INFOGRAPHIC: Real Money, Virtual Wallets

It’s a fact that having a budget helps you spend responsibly.  Unfortunately, only 1 in 3 families keeps a household budget. www.master-of-finance.org has created an infographic that details new ways to control your finances.  Let’s take a look!

Finances are complex.  The average American has a monthly mortgage payment of $1,061; an average utility bill of $163, a student loan payment of $290, a car payment of $428, and a credit card debt of over $4,500.  With these numbers, it’s easy to see why Americans need to utilize budgeting tools.  And in this digital age, it’s easier than ever.  Unfortunately, 55.8% of Americans do not use a website to manage their money, and 72.8% don’t use a smartphone tablet app to manage their money either.  The younger generations, however, have caught on.  Financial management app usage is three times higher for younger adults than older generations.

This infographic details some of the top financial apps, along with their features and cost.  Here’s the rundown:

iPhone Mint 
Cost: Free 
Special features: Link bank and credit card accounts; create budgets; spending notifications Spendee 
Cost: $1.99 
Special features: See overview of all expenses; track income and expenses BUDGT 
Cost: $0.99 
Special features: Track budget and/or income Check 
Cost: Free 
Special features: Track investments and credit scores Dollarbird 
Cost: $1.99 
Special features: Calendar view; track income and expenses 
Android
em>Pageonce 
Cost: Free 
Special features: Track income and expenses Mint 
Cost: Free
strong>Special features: Link bank and credit card accounts; create budgets; spending notifications Expense Manager 
Cost: Free 
Special features: Monitor spending in categories; see detailed reports MoneyWise 
Cost: Free 
Special features: Simple account management DroidWallet 
Cost: Free 
Special features: Enter balance and income
Best personal finance programs (software and Web-based): 
Program Price Platform
InEx Finance - Free - Online/mobile
Mint - Free - Online/mobile
iBank - $48 - Mac/mobile
CommonCents - $35 - Windows
Checkbook Ease Premium - $9 - Windows
Money Manager Ex - Free - Mac/Windows/Linux
ManageME 7 - Free - Online
iMoney - $40 - Mac/Windows/Linux
Checkbook Ease - $9 - Windows
Boachsoft Finance - $49 – Windows

There is literally an app for every system, and every device.  It’s important to take control of your finances, and the emergence of these tools makes it easier than ever.

Feel free to like, share, and comment on this infographic from www.master-of-finance.org!

Image compliments of Master of Finance Degrees