Managing one’s personal finances, amidst the hectic day-to-day chaos of life, can often get stressful. Except, of course, if you are a money wizard, keeping a track of spending patterns is quite challenging. Not planning your finances could lead to a lot of emotional stress and frustration. This will not just affect you but the entire family. Hence, planning and managing your finances is a crucial aspect to leading a successful and stress-free life.
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Should I plan my finances at all?
Planning and budgeting finances is important because it helps an individual draw out a comprehensive plan for spending money. This way one can always be assured that there is enough money for all necessities and it will also keep you out of debt. It is also important to make financial goals, define them and go on to achieve them. Financial planning goes a long way in helping an individual meet these financial goals. One can have a set of goals at the same time and a good budget or financial plan, which will help an individual identify such goals.
Now, let us take a look at an example of the various aspects of financial goals:
- Debt management
- Income tax planning
- Saving and investment portfolio goals
- Educational goals
- Real estate goals
To achieve goals of any kind, it is very important to make a concrete plan and this will help you walk in the right path. For this, the first step is to gather your personal financial information, make reports and maintain a personal balance sheet of income and expenditure. In today’s technology driven world, taking control of your financial life is much easier. One need not compare papers physically or maintain ledgers. All you need to do is to make use of some of the personal finance apps available in the market. These kind of apps helps individuals manage their finances digitally. The app helps you budget, keep track of expenses, make lucrative investments and also take care of debit.
The BankBazaar app is one such app. The personal finance feature in this app simplifies finance management. It is almost like having your very own personal assistant to manage various aspects of your money. The app does it all, from reminding you to pay your credit card bill on time, keeping a track of your bank balances, to tracking transactions on multiple savings accounts or even keep a track of gold and silver prices.
The BankBazaar app helps individuals take a real time snapshot of their account balances held across various savings accounts. Usually, people use more than one bank account and this makes it difficult to keep a track of spending. However, with the BankBazaar app, users can link multiple bank accounts in one single app. Thereby, this app consolidates all account information into a single balance sheet.
Some of the other features of this app are:
- Customers can get information on gold and silver rates on a day-to-day basis
- Information about the quick loans, fixed deposits and credit card deals in the market can be obtained
- Users can get accurate information about the best fixed deposit options in the market
- Free Credit Score report anytime, anywhere.
- Customers can update their account balances on a real time basis
- Helps customers access the right financial products
- Applying for a financial product from anywhere and at anytime
- Getting smart financial tips and know-how on financial management
- Boosts your IQ with the latest financial news
- EMI calculator – Complicated EMI calculations made easy.
- Regular fuel rate updates – petrol and diesel prices in and around your city.
The BankBazaar app is a one-stop solution that meet all finance-related needs. The app has been helping customers make informed financial decisions and have access to information at the tap of a button anywhere in world through a smartphone.