apps

Ask the Readers: Do You Use Food Delivery Apps?

Ashley Jacobs — Tue, 24 Sep 2019 08:30:05 +0000

Food delivery services like GrubHub, UberEats, and DoorDash make it easy to enjoy restaurant food at home, even if the restaurant itself doesn't deliver. While the fees can get expensive, there's no denying the convenience when you're hankering for a certain cuisine but you don't want to go out.

Do you use food delivery apps? How often? Do you have a favorite?

Tell us whether you use food delivery apps and we'll enter you in a drawing to win a $20 Amazon Gift Card!

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Tell us whether you use food delivery apps and we'll enter you in a drawing to win a $20 Amazon Gift Card!

This article is from Ashley Jacobs of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

6 Apps That Help You Save on Prescriptions

Kat Tretina — Wed, 21 Nov 2018 09:00:12 +0000

If you have an ongoing health condition that requires prescription medication, you're well aware of how expensive it can be. Rising medication costs have increasingly hurt consumers' wallets — and their health. In fact, in a recent survey by Consumer Reports, 17 percent of respondents said they didn't fill a needed prescription due to cost.

However, skipping your medication because you can't afford it can put your health at risk and can worsen your medical conditions. Thankfully, there are apps that can help reduce your costs and make your prescriptions more affordable. (See also: The One Question You Need to Answer to Choose the Best Health Care Plan)

1. Easy Drug Card

The Easy Drug Card is a discount prescription app you can use to save money on your prescriptions, if you don't have insurance or if your insurance won't cover the cost of your medicine. What sets the Easy Drug Card apart from similar apps is that you can also use it to save on your pet's medications, too.

With the Easy Drug Card, you get a discount of up to 80 percent off your prescription price.

2. FamilyWize

FamilyWize is a free app where you can download or print off a discount card and use it at any major pharmacy. This app is for everyone, whether or not you have insurance. Hand the card to the pharmacist, and they'll enter the card's information. The FamilyWize card is accepted at all major pharmacies, and the average savings is 40 percent per prescription.

3. GoodRX

Most people go to the same pharmacy to fill all of their prescriptions. It's easy and quick, but you might be paying a premium for that convenience.

Prescription drug prices can vary widely from pharmacy to pharmacy, even if you have insurance. For example, if you needed to fill a prescription for Lipitor in the Orlando area, you'd pay $23 at Walgreens. But, if you're willing to drive to Costco, you'd pay just $10 for the same exact medicine.

However, you don't need to call each pharmacy to get a quote. GoodRX is an app that helps simplify the process. Just download the app and enter the name of your prescription and it will list the price of the medicine at local pharmacies near you. Even better, GoodRX also posts coupons you can use at each pharmacy to save money, too. (See also: 7 Smart Ways to Invest in Your Health)

4. ScriptSave WellRX

ScriptSave WellRx helps you find the lowest price on your medications and offers discounts to help you save even more money. Just enter the name of your medication and zip code, and the app will tell you which local pharmacy offers the cheapest price. Download the ScriptSave WellRX savings card, and you'll save up to 80 percent on your prescriptions. It's especially helpful for those without insurance or who have very high copays.

5. CVS ExtraCare

With the CVS ExtraCare app, you can manage your prescriptions and sign up for the Health Rewards program. With this program, you can earn credits that can be redeemed for Target coupons.

You earn a $5 coupon for every 10 credits you earn:

Fill or refill a prescription: 1 credit
Fill or refill a 90-day prescription: 3 credits
Sign up for pharmacy alerts: 1 credit
Sign up for email reminders: 1 credit
Get a flu shot or vaccine from an in-store pharmacist: 1 credit
Add prescriptions to your online account: 3 credits

As you can see, these credits add up, and you can use the coupons on most items in the store, including food, gifts, or housewares.

6. Walgreens

The Walgreens app is a comprehensive tool you can use to manage your family's prescriptions. You can transfer prescriptions, order refills, and even chat with a pharmacy expert through the app.

The app can also help you save money by earning points for filling your prescriptions:

Earn 100 points for every 30-day prescription picked up in-store.
Earn 300 points for every 90-day prescription.
Earn 100 points per vaccination.

Those points can be redeemed for discounts at the register.

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This article is from Kat Tretina of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

8 Things You No Longer Need to Keep in Your Wallet

Dr Penny Pincher — Wed, 24 Oct 2018 08:00:12 +0000

I recently noticed that most days, I never take my wallet out of my pocket at work. I always bring my lunch, and since I don't need to pay for anything else during the day, my wallet is basically dead weight. I decided to stop carrying it around altogether.

This walletless arrangement was convenient while I was at work, but I needed to remember it when I stopped to buy groceries or gas on the way home. After ending up in the checkout line without a way to pay a few times, I decided to set up mobile payment on my smartphone to avoid needing to run out to my car every time I forgot my wallet.

After my success leaving my wallet behind, I've come to realize that if you have a smartphone loaded with the right apps, you no longer need to carry around most of the things that are in your wallet. (See also: 5 Things to Never Keep in Your Wallet)

1. Credit cards

Mobile wallets allow you to use your smartphone instead of a credit card or cash to pay at a growing number of stores and restaurants. These apps are linked to one or more of your credit card accounts and transmit a payment code via near-field communication (NFC) technology to the retail terminal. Security measures are similar to using a chip card that produces a unique payment code for each transaction.

Here are some mobile wallet apps to check out:

2. Checks

Writing a check is one way to transfer money to someone else, but there are apps out there today that allow you to send money from your bank account to anyone simply by using their email address or username. Using a money transfer app means you don't need to carry checks in your wallet anymore.

Here are some mobile payment apps to check out:

3. Coupons

My coupon collection outgrew my wallet and overflowed into a small accordion file that I keep in my car. Is there any way to replace all of these paper coupons with something more convenient? The answer is yes; there's an app for that.

