Managing your money shouldn’t get in the way of living your life. That’s why personal finance apps are such a natural fit for the iPhone. They let you track your stocks, convert currencies, calculate how much you owe, and track expenses—all on the go. The more full-featured among them even let you manage multiple accounts and transfer money between them. The best apps are those that take advantage of the iPhone’s finger-friendly interface or unique features such as location-awareness. For example, GPS or WiFi can be helpful in finding the way to the nearest ATM. Most of these apps are free or available for a nominal charge so there’s little to lose by trying them. Here’s a look at 10 that count.

Bloomberg Mobile (Free)

Bloomberg

Wall Street Traders swear by the Bloomberg Terminal to analyze real-time financial market data, place trades, and get news and price quotes. Bloomberg Mobile isn’t quite the same thing but it is a beautifully designed app that provides up-to-the-minute news, stock quotes, company descriptions, and price chart and market trend analysis. The My Stocks feature is a more detailed replacement for Apple’s stock Stocks app. And Bloomberg Mobile takes full advantage of the iPhone’s position sensor by providing larger charts when you rotate the phone to a horizontal position.

Mobile Banking (Free)

Bank of America

Bank of America’s iPhone app, Mobile Banking is little more than a wrapper around its existing mobile site (which isn’t optimized for the iPhone) but if this is your bank you’ll still find it useful. You can use it to check available balances, pay bills, and transfer funds on-the-go 24/7. Its best feature is its ability to find the nearest ATM and Banking Center locations using the GPS in the iPhone, something that isn’t possible with the mobile site. BofA’s Online Banking Guarantee is its assurance that you won’t be responsible for any unauthorized transactions and it uses advanced encryption technology to prevent unauthorized access to your accounts and to protect your online identity.

PayPal (Free)

PayPal

In Japan many have thrown away their wallets in favor of paying for everything from train tickets to beer from a vending machine with their mobile phones. We’re not quite there yet but the PayPal app provides a tantalizing glimpse at this future. It provides complete access to your PayPal account allowing you to check your balances and send money to your friends and family, all from your iPhone. It supports 16 currencies and is secured by your existing PIN or password. It’s a good start but I’d like to see it go further. Missing is any way of displaying your transaction history and I’d also like to see it use the notification indicator on the app icon to show when money has arrived in your account.

Loan Shark ($4.99)

FoggyNoggin Software

Designed to help you navigate the often treacherous waters of financial lending, Loan Shark provides a number of features that let you calculate and compare loans from different vendors. You can calculate any component of a loan, including payment, interest rate or loan amount, see the full Amortization Table for the loan’s lifespan and play with “what-if” scenarios that let you determine the effect of making extra, higher, or lower payments. Loan Shark can help you determine how long it will take to pay off that credit card, determine how close you are to paying off your mortgage, and compare the cost of different loans, among many other uses. Kudos to FoggyNoggin Software for an easy-to-use and good looking interface that works well on a mobile device.

Bonus feature: Lets you locate nearby banks using the iPhone’s location-awareness

Tipulator (99 cents)

Tap Tap Tap

Tipulator stands out in a crowded field of tip calculators (it’s often said that the true test of how successful a new platform will be is how quickly a tip calculator appears for it) by marrying cute graphics with easy-to-use number dials. You can probably split the check without it but you won’t have as much fun doing it. And for 1/3 the price of your last latte, you owe it to yourself to at least try it.

Tiptap (Free)

Made With Bananas

More traditional but no less useful is the free Tiptap which is one of the most straightforward tip calculators I’ve seen. Featuring a large custom keypad and a large picker wheel, it’s extremely finger friendly, a plus when when your dining companions are tapping on their wallets and waiting for you to tell them how much they owe. You can choose to enable rounding, splitting, or tax support and Tiptap works with multiple currencies and multiple languages (English, French, Spanish, Italian, Dutch, German, Swedish and Japanese).

PocketMoney ($9.99)

Catamount Software

This venerable mobile checkbook first appeared 14 years ago on the Apple Newton and has since been available on Palm and Windows Mobile devices. Long time PDA users transitioning to the iPhone and former Quicken users alike will welcome its powerful approach to tracking your finances. PocketMoney can track an unlimited number of accounts, can auto-complete transactions based on payee, and will generate expense reports and pie charts. PocketMoney can import database files from the Palm version and also Quicken Interchange Format (QIF). You can even sync these files over a WiFi network using a free desktop app.

