Best Visuals: Mobills. Mobills organizes your expenses in categories so you can track your spending is progressing toward your budgeted amount. See the amount you have remaining to spend in each budget category so you can rein in your spending as needed. The budget planning app includes interactive charts that allow you to analyze your financial life; you can use them to make adjustments as you need to reach your larger financial goals. Add your credit cards to the app so you can see your current balance and spending limits all in one place. You can add all your bills and due dates to keep track of when your bills need to be paid. The free version of the app has limited functionality while upgrading to the premium version will give you full access to all the app’s features.
If your credit card issuer uses the average daily balance method to calculate your finance charge (check your credit card statement or terms and conditions to confirm), you can use these instructions to estimate your finance charge. You’ll need to have an idea of what your average credit card balance will be. Your credit card agreement may include a minimum finance charge that’s charged anytime your balance is subject to a finance charge. For example, your credit card terms may include a $1.00 minimum finance charge. If your calculated finance charge for a particular billing cycle is only $.65, you’ll be charged a $1.00 finance charge for that month.
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If you continued making minimum payments and no additional charges on this account, you’d pay $18.00 in finance charges over the course of a year. Why Does the Billing Cycle Matter? Credit card companies state your interest rate in terms of an annual percentage rate, or APR, to make it easier to compare various credit cards and loans. However, you are not charged interest on an annual basis. You’re charged interest periodically based on your billing cycle. Including the billing cycle in the finance charge calculation ensures you are charged interest only for that specific period of time.
How Much Is the Finance Charge? Finance charges are calculated each billing cycle based on your APR and credit card balance, so your exact finance charge will typically vary from month to month. Creditors have different methods of calculating finance charges based on how they calculate your balance. Credit card issuers may calculate your finance charge using your daily balance, an average of your daily balance, the balance at the beginning or end of the month, or your balance after payments have been applied. It’s now illegal for credit card issuers to charge a new finance charge on a balance you paid off in a previous billing cycle.
Skrooge’s most distinctive feature is the way it can import so many formats used by various banks. It’s KDE-based and will also run on Mac, although it may not run with Windows if you’re thinking about using it across multiple computers. Otherwise, your data can move pretty effortlessly across multiple devices. Skrooge also lends itself to more professional uses, so it can handle many small business needs. The undo/redo feature allows you to change your mind if something isn’t working properly. Skrooge works with multiple currencies and its reporting features even include videos.