Share this infographic on your site!
Embed this infographic on your site!
The editors at Master of Finance Degrees decided to research the topic of Real Money, Virtual WalletsWhile only about 1 in 3 Americans even keeps a household budget, times may be changing as new tools make it easier than ever to keep track of income, bills, loans and credit cards. But are we too slow to embrace these tools? Our Finances Are ComplexAverage monthly mortgage payment $1,061 Average utility bills per household $163 Average monthly student loan payment (standard 10-year repayment plan) $290 Average monthly payment for new car $428 Average credit card account balance per household $4,878 Average credit cards per cardholder 3.7 Lots of Help Is Available - But Many Aren't Using ItDozens of software programs and even free websites exist to help keep track of income, spending and savings. But most Americans still aren't taking advantage of the available tools. 55.8% Americans who do not use a website to manage their money 72.8% Americans who don't use a smartphone or tablet app to manage their money Generation gap Financial management app usage is about three times higher for younger adults than for older generations. Age group Percentage using smartphone or tablet app to manage money 18-24 33.3% 25-34 25.3% 35-44 30.7% 45-54 11.3% 55-64 11.1% What We Could Be UsingBest money management apps: 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 SOURCES- https://www.dailyfinance.com - https://townhall.com - https://www.imore.com - https://www.npr.org |