SplashMoney ($9.99)

SplashData

SplashMoney is another mobile checkbook that is well known from its implementation on Palm and Windows Mobile. SplashMoney allows you to track different account types: checking, savings, credit card, cash, asset, liability, money market and line of credit. You can create a budget and track and analyze your spending with customizable reports and charts. SplashMoney bests PocketMoney by connecting wirelessly to many online US banks using the same DirectConnect service as Quicken and Microsoft Money. In order to sync with the desktop, you’ll need to purchase the desktop version of SplashMoney separately.

Day Bank ($3.99)

Quantum Quinn

Day Bank is a pocket-sized check register that has been built specifically for the iPhone with a number of features that take advantage of the phone’s capabilities. Unlike the others included here, Day Bank seems particularly suited for entering transactions on the go and tracking your cash spending. Transaction entry is particularly speedy and the app uses the iPhone’s camera to capture images of receipts or purchased items. I like the ability to easily filter the view by day, week, and month. Day Bank isn’t as full featured as its competitors and currently can’t serve as your primary money manager due to its inability to reconcile transactions but it is improving rapidly and in its next version will support transaction geo-tagging, the ability to rename categories, QIF, CSV, & XML export, WiFi backup and restore and more.

Pennies ($2.99)

Design By A Knife

Pennies is a slick expense tracker with an interface that looks like it could have come straight from Apple. It doesn’t pretend to be a full-featured money manager like SplashMoney or PocketMoney but what it does do it does exceedingly well. It lets you quickly establish a monthly budget and record and track your daily expenses against it. Large finger friendly buttons and fun features such as a fuel gauge that indicates how much money is left in your budget make Pennies a joy to use. If you still rely on cash for your daily purchases and only want to make sure you are meeting your budget goals, Pennies is a good choice.

Two we want to highlight: a streamlined transaction categorization and rules interface and automated transaction exporting.

1. Improved Categorization Dialog

No longer will you need to scan through dozens of categories to find the one you want for that all important Coffee Shop, Music or Movie purchase. We’ve made the whole categorization process simpler. You now use a simple drop-down menu to select the category you want. It’s even faster to rename and categorize multiple transactions. Just select the transactions you want to edit and click “Name & Categorize” to apply categories or names to multiple transactions with just a couple of clicks.

          
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2. Naming & Categorization Rules Management!

You can now easily edit the rules you’ve set for merchant naming and for transaction categorization. Simply click on “Edit Rules,” to make changes to previous transactions or delete conflicting rules.

BTW, we’re constantly improving our categorization algorithm; we think we’re getting it right about 85% of the time now. You should feel free to send us any amusing (or not amusing) miscategorizations you’re finding. We’re trying to keep a sense of humor on the way to 90+%. We’re also learning that some users want to categorize gardening expenses as Home Improvement…while others call them Hobby. We’re all about freedom of choice.

          
Click to enlarge

3. Exporting Your Transactions

Some of our users told us that they want offline access to their transaction data. Others said they want to share with others…like their accountants or tax prep pros. You can now export transactions into a CSV file right from the Transactions page. Simply click on “Export all Transactions” on the bottom of the page and your transaction file will be ready for download.

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As always, we’d love to hear any feedback on these changes. Did we get it right for the way you use Mint?

Thanks for using Mint.com,

- The Mint Team

Personal finance software is something that we care about here at Mint. Learn more with great finance software tips in our blog article index.

We’ve just released a number of improvements to the Mint.com finance software service — including some new features which have been at the top of our users’ “wish list” for online financial management. We hope you’ll find that these additions make your mint.com experience even better, and that you’ll see them as an early holiday gift to all of our users. You’re all on our “Nice” list.

1. More Personalized Ways to Save — Just in Time for the Holidays
   
   Whether you’re anticipating a flurry of December spending, or congratulating yourself on saving some dough this year, you’re probably wondering how to find the best financial product for you.To make that shopping easier, we’ve just added information on interest rates and rewards on tens of thousands of financial products to our proprietary database. This increases Mint’s ability to match our credit card and bank account recommendations to your individual needs. Log in to Mint.com today and check out your personalized Ways to Save page for some new ideas.
2. It’s the Most Wonderful Time of the Year — to Know Where Your Money Goes.
   
   Mint users can now divide a single ATM withdrawal across the categories in which the cash was spent (e.g. Gold, Frankincense and Myrrh? … or maybe: Gas, Restaurant, and Groceries?) Likewise, users making a large purchase from a department store like Target can now divide that transaction into Food (egg nog?) and Gifts. This should help give you an even more detailed view on where your money goes each month…and what you’re spending on presents this month. Click on the image below to see transaction splitting in action.
   
