Smartphones are the new prepaid solution for tight budgets

The Smart Phones these days no doubt are reputed for living up to their name. Apart from being the gaming den for game lovers and the absolute favourite of the socialites, it also renders various other options that may be of immense use to the public. Different applications may be downloaded over your smart phone that can make your life much easier than it as, prior to owning a smart phone. 

The smartphones nowadays have become a means of saving money and the apps available on tablets, iPhones and smartphones have made budget planning better. Many apps are coming nowadays that will let you deal with various financial aspects i.e. tracking the ups and downs of the share market, making you the uphill wall-street guy in the making. But the majorly helpful apps are the ones that help you trackyour expenses and spending. 

How do the Smart Phones help you in tracking your finances?

The smart phones are popular with all categories of people, but are immensely desirable among the students and the working class.

Monitor the expenses

These phones have particular apps that help individuals to monitor their expenses over a period of time, be it a few days, a week, a month or a full year. This in turn allows you to keep track of you’re spending over a span of time and this helps you to formulate your budget for the next few days, week or months.

Restriction on spending

The apps withheld you from over spending and ending up with a scarce amount of money at the end of the month. The money that you spend without giving a thought may have been utilized for paying for bills and buying essentials, a matter of dire importance.

How situation of debt arises?

At the end of the month when you are not left with enough money to pay for the important stuffs, that is when the problems start to arise. You start borrowing money from friends, take advances, the amount of debt increases, your bills are outstanding and you come under a constant vigilance of your creditors. Life will never seem more hopeless and impossible. The only solution to this is keeping a track of your expenses when the time is right.

Name of apps that track budgets:

Read more here about the apps available on smart phones that will save you from ending up in debt.

·         Mint,

·         Spending Tracker,

·         Expense Manager,

·         You Need a Budget (YNAB),

·         Ace Budget, Accounts,

·         Pocket Money,

·   Account Tracker, etc help you monitor your spending. The apps are often downloadable for free and are a budget freak’s dream. The sole motive of the apps are to keep a record of the amount you spend and where you spend it, things you spend your money on and whether they are essentials or not. 

The apps ping you with reminders if you are running low on cash or have over spent on a substance that you were not supposed to spend on. The smart phones are hence the solution for people with tight budgets.

This is a guest post written by Chritina Mariya on behalf of http://debt-settlement-review.toptenreviews.com/