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

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AFP – German trade union Verdi has urged staff at the stock market operator Deutsche Boerse to protest in favour of jobs it says are threatened by a merger with NYSE Euronext, and to press for higher wages.

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Rich Dad, Poor Dad is written by Robert Kiyosaki and Sharon Lechter. It advocates financial independence through investing, real estate, owning businesses, and the use of finance protection tactics. According to Kiyosaki and Lechter, wealth is measured as the number of days the income from your assets will sustain you. Financial independence is achieved when your monthly income from assets exceeds your monthly expenses.

The book is the story of a person who has two fathers: the first was his biological father (the poor dad) and the other was the father of his childhood best friend, Mike (the rich dad). Both fathers taught the author how to achieve success but with very different approaches.

The educated poor dad but lacks financial literacy, because he does not acquire any valuable lessons about money, simply because it is never taught in school. Poor dad encourage their sons to do well in school so they could get a good job with a good company. Poor dad believed in working hard, and saving money. His poor dad worked hard but somehow never made it ahead financially.

While his little educated rich dad, deliberately takes advantage of the power of corporations and their personal knowledge of tax and accounting. Rich dad give him great lesson by paying him very low wages deliberately so that would stir anger and a sense of injustice and eventually for him to realize that in order to get ahead, one must work for himself and not for others.

Here are the major lessons from the book:

• The important thing to get rich is by having a strong purpose for living, a determination to be a successful person. You need to have the rich mentality. Instead of dwelling with the fact that you are not rich, ask your self “how can I make more money” because this will stimulates the brain to take action.
• In order to get rich, one must work for himself and not for others.
• Understands what assets and liabilities are. The rich build up the asset column and the poor build up the liability column (expenses). Make sure you have assets that gives you income, like real assets, stocks, bonds, mutual funds, income-producing real estate, notes, royalties from intellectual property, etc.
• Opportunities in life come and go; the rich recognize them instantly and turn them into gold bullions. Others do not see these opportunities.
• Corporations spend first, then pay taxes on anything that’s left, while individuals must pay taxes first. Individuals may not be aware that they work from January to mid-May to enrich the government by paying taxes on their income. In the meantime, the rich are hardly taxed.
• People should hire other people who are more intelligent than they because by capitalizing on the knowledge of others, an intelligent individual builds his own knowledge base and therefore has more power over those who don’t know.
• Direct marketing, and management skills (manage cash flow, systems) are important.
• Make friends with successful people and people who enjoy talking about money because they may have valuable lessons to share.Learn more from this amazing book:

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