If you tend to carry a credit card balance rather than pay off your balance every month, then you’ve seen a finance charge added to your balance. Finance charges are applied to credit card balances that aren’t paid before the grace period. Unlike most other credit card fees, finance charges aren’t a flat fee. Instead, the finance charge is calculated for each billing cycle based on your balance and interest rate. Generally, higher balances and interest rates result in higher finance charges.
Before downloading transactions, you can select predefined periods of time for the transactions you want to see in the register, and it’s great to have this option, which is particularly helpful if you only want the past six month’s worth (for example) of transactions instead of two years worth. Not all personal finance software offers this option, and you can easily end up downloading months of transactions that you don’t want to track.
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If you’ve used other personal finance software, the account registers will look somewhat different with future bills showing up in the registers in a pale gray font. AceMoney supports scheduled transactions, which can be viewed in a list format or on a calendar. The bills calendar feature is a nice touch that’s not available in all desktop personal finance software. Entering Transactions: To enter a new financial transaction, click on the New Transaction button found on the left while using account registers. It brings up a window that allows you to enter the payee, the amount of the transaction, a check number and other details.
Best for Shared Expenses: Spendee. Many other personal finance apps are for individual use. Spendee allows you to create shared wallets with friends and family that you can use to manage shared expenses for a household budget. Import your bank transactions and let the app categorize them for you to tally how you’re spending money each month. You can manually add cash expenses for a more accurate picture of where your money goes. Keep from going over budget by creating budgeted amounts for each spending category and tracking your progress toward the budgeted amount. The bill tracker functionality ensures you remember to pay each of your bills and avoid late payment penalties. If you’re going on a trip or another special event, you can create a category specifically for that event to track your spending and keep yourself on budget.
These days, money and personal finance advice is easy to find. There are literally hundreds of books out there about managing your money. But finding good and practical personal finance advice? Now that’s a little more difficult. If you’re catching up on your reading, here are 10 great places to start when it comes to getting a handle on your money and personal finance. There is something here for everyone, from individual investors to couples and driven young professionals to those with less confidence in money management.