10 outstanding iPhone applications for your financial needs

by Mike | Posted in How to Get Your Finances Under Control | 6 Comments


As Frank Hubbard puts it, “The safe way to double your money is to fold it over once and put it in your pocket”. Do you think this is the only way out to save more money? No, it can never be this. Man is subjected to temptation and no one can ignore the sensation that money gives. However, the smarter way for you is to think and spend, than spend to think. If you are a geek or love gadgets, here is something very exciting for you. iPhone applications can now boost up your finances.

You wish to live life king size but at the same time want to control your outgoings. iPhones are craved by almost all gizmo lovers and so there are a number of personal finance applications that come as a package with it. Whether it is tracking your stocks, expenses or calculating your debts or converting currencies, you can have a real time pleasure with your iPhones. You can also manage all those multiple account woes or transfer money between your accounts with your iPhones. The very trendy GPS or WiFi helps users to find the nearest route to the ATM. You will get all these applications for a low cost.

Every time when you swipe your credit cards, you either end up paying huge bills or accumulate huge debts. What happens next is you consolidate debts in order to improve your bad credit history. Isn’t this complicated? Yes, indeed. The best way is to gorge on things that help you to lead a frugal life in style. So take a look at these 10 most stylish yet cost-effective finance iPhone applications:

  1. In the numero uno position, it is worth mentioning about an iPhone application from Bank of America that comes free. If you have an account here, you can surely find a quick view of this Mobile Banking in its web portal. This helps you to manage and check your balances, make bill payments or transfer funds round the clock. The USP of this application is its ability to detect the nearest ATM or banking center locations with the aid of GPS in the iPhone. You can be rest assured about Bank of America’s online banking guarantee. So there would be no unauthorized transactions. This is enabled by a special advanced encryption technology that would safeguard your online identity.
  2. Next in line is an iPhone application from PayPal and its absolutely free. You would no longer require opening up your wallets to make your payments. Do you know in Japan, people have almost given up using wallets as they are using this application? Right from train tickets till buying a beer from a vending machine, they are using iPhones. The PayPal iPhone application gives you complete access to your PayPal account for carrying out transactions and 16 currencies are supported by this application.
  3. Bloomberg Mobile is another aesthetically sound iPhone application. You get this for free. Wall Street Traders forge on Bloomberg Terminal for analyzing financial market data and also get the latest money news and price quotes. A very trendy yet useful mobile application from Bloomberg will give you real-time scoops, stock market updates and give you a brief insight into the market trends. As you rotate your phone horizontally, you will get larger charts and this is made possible with the help of the iPhone’s sensor device. Let the power of Bloomberg in your iPhone and stay financially alert.
  4. Have you heard about ATM Hunter from MasterCard? This also comes free. This is one of the best ATM locator or finder no matter where you are. This is just perfect for use in US and Canada. You just need to enter an address or an airport location in your iPhone GPS from anywhere. So now move around in style!
  5. The next most coveted finance iPhone application Tipulator. Wondering what is this? This is another out of the world iPhone application. It stands way above in the world of calculators. Wired.com said Tipulator is, “…an elegant, intuitive interface…” Whether converting currency or other calculations, everything can be done at ease. There is an innovative disclosure picker for selection of unit names. A revolutionary magic lens displays only the information that you ask for.
  6. E*Trade- another smart iPhone application is the best way to carry on stock trading as if you were on Wall Street. Get up-to-the-minute news and quotes, trade news or add to your watch list. There is another attraction as you get completely integrated historical and intraday charts as well as free streaming finance updates on your iPhone.
  7. Are you having trouble in borrowing or taking out a loan? Well, Loan Shark on your iPhone can help you do away with financial blues. As Foggynoggin says, “Navigating the waters of financial lending can be very dangerous indeed. Loan Shark helps you fight off predators and assists you in making sound financial decisions for you and your family.” After you get the detailed information about the loan you want to take out, just click on the Amortization button that will elucidate the monthly payment. Not only this, your interest rate for the loan can also be checked with this.
  8. Another venerable finance iPhone application is a mobile checkbook-PocketMoney that can track all your accounts and fulfill all transaction requirements based on payee. This will also generate essential reports and pie charts. PocketMoney gets its database files from the Palm version and Quicken Interchange Format (QIF).
  9. Are you an investor? There is one special iPhone application for you-Daily Finance. This comes free from AOL to receive current stock quotes, money news, track portfolios. So you will have the entire market updates at your fingertips.

10.  Last but not the least, it is important to detect your spending and keep a track of your money when you are shopping. This is one of the most favorite pastime for commoners but something that lands us in a soup if we do not regulate our finances. So Save Benjis has catered to this issue and with this you can transform your spending habits as you will instantly compare prices while going on a shopping spree! You need not carry your American Express Card. Instead do not forget to get yourself a Save Benjis application on your iPhone.