Here are some mobile couponing and cash back apps to check out:

4. Store loyalty cards

I used to carry several store loyalty cards in my wallet. These cards have a barcode on the back that the cashier scans so you can get perks and discounts when you shop at your favorite stores. But since you can ask the cashier to look up your store loyalty account using your phone number, you really don't need to carry the card around in your wallet. If you want a way to use loyalty cards without looking it up with your phone number, there are smartphone apps that can carry digital copies of your store loyalty cards.

Here are a few store loyalty apps to check out:

5. Contact info and account numbers

Another thing that keeps my wallet fat is business cards and small pieces of paper with important information written down — addresses, phone numbers, travel rewards program account numbers, and my consignment store account numbers. There's no longer a reason to carry stuff like this around and risk losing it or having it stolen. There are apps that let you store digital notes and keep contact information organized and available all the time.

Here are some digital note apps to check out:

6. Insurance cards

Every six months, I get new insurance cards for my car insurance policy and put one in my wallet. I also carry cards for my health, dental, and vision insurance policies. If you're putting your wallet on a diet, you can get digital insurance cards from many insurance providers to keep on your smartphone. If you want to take matters into your own hands, you can simply take a photo of your insurance cards and show the photo when someone needs your insurance information.

7. Photos

Wallet-sized photos were made for carrying around in your, well, wallet. But it has been decades since I've shown anyone photos in my wallet — I use my phone instead. I can store thousands of photos on my phone versus only a few in my wallet. Not to mention I can take pictures with my phone, too.

Apps to check out:

8. Receipts

It can be handy to keep receipts in your wallet in case you need to return something, but this can quickly make your wallet unwieldy. Use a smartphone app instead to digitize and organize your receipts and slim down your wallet.

Here are some receipt organizer apps to check out:

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This article is from Dr Penny Pincher of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

This Is How Free Money Management Apps Make Money

Tim Lemke — Tue, 09 Oct 2018 08:00:13 +0000

There are many smartphone apps designed to help make our financial lives easier. It’s now possible to manage nearly all aspects of our money — from budgeting, to investing, to sending money and making payments — through an app. And since many of these apps are free to use, it prompts the question as to how the operators make any money.

The business model for apps varies, but there are a variety of revenue streams ranging from advertising and referrals to subscription premium services. Let’s take a quick look at a half dozen of the most common financial app categories and their business models.

1. Money transfer apps

Do you need to pay someone, but don’t have cash and don’t want to bother with a check or money order? You can use money transfer apps to make payments and transfer cash instantly. In most cases, the app links to a bank account or credit card.

Some of the more popular money transfer apps include PayPal, Venmo, Cash App, and Dwolla, though there are many others. They are usually free to use, and they make money by charging a percentage of every transaction involving a credit card. Some apps, such as Venmo, also have a social feed component that could eventually lead to advertising revenue. (See also: The 5 Millennial Money Apps Everyone Should Use)

2. Account aggregators

These apps, which often also have desktop versions, allow users to link all of their financial accounts in order to see their full monetary situation in one view. This allows for easier tracking of spending and income, and there are some handy budgeting tools. Mint and Personal Capital are two of the more popular account aggregators.

Mint makes its money from a number of different sources, including advertising, product referrals (including credit cards), and from selling users’ aggregated financial data. Personal Capital, meanwhile, gets its revenue from the management fees tied to its separate robo-advising service. It collects 0.89 percent of the size of each portfolio under $1,000,000, and less as accounts grow larger. (See also: These 5 Apps Will Help You Finally Organize Your Money)

3. Investment apps

There are a number of new apps designed to make it easier for people to invest, including some that allow users to invest with small quantities of money. Acorns, for example, will round the cost of your purchases up to the nearest dollar and invest the difference. Acorns and its competitor Stash charge $1 per month until you have $5,000 in a portfolio (and in Stash's case, $2 a month for IRA balances under $5,000). After that, both services charge 0.25 percent of your account balance. (See also: How to Start Investing With Just $100)

4. Credit score checkers

There are a number of apps that allow users to learn their credit score and get alerts for any unusual activity on their credit report. Credit Karma, Credit Sesame, and WalletHub are popular apps that are free to use, but make money from targeted advertising, loan management, and referral partnerships with credit card providers. (See also: I Checked My Credit Score in 11 Places — Here's What I Learned)

5. Billing, invoicing, and time tracking

This group includes apps such as Harvest, which allows for time-sheet tracking, billing, online invoicing, and other services. Harvest is free for one person and two projects, but $12 per month, per person for unlimited projects. Similar apps have similar charges, but also make money if you use their payment processing features or pay for other upgrades. (See also: 5 Free Accounting Tools for Freelancers)

6. Bill paying

These apps can be similar to account aggregators, but allow users to make payments. Doxo is one app that allows for bill paying and offers a “digital filing cabinet.” Bill paying is often free, but users may be charged a fee if the provider is not part of the app’s network, or you pay using a credit card. (In the case of Doxo, this could be as much as 3.5 percent.)

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This article is from Tim Lemke of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

9 Ways to Save Big on Parking Costs

Tim Lemke — Tue, 12 Jun 2018 08:30:34 +0000

Have you ever given thought to how much money you spend just placing your car on a spot of land? When you think about it, paying to park is an enormous waste of money. Yet we do it anyway, and we often make matters much worse by being careless about how we park.

Parking fees and tickets can be a killer to your budget. But you can avoid parking costs with a little bit of planning and change of habits. Here's how.

1. Know when to go

In many cities, parking fees are lifted on certain days and times. For example, it's free to park almost anywhere in the District of Columbia on Sundays. If you intend to visit a location and take time to learn when parking fees are waived, you can then choose to travel during those times to avoid parking costs.

2. Give yourself time

We've all been in this situation: You're running late and park in the first spot you can find. You pull into an expensive garage because you don't have time to circle the neighborhood looking for street parking. It may cost you several dollars extra every time you park in a rush. My rule of thumb is to estimate how long it takes to get to a destination, especially in the city, and add 20 minutes to find acceptable parking. Budgeting less time often means settling for a spot that's unnecessarily costly.

