Expense Management

Expense Management

July 12, 2013

Money Mermaid Reveals Three Expense Management Apps

The market is always changing, and new financial issues are arising every day. Along with this arises the personal financial stress. When it comes to long-term personal financial goals, there are several potential tips and pitfalls that one should be aware of.

A recent survey of military families found that nearly two-thirds – 65 percent – of respondents experience stress related to their current financial condition. With financial responsibilities that are no different from those of ordinary U.S. citizens, military members need to be in control of their expenses to avoid financial stress.

Money Mermaid, a site that works hard to help people from all walks of life understand better financial planning, has said that managing one's expenses can be difficult for individuals who are on duty away from home. The company is now offering three expense management apps for the benefit of those away from home on duty. Accessible from anywhere and at any time, the top three apps were recommended on the eve of Independence Day, following a recent article in Yahoo! Finance that featured financial planning tips for military personnel returning from overseas deployment.

The three new apps for expense management are accessible to users on the Android (News - Alert) and iOS operating platforms. One of the apps, Expense Manager, is aimed at helping people record their expenses in detail by date, category, cash or bank card by the simple click of a button. This easy-to-use app is intended for those who think that financial planning is important but don’t understand or have the time for complicated housekeeping accounts.

Debt Tracker Pro is the second app, which has consolidated the debt for thousands of users. The app comes with several built-in payment strategies to help people with debt restructuring. One can even customize the app to create own payment strategy. Based on their payment strategy, the app automatically recommends a payment amount each month to take care of all someone's debts.

The third app is Visual Budget, which can help manage personal accounts “visually” with the help of a graphical representation of one's expenses. The key feature of this app is that it allows people to set up their own categories of expenses. People can even assign a budget for any category or sub-category of expenditure, and then monitor its progress graphically. The app is compatible with all iOS devices.

In a recent blog post, MoneyMermaid.com offered some excellent tips for men and women in uniform to get better at family financial planning. One such tip is, “Budgeting for essentials and pleasures is a great starting point.”

Edited by Alisen Downey

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