Top 10 iPhone Apps for Personal Finance

There are many applications for the iPhone that give users the ability to make personal financing easier than ever. While solving one pain-in-the-neck issue, it creates another – which app to buy? Because of the popularity of these headache-reducing apps, there is an overwhelming amount of options available in the App Store. Deciphering which app is the best available is almost impossible. Add in the fact that so many aren’t free, and choosing the right one the first time around could save time and money. Before downloading anything, it’s important to know if the functionality of the app (money transferring, budget tracking, etc.) fits your needs. Provided is a list of ten apps including the price and primary function that can make tracking personal finances much easier.

Mint – There are tons of finance apps available that focus on budget tracking. Few are as popular as Mint, which allows users to manage multiple financial accounts from one simple user interface. With user-friendly features and no price tag, there is little wonder why this app has so many users.

Loan Shark – Dealing with loans is never a pleasant experience. The Loan Shark app helps ease some of the pain endured while handling loans without having to pay anything. It simplifies the process of calculating loans by a great deal and also has many features including a full amortization table, a one-tap extra payment option, and a “favorites” feature.

MoneyStrands – This app is another free option for tracking your budget. With features like alerts, analysis, security, and support, it is one to compare to Mint.

PageOnce – Planning long-term investments can be easy to put off. This app also assists in budgeting your current finances like MoneyStrands and Mint, but really excels in planning for the future. It gives you the ability to look at your 401k, IRA, and stocks all at the same time, while not costing you a cent.

Toshl – Toshl incorporates cloud computing into every day financing with this free app. The cloud feature allows users to automatically sync their mobile movements online. Additionally, there is a premium upgrade ($19.95/year) that allows users to export to Excel, PDF, or Google Docs among other features.

MoneyBook – MoneyBook is another addition to the long line of apps for budgeting. This one, however, comes at a price. Promoted as “Finance with Flair,” the app costs $2.99 and is loaded with features to make financing easier.

SplashMoney – At $4.99, what differentiates this from the free apps is its ability to connect wirelessly to most online bank accounts.

Square – The price is right for this free app that makes credit card purchases simpler than ever. By signing up, Square, Inc. will provide a credit card reader that can be attached directly to the iPhone. Once connected, users have the ability to swipe all major credit cards with only a 2.75% charge per swipe.

PayPal – Ebay-owned PayPal provides users a secure, simple way to send or receive money wirelessly.

General Banking – The bulk of major banks have available apps for free. These provide easy-access to any and all bank accounts in a secure fashion.

This is only a small example of the many, many apps that can help make financing easier. With the continuous release of new applications and updates to old ones, banking from your iPhone will continue to simplify; finding the app for doing so may not. This list is a great place to start looking.

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Where to Find Car Loan Low Interest Finance

You may be surprised to learn how much you will be able to save when you take out car loan low interest finance. If you have been working hard to negotiate the best sale price on your new car, you certainly won’t want to negate the savings you make by paying dearly for finance. There are many companies around who can offer you a good deal on an auto loan and, when looking for car finance, you should aim to pay the lowest rate you can.

When looking for car loan low interest finance you should ensure that you consider all options available to you. A lot of people feel more comfortable sticking with their own financial institutions or the larger bank lenders as they seem to think they will be able to provide the best loans at the best rates. This is not always the case. These days there are a large number of non-bank lenders who provide car loan low interest finance.

Probably the best place to start looking for car loan low interest finance is on the internet. The majority of non-bank loan providers operate solely online as it is an easy way to set up their business without having to outlay a lot of capital. These companies also have minimal running costs, so they can afford to offer car loan low interest finance and still make a reasonable profit.

It is important, when searching for car loan low interest finance, that you realize that interest rates can vary considerably between lenders these days. Ensure that you take the time to shop around and get as many quotes as possible, as you may never know when you will come across the perfect auto loan at the lowest price around. It is only by approaching as many lenders as you can that you will have any success in finding car loan low interest finance.

Looking for car loan low interest rate financing is quick and easy when you do it online. Not only can you compare lenders at a time that is convenient for you, but you will only need to enter your details once in order to receive multiple quotes. The other great thing about getting car loan low interest finance online is that the application process is incredibly straight forward. Once you have found a great rate from a reliable lender, you will be able to apply for your loan online by completing a standard application form. Your application will be submitted to your lender immediately and so the processing of your application is a lot faster.

One thing that you will need to be cautious about when getting car loan low interest finance online is that you will need to ensure that the lender you go with is legitimate and reputable. Sometimes a company that offers ridiculously low rates may not be the most trustworthy, so always take the time to find out more about a lender before signing on the dotted line. You can check out the business ratings of various lenders online through the Better Business Bureau or through auto finance review sites.

