Saturday, February 20, 2010

Hot iPhone App for Budgeting Those Fabulous Purchases

I often speak of busting the budget.  Well I found one iPhone app that I'm very happy I stumbled upon.  I told a couple of co-workers about it ... and they immediately wanted to know more.   With such enthusiastic responses, I thought it might be great to do a post on this one.

I've found it helpful with not only watching the budget, but also discouraging the reckless spending ... something I've been a little guilty of lately.  It's called Wealth Watch.

It's free - That's a beautiful start
It doesn't take much time to set it up- I'd say I spent @ 45 minutes

 You just enter your monthly income, expenses (bills, mortgage, insurance, savings, etc.) and budgets (food, entertainment, clothing, etc.).

This lovely little app then automatically computes your daily disposable income (DDI) - Facing reality in a way that's not intimidating is always good.  DDI is much less less intimidating than net worth or total debt.

I actually felt pretty good since I set my savings credit card expenses higher (dreaming of financial freedom) and still had a DDI that I could live with.

To track you spending, you just enter the amounts, dates and notes for each purchase (under the track tab) and you can quickly view a report of where your money is going, in addition to what's left.

Plus, tap on the about tab to hear from the creator/author ... there's more info plus a video to watch and info on the Wealth Watchers book - yep, I thought that was a good temptation, so I gave in.  To get the app, go to: Shop iTunes

Also - Have you ever heard a song you love but have no clue what it is?  Shazam is an iPhone app that can tell you the song, provide other info about the artist (including videos and tickets) and take you to iTunes to download the song.  For more info, go to: Shazam