3. Take advantage of a pretax parking plan

If you pay to park at your job, your employer may offer a pretax benefit, allowing you to take money out of each paycheck to pay for parking. By doing this, you reduce your taxable income slightly and may save some money. Your employer may also have other special discounts or parking plans for frequent parkers. Check with your company's human resources department to find out what parking programs they offer. (See also: 10 Things Besides Salary to Negotiate at Work)

4. Use a website to reserve parking

There are a number of websites that allow you to search for parking in garages or even the street, potentially saving you money if you pay in advance. These sites let you search for the cheapest spots in the area you'll be visiting. It definitely beats driving around cluelessly trying to find the best parking deal. I've personally used Parking Panda with some success, but there are others, including ParkWhiz.

5. Use an app to pay for parking

If you were unable to reserve parking in advance, you may be able to pay for metered parking using an app such as SpotHero or Parkmobile. These apps can help you avoid parking tickets because they tell you how much time is left on a meter and you can add money straight from the app — no running back to your car or scrambling to find change. Tip: Download the app via Wi-Fi before you depart for your destination to save time and data. (See also: The 11 Best Parking Apps for Your City)

6. Use an app to fight the ticket

Many people end up paying tickets they didn't deserve because they don't want to deal with the hassle and time of fighting them. Fortunately, there's an app for that. Several apps, in fact, will allow you to take a picture of your ticket and send it to a legal adviser, who will handle all of the work. Off The Record is one app capable of doing this. There are fees associated with these services, but some companies will offer you a full refund if you are found guilty.

7. Learn to parallel park

Many people will park in pricey garages or pay-to-park lots rather than the street because they don't know how to parallel park. Not only is street parking usually cheaper, but in fact, it's often free on certain days and times, assuming you know where to look.

Parallel parking is tricky, but it's a skill worth obtaining. You can impress your friends — or even a date — by fitting your car in a tight spot against the curb. (See also: Skills That Can Save You Money Part 1: Parallel Parking)

8. Don't drive

You can't get a parking ticket if you ride the trolley. You'll never overpay when you ride your bike. And you get a lot more exercise when you lace up your shoes and walk. There are a lot of great reasons to walk, bike, and take public transit to get places, and avoiding parking costs is certainly on the list.

9. Carpool

If you have five friends all heading to the same destination, there's no need for you to all drive separately. Carpooling will save you money on gas and, most importantly, parking. Imagine splitting a $20 parking fee down to $4 per person. This is why you have friends!

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This article is from Tim Lemke of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

12 Free Software Tools for Your Small Business

Samantha Stauf — Fri, 01 Jun 2018 08:30:28 +0000

Freelancers and small-business owners might not have the financial capital on hand to invest in all of the tools and apps that can help a business run smoothly. Thankfully, they don't need it — because plenty of free, open source software is available online at the click of a button.

Many of the free versions of business software cover, at minimum, the basic needs required by startups and self-employed individuals. Check out a few below. (See also: 6 Helpful Tools to Manage Your Small Business)

1. Google Drive

Google Drive is a free service that gives users access to spreadsheets, word processing, slideshows, and form software. The drive is tied to Gmail accounts. Each user has access to 15GB of cloud storage under a free account.

These free tools don't have the same level of robust options as Microsoft's suite of office software, but they offer most of the common features that small businesses will be looking for. As an added bonus, the documents are updated in real time, so it's a solid choice for companies that do real-time collaboration on projects.

Drive allows users to upload and download documents in a Microsoft format, so you will not have problems sharing documents with clients, customers, or partners who utilize Office.

2. LibreOffice

LibreOffice is a free collection of open source office tools that gives users access to downloadable spreadsheets, word processing, and presentation software. It's important that you only download the software on the LibreOffice website to avoid potential computer viruses.

LibreOffice is a pretty solid alternative to Microsoft Office. LibreOffice Writer has most of the major and minor features found in Microsoft Word. LibreOffice Calc also has similar features to Excel, but Microsoft macro and programming language can't be imported from Calc to Microsoft Excel. The presentation software (Impress) has similar compatibility issues with PowerPoint.

The bottom line is that LibreOffice is a good alternative if your business doesn't receive Excel files with macros and doesn't need to send presentations to individuals who utilize PowerPoint.

3. Evernote

Evernote is a "freemium" application (free to download and use, with additional paid features) that can be used for word processing, slideshows, note taking, and document storage. The main perk of the platform is the ability to easily store and organize various types of documents in one place.

The basic platform is free and allows users to upload 20MB of new content each month and sync it across two devices. It's a neat tool, but I wouldn't necessarily recommend it as your sole project management software. The basic freemium plan doesn't offer a robust means of sharing documents internally and externally.

4. Prezi

Prezi is online presentation software. A basic, free account allows individuals to create an unlimited number of presentations, but has no miscellaneous options, such as offline sync, privacy controls, or revocable shared links.

The tool, despite its limited scope, is worth evaluating because the presentations that can be created aren't typical, old-fashioned slideshows. Presentations are shown on large slides that offer the presenter smart capabilities like zooming in on certain details.

5. Trello

The basic, free version of project management software Trello gives members the ability to create an unlimited number of lists, cards, and checklists. Members can upload up to 10MB of files.

The free version of Trello only has two major downsides. First, basic accounts lack the ability to put the lists and cards into collections to make the system easier to navigate. Second, users aren't able to remove group members. The basic account relies heavily on the honor system and managers externally policing how individuals interact with the tool. As your company grows, you might want to invest in a paid project management and organization tool.

6. SurveyMonkey

SurveyMonkey is a survey creation tool. The free version allows individuals to create a 10 question survey. Each survey can have up to 100 responses.

Which should you use, Google Forms or Survey Monkey? Survey Monkey tends to be a tad more aesthetically pleasing, but Google Forms allow the survey to have more than 10 questions. I'd recommend using Google Forms if you regularly create long surveys.

