The Need for
Budget Assistance
I need an app that will help me manage my spending so that I can get into the habit of having good finances when I enter the teaching workforce.
By Amanda Foreman
Possible Apps:
Intuit Mint allows you to track all of your accounts and spending in one convenient app. It utilizes bill reminders and informative assistance in creating the best budget for you. This could help me track all of my accounts at the same time.
GoodBudget implements a sharing system so that you can share your budget with family members, such as a spouse, and provides you with a spending report and optional budgeting methods. This could allow my household to be more aligned in our spending and billing.
Purpose:
I have elected to try GoodBudget. I am not as comfortable giving my bank account information to an unfamiliar app and I like the customization options of GoodBudget. It allows you to create envelopes for each bill or expense you have in a month. You are also given the option of linking your account to multiple devices so that you and your partner or family members can stay on track. Then it will generate a report to demonstrate your spending habits which allows you to make changes where you feel necessary.
Target Audience:
GoodBudget is aimed at anyone wishing to improve their money management skills.
Value Added:
The app allows me to budget and track my money without having to use physical envelopes or remove actual cash from the bank. While doing that would not be impossible, it is much safer and less of a hassle to do it digitally.
Ease of Use:
The app is very easy to navigate.
You can add and label your own envelopes, as well as use the provided suggestions.
The reports are easy to generate and use and help you better understand your spending.
Cost:
The app is initially free, however a subscription allows you:
Subscription fees:
$14.99 for 3 months
$24.99 for 6 months
Popularity:
According to GoodBudget’s app description it is the “Leading personal finance app downloaded over 850,000 times”
I think the ease of use and customization options that initially drew me to it are the same reasons it is as popular as it is now.
Fit:
Positives: Provides helpful budgeting aid and assistance in creating a more effective monthly budget.
Negatives: Could be easier to use and understand upon initial use.
References:
Money clipart, Retrieved from http://api.ning.com/files/dqttx2-U5qU9Sui3WEVU0YTFHVBdi*4HqjLc2VsV7ukBmlnRxW139TONzAO8BStFyvybtR5*NUhHb2W*6xd4WpmnTT3PmsGr/ShowImage.gif
Intuit logo, Retrieved from http://www.underconsideration.com/brandnew/archives/intuit_mint_logo_detail.png
GoodBudget logo, Retrieved from https://www.goodbudget.com/wp-content/uploads/2013/09/logo.png
“Purpose” clipart, Retrieved from http://clipartzebraz.com/cliparts/question-clip-art/cliparti1_question-clip-art_07.jpg
Phone $ icon, Retrieved from http://www.droidgalaxy.com/wp-content/uploads/2013/04/mobile-android-apps-for-money-finance-applications.jpg
“Follow the money” image, Retrieved from http://www.industryweek.com/site-files/industryweek.com/files/uploads/2014/03/chasing-money.jpg
Group of people image, Retrieved from http://kidzmatter.com/assets/Large-Group-People2-620x335.jpg
*All media hyperlinked throughout presentation