So if you want to save money in style, make use of these finance iPhone applications. Get away from age old methods and make use of your gadgets to bag more money into your pockets. Live smart and spent smartly!

author: Dorothy Anderson

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Is there a time to ignore your credit score?

by Stew | Posted in Money Management | 2 Comments

Dave Ramsey has done well for himself as a financial advice guru. He was one of the first people to recognize that our culture is steeped in debt, dependent on debt and that debt was enslaving the American culture. Ramsey has not been successful in changing our cultural dependence on debt, however, there are many individuals and families who owe him a great deal when it came to turning their financial house around. One of Dave Ramsey’s more controversial pieces of advice deals with FICO scores, also known as a credit score. Ramsey has said things such as: your credit score is an “I love debt score” and, Americans today are “worshiping at the altar of the FICO score.” He downplays the importance of a credit score on a regular basis and emphasizes his strategy of paying cash for everything.

I think that if you have had the misfortune of going into debt, a certain amount of credit score maintenance is necessary. My credit score has been checked by potential landlords, insurance companies and potential employers. Since credit was a big part of the last ten years of my life, I don’t want them to check my credit report and see bad news. I like my high credit score, but I do not plan to use it for financial credit ever again . . . I hope.

I did not realize how much I had been affected by Ramsey’s advice until the other day when I told a friend of mine to not worry about his credit score and actually delay repayment of a loan. I think I gave the correct advice. Here is the scenario:

“Vince” is in his early thirties, no children, single and has a limited criminal record. About five years ago, he trusted in Christ and began to attend our church. Although there are some consequences from his past that pop up now and then, he has pretty much forsaken the influences and habits that hurt him during his twenties. For the past five years, Vince has been sober, faithful to church, hard working and stayed out of trouble. Lately though, he has run into a string of bad luck – lost his job due to the economy, has been unable to get into college, had to move back with his parents. Then, two weeks ago, he was in a car accident – not his fault – that left his only vehicle totaled. To make things even worse, Vince had not purchased “gap insurance” – not a mistake that he will make again – but the fact still remains. Vince has no job, very little money and now he owes $2,000 on a car that he cannot even drive.

Vince is struggling to pay his rent and even purchase food, yet in the aftermath of the accident, he was worried about his credit score that he had been carefully cultivating for the last five years. He told me that he thought he could partially settle the balance of the car loan using IRS tax refund of about $1,500 that he was due to receive this month. I made the following suggestion to him:

  1. Forget the car loan for now.
  2. Use the tax refund to purchase a $400 or $500 beater.
  3. Save the balance of your refund to live on.
  4. Get the best job that you can find – fast food, janitorial, whatever – hopefully within walking distance of your house.
  5. Start paying on the loan again when you have regular income.
  6. Never use a loan to pay for a car again.

Vince’s response to me was, “but won’t that kill my credit score?” I told him that it would, but right now, he has much bigger fish to fry than FICO. Vince was almost ready to go without food in order to “please” his credit monitoring service. I believe that God expects us to settle our debts. Not paying or refusing to make payments on money that has been lent to us is sin. Vince definitely needs to eventually finish paying off the car loan because it is the right thing to do, however, right now, the credit score can wait.

Article by Stew

Photo by Library of Virginia

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Friday Gathering: I saw the sun Edition

by Stew | Posted in Uncategorized | No Comments

Spring is springing in my neck of the woods. I hope you see the light at the end of the winter tunnel where you live. Here are some articles that I recommend this week:

The second installment of my time saving articles was featured at the 246th Edition of the Carnival of Personal Finance.

An article about making money online, written by my boss was featured at the Carnival of Money Stories.

Dough Roller asked if renter’s insurance is worth the cost. My policy is eleven bucks a month. I think it is worth it.

Lynnae talks about the tension between quality and price.

Do you ever find yourself fascinated by things that you do not really understand? I did as I read an article about short selling stocks at Moolanomy. Whew! I will never do it, that is a pretty tension-filled way to live.

Another article about home insurance, Mrs. Micah encourages us to document our possessions for insurance purposes. Yep, I need to do that.

Do you block all that extra stuff on Facebook? Yeah, me too, but Mighty Bargain Hunter profiled the Buddy Bailout . . . I might be interested in that one.

That’s it, that’s the list! Hope you have a great weekend. Find a good church on Sunday and remember, do not just spend money, spend time with family.

Article by Stew

Photo by spisharam-AWAY

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How To Give Your Child An Allowance

by Mike | Posted in Kids and Money | 13 Comments


Before I start with this morning’s article, I want to ask you to vote for me in the Free Money Finance March Madness contest. The best personal finance article will win the right to give $1,000 (generously provided by FMM) to a charity of your choice. I have selected a charity that helps children. Please comment on this post with the word “figures”. Thx a million!