7. Buffer

Buffer is a social media management platform that serves as a valuable marketing tool. A basic, free Buffer account allows users to manage up to three social accounts at one time. Each account can have 10 posts in the schedule queue.

Due to the limitations, I'd recommend this for businesses or individuals who don't rely heavily on preplanning a large number of social media posts. The free plan also, unfortunately, does not give users access to valuable analytics data for a more targeted social campaign.

Despite those restrictions, it can be a valuable tool for small businesses and freelancers until they can invest in a more robust social media management plan.

8. Google Hangouts

Google Hangouts allows organizations to create video calls, phone calls, and online chat forums. The tools are free and can be accessed through users' Gmail accounts.

Video and audio calls can have up to 10 active participants; individuals who video call can use screen share to give presentations, as well as share documents, websites, and videos. Google Conversations — the chat feature of Hangouts — can have up to 150 participants.

9. Slack

Slack's main function serves as a robust interface for team chat and collaboration. The free version also has the ability to make one-on-one voice and video calls, offers 5GB of file storage, and allows users to search through a history of the previous 10,000 messages.

10. Audacity

Audacity is open source audio editing software that can be downloaded on Microsoft, Mac, and Linux computers. You should only download the software from the official Audacity website.

Audacity allows users to import or record audio files. Once audio files are uploaded or recorded, they can be combined and edited. The first time a business or freelancer utilizes the software to create a piece of audio content, I'd recommend they consult one of the dozens of video guides available on YouTube. Experts of the software can, at the very least, give inexperienced recorders tips that might save them hours of work.

11. GIMP

GIMP is a free photo editing program that is compatible with most operating systems. Like LibreOffice and Audacity, GIMP should be downloaded from the official GIMP website.

It's important to note that GIMP, as an open source, community-built program, isn't as advanced as Adobe Photoshop. GIMP has basic editing functions, but lacks many of the higher quality functions present in Photoshop.

Entrepreneurs and self-employed individuals who either lack the capital to invest in Photoshop or don't require advanced photo editing software should give GIMP a try.

12. Canva

Canva is a "freemium" graphic design tool that lets businesses and freelancers create featured images and graphs that can be utilized on their websites, blogs, or promotional materials. Canva can be accessed online or by downloading the app on a variety of tablets and smartphones.

A free Canva account has 1GB of storage and gives up to 10 team members access to the software. Novice image editors can streamline the photo editing process by choosing one of the 8,000 image templates as a guide. Users can either upload their own images or purchase an image through Canva.

If you're not quite up to delving into GIMP for your photo editing needs, Canva can be easier to utilize.

This article is from Samantha Stauf of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: Best Apps for In-Store and Online Savings

Amy Lu — Mon, 07 May 2018 08:31:18 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found articles on the best money saving apps that you’ll use all the time, last minute DIY gifts for Mother’s Day, and inexpensive self-care tips.

5-Minute Finance: Track Your Spending

Ashley Eneriz — Wed, 11 Apr 2018 09:00:06 +0000

How often do you find yourself in the red at the end of each month, wondering where all your money went? If you're like many Americans, living paycheck to paycheck with too much debt and too little savings is your normal. But it doesn't have to be. There is a solution that can pull you out of your mindless spending habits, and it's a simple one; tracking your money.

What is tracking?

Tracking your finances is the act of writing down or digitally logging everything you spend for the month. This includes every expense, big and small, from your mortgage payment to that $2 soda you bought on a whim.

The goal is to find out how much you are spending compared to how much income you are bringing home. If you spend more than your monthly paychecks, you are probably relying on credit cards to fill the gap, which is driving you further into debt. If you are spending exactly what you make, you are not leaving yourself enough room in your budget to build an emergency fund, save for retirement, or pay down debt.

Think of tracking as a checkup for your finances. You need to see what your current financial state is so that you can improve it.

Why you should track your spending

If you constantly feel that you don't have enough cash each month, tracking solves the mystery of where your money is going. It'll show you the areas of your life where you are overspending or spending foolishly. Knowing where your money is going will allow you to address poor spending habits and get serious about financial goals, whether that be saving money for a down payment on a home or paying off your vehicles early.

There is a chance that you will discover that you cannot afford your current lifestyle. If you are only spending on the essentials and still don't have enough money to cover everything, you will either need to find a job that earns more money, take on a second job, or downgrade your current lifestyle. You may have to move into a smaller home, take your children out of private school or their costly extracurricular activities, or trade in pricey vehicles for more affordable ones. This is not the enjoyable side of tracking, but ignoring the facts will not make your situation easier or better.

How to start tracking your spending

There are several ways to track your spending, either with pen and paper, with simple computer programs like Excel, or with an app designed for tracking. The best method is the one you will use diligently.

For paper tracking

Any journal or notebook will work. You can also purchase an affordable expense tracker with designated pages that make it easier to keep track of bills and spending. Free tracking printables are available at Queen of Free and Simply Unscripted.

For computer tracking

A free Excel spreadsheet template may be all you need. Smart Sheets and SeedTime have free downloadable templates you can use.

If you prefer software to help you do your tracking, You Need a Budget is easy to use and allows you to input expenses manually. It does cost $83.99 a year, but you can try it free for 34 days. Personal Capital is a free program that connects to your financial accounts directly and shows you how much money you are spending in certain areas.

For mobile tracking

Mint is a popular free app that pulls info from your financial accounts automatically to make tracking easier. It also comes with a computer interface if you prefer to use it that way.

The BUDGT app is designed for those on small budgets and helps them get a better picture of their day by day spending.

Next steps

Once you know how much you are spending each month, you can find areas of your budget where you can make cuts. Cutting back on unnecessary spending will give you some breathing room to devote more money to debt, establish an emergency fund, or build a savings account.

