Invest money

Whilst we all have regular direct debits in place, including monthly household bills, unexpected costs can still take us by surprise and throw personal finances into disarray. Whether it’s a car repair or your hot water boiler decides to call it a day, this extra expense could be hugely damaging. It would be true to say that many of us are in a constant cycle of spending from the moment our wages come in until the next time we are paid. Keeping track of where your money has gone via the use of an iPhone application will allow you to visualise how much money you have spent and where exactly your money has gone.

With the price of goods in the UK increasing, such as fuel, transport, food and electricity, money management applications are becoming increasingly valuable in their own right. As many of them give you a clear breakdown on where your money has gone, you can work out where you need to decrease your monthly spend and the areas you can afford to spend a little more. There are a number of applications available in the Apple online store and you might be asking yourself, which one would be best for me? To help with this question we are going to take a look at some of the best apps to download for your phone in order to help you keep track of your spending.

First up on the list is iWallet. This nifty app allows you to view reports on your spending habits and email them in a PDF format. With this app, like many others available, you need to manually enter the amounts that you spend so that the programme can pull together all of your spending statistics.  Currently selling on the Apple store for around £3.00, it’s a good price and a popular choice for many people.

Another popular choice is MoneyBook, which is easy to use and features an appealing interface. One of the benefits of this application is you don’t need to be connected to the Internet in order to use it. MoneyBook features overview, expenses, recurring, and history tabs on the main menu and lets you set a monthly budget so that you can limit your spending in certain areas. If you are looking for an app which is simple but effective to use then this one is a good shout.

Mint is a particularly good app at keeping track of your spending because it will automatically update your transactions without you having to enter the information manually. But how is it able to do this? Well the technology is very clever, as it securely connects directly to your bank account and automatically categorises the transactions for you. If this wasn’t enough, the app even sends you an alert when it thinks there is a suspicious transaction coming out of your account.

There are literally hundreds of applications available on the Apple store and it really depends on what you are looking for. You might want an app that is easy to manage and maintain, or you might prefer one that features a report and statistics facility. Whatever your preferences, be sure to have a look at some of the ones mentioned above as they are popular choices for those looking to keep track of their finances. If you find that these apps don’t meet your requirements then look online and see if you can find a review of an app that is more likely to suit you. It’s all about finding what you want, sticking to your budgets, and watching where your money goes. 

Source: http://www.articlesbase.com/finance-articles/recommended-iphone-apps-to-keep-track-of-spending-5608467.html

Everyone has heard about credit cards and their advantages, but few of us know that there is a possibility for students to get a credit card specially designed for them. Whether this is a good or bad thing is a matter of various elements, but those who lack funds to pay tuition fees or other expenses related to school can make use of this product.

Student Credit Cards can be obtained by high school-, college- and university students. These cards’ primary characteristics are the better terms and conditions they provide compared to traditional credit cards. Isn’t it great? Besides being more advantageous, these cards provide students with an extraordinary opportunity to implement money-management skills and thus to prepare themselves for more complicated financial transactions and tools. Moreover, college and university students can make use of Student Credit Cards by building up an excellent credit-report. By using this card properly, these students can have such a good credit rating that will open them other financial opportunities after graduation, such as good-term loa ns with lower-than-average interest rates. These loa ns may be used to purchase car, house, or to go to a dream-holiday.

What should interested students know about the eligibility criteria and the application procedure? Almost anybody can get a Student Credit Card, but high school students can only obtain it if an adult co-signs their application. A minimum income declaration is also needed from this adult for security-reasons by the credit card company. Many people (especially parents) who have heard about this option for the first time are afraid of students being too naïve and unprepared for such a serious financial responsibility. However, there is a solution to this anxiety. Pre-paid credit cards are a good alternative for immature high-school students who need time to learn how to manage their personal finances. But a prepaid student credit card is safe enough and may help students to improve their money-management skills as well as to become aware of the existence of financial limits.

Second, College student credit cards

do require neither a minimum-income declaration nor an adult co-signer. These credit cards are quite common, and as a result there are various credit card companies offering them. Some of these companies’ incentives are attractive credit-limits, advantageous and simple repayment-options, discounts, bonus points, low interests, interest-free periods, 0% introductory APR (annual percentage rate) both for purchases and for balance-transfers, but the list is endless. So for college students who can use it in a responsible way, this card provides numberless benefits. Those who intend to get a College Student Credit Card are advised to shop around, ask the opinion of a more experienced person, and choose wisely!

Third, university students are offered an even more advantageous credit card. But these individuals have to be attentive enough to make balance payments in full and in time each month, as otherwise they will suffer due to high late payment fees that are charged.

Those who intend to get a Student Credit Card need to understand that these cards are very different from debit cards. The latter works as follows: the owner of a debit card can make purchases from the amount that is put on the account to which the card is attached. The amount of the purchase is deducted from the amount present at the declared bank-account. Student Credit Cards, on the other hand, have their principal amounts offered by the credit card issuer. So these cards practically work as a loa n: students are required to pay back the amount they have spent. There is a possibility of creating a monthly balance, but this can cost the card owner a lot, due to the high interest charged. So besides enjoying the benefits of credit cards, students should be aware of the drawbacks of not managing their finances responsibly. So they should only have a credit card if they are able to spend money carefully and can prevent adding up unnecessary expenses and debts.

Students interested in credit cards should know the important features of successfully selecting their first cards. Choose such a card that can build a good credit history for you. This is of primary importance from the viewpoint of students’ future finances. Based on a healthy credit history, lenders will provide students with good term loa ns in the future. Besides credit reporting, applicants have to pay attention to the type of the card. There are ‘secured’ and ‘unsecured’ student credit cards. Secured cards are given for those who can secure collateral against their future cards, or who provide a security deposit, while unsecured cards do not require any collateral from the applicant.

Secured Credit Cards are safer because parents can have better control over the spending of their child. Similarly, the card owner can only increase the spending-amount if somebody deposits more money into the account.

When making their decisions, students (and parents) are advised to take into consideration the lending institution, the charges, as well as their ability to make payments in time before accepting any deal. They should also read the credit card agreement carefully, and check the logo on the credit card. This may be a sign of the card issuer company’s reputability.

Finally, we can agree that student credit cards are more convenient than carrying cash. But students should not forget to pay attention to their spending habits and prevent accumulating interests and other charges. Be aware of the risks of possessing a credit card, but after having this knowledge do not forget to make use of the opportunities and benefits offered by this product!