Why use a personal finance and budgeting app? We have busy lives and challenges that we didn’t have ten years ago running them. Do you remember life before your smart phone? Text messaging was the thing, and in most cases it was bundled with your subscription. I remember my first mobile phone, it cost a pound a minute to make a local call. Anyway, it was a pay as you go, and not a subscription item. Twenty years ago our regular subscriptions, contracts and outgoings would have been utilities, phone, cable or satellite TV, rent or mortgage, a couple of insurance products and a magazine subscription here or there. We would pay these bills upfront or when we got an invoice, probably with a cheque (‘check’ for our American friends) and mail it back in the post. Ten years ago things changed a little, now mobile phone contracts were ubiquitous, we started getting broadband, and we started adding online subscriptions. Payments were usually electronic although maybe we sent cheques now and then.
Today this has changed even more. Generally our payments are all online or via a direct payment from our bank account or credit cards. We don’t generally physically track our purchases anymore (Amazon one-click purchases did that away a few years back), we use our cards and online payments for convenience. And the number of subscriptions we have doubled by my best guess. We’ve added all sorts of subscriptions and contracts for electronic services – online newspapers and magazines, software subscriptions, digital music and video services and an array on website and app subscriptions. And that’s just for an individual.
Households today have more complexity than ever. A dozen or so gadgets or devices at least, connected to the internet and consuming some sort of data subscription, a multitude of credit cards and other payment methods slowly being drained away by all our on-going commitments. Tracking these is time consuming if we even bother to do so. Personal financial management software and apps help us bring these challenges under control. Adnoto Plus is one of these apps, and gives you the ability to track your household commitments by individual, devices, location and payment method. Maybe it’s worth a go and see what you really spend.