These are my first days with my own money and I have realized one pretty important fact, management of money is one of the toughest duties to carry out in this world. However, and thank god for that there are several different applications that are meant for the management of money that you spend from your wallet. The best finance applications that I have come through while on my quest to calculate the areas of expenditure in my life are the Mint and HelloWallet applications. Here is a comparison between the two find out exactly how good or bad each of them is.
But before going into the details of the applications let us take a look at what these applications are meant for and how exactly do they function? The Hello Wallet application provides you with all the information about how to stretch and take your currently earned income beyond and certain limit. Hello Wallet lets Americans learn to manage their money better. The web tool (web site) is not just knowledge it is also very functional, visitors can learn about better bank products and how to spend their hard earned money to get tools to manage their funds properly.
Mint is another close competitor of the Hello Wallet application it also features functionalities pretty similar to the HelloWallet application. The Mint application has claimed many awards for the finance applications including the User Experience: Finance & Banking Winner, Mint was Selected as the Winner of the SXSW Web Awards Classic category, The Top 10 Everything of 2009, Top 40 under 40, Favorite Money Blog. Mint.com application is also available on android. Learn more about how to use Mint.com app on android. However on HelloWallet blog we found that users are missing iPhone/Android app for HelloWallet for ease of use in mobile.
Both the applications are not open source and while Mint is web based or cloud based, Hello Wallet application is Mobile Phone or Windows based. Although Mint is available for free The Hello wallet application does charge you $4 to have on your Windows machine. However the Application Mint does not store your old transactions and Hello Wallet provides the support for same as one of the best features. Mint gives you graphical balance updates while the Hello Wallet application provides you the budgeting and category allocation information as well in the form of graphs. Also pretty importantly the Mint application provides no encryption to the data that you have entered. However the Hello Wallet application does the same to the data that you provide.
The Mint application although is much user friendly with the support for Blogs, FAQs, Helpdesk etc. However in the Hello Wallet application you can get a maximum of a Blog of their own where they explain the working of the application much in detail. However lack of Helpdesk support is a big disadvantage.
Both the applications seem to be having their own pros and cons and seem to be god in one way or the other. Although the Hello Wallet application seems to have a good number of inherent flaws amongst the two it comes out to be the better one the reason being the several amazing qualities that it has. But opinions do differ so you can try out both and let us know about your views about the same in the comments section below.
I personally prefer the HelloWallet application on my Windows machine and trust me it has brought my expenditure down to an all time low. !!