that's probably because US Bank markets their own apps ... probably for reasons of 'increased security' ! See

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    Default Re: Budget and Finances Apps

    I finally got Mint to work. I really like it. I think it is helping motivate me already, just wanting to see my overall debt number go down.

    Something I really like is that it allows you to set a goal like "pay off my student loans faster" and it will tell you which account to pay first based on interest rates. Even though I could figure that out myself, I think that is hugely helpful to people who might not realize what they should be doing.

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    Default Re: Budget and Finances Apps

    ^^'^ that's a very valid point ^^^

    From an 'investment' standpoint, people understand that earning a higher interest rate is a 'good' thing. They may not understand the risks they may be taking on principal value to get that higher interest rate, but that's a whole 'nuther story.

    At any rate, the flip side situation i.e. saving money via paying down / paying off debt carrying the highest de-facto interest rate / charges, works exactly the same way. In actual fact, it works even better since interest earnings are taxed while ( equivalent ) interest charge savings are not taxed.

    Agreed that, for the moment at least, Mint is the 'flagship' personal finance app ... mostly because it has so many 'useful' functions.

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