A few weeks ago, I wrote a quick 3 part series about how to teach your children about money. Teaching money management is probably one of the most important legacies you can prepare for your children. Making a budget, saving money and avoiding credit abuse are fundamentals that everyone should be aware of, especially our youth. One of the first tools you can use to teach your children about money is by giving them an allowance. However, there are certain rules to apply if you want your children to benefit from this experience.

Rule #1; present the allowance as a privilege

Money is not a given, it has to be earned. This is true at any age. If you give your child an allowance, he should know that it is not automatic. It is important to explain why he receives this allowance (keeping his room tidy, washing the dishes, etc.) and that not everybody receives one.

No matter the amount, the value of working and earning an income is more important than the allowance itself. On the other hand, I think that by telling your kids why they receive their allowance, it makes it easier to explain when they don’t do their chores.

Rule #2; no cash advances

Our children will learn faster than we expect to live off credit. And the first lender they will approach is the “Mom & Dad Bank; founded since your date of birth”. So don’t play the payday loan or cash advance service with your children. If they need more money to buy something, they will have to wait until it’s payday before cashing their allowance.

Rule #3; money is not everything

I am a big advocate of making more money year after year. But I don’t really believe in the almighty back; I like what it can give me access to; special moments, treats, comfort and security. As you will always find someone doing your job with a better pay check than yours, your son will surely find one of his friends making a bigger allowance (and maybe doing less work that he does!).

I don’t think the amount of the allowance matters. However, it will to your kid! This is why I will try to spend time with my son and explain that he does help us and we appreciate it. I will also tell him that it is the maximum amount I can give him right now and that we all have to learn to live with this amount; this is called budgeting ;-)

Rule #4; when should we give the first allowance?

This is always a big question. I am currently asking this question as my son will turn 5 this year and will start school this autumn. I didn’t talk about this with my wife yet but I think I will start when he enters school.

Receiving an allowance is also a milestone in a child’s life. This is living proof that he is growing and that he can become more responsible. Since he will start school, I think it would be a good way to show him that going to school is like going to work.

I don’t expect to give him much at first, especially since I want to start at such a young age. Probably $1 or $2 a week. Just so he can start calculating how much he makes per month and realize that he can go to the dollar store to buy a toy at the end of the month. It won’t really affect my budget and we will start a great money lesson.

Your take: How do you manage allowances?

As a young parent, I am not exactly quite sure how/when to give child allowance. What is your experience with kids and money?

Author: Mike.

Image source: yup that is my 2 kids ;-)

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Why go to bed early?

by Stew | Posted in Career | 10 Comments

A long time ago, Benjamin Franklin or somebody said: “Early to bed, early to rise, makes a man healthy, wealthy and wise.” When I was young, I had the habit of sleeping in on Saturday mornings, I remember stumbling up the stairs around 10 am and my dad said, “the day is half over!” When I started college, I quickly learned the benefits of getting up early in the morning. First period at my college was 7:20 am and I was assigned first period for my entire first year at school. The early class time was not my choice, but by the end of the fall semester, I learned to enjoy getting up early and continued the habit for most of my college career. I even started getting up early on Saturday mornings to spend time in the nearly empty library. I got so much more accomplished when there were no distractions (girls) in that venue.

The benefits of rising early are numerous and well-known. Even Scripture exhorts us to get out of bed: “O God, You are my God; Early will I seek You” (Psalm 63:1). The wife who “rises also while it is still night and gives food to her household” is praised in Proverbs 31:15 while the one who sleeps late is called sluggard:  “As a door turns on its hinges, so a sluggard turns on his bed” Proverbs 26:14. I am well aware that almost every area of my life improves with an habit of getting up early.

The difficult part is getting to bed early enough in order to enable me to rise early. It is just that when the kids are in bed, it is so nice to relax and watch a little tube or surf the net. Here are some motivations for the “early to bed” part:

  • Save electricity: think about how much less electricity you might save if you headed for bed at 10:30 pm rather than 11:30 pm? You could turn off all lights, the television, the computer and everything else.
  • Save heat: We always turn our heat down two or three degrees at night. Get under those covers and give your furnace a rest.
  • Quality time: Mrs. Stew and I interact more when the television and computers are off and we are just lying in the dark. Lot’s of good conversation and sometimes a little “conversation”.
  • Eat less: When I stay up late, I always end up snacking on something that I do not need. When I am in the “stay up late” cycle, I pretty much eat a fourth meal every night.

Get to be early tonight and hit the ground running tomorrow morning!

Article by Stew

Photo by rkramer62

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