In an effort to encourage making smart financial decisions among individuals and businesses, Bankrate listed down several personal finance apps for the world’s top business phone, the iPhone. Bankrate is currently the Web’s leading finance info aggregate and a trusted source of top newspapers and financial institutions all over the US.

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Loan Calculator and Spending-and-Saving Apps
Below are Bankrate’s most favored loan calculator and spending-and-saving apps for Apple’s standalone Smartphone:

  • DebtTracker Pro
If you’re into getting a sterling credit history or just wanting to develop discipline on paying off debt, then DebtTracker Pro may be the app for you. This app allows you to create, manage and maintain a debt payoff plan by entering and constantly updating your loan or debt information. It allows you to analyze your current debt repayment position and predicts how long it will take you to full repay your debt depending on your rate.
  • Grocery  Gadget
Workplace matters aside, family or home budget can eat up a huge chunk of your overall budget. Grocery Gadget for iPhone can help you with a simple but important chore—shopping. This app allows you to create lists, wherein you can check off items as you shop and track down all purchases you’ve made. Grocery Gadget also features a bar-scanning option via 3G data. This app is available for a little less than $5, but we guarantee you that it’s worth every dollar spent.
  • MoneyPass ATM Locator
The MoneyPass ATM Locator for iPhone automatically determines your location and directs you to the nearest ATM machine in your area. And the upside of this app? MoneyPass saves you from falling prey to unwarranted ATM fees because it can locate surcharge fee-free ATMs for you.
  • MyLoan Calculator
MyLoan Calculator is a cloud financial calculator app that computes fixed-rate simple interest payments for you. Available for iPhone, this app also has the ability to load three different loans. MyLoan Calculator allows you to total additional principal payments to illustrate your current loan balance status. There are also similar loan calculator apps out on the market that you might as well want to check out: Loan Calculator Pro, Mortgage Calculator Pro, MyLoan, and MyPayment.

More Mobile Financial Transactions as Cloud Usage Surges
An annual survey of small businesses in the United States was conducted by one of the leading VoIP providers in the country to measure mobile device adoption and cloud service usage in various industries. Ring Central phone system found out that most businesses (57% of 300 respondents) now rely on the cloud or mobile apps to do just about anything for their business: document creation and access, team collaboration, HR duties, and finance management.

Meanwhile, some institutions in the US are also of the same opinion that “swiping mobile phones” can potentially replace cash and credit cards in the next few years. The Pew Research Center and Elon University say that over a third of Smartphone owners in the US rely on mobile devices, and consequently on mobile apps, to facilitate financial dealings such as checking bank accounts, paying bills, accessing e-bills, and making purchases.

Also, a leading IT research company in the country predicts that mobile financial transaction users may hit 212.2 million early this year from just 160.5 million in 2011. Global cloud financial transactions, on the other hand, are expected to reach over $171.5 billion this year, says Gartner.

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About the Author:
Edward is an article writer that talks about business and technology. He contributed different business and technology related articles like gadgets review, latest tech news, small business phone guides and business phone service on different websites. Aside from writing, he also loves to read books, to travel and do skydiving during his free time.
Editor-in-chief at Cyberockk, Rizwan is an avid mobile geek and a gaming lover. He loves to keep a tab on new tech and loves to share the latest tech news and reviews on Smartphones, Gadgets, Apps and more.