So, you have started creating a budget plan but are looking for a way to track your spending. And now you are overwhelmed by the world of financial applications all vying for your attention and, of course, a slice of your money.
Consumer debt in the United States has hit a record high of $4.19 trillion. Over a quarter (26%) of that money is held on credit cards. Around 73% of those funds are tied up in automotive loans, student loans, or mortgages. With numbers like these, it is no wonder over half of Americans (60%) feel burdened by their financial situation.
Whether you are dealing with massive debt or merely trying to make ends meet, proper money management can be overwhelming. That feeling of drowning? That’s normal. But financial freedom and control is not something achieved in a day. It is a journey that requires time, effort, and commitment.
Is there a danger in providing your financial information to a third-party budget application? The short answer is “yes.” But the benefits may outweigh the risks when done right.