Are We Entering Into The Age Of Tablet Money Management? Comments32 Comments

Managing finances has been a concern consumers have had since the days beer was a form of currency. Although, money doesn’t buy happiness, it sure does help us to eat! Anyway, we’ve gone from trying to budget in our heads to budgeting with pen and paper, to budgeting through spreadsheets and other new age computer software. Now, it seems that there is a new, easier way to manage your finances that is really taking hold.

As I read around the personal finance blogosphere, I see more and more people talking about managing their finances on their tablets. Even Google Play has an entire store based around money management apps. With so much going on around this topic, being a financial writer, I decided to dig deeper into the concept and see what all the fuss is about.

Believe it or not, I didn’t have a tablet. I love my computer, and I’ve used tablets in the past that just didn’t jive with me. But, I had a buddy of mine had a Nexus 7 tablet that he let me use to manage money on a hypothetical basis. First off, like I said, I’ve used tablets before and, I wasn’t impressed, but that wasn’t the Nexus. That thing was pretty neat…I might even get my own soon. Anyway, we sat for about an hour checking out the different apps available.

After looking at the amount of available apps for money management, I was flabbergasted! There was no way we would get through all of the apps in an hour, let alone a year. So, we did the next best thing, we looked at as many apps as we could that had completely different qualities. Here’s what I found as we played around…

The first app we downloaded was Daily Expense Manager. It was a very simple app to use. The daily expense manager tracked your expenses of course, and it tracked your income! It also gives reminders for you to make your regular purchases. This incredibly light weight app was a gem as far as I’m concerned.

I was very happy with the Daily Expense Manager. So, I was naturally excited to see what else I could find. The next app we came across was Check – Bill & Money. I though the incredibly poor choice of name was going to be a prelude to a poor application, but I clicked on it anyway. Shockingly enough, I found out that CNN called it the Cadillac of money management apps. After reading that, I was pretty excited to download the app. This app reminds you when your bills are due. When you’re reminded you have the option to pay on the spot with no fee directly through your app! My buddy ended up keeping this one.

As we surfed through tons of other apps, I was hard pressed to find something that really grabbed my interest that is, until I came across the Make Money Fast: Easy Cash Bank app. This is a neat, light weight app that pays you to watch videos or play video games. I don’t mean pay you with gold coins on the screen, you actually get money sent to you through PayPal! So, not only can you manage your money with a tablet, you can make money too….it keeps getting better!

I’m a stickler for budgets, and that’s exactly what I looked for next. I went on the hunt for a budget app that would help to control a household budget. I quickly found the app, Monthly Budget. This was another that tracked income and expenses. What I really liked about this one was the analytics that it came with. It was very easy to look at a colorful graph and see where the budget could be improved.

Overall, I was pretty surprised with the entire process. The apps were designed to be easy to use, and basically do everything you need for you. I’m still pretty surprised about the make money on your tablet app. That was really neat. Personally, I don’t think I would give up my computer for a tablet, but I’ll definitely get one soon to use side by side. Thanks for reading everyone!

Reader Question

Do you use a tablet to manage your finances? If you could only use one machine to manage your money, which would it be, a tablet or a computer?

Author Bio: This post about tablet money management was written by Josh Rodriguez. Check out Josh at his blog CNA Finance where he writes about a wide variety of finance topics.

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This entry was posted in Financial Software, and tagged Comments32 Comments
By : Josh Rodriguez | 8 Oct 2013
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32 thoughts on “Are We Entering Into The Age Of Tablet Money Management?

  1. E.M.

    Thanks for sharing these! I have a tablet, but I don’t use it for money management. My only system is an excel spreadsheet at the moment, but it is not as fine tuned as it could be. Monthly Budget sounds interesting with the graph display. I may have to try it!

    Reply
  2. moneystepper

    I rely heavily upon Excel to manage my budgets and finances, and this is not easily managed on the tablet.

    I do, however, use my tablet to check my bank accounts and credit card statements, etc, as the apps are much quicker than signing in online on my computer.

    Reply
    1. Joshua Rodriguez

      Hey Kevin,

      They’re definitely fun! As far as more useful than a computer, not quite. I mean, on the go is really cool, but with a good laptop, you can get much more accomplished when it comes to running your blog on a computer. But, when it comes to quick, easy money management, tablets are the bees knees!

      Reply
    1. Joshua Rodriguez

      Hey Broke Millennial,

      As you can see from the article, I was against getting one for a long time. Computers are much more capable of helping you to accomplish important tasks. On the other hand, after playing around on the Nexus, I decided it was worth having one as well as my computer. Thanks for your comment!

      Reply
    1. Joshua Rodriguez

      Hey Kasey, thanks for your comment! Custom spreadsheets do make it easier to track the unique aspects of your budget, that’s for sure. But, they’re no fun. These days, if things are fun in some way, people won’t do them. The tablet factor makes monotonous, boring tasks a little more enjoyable.

