Image | MyValue
Keep on top of your spending and put a little money away each month in savings. This is a goal most of us share. Some people use a spreadsheet on Excel, others prefer a paper and pencil, others simply don’t manage to keep track of their finances.
However, there are also those who look to new technology and who have discovered money management applications such as Fintonic, Myvalue and Ahorro.net. These applications allow their users to easily make sense of their finances, at a glance, and most importantly, see where the money is going and how best to adjust their spending in order to save a little more each day.
All of the applications we are going to look at in this article work in Spain. However it is important to note that many more money management applications are available for international users, the most famous being the American service Mint, which began in 2009 with an online service and has since developed apps for iOS and Android.
Fintonic is a free application available for iOS and Android that allows you to access all of your bank accounts. The application brings all of your finances together in a single space. You can check all of your latest card movements, account movements and bank notifications with a single glance. And if you are someone who likes to set a spending limit for the month you can see if you need to tighten the belt or whether you can permit yourself an extravagance. At the time of writing Fintonic has 305,003 active users.
Many will wonder if these types of applications are secure. This is a major priority for the developers as they are keenly aware of the devastating consequences for business a security breach would entail. Fintonic has the same levels of security as any online bank application. It is also exclusively a program for consulting your finances. In other words, transactions are not permitted between accounts and users are limited to reading about their finances.
Image | MyValue
MyValue is the most popular money management application in Spain, created by the technology company Financial Planning and Analysis. It was founded in 2009 by three young Spanish entrepeneurs and is supported by the Spanish Ministry of Economics and Competitiveness.
As with Fintonic, MyValue doesn’t uses the same security protocols that the banks use and is only a tool for consulting; transactions cannot be realised with the app.
Ahorro.net is an online application that in addition to allowing you to control your personal finances, helps you to increase your savings.
This is one of the characteristics that sets the app apart from the other two. Ahorro.net gives you personalised recommendations that will help you to improve your finances and save more money. A service you will appreciate if, minutes after seeing what you hare paying for your car insurance, they recommend another deal that is 20% cheaper.
As with Fintonic and MyValue, Ahorro.net offers apps for iOS and Android that allow users to monitor their finances (as well as the aformentioned saving tips) directly from their smartphones.
Oh, and by the way, all of these three applications are free. It won’t be necessary to add them to your list of expenses this March.