Business Finance

So you want to start up a new business? You’ve done your research into the existing businesses and checked out your competition whilst gaining some hands on experience along the way. You’re armed with your business plan, outlining your every move from your objectives, strategies, and target market to your financial forecast. There’s just one little hurdle left to leap over, the decision and arrangement of business finance.

More and more businesses and new ventures are failing to get anywhere past the starting line. There are two main reasons why most businesses fail; poor management plans and inadequate business capital, which is why raising money is important in the early stages of a business.

So why is this need for finance so important? As a new business you will need not only a place for your business to be housed in but also all of the necessary equipment that will be needed to make sure your business is running to its fullest. This start up capital will be used to pay for:

o The renting/buying of a premises/office space, which will require payment of three months in advance.

o Any machinery or office equipment

o Business services such as insurance

o The purchase of stock

o Wages and salaries

o Any financial cover you may need while waiting for customers to use your business

In order to gain the correct business finance and to make sure that people will be willing to invest in your business it is essential to have a well structured and developed business plan. It should state how your business will be different from the competition, why people will use your business and how you will supply your customers with what they require. Research has been conducted that has found companies with a structured business plan stating their overall goals and how they plan to move their business towards them make a considerably higher profit than those that don’t.

Most avenues that you chose to go down in order to secure business finance won’t come near your business without this business plan. So what are your options when it comes to business finance? There are many options open to you but that doesn’t mean that all of them are right for you.

One of the first places that people go to for business finance is there bank. Although banks are still the most common form of business finance it doesn’t automatically mean they are the best. All banks vary in terms of what they can offer start-up businesses, so it is important to talk to a number of them before making a decision. Banks will also expect you to put some of your own money into the business; as a new business venture you may not be able to afford this.

Another form of business finance is asset financing. This is a line of credit that is secured by assets such as real estate. So as a new business venture you can use these assets as collateral to obtain capital. However if payments aren’t made your assets may be seized.

An ever popular choice of Business Finance for a new business venture is a business angel. Business Angels are called this because they often save struggling firms with both finance and advice when no one else will. Angel investors understand the needs of a new business through there own experience and are able to advice and aid the companies in many ways. Business angels are successful entrepreneurs or executives. With their skill, luck, careful planning and good management; they have turned many businesses into profitable ones.

Finally there are venture capitalists who are private investors for financing new or growing businesses and even struggling established businesses. Even though they are high risk investments they can offer the potential for above average returns and/or a percentage of ownership of the company.

Helen Cox is the web master for Angel Start-ups, home of all your business finance [http://www.angelstartups.com/content/raisingfinance.php] needs.

Sources of Business Finance

Sources of business finance can be studied under the following heads:

(1) Short Term Finance:

Short-term finance is needed to fulfill the current needs of business. The current needs may include payment of taxes, salaries or wages, repair expenses, payment to creditor etc. The need for short term finance arises because sales revenues and purchase payments are not perfectly same at all the time. Sometimes sales can be low as compared to purchases. Further sales may be on credit while purchases are on cash. So short term finance is needed to match these disequilibrium.

Sources of short term finance are as follows:

(i) Bank Overdraft: Bank overdraft is very widely used source of business finance. Under this client can draw certain sum of money over and above his original account balance. Thus it is easier for the businessman to meet short term unexpected expenses.

(ii) Bill Discounting: Bills of exchange can be discounted at the banks. This provides cash to the holder of the bill which can be used to finance immediate needs.

(iii) Advances from Customers: Advances are primarily demanded and received for the confirmation of orders However, these are also used as source of financing the operations necessary to execute the job order.

(iv) Installment Purchases: Purchasing on installment gives more time to make payments. The deferred payments are used as a source of financing small expenses which are to be paid immediately.

(v) Bill of Lading: Bill of lading and other export and import documents are used as a guarantee to take loan from banks and that loan amount can be used as finance for a short time period.

(vi) Financial Institutions: Different financial institutions also help businessmen to get out of financial difficulties by providing short-term loans. Certain co-operative societies can arrange short term financial assistance for businessmen.

(vii) Trade Credit: It is the usual practice of the businessmen to buy raw material, store and spares on credit. Such transactions result in increasing accounts payable of the business which are to be paid after a certain time period. Goods are sold on cash and payment is made after 30, 60, or 90 days. This allows some freedom to businessmen in meeting financial difficulties.

