Regardless of whether you are trying to save up for a big investment or you do not want to reach the point where debt becomes overwhelming, applications such as Personal Finance can come in handy. Not only do they help you get an overview of your current situation, but you can also figure out if you are throwing money out the window for things you do not need.
While the interface is clean and quite intuitive, first-time users could experience some troubles with adding the values to the default accounts the app provides. Nevertheless, you can check out the Help section, as it includes details and examples on how to include the accounts and articles that you are spending on.
The welcome window consists of a journal where you can preview a summary of your active accounts along with the passive and active debt. As you probably figured it out already, managing the accounts, articles, currencies, debt and your budget can be done by accessing their corresponding tabs. Therefore, you can easily find out the remaining invoices and other payments and the cash flow available without too much hassle.
In case you are dealing with debt, then you can consider using the Planning function included to write down all the big and small expenses that are due by the end of the month or next paycheck. When entering an expense, you are required to specify the name, transaction type, source, destination and the due amount. In a way, it can help reduce accidental payments from accounts that you commonly use for savings, for instance.
Other noteworthy tools that can lend a hand with managing debt are the reports and analysis. While the latter provides you with an overview of various turnovers or income you earned, the Reports include valuable information about the status of your accounts. The information can help you make more educated decisions so you avoid spending more than you have and accumulate more debt.
In the eventuality that you are struggling to manage your debt but are uncertain about the steps that you need to take to get control over the situation, then Personal Finance can help you set up a clear view of your financial status.