Additional resources

These 5 Apps Will Help You Finally Organize Your Money
5 Online Tools to Manage Your Money in Under 10 Minutes a Week
Stop Using These 5 Excuses Not to Budget

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This article is from Ashley Eneriz of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Manage Money When You Hate Thinking About It

Mikey Rox — Tue, 27 Mar 2018 09:00:11 +0000

Love it or hate it, money matters. I've found that many people with consistent financial issues actually fear money and hate thinking about how to manage it. They don't know what to do with it, how to spend smartly, how to save wisely, or how to set financial goals that help hold them accountable to themselves.

If you fall into that category, help is here. Start picking up the pieces of your broken-down budget with these tips on how to get your dollars and cents in order — even when you dread it.

1. Automate everything

The more bills you put on autopilot, the less you'll have to think about what needs to go out and when. The key to this system working properly is keeping the required amount of money in your account so it's there on the due date. If you don't have the funds, you'll overdraft, which not only defeats the purpose of this simplification, but also puts you in an avoidable debt situation.

Almost all your bills can be automated these days. Christy Rakoczy, personal finance expert with Student Loan Hero, details how.

"Set up automatic bill pay to pay off your credit cards each month, and to pay utility bills, mortgage, rent, and other fixed expenditures. Other than checking your account balances once in a while, once you've automated everything, you should never need to think about money again. All your money will go exactly where it needs to and you'll know the cash left over in your checking account is for spending."

And bills aren't the only things you can automate. If you dread facing your retirement accounts dead-on, automate those, too.

"If you have a workplace 401(k) plan, talk to HR about setting up automatic contributions if you aren't already contributing," Rakoczy says. "You should contribute at least enough to get your employer match, but ideally as much as 10 to 15 percent of your income. If you don't have access to a 401(k), you can set up an IRA and make automatic contributions to that account as soon as your paycheck hits your bank account."

Once you've got your retirement accounts and bills automated, set up automatic transfers to other savings, such as an emergency fund, a vacation account, or an account to save for a house down payment. Whatever your goals are, have a dedicated account to save for them and move money automatically into that account each month. (See also: How to Use "Bucket Budgeting" to Overhaul Your Finances)

2. Enlist the help of apps

There's no shortage of personal finance and money management apps available to you — some more user-friendly than others. If you're having trouble tracking your cash flow, maybe it's time to give one a shot.

Mint, Personal Capital, and Intuit Turbo are just a few of many available tools that can help you track and manage things like upcoming bills, low balances, or unusual spending so you never miss a payment or spend more than you have. If you aren't someone who checks their bank account regularly, these reminders can help you stay on budget and know exactly where your money is going and where you need to cut back. (See also: These 5 Apps Will Help You Finally Organize Your Money)

3. Establish a "same place, same time" schedule

I'm a creature of habit, and if something isn't on my daily schedule or logged in my calendar, it probably won't be accomplished. Same goes for you, I bet. Rather than trying to manage your money and expenses as they come in, consider setting up a time when you know you'll be free and clear to "meet with your money" on a weekly, biweekly, or monthly basis.

Student Loan Hero personal finance expert Miranda Marquit sticks to this strategy to stay on top of her finances.

"Once a week, on Sunday evening, I take 15 minutes to scan my accounts and make sure everything is in line," she says. "Also, on the last Sunday of the month, I take an hour to reconcile my accounts. Because I have my bills and savings goals automated, all I have to do is check in. In total, I spend less than two hours a month managing my money. As long as my priorities are covered with automatic means, and I verify everything's where it should be, there's no real need to think about it a whole lot."

4. Stick to an all-cash system

I racked up a decent amount of credit card debt as soon as I turned 18 because I had no idea what I was doing. Happens to the best of us. But what I took away from that experience is that if I didn't have the money in my bank account for something nonessential, I had to live without it. That was the only way I was able to dig myself out of debt — sticking to an all-cash system and just saying no.

This could work for you, too. Once all your bills are paid, take out a budgeted amount of cash for what you might want and guide your spending based on those limitations. This tactic will also allow you to see money physically leave your hands, which is a proven deterrent to spending versus debit and credit cards where swipes mean nothing and can get out of hand before you know it. (See also: Is an All-Cash Diet Right for You?)

5. Adopt the 50/20/30 rule

Even if you despise managing money, it's important to implement spending parameters to keep yourself on track and avoid overspending. If you don't like the all-cash method, try a different approach, like the 50/20/30 rule.

"Spend only up to 50 percent of your after-tax income on essentials, such as housing; 20 percent on financial priorities, such as debt repayments and savings; and 30 percent on wants or lifestyle choices, such as dining or entertainment," advises Natasha Rachel Smith, personal finance expert at TopCashback.com. "By adopting a simple yet powerful rule, you can manage your money more effectively." (See also: How to Manage Your Money — No Budgeting Required)

6. Set a 10 percent total-income savings goal

If you regularly save 10 percent of your income, no matter how much you earn, you will always have the confidence of knowing you are living within your means. It will also pave the way for other financial milestones, such as saving for the down payment on a house or starting a college fund for your kids.

This may sound like an intimidating process, but it doesn't have to be. Carla Dearing, CEO of online financial wellness service Sum180, breaks it down further.

"Think of saving 10 percent as the way you empower yourself to make ongoing investments in your financial health, year after year," she says. "This is more easily achieved than you might think. Simply set up automatic bank transfers for the beginning of every month. By doing this, money you have earmarked to save is transferred from your checking to your savings account without you having to lift a finger and before you have a chance to spend it on something else."

7. Hire a financial planner

If you're someone who balks at the mention of money management, but also has enough disposable income to farm out the task, consider hiring a financial planner. They'll take the dirty work off your hands — for a fee — and provide advice on how you can make the most with what you have. Certainly you shouldn't spread yourself too thin by bringing a planner on board, but if you have extra money to invest in yourself, this is a good start. (See also: 3 Reasons to Be Picky When Hiring a Financial Planner)

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This article is from Mikey Rox of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Ask the Readers: What Personal Finance Apps Do You Use?