   
3. Helping you spot “Scrooge-Like” ATM fees.
   
   Mint.com will now automatically detect and categorize ATM fees from ATM transactions. For example, an ATM withdrawal of $103 will split $3 into the fee category and $100 into the cash category – giving you a sharper view on fees charged by your banks. Online financial management has never been this easy!

To learn more about these new features, check out the full press release.

And just in case finding the perfect Halloween costume caused you to miss the news on the new features released in October, including Budgeting and customized Account Naming, please click here to read more.

Please share your comments on any of Mint’s features below. We always appreciate “the gift of feedback.”

Thanks for using Mint.com.

- The Mint Team

Further Reading on the Topic

Online Financial Management
Finance Software
Finance Management

Online finance management articles are abound on the web. You can find them at MSN, CNN, or Yahoo Finance. Every major web portal and news site has a section on personal finance. You can check out Mint’s take on personal finance here.

But what exactly are these personal finance articles trying to do? Inform you? Entertain you? Educate you?

Here at Mint, one of our core focuses with these articles is to help you understand the basics of a sound financial lifestyle that can be accomplished with online finance management.

We are committed in building a great personal finance tool, but we are also committed in informing you of the many options you have in achieving financial independence — of these options, one of the simplest ways is to choose a sound financial lifestyle.

What then, is a sound financial lifestyle? Let’s take a look at what other people in the blogsphere thinks:

Jim from Blueprint for Financial Prosperity:

A sound financial lifestyle is making sure you can always provide for your family and not living beyond your means.

Madame X from My Open Wallet:

To me, a sound financial lifestyle is not about trying to get rich quick — it’s about trying to live within one’s means, and about working towards sensible financial goals. I’m doing it the slow and steady way, and trying to find a balance between enjoying life now and building financial security for later. I don’t make any claims to be extremely frugal, especially career-savvy, a brilliant investor, or any kind of entrepreneur. I could measure myself against some yardsticks and be considered a financial flop, but in other ways, I think I’m doing pretty well. I have made a good start on retirement savings, I’ve bought a home, and I manage to enjoy at least a smidgen of the cultural wealth New York City has to offer.

My goal is not to have to worry about money. I’m not quite there yet, and in some sense I suppose I will always worry about money. But there is a difference between caring about and managing your finances, and lying awake at night wondering how you’re going to pay your bills.

JD Roth from Get Rich Slowly:

A sound financial lifestyle is a sustainable financial lifestyle. That is, it’s lifestyle in which a person does not spend more money than they have. But I don’t mean to say that people should be misers.

It’s important to enjoy life. Money is a tool that can bring increased happiness. Too many people, however, use money they *do not have* to buy happiness now at the expensive of happiness in the future. Don’t be like them.

Trent from TheSimpleDollar.com:

A sound financial lifestyle is one that won’t collapse if the unexpected happens, which would include spending less than you earn and also having a well-stocked emergency fund.

Leo from Zenhabits.net:

To me, the words “sound financial lifestyle” evoke an image of stability, of spending within your means, of stress-free financial planning and maintenance, and of having a financial cushion in the bank so you aren’t living from paycheck-to-paycheck. That’s achieved, in my opinion, by being frugal, paying your bills on time (and automatically), eliminating debt and debt planning, increasing your income, and saving or investing as much as you can. If you can add to that an automated income stream, you’re golden!

FMF from FreeMoneyFinance.com:

Spend less than you earn, invest as much as you can and keep repeating year after year.

Jonathan from MyMoneyBlog.com:

A sound financial lifestyle would involve being able to balance work and life, while at the same time being able to save money for both short-term emergencies and long-term needs. This would help one to enjoy the life that they are working so hard to achieve.

Mapgirl from Mapgirl’s Fiscal Challenge:

To me, a sound financial lifestyle means putting money away with every check for retirement and for a rainy day. If you aren’t in a position to be able to save like that, then you are probably in a precarious financial position that needs shoring up.

Jeffrey from Personal Finance Advice:

To me, a sound financial lifestyle is using your money as a tool to achieve your life goals rather than having it control you. Many still believe that more money would buy them happiness, but the truth is that you need to find that happiness within yourself and the life you live.