(2) Medium Term Finance:

This finance is required to meet the medium term (1-5 years) requirements of the business. Such finances are basically required for the balancing, modernization and replacement of machinery and plant. These are also needed for re-engineering of the organization. They aid the management in completing medium term capital projects within planned time. Following are the sources of medium term finance:

(i) Commercial Banks: Commercial banks are the major source of medium term finance. They provide loans for different time-period against appropriate securities. At the termination of terms the loan can be re-negotiated, if required.

(ii) Hire Purchase: Hire purchase means buying on installments. It allows the business house to have the required goods with payments to be made in future in agreed installment. Needless to say that some interest is always charged on outstanding amount.

(iii) Financial Institutions: Several financial institutions such as SME Bank, Industrial Development Bank, etc., also provide medium and long-term finances. Besides providing finance they also provide technical and managerial assistance on different matters.

(iv) Debentures and TFCs: Debentures and TFCs (Terms Finance Certificates) are also used as a source of medium term finances. Debentures is an acknowledgement of loan from the company. It can be of any duration as agreed among the parties. The debenture holder enjoys return at a fixed rate of interest. Under Islamic mode of financing debentures has been replaced by TFCs.

(v) Insurance Companies: Insurance companies have a large pool of funds contributed by their policy holders. Insurance companies grant loans and make investments out of this pool. Such loans are the source of medium term financing for various businesses.

(3) Long Term Finance:

Long term finances are those that are required on permanent basis or for more than five years tenure. They are basically desired to meet structural changes in business or for heavy modernization expenses. These are also needed to initiate a new business plan or for a long term developmental projects. Following are its sources:

(i) Equity Shares: This method is most widely used all over the world to raise long term finance. Equity shares are subscribed by public to generate the capital base of a large scale business. The equity share holders shares the profit and loss of the business. This method is safe and secured, in a sense that amount once received is only paid back at the time of wounding up of the company.

(ii) Retained Earnings: Retained earnings are the reserves which are generated from the excess profits. In times of need they can be used to finance the business project. This is also called ploughing back of profits.

(iii) Leasing: Leasing is also a source of long term finance. With the help of leasing, new equipment can be acquired without any heavy outflow of cash.

(iv) Financial Institutions: Different financial institutions such as former PICIC also provide long term loans to business houses.

(v) Debentures: Debentures and Participation Term Certificates are also used as a source of long term financing.

Conclusion:

These are various sources of finance. In fact there is no hard and fast rule to differentiate among short and medium term sources or medium and long term sources. A source for example commercial bank can provide both a short term or a long term loan according to the needs of client. However, all these sources are frequently used in the modern business world for raising finances.

The Best Finance App

The best finance app, in my opinion, is Mint.com’s mobile app. Here is a list of its features and finance app alternatives if you prefer to use an app other than Mint.com.

Mint.com (Free)

I have been using mint for a long time now and believe it is the best finance app. Intuit bought this web site a while back so it is very secure, using bank level encryption.

Mint gives you a quick overview of your finances, which you can put on one of your main screens in the form of a widget. The widget will show your current cash amount and your credit debt. It will also show you the last time your information was updated, so you can be sure that you are looking at the most recent information.

Once you set up a monthly budget, you can access it with the app to make sure you are staying on track for the month. Mint is very good at knowing how to categorize your transactions for budgeting purposes and it will let you know if it does not know how to categorize a transaction.

The app automatically gives you alerts for various things, which include the availability of large deposits, what bills will are due in the next few days, etc.

You can get a very general picture of you investments with this app. By that, I mean if you simply want to know the balance of you accounts, you will be happy with this app. If you want to get more information about the performance of specific investments, you will need to go to the website.

To set up this app, I would suggest you log on to the main website to input all of you account information and set your budget. Once that is completed, you simply download the app, log in, and all your accounts are ready to go.

Adaptu Wallet (Currently Free)

Adaptu Wallet has many unique features like tracking loyal programs and creating spending forecasts. The app also allows you to store photos of insurance and business cards, which will decrease the clutter inside your wallet. The app is currently free, but the word on the street is they will start charging for usage sometime in 2012.

Pageonce (Free or $4.99 for Gold version)

Pageonce arguably has the best interface of all the finance apps. Your key account balances are placed in thumbnails that appear on the home screen. Contrary to popular belief, this app does provide PayPal support even though many claim it doesn’t. Balance updates are not as fast as Mint.com or Adaptu, some transactions take days to update. The Gold version has the useful ability to pay bills directly from the app, and this is the only finance app that can do this. The gold version also removes all the ads from your app.