Ashley Jacobs — Tue, 06 Mar 2018 09:30:11 +0000

Editor's Note: Congratulations to Adam, Flint, and Mhepz for winning this week's contest!

Personal finance? There's an app for that! Hundreds, really. These days, you can find an app that will help you with any aspect of your personal finances, from couponing and budgeting to managing your banking and investments.

What personal finance apps do you use? Which one is your favorite, and what do you like most about it?

Tell us about the personal finance apps that you use and we'll enter you in a drawing to win a $20 Amazon Gift Card!

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Tell us about the personal finance apps that you use and we'll enter you in a drawing to win a $20 Amazon Gift Card!

This article is from Ashley Jacobs of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

First Rule of Financial Wins: Avoid Losses

Tim Lemke — Tue, 14 Nov 2017 09:31:09 +0000

The task of accumulating wealth and ensuring long-term financial security is often discussed alongside the idea of winning. And while it's fine to think of financial planning this way, it may be just as important to simply avoid losing. Smart investing involves looking for gains over time, but also escaping costly losses when the market goes down. Let's take a look at some ways we can "win" financially simply by avoiding losses.

1. Avoid overpriced stocks

The last thing you want is to buy a stock and immediately see it take a dive. If you are a young investor with a long time horizon, you can usually get away with putting your money in the market at any time. But it is important for anyone to avoid buying stocks when they are overvalued and perhaps due for a correction.

It's tempting to buy a stock if shares have been moving upward, because we all like to invest in companies that are doing well. At a certain point, however, share prices can be too high based on the company's earnings. It's important to learn the basics of how to tell if a stock is fairly valued.

A price-to-earnings ratio is an important consideration in valuing a stock. A P/E ratio is the share price divided by earnings-per-share (EPS). A P/E of more than 25 is on the high side, though P/Es vary by industry. Take time to learn what typical P/E ratios are for the sector you're looking to invest in.

Another rule of thumb to keep in mind: If a stock has been consistently setting new 52-week highs, it may be due for a pullback.

If a company's share prices seem overvalued, it's wise to practice patience or look elsewhere for better value. This will decrease your likelihood of losing money on the investment.

2. Know when to cut your losses

One common piece of investing advice is to stay the course and avoid panicking when shares of stock fall. This is sensible, but it should be balanced with an awareness of when to cut your losses.

There's a fine line between being patient and sticking with a dud investment for too long. It's OK to stick with an investment if the company's underlying financials are still strong, but if the company is seeing shrinking profit margins and revenues, or has completely lost its competitive advantage, it may be time to cut and run. In particular, hanging onto investments during major market downturns can result in massive losses that will take years to recover from. Some financial advisers suggest selling an investment if it drops more than 10 percent in a short amount of time. (See also: 10 Signs a Stock Is About to Tank)

3. Be truly diversified

Most investors know to avoid investing in too much of one thing. Diversification of investments is a key way to avoid a big loss. But sometimes, it's possible to think you are diversified when you aren't. For example, you may think you are diversifying your portfolio by investing in both U.S. based and international stocks. But have you considered that many U.S. companies already have a huge presence internationally? And even if you think you are diversified with various investments and asset classes, many investments still perform similarly, meaning that you're not as diversified as you think.

Financial advisers have varying thoughts on the ideal way to diversify. Of course, everyone's portfolio will differ depending on their age, risk tolerance, and projected retirement year. But the basic tenet applies: Don't be too invested in one area.

4. Watch out for investment fees

When you buy and sell stocks and other investments, you'll likely be stuck paying a variety of fees. There are transaction costs for every trade, and maintenance fees and other costs for mutual funds and ETFs. These are costs that are taken out of money you invest, so you not only lose money immediately, but lose out on its potential gains. This can add up to thousands of dollars in the long run.

Savvy investors know how to invest well while avoiding high costs. Discount brokerages such as Fidelity and Scottrade allow you to buy and sell stocks for as little as $4.95 per trade. Mutual fund companies including Vanguard, T. Rowe Price, and others have become more cognizant of fees, and are increasingly offering funds with super-low expense ratios. (Generally speaking, it's best look for funds that charge less than 1 percent for expenses.)

Keep your costs low when you invest, and you'll find that avoiding these "losses" can boost your gains.

5. Understand when the markets may be due for a dip

It's very difficult to time the stock market, and for young investors, it's a good idea to just invest as soon as you can. But it's also possible to avoid big losses by recognizing when the markets may be due for a correction. If it seems like stocks are priced too high based on their earnings, that's one bad sign. A slowdown in economic growth is another, and you should be wary of a spike in inflation and interest rates, too. It's also worth noting if companies are downgrading their earnings predictions for the upcoming quarter, as that could be a sign that business executives are pessimistic. If you recognize any or all of these signs, it may be worth waiting a while before investing too heavily.

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This article is from Tim Lemke of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

Best Money Tips: 20+ Best Apps for Selling Clothes

Amy Lu — Mon, 23 Oct 2017 08:30:10 +0000

Welcome to Wise Bread's Best Money Tips Roundup! Today we found articles on the best apps for selling clothes, Halloween decorations you can DIY, and ways to be more charismatic.

Flashback Friday: 88 Easy Ways to Get More Exercise

Chrissa Hardy — Fri, 20 Oct 2017 08:31:14 +0000

Working out is not easy. Conjuring up the motivation to work out is also not easy. When you're snuggled up in bed, the last thing you want to do is exit the blankets and pillows and move around enough to sweat. But unfortunately, it's a necessity to staying healthy, and well, alive. Take the effort out of it and get moving with these easy tips.

50 Ways to Make Exercise More Fun — In order to want to workout, it needs to not feel like a waking nightmare. It needs to be fun. Or at least, not completely terrible. These tips will give you that, so you never skip a workout again.

