Guest-Post

Whether you’re on the road for business or desk-bound for five days per week, it’s tough to know what you’re spending your money on and how much is coming in. It’s understandable that with so many ways to pay (mail, online, over the phone, and in person), keeping track of money is a chore few of us stay on top of. It’s easy to forget to pay this bill or think that you’ve already taken care of another bill when in actuality you haven’t. It can be either frustrating or convenient when your bank holds the money from a bill for a couple of days, either allowing you a few days to put the money in the bank, or making you think that you have more money than you do.

Thankfully there are some convenient and easy to use tools to keep you on top of where your money is and how it is being spent, and when.

In the world of business, successfully keeping track of your money can be the difference between a sustainable business and failure. Cash flow is central to the survival and growth of any business, or an individual’s wealth. Therefore, managing your finances should be a top priority.

Although you may assume that managing your money is a tedious task best left to someone else, the reality is that with the new crop of online tools and apps, managing your money has never been easier. Now it is possible to see how much money you currently have, how much you owe and how much is owed to you with the click of a button, 24 hours a day.

So if you’ve come to realise the importance of managing and tracking what your money does and where it goes to, then it’s time to check out these tools of the trade.

1. Mint – a free service that allows users to access all of their personal finances online. Mint automatically pulls information from your bank, credit cards, debts, loans, and even gives you the option of making a personal budget so that you can know and see where your money is going and how best to distribute it. Mint also has a phone application, allowing you to view your finances no matter where you are.

2. inDinero – this is a sophisticated tool for businesses that allows you to watch the ebb and flow of your finances and can even make predictions for your financial future. Prices range from free, $29.95 a month, to $99.95 a month. inDinero allows you to see how well your business is doing. Similar to Mint, inDinero gathers all of your financial statements in one location, making it easier and faster for you to view them.

3. ClearCheckbook – a free and unique tool in that it allows you to see where your money is going. Think of it as a live checkbook that offers you up to date information and accurate balancing of your checkbook so that you know exactly how much money you have available rather than how much you might have available after a check or two clears. ClearCheck even offers you reminders for when to pay your bills.

4. SmartyPig – turns saving money from a chore into something a bit more fun. Although SmartyPig is free to use, there is a processor fee for gift cards. The site can be seen as a savings account where you can gain cash back savings. Savings can range from something like a wedding, a new TV, vacation, or just saving up some money for a rainy day.

5. CreditKarma – a fast and easy way to get your free credit score. Services are free and show users how they can improve their credit score and how they can save money on credit card offers, loans, and mortgages. CreditKarma allows you to see credit card offers that are just right for your particular financial situation and offers you detailed information about the credit card, allowing you to make an informed and smart intelligent decision before you apply.

6. BillQ – makes it easy to keep up with and track all of your bills. Costs for services range from free, $5 a month to $50 a year. Never pay another bill late or forget to pay one.

7. iWallet – a comprehensive app for the iPhone that allows users to track their budget, income, and expenses. The iWallet app is currently $2.99 and is in both English and Japanese.

8. Scribd – search the site for its free and easy to use templates to make and meet all of your financial goals with spreadsheets, like this Personal Monthly Budget Worksheet.

9. FreshBooks – the perfect tool for business owners, making it simple for them to track time, organise expenses, and invoice clients. Pricing ranges from free to $39.95 a month. Billing clients has never been easier.

10. Billster – a free online application and is great for looking at past, present, and deciding on future financial endeavours. With Billster you can fairly and easily divide bills between several people. The system stays up to date by keeping track of direct debits and standing orders. With the personal billing system you can organise and group bills according to category. You can even see how much money you spend every day and even how much you spend every year.

As you can see, there are several options available whether you need help with personal or business finances. Explore your options to see which is the best fit for you and your specifications.

Productivity does not start and end at the office. I’ve said in the past that finance is an area that you have to be productive as well. In fact you have to be productive at all fronts. You are presented in this post some useful money tools that you can use to your advantage. This is a guest post by David, co-founder at Credit Card Compare, one of Australia’s top independent services allowing consumers to compare balance transfer rates in order to pay less interest per month.