Money can help you achieve more free time to pursue those life goals, but it won’t in itself buy the happiness many seek. Putting your financial house in order gives you the opportunity to pursue the life goals you have, and that, in my opinion, is the point when you have developed a sound financial lifestyle.

JLP from AllFinancialMatters.com:

To me a “sound financial lifestyle” is one in which current needs are balanced with long-term financial goals. Of course, this entails living within your means but it doesn’t mean saving ALL your money either. It’s important to enjoy today as long as you are endangering the future.

Michael from It’s Your Money:

A sound financial lifestyle means that everyday bills are nothing more than paper in, paper out. No stress, no worry, and all the “what ifs” have been handled as well as can be expected.

Nickel from FiveCentNickel.com:

A sound financial lifestyle to me involves spending less than you earn, saving and investing to build wealth, and taking steps to protect it.

Moneymonk from Money Living:

A sound financial lifestyle is avoiding consumer debt and living on less than you earn. The trick is to delay your gratification.

Kimber from NoLimitLadies.com:

The ideal financial lifestyle, for me, is having passive income equal to or higher than expenses

Prlinkbiz from NoLimitLadies.com:

Ditto what Kimber said, while adding that I would like to roll excess income back into more income producing assets, instead of saving it in the bank, creating more and more passive income.

Stephanie from Poorer Than You:

To me, a sound financial lifestyle is one that gives you flexibility in your life. When you’re not living paycheck to paycheck, you have no debt (or manageable debt), and have put aside money for the future, you can take what life throws at you.

Cap from StopBuyingCrap.com:

A sound financial lifestyle to me, is not about hoarding all your money, but simply allocating your money sensibly.

It is about spending less than you earn, saving and investing for the long term, being able to take care of your love ones, having the ability to do the things you want to do (such as pursuing higher education), and not letting money be the reason why you can’t do certain things.

What are the Common Themes in a Sound Financial Lifestyle?

As you can see, a sound financial lifestyle can mean many different things to many different people. However, there are some common themes that was repeated again and again:

1. Living within one’s means (10 mentions)
2. Saving and investing for the future (8 mentions)
3. Having an emergency fund (4 mentions)
4. Avoiding a paycheck-to-paycheck lifestyle (3 mentions)
5. Debt Planning: Avoiding high-interest consumer debt (3 mentions)

Why Should You Choose a Sound Financial Lifestyle?

1. To avoid stress (2 mentions)
2. To take care of your family (2 mentions)
3. To have a content life (8 mentions)

When you make a choice to live a sound financial life, you will have less stress in your life.

Consider this, according to a 2000 study by the Creighton University Center for Marriage and Family, money is one of the biggest obstacles to satisfaction in the lives of newly married couples.¹ And according to a research done by Thomas Garman, a professor at Virgin Tech, 34% of American’s work force says that financial stress sometimes hampers their work performance.²

Choosing a sound financial lifestyle will also give you and your loved ones more choices in life.

Imagine not pursuing higher education due to financial troubles from yourself, or from your family. As reported by the Lumina Foundation in a publication entitled: The Doors of Higher Education Remain Closed to Many Deserving Students; not having enough money is the leading factor in whether a student goes to college.³

Wouldn’t it be a shame to not be able to see your child have the same, or better opportunities as you have had, because of your past financial decisions in life? It is because of these very reasons — and many more — that you should considering choosing a sound financial lifestyle.

Take Action: Choose a Sound Financial Lifestyle

1. Spend less than you earn. Living within one’s means does not require an advance math degree. Budgeting, keeping track of your spending, reducing your expenses , and online finance management are some of the methods you can use to achieve this goal.
2. Save early and invest for you and your family’s future. Know that saving money while you’re young is easier, and that the simplest way to secure your financial future is to understand and utilize retirement accounts.
3. Create an emergency fund. Avoid financial pitfalls by having a financial parachute!
4. Switch from the paycheck mentality to the wealth building mentality. Realize that it is not entirely about how much you make but more so about how much you save.
5. Avoid high-interest consumer debt by using credit card wisely while you’re young. Have debt? Reduce it quickly by taking these five simple steps.

In the coming weeks and months, you will find on Mint’s blog a continual theme of financial articles with actionable tips — and one of our core focuses will always be on choosing a sound financial lifestyle. We promise it won’t be terribly boring and we hope you’ll come along for the ride!

Does a sound financial lifestyle have a different meaning to you? Please feel free to share.

Further Reading on the Topic

Online Finance Management

Finance Software

Debt Planning