10 No-Sweat Workouts Perfect for the Workplace — A great way to get your daily workouts over and done with is to do them at work. That way, when you leave for the day, you won't have to head to the gym. These workouts are easy and won't cause you to sweat through your shirt.

6 Simple Ways to Get More Exercise Without Working Out — The best workouts are always the ones you don't even realize you're doing until you're done. If you take every possible opportunity to move more throughout the day by taking the stairs, parking further away, etc., you'll burn more calories without having to hit the treadmill.

7 Ways to Sneak More Exercise Into Your Busy Schedule — An excuse that we all use to get out of exercising is that we're "too busy" to make the time. We have things to do, meals to cook, and errands to run, so workouts land at the bottom of the to-do list. But if you set small active goals each day to move more, and practice healthier habits, you're on your way.

6 Apps That Pay You to Workout — We're all motivated by money, so why not use it to get us to move more? These apps will actually pay you to exercise, so you're officially out of excuses not to.

9 Quick Workouts You Can Do During Commercial Breaks — Even if you stream all your favorite shows, you'll still be stuck sitting through ads. During those quick breaks, hop off the couch and get moving. By the time the show returns, you've earned a break to sit back down.

This article is from Chrissa Hardy of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

9 Online Forums That'll Help You Reach Your Financial Goals

Annie Mueller — Tue, 19 Sep 2017 09:00:06 +0000

You've got financial goals, but why be lonely while you're reaching them? Find your tribe! Grow your group! Commit to your community! And reach those money goals faster with the help and advice of online friends who are focused on reaching the same goals with you.

Goal: Get better at money

Start here to master the personal finance basics.

1. Reddit personal finance

If you want to start being more aware of your money and more proactive in how you manage it, you can't find a better place than Reddit's personal finance subreddit. It's an active, friendly group full of down-to-earth people sharing real advice and tips and asking for insight from others.

2. Mr. Money Mustache Taxes forum

Getting better at finance means getting at least a little bit better at understanding and managing your taxes. The Mr. Money Mustache Taxes forum can help. Topics vary widely with the common theme of taxes bringing them all together. You'll see threads on everything from making IRA contributions, to dealing with an inheritance, to calculating self-employment tax.

Goal: Invest more

3. BiggerPockets forum

For real estate investment help and support, check out the BiggerPockets real estate investing forum. You'll find questions, answers, and plenty of advice on the subject. Topics cover everything from real estate taxes, to investment strategies, to landlord responsibilities.

4. Quora Returns On Investment

Quora is a massive Q&A website with a huge array of topics; dive into Returns On Investment to read questions and a variety of answers on the best methods and strategies for investing your money. You can also check out the Stock Market Investing page for even more information on investing.

Goal: Pay off debt

5. Money Saving Expert forum

This is a large and active forum with many financial-themed topics. Of particular interest for your debt repayment goals are the Debt-Free Wannabe and Mortgage-Free Wannabe threads. Join hundreds of members who are working their way toward their debt-free goals. It's encouraging to know you're not alone, and you can also find advice and tips for ways to be as efficient as possible with your repayment plans.

Goal: Stick to a budget

6. Frugal Village forums

How deep do you want to dive into changing your lifestyle to be a more frugal one? The Frugal Village forum can take you there. Topics get into detail, so you can explore the one you're most interested in. There are also several threads dedicated to specific money and frugal living challenges. For extra incentive, take on a challenge with your forum friends to cheer you on.

Goal: Save more money

7. Tip Yourself app and community

The Tip Yourself app (for iOS) gives you the option to, well, tip yourself. Forego that pricey coffee, new book, or other impulse purchase and give yourself the money instead, designating the amount in the app where you can watch the dollars in your own tip jar increase. The community feature makes this app fun to use; you can see what others are doing, comment and like their tips, and receive the same kind of encouragement for yourself. While you could easily do this yourself with a savings account, the interactive, community-oriented nature of Tip Yourself adds an element of fun that might spur you to save more than you normally would on your own.

8. CafeMom — The Family Piggy Bank

CafeMom is a popular site with all sorts of specialized groups; this particular one, The Family Piggy Bank, brings together moms who are doing their best to save, invest, and plan for a happy financial future for their families. You can join a daily savings challenge, ask a question, or find out how other families are saving money on everything from holiday gifts, family travel, food budgets, and life insurance.

Goal: Increase your income

9. Mr. Money Mustache Entrepreneurship forum

The forum on Entrepreneurship at Mr. Money Mustache is active and full of advice. You'll read real stories of people who are building up their own businesses in order to increase their income. You don't have to be a full-time entrepreneur or business owner to benefit from the knowledge shared here. In fact, it's a great community to be part of for encouragement as you turn your hobby or side hustle into something more profitable.

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This article is from Annie Mueller of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

How to Find the Savings Strategy That Works For You

Emily Guy Birken — Mon, 18 Sep 2017 08:30:05 +0000

Creating a savings strategy may sound like an odd concept. Saving money seems like a simple task — one that doesn't require much strategy on your part.

But saving money, like any other financial skill, can be set up to either fit in with your psychology, lifestyle, and preferences, or go against them. And just how successful can your savings plan be if your savings strategy doesn't work for you?

If you've ever struggled to save money, you might have been using the wrong strategy. Instead of following the same old failed savings path, try a strategy that works for you:

If you like getting something for nothing: Use a change jar or roundup app

When I was in high school, I was the person holding up every transaction by counting out exact change to the cashier, while my friend thought nothing of breaking a $20 bill. For a long time, I thought my friend was bad with money — until I learned what he did with all the loose change he gathered by breaking bills. Every few weeks, he'd take his change to the bank and deposit the money into a savings account.

My friend's habit was an excellent way for him to set money aside. He got to avoid counting out change at every transaction (which he hated doing), and he felt like he was getting a nice financial bonus every few weeks.

In 2017, change jars may not be as practical as they were in the 1990s, but you can consider using an app that offers a similar strategy. Apps like Acorns and Qoins recreate the feeling of throwing change in a jar. These apps round your purchases up to the nearest dollar, and use the difference to build your savings account or pay down debt. (See also: Spare Change Apps — Are They Worth It?)