      Reply
  3. Ankit

    It definitely is the age of tablet/smartphone money management. I personally swear by Mint app (for tracking my accounts and spending) and Bill Pin (splitting bills with friends). I haven’t had a luck with getting in the habit of using an expense manager but hopefully with time I should

    Reply
  4. Jacob | iHeartBudgets

    I don’t have a tablet, probably won’t be getting one soon, but use Mint.com for budgeting and tracking my money. Has some quirks, but it’s working out nicely. I’ve downloaded tons of phone apps, but never got into them. Since I’m on autopay, the bill reminder comes from my bank account directly.

    But if I had a tablet, I’d probably use an app to make things simple, and these do sound like decent choices :)

    Reply
    1. Joshua Rodriguez

      Hey Jacob, you can’t go wrong with auto-pay! You’ll never miss a payment, but how do you track what is left, where it goes and how to maximize the potential of your dollar? Thanks for your comment!

      Reply
  5. Katie (@AsktheYoPro)

    Did you get a chance to look at Mint.com or Venmo’s app? I use Mint.com pretty religiously and I’m starting to get the hang of Venmo.

    Reply
  6. ChanceCallan

    Love, love, love my iPad and seldom use my laptop. I keep the laptop so that I can run Netflix through the TV and still have my iPad to browse through while I am watching movies. As for finances, I have all the bills on autopay but can quickly go to each account to check on the balances. Do all my banking online with two different banks. Each month I prepare a Net Worth chart the old school way (on paper) but it takes me very little time to look up all the balances with our various investment companies. Everything is online and available, quickly and easily. If I have one complaint, it is that I used to love paying bills and juggling funds around and all that busy activity? Now all the bills are online so no mail to open, autopay means no mailings, online access means no physical statements. I can move money into and out of my investments whenever I want – simple…….but boring! I am going to check out mint.com and the other apps you mentioned. Thanks for the info….oh, and YOU will love a tablet too!

    Reply
    1. Joshua Rodriguez

      Hey Chance, thanks for swinging by! I got my tablet and I love it, but I’m not setting my computer down anytime soon! It’s a very versatile piece of machinarry to have, but like you will always have your pen and pad, I will always have my fingertips on a keyboard and hand on a mouse. I’ll play on the tablet and track some things as a backup to my computer tracking. It’s just a fun thing for me. None the less, I absolutely love the tablet! Thanks for swinging by!

      Reply
  7. Taynia | The Fiscal Flamingo

    I use a mix of paper (yes!) and electronic. I don’t think I could make the switch to tablet. I need a big screen. Ask me in a couple years though. I also said I would never switch from paper.

    Reply
  8. Micro

    I rely mainly on Mint’s mobile app because I am extremely lazy. I just can’t be motivated to enter in my expenses when all the information can be pulled so easily from my bank statements. However, I will normally default to my computer if I’m given the choice.

    Reply
  9. Christine @ ThePursuitofGreen

    I have a tablet but I mostly use it to check email and play games. Plus when I’m traveling it’s a good lightweight substitute for a computer. All my management is done via google docs so my husband and I can share it. I’ve tried using the google apps on my tablet, but really doesn’t work so well!

    Reply
    1. Joshua Rodriguez

      Hey Christine, I’ve heard that you have to pick and choose the apps you run…to put it frankly, some of them suck! I love Google Drive. I may do a tutorial on driving finances with Google Drive on my Monday Money column some day soon! Catchy… Anyway, thanks for swinging by, I’ll see ya around!

      Reply
  10. MoneyAhoy

    I’ll just stick with the computer… it’s more efficient to get in and get out. Tablets are good for content consumption, not entering and modifying data/numbers.

    Reply
    1. Joshua Rodriguez

      Hey MoneyAhoy, thanks for swinging by. I agree, it definitely takes more time to get a tablet going, but when it comes to things like tracking spending, it’s best to have something on the go. Of course, we can revert back to the old pen and pad to accomplish that and bring that data home for faster input on a computer. Or, we could save the receipts. A lot of people would love to do that, but they forget to input the numbers when their by a computer. So, on the run, tablets are great. At the end of the month, when you’re cleaning out your budget, computers are much better!

      Reply
  11. Karen

    I’m pretty old school when it comes to technology. I don’t have a tablet. I wrote a post last week ranting, rather than raving about it. I actually don’t use any apps when it comes to managing my money. Like many commenters, I use Excel and have been using Excel for quite some time to track my spending. I know I could easily make a graph with the numbers in Excel, but for me looking at the numbers helps me more than looking at a pie chart.

    As long as you are able to track your spending efficiently, I don’t think it really matters what app you use or which electronic device you use. It’s different for each individual. :)

    Reply

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