AFBN provides FREE RESOURCES for members of the Department of Defense including Active Duty Military, Federal Employees and their families. Get help with benefit and retirement questions. Get answers today!

  • Home
  • View All Articles

Budgeting apps, are they worth it?

Money management can be a daunting job, especially when you consider just how busy military families are. Budgeting apps are becoming an increasingly popular option and their features can be quite helpful. 

Here are some of the most popular budgeting apps:

1 – Mint

Ever since the conception of the budgeting app, Mint has been had the top spot. This free app will automatically update and categorize your banking transactions, giving you a detailed spending layout in real-time. You can also customize the app to fit your own personal budgeting needs, including purchases made using cash. If you’re looking for a smart app to pair with your bank account, Mint is a great place to get started. 

2 – YNAB

You Need a Budget, or YNAB, is for the committed, die-hard user. For about $84 a year you’ll receive technology that creates an envelope-based system to help limit spending to only the amount of money that you allocate. Another unique feature of this budgeting app is the ability to learn to live on last month’s income, helping families to wean off of the paycheck-to-paycheck mentality.

3 – Pocket Guard

Would you consider yourself a heavy spender? If so, Pocket Guard may be the perfect budgeting app for you. This app is engineered to keep track of your recurring expenses and then calculate your remaining spending money. Each day/week you will have a certain amount of money allotted to spend as you please, that way you never have to worry about overspending.

4 – Prism

Did somebody say bills? Prism takes pesky bills and puts them in their very own organized location, making your life easier. You can view your balances and pay your bills all within this easy-to-use mobile application. You’ll also never have to worry about missing a payment again, Prism will send you custom notifications to remind you when your bills are due. 

5 – Albert

Albert is a great app to help keep track of all of your accounts and it provides great recommendations for improving your financial health. Albert will read your spending habits and automatically create a budget based on your bills and income. One of the best parts of this budgeting app is the autosave feature. You decide how much of your paycheck you want to save and Albert will automatically place it in a savings account for you.

In our opinion, free budgeting apps can be a great start to a better financial future. Apps that require expensive payment plans are often less of a help and more of a burden. We recommend working with a financial professional for a more personalized strategy that will meet your family’s needs. Here at AFBN we understand the specific needs and challenges of military families, contact us today to schedule your first appointment.

Continue Reading No Comments

Successful Finances in 2019: Plan for a better financial future

If you are like most military families, bills, money and finances, in general, are fresh in your mind. Most military families have credit card debt, mortgage payments, large grocery bills, auto loans and countless other bills and expenses required to support and raise a family.

Continue Reading No Comments

Military Family Finances: Preparing for holiday expenses in 2018

Every store we visit right now is bombarded with marketing posters, ads with sales on toys, holiday decorations, the latest electronics to look for and more. With all of the distractions, military families are often enticed by the buzz of holiday shopping. Are you tempted to spend too much this holiday season? Check out these quick tips on how to enjoy the holiday shopping season, while not derailing your future financial health.

Continue Reading No Comments

Setting up an Emergency Fund

It’s an unpleasant thought, but a financial crisis could strike when you least expect it, so you’ll want to be prepared. Protect yourself by setting up a cash reserve so you have funds available in the event you’re confronted with an unexpected expense. Otherwise you may need to use money that you have earmarked for another purpose–such as a down payment on a home–or go into debt.

Continue Reading No Comments

Technology for Managing your Finances

Access to technology is a major advantage that benefits military families for helping manage finances.

These days, there’s virtually an app or a program for everything, and that includes financial basics. Do your homework and find out which ones could be the most helpful to you. Do you need alerts to remind you to pay bills on time? Do you need help organizing your finances? Are you looking for a program that allows you to examine your bank, credit card, investment, and loan account activities all at once?

Continue Reading No Comments

Big Changes in Military Retirement

While establishing goals for 2017, military members have critical decisions to make this year that could have huge implications to retirement planning and savings. Military ​retirement reform ​became law in November 2015 and takes effect officially on Jan. 1, 2018.

How does the new law impact military members?

The new law creates big changes for how retirement compensation is structured.

Continue Reading No Comments

What’s your financial big picture?

As a military member, you may already have a basic plan laid out for your future. You may be planning to start a family, purchase a home, or shop for a new vehicle. Either way, the best financial plans start with a big picture. With 2017 already in full swing, take the time to reflect on your specific goals, outside of how much they may cost or how limited you may feel your resources are.

Continue Reading No Comments

Military Finances: How to select a credit card

Like dandelions in a spring lawn, credit card offers pop up everywhere–stuffing your mailbox, flashing on the Internet, even falling from the magazines in your doctor’s waiting room. And they all sound so attractive. “0% APR until next year!” “No fee if you transfer a balance now!” “Low fixed rate!” You’re thinking of applying for a card, but how do you decide which offer is best for you?

Continue Reading No Comments

The latest on Twitter

Follow us to get all the latest events, news and information
for Active Duty Military.