If you like seeing progress toward a goal: Manually transfer your savings

Sometimes, the best motivation to do something is the same one your elementary school teacher offered: gold stars on progress charts. If this describes you, consider manually transferring money to your savings account every payday.

This may sound counterintuitive, since so much personal finance advice suggests automating your savings so you don't have to think about it. But if you're someone who feels great about seeing the progress made on a goal, manually transferring your savings will make you excited about doing it in the first place. It will motivate you to stick with it, and maybe even put more money aside.

In addition, actually creating a savings chart or other visual representation of your goal will help you stay on track and inspired to find more ways to save. That's because tracking your progress helps build a chain of good habits, and you want to keep that chain going until the good habits become second nature.

If you don't want to think about saving money: Deposit your whole paycheck into savings

Some people have trouble saving money, no matter how hard they try. If this describes you, why not set up your finances so that your money goes into savings before it hits your checking account?

Under this system, your entire paycheck is deposited into your savings account on payday. Once a month, you'll transfer the amount you need for your regular expenses and bills into your checking account.

When you follow this strategy, you'll automatically spend less than you earn and save money every month without having to think about it. The money has already been saved for you.

If you correctly calculated the amount you need to cover your monthly expenses, the money in your checking account should last until the following month. If you are running short before the end of those 30 days, you can decide to move more money from your savings account, or go on a spending ban (make no unnecessary purchases until the next month begins).

If you find that you're regularly adding a second transfer near the end of the month to make ends meet, take time to re-evaluate your expenses.

If you want to productively ignore your savings: Automate and use savings apps

Part of the problem with saving money is the fact that it becomes just another financial decision you have make. How much should you set aside? When should you make your transfer? Where will you find the money to put into savings?

If you'd rather skip the whole task of saving money instead of answering these questions, then automation is the right savings strategy for you. Setting up an automatic transfer from your paycheck into your savings account means that you don't have to think about putting the money aside. It's a seamless transfer of your money to savings.

Digit is one way to do this. Digit is an app that analyzes your cash flow. After syncing your accounts, about twice a week, the app will determine an amount of money ($5–$50) that is safe to transfer out of your checking account and into an FDIC-insured Digit deposit account. This is a simple way to save money without having to think about it. Digit is free for one month, and $2.99 per month thereafter. (See also: 5 MicroSaving Tools to Help You Start Saving Now)

If you have trouble prioritizing yourself: Treat your savings like a bill

Many of us have trouble putting ourselves first, including paying ourselves first. If you're someone who prides yourself on always paying bills on time, but who struggles to prioritize savings, then start treating your savings like a bill to pay.

Set up a reminder to transfer money to savings on the same day you pay your other regular bills. Making "savings" a bill when you are paying all your other bills makes it feel like a nonnegotiable, which will help you make it a priority.

If saving money bores you: Create targeted savings accounts

If you have trouble getting excited about saving money when there is so much fun stuff you could spend your money on, you're not alone. Having money funneled into a savings account can feel pretty boring if you don't have any specific plans for the cash.

You are much more likely to get excited about saving money if you have a set goal for your savings. This is partially due to something known as mental accounting, which is our tendency to value money differently depending on how it is physically and mentally labeled. You might not hesitate to "borrow" $400 from your general savings account for a couple of tickets to Jay-Z's 4:44 tour — but taking that money from your new car fund, on the other hand, would hurt.

Many online and traditional banks will allow you to create several targeted accounts, each with its own nickname. Taking the time to put a name to each one of your savings goals can help you save more and spend less.

Know thy savings self

Finding the best savings strategy for you starts with understanding your psychology and preferences when it comes to money. Working within those preferences makes saving money a much easier and far more satisfying prospect.

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This article is from Emily Guy Birken of Wise Bread, an award-winning personal finance and credit card comparison website. Read more great articles from Wise Bread:

apps

Ask the Readers: Do You Use Food Delivery Apps?

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6 Apps That Help You Save on Prescriptions

1. Easy Drug Card

2. FamilyWize

3. GoodRX

4. ScriptSave WellRX

5. CVS ExtraCare

6. Walgreens

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8 Things You No Longer Need to Keep in Your Wallet

1. Credit cards

2. Checks

3. Coupons

4. Store loyalty cards

5. Contact info and account numbers

6. Insurance cards

7. Photos

8. Receipts

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This Is How Free Money Management Apps Make Money

1. Money transfer apps

2. Account aggregators

3. Investment apps

4. Credit score checkers

5. Billing, invoicing, and time tracking

6. Bill paying

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9 Ways to Save Big on Parking Costs

1. Know when to go

2. Give yourself time

3. Take advantage of a pretax parking plan

4. Use a website to reserve parking

5. Use an app to pay for parking

6. Use an app to fight the ticket

7. Learn to parallel park

8. Don't drive

9. Carpool

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12 Free Software Tools for Your Small Business

1. Google Drive

2. LibreOffice

3. Evernote

4. Prezi

5. Trello

6. SurveyMonkey

7. Buffer

8. Google Hangouts

9. Slack

10. Audacity

11. GIMP

12. Canva

Best Money Tips: Best Apps for In-Store and Online Savings

Top 5 Articles

Other Essential Reading

5-Minute Finance: Track Your Spending

What is tracking?

Why you should track your spending

How to start tracking your spending

For paper tracking

For computer tracking

For mobile tracking

Next steps

Additional resources

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How to Manage Money When You Hate Thinking About It

1. Automate everything

2. Enlist the help of apps

3. Establish a "same place, same time" schedule

4. Stick to an all-cash system

5. Adopt the 50/20/30 rule

6. Set a 10 percent total-income savings goal

7. Hire a financial planner

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Ask the Readers: What Personal Finance Apps Do You Use?

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First Rule of Financial Wins: Avoid Losses