The pocketguard takes the simpler approach to personal finance, Are you all set up to take your finances? If yes, then this article will surely help you to understand how pocketguard works for your finances and what actually does pocketguard is along with its features. There are the vast number of mobile personal finance apps promising which helps you to get handle all your account details and money, but only the very best are worth trusting with your funds. Free app pocketguard is one among those entire trusted and useful finance app, but it is not quite there yet. The most budgeting apps generally take a long view towards financial solvency. They help you to provide the tools which help in disciplining you’re spending and saving and thus analyze your money habits.
It also shows you how much money you have in your pocket left spending after your regular bills subscriptions are paid to keep you o the straight and narrow financial status. Therefore, if you have decided to take your finances under control, then it is great. But, do you have any idea about what’s next? Firstly, you require connecting your checking, credit, and savings account, as this is what makes your budgeting a quite smarter. This can help you to tell what you are spending, where you should save your money and will remind you whenever your credit and bills are due. The more accounts you link the smarter will be your budgeting line.
Setting up with Pocketguard
Afterward, you can double check, that we have detected your recurring bills and income correctly or not. We will do this automatically with the help of sophisticated algorithms, but as we know that no one is perfect. This is the part of setup which is important as bills and paychecks are the heart of every budget. Whenever you first setup with pocketguard, then you have connected it to your various financial accounts like checking, savings and credit cards that will let you give a sense of your net worth and your spending nature, etc. Pocketguard does not ask you to spend lots of money and time in addition to your financial goals and thus pouring the over purchase.
The setup s quite easier and its working are quite quick but not as detailed for sure. It is quite similar to Level money. It automatically classifies the transactions which it finds among your financial accounts so that a charge at the hotel is classified as travel, your mobile bill is marked as a bill. All the bills get lumped into the same bill category and they seem to be reflected within fixed monthly costs. It also helps you to record any recurring bill which identifies the bills and income. It asks you to record any recurring bills and income that you may have noted as of how often they occur.
Features of Pocketguard
Below are some of the widest features of Pocketguard that will help you to your financials in a more detailed and clear way as:
As you know that, the pocketguard will automatically pull out the transactions from your accounts when you link your account to this app. You can look at the full list of transactions from all connected accounts on the transactions tab. In case, if you do not need to see the transactions from any given amount, then you can find out how to hide it here.
As this app helps you to pull out your transactions, they are automatically divided into various categories which depend upon merchant concerned. Unfortunately, the system sometimes identifies a merchant or a category incorrectly. The working on improving the algorithms will surely be corrected soon and what you must do first is to check if all your merchants and categories have been correctly identified or not.
Now, you can go ahead and thus can analyze your spending. The perfect and right tool for doing this is the spending pie-chart. This shows all the expenses that you have incurred over the current month divided into various categories. It is the best way to look where your money goes. You must not worry, or lower down on the list, you will find a feature which will help you to take charge of your crazy spending habits.
To help you, even more, there have been gathered the best financial services which can lower your bills, pay your loans off and can improve the credit score of your account, get rebates on shopping and many more. To be in budgeting is a great factor, but it takes more than that in improving your finances, so never miss the opportunity to discover more ways to save.
Pocketguard is free to use, but it needs that you must give it read-only access to your financial accounts for it to work. There are many personal finance apps, which include Mint, Level Money, etc that require this same read-only access so it is not an unusual thing. You will also have to give the app a little bit of required information about yourself. As with most financial apps which connect to your bank and credit card accounts, you cannot actually withdraw or move money from or within the app.
In other words, we can say that is someone is going to hack your account, then they must see a lot of information about your finances, but they should not reach your money. Therefore, pocketguard uses a username and a password protection as well as four-digit PIN to unlock the app. This will be great security for you, and if someone tries to unlock your app and take away your money from the account, then the person will not be able to do so.
By the way, you have got the details about the functionality of pocketguard which will help you to track your cash summary and complete balance and have a ton of additional pockets to max out the accuracy of your reports. Hope, this entire article is quite enough for you to understand what is the use and working of pocketguard in your financial expenses.