Sometimes, the dashboard is the only page you need to see because it shows the most pertinent information about your financial situation, such as your account balances and pending bills.Ĭharts and graphs on the dashboard tell you, for example, your income versus spending and how you're doing with your budget. Get an Overview of Your Financial SituationĮvery personal finance service we review shows you a dashboard when you log in. The sooner you catch an unauthorized transaction, the quicker you can alert your bank and cut off access to the account. Seeing a list of all transactions across all your accounts in a personal finance app lets you see it as you can see it as soon as you log in. The best personal finance app for this kind of transaction management is Quicken Deluxe. In those circumstances, you can manually create a transaction. If you bought something with cash, though, your bank won't have a record of it. Some personal finance apps let you add notes and attach files. Rocket Money includes an option for this designation in its transaction details. For example, you might make a tag called tax-deductible, which gives you an easy way to pull up all your tax-deductible expenses at the end of the year. That way, you can search for transactions that are related in other ways. This information is crucial for budgeting as well as when tax preparation time rolls around.ĭepending on the personal finance app, you might be able to add tags to transactions, too. If you're conscientious about categorizing your income and spending, the apps will make charts and reports that accurately summarize where your money comes from and where it goes. So, if you go to one store and buy dog food and a new lamp, you can categorize the correct amounts as pet care and home furnishings. Most apps guess the categories, but you can always change them and split transactions among different categories. Transactions need to be correctly categorized for their type of income (salary, freelance payment, and interest, for example) or expenses (food, mortgage, utilities, and so on). What Can You Do With a Personal Finance App?Īfter importing a batch of transactions from credit cards and bank accounts into a personal finance app, most people spend some time cleaning up the data. Keep all your personal details, such as your date and city of birth, private because they can be used as authenticators to access financial data and accounts.īrushing up on the best practices for preventing identity theft is always a good idea.Yes, it takes some extra time, but not nearly as much time as reconstructing your financial life if you’re the victim of identity theft. Enable multi-factor authentication wherever it's supported-again, for logging into the personal finance app and any connected bank accounts.A password manager is the tool you'll want to use here. Use a unique username and password for your financial logins and the personal finance app.
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