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In today’s ever changing, fast-moving, mobile-driven world, people are going crazy over the mobile apps that are going to help them be more efficient, teach them how to manage their time better, and make their lives easier. Financial management, one of the many daunting, and sometimes tedious, tasks that we’re all faced with each day, is no exception to this phenomenon, and there are plenty of top-rated apps to prove it.
1. Create a financial plan.
The most important way to keep your finances in check is to create a personal financial plan and try to stick to it. Start by creating a basic budget. Calculate how much you need to spend each month on mandatory expenses: rent or mortgage, utility and wireless bills, medical bills, food, student loans, and anything else. Compare the total with your monthly income. Can you afford to spend a bit more? If so, factor into your monthly costs the less mandatory costs: entertainment, travel, gym memberships, etc. Finally, subtract your total expenditures from your monthly income. The difference is how much extra money you have leftover for the month.