Jason Gerber Discusses Budgeting Apps with Kiplinger

One of the most important pieces of a proper comprehensive financial plan is a budget that you strictly adhere to. In the modern age, budgeting apps can be incredibly helpful for those looking to do just that, making it easier to map out their cashflow, track their spending and allocate their resources to the appropriate categories. Unfortunately for consumers, a useful phone app and budgeting tool called Mint is officially shutting down, leaving its 3.6 million users looking for the next-best option.

Kiplinger, an outlet publishing business news and personal finance editorials, consulted Jason Gerber, our managing partner at PCIA Little Rock, in a discussion about potentially helpful budgeting apps. The story discussed different apps, how they might be of use, and who might be the target demographic for each. Some of those included You Need a Budget, Simplifi, Tiller, PocketGuard, Honeydue and Monarch, but Jason proposed Empower for investors.

The app called Empower, formerly known as Personal Capital, rounds up investment accounts with companies like Morgan Stanley and Fidelity and places them all in one place. It’s a one-stop shop that allows you to track holdings, allocations, progress and more on one convenient dashboard. You can also link saving and investing accounts like 529 plans, health savings accounts, home mortgage accounts and more, again helping you consolidate and organize your assets. The best part? The app is free for users who aren’t looking to add another service or subscription to their budgeting sheet.

This is just one of many tools available to consumers looking for more help or an easier way to track both their long-term savings and the day-to-day management of their cash. Still, however, while we will always recommend going the extra mile to track your expenditures and investments, Jason encourages everyone to adopt a hands-on, manual approach to budgeting. He says it’s important for both individuals and couples to review their finances, income and expenses to determine if they are appropriately spending and sufficiently saving. For individuals, it can be empowering, and for couples, it can be an efficient way to pursue goals and establish grounds for the financial conversation.

“You should consider meeting with a financial adviser to discuss the best way to meet your financial goals.”

We’d also always advise consulting a financial professional with any questions you may have about your finances as an individual, a couple or a business owner. As advisors, we may have insight and experience that you find valuable, and we can construct a holistic plan that accounts for each aspect of your life, as well as your long-term outlook and goals.

To read the entire article from Kiplinger as well as Jason’s complete comments, click right here.