Turn Your IPhone into a Financial Toolbox

Modern technology has changed everything. Just a few years ago, no one would have believed the advances in communication technology that are so prevalent in the modern era. Modern mobile devices enable you to video chat with your family, check your email on the go, and even watch streaming video. But these are just a few of the things an IPhone can enable you to do on the go. Nowadays, you can even turn your phone into a mobile command center for your finances, where you can track your budget, pay bills, and even invest.

Our readers are no doubt familiar with the importance compounding returns places on automating as much of our financial lives as possible. For more information and some excellent ways to become involved in the internet banking revolution, visit our post Easy Money: Ways to Automate your Finances. If you are looking for ways to further automate your financial life, you can consider turning your IPhone into a financial toolbox by downloading some of the applications listed below.

Some of the applications that are available to IPhone users can cost several dollars, while others are available for free download. Of the numerous free applications you can choose from, here are some of our favorites. 

PayPal: If you are a PayPal user, you'll definitely want to download the free PayPal App available through ITunes. The App lets you pay and get paid securely while on the go through your IPhone or mobile device.

Mint: Our frequent readers know that we love Mint.com both for building your first budget and tracking expenses over time. The Mint App for IPhone is a great way to keep yourself honest and stick to your budget while on the go. 

GasBuddy: In the era of $5.00 a gallon gas, saving at the pump is one of the biggest favors you can do for yourself and your wallet. If you've found a lump in your throat watching the cost rise during your last few fill ups, this App that tracks local gas prices could be just the thing to save you a few dollars at the gas pump. 

Groupon: If you use Groupon, the Groupon App makes your favorite money saving site as portable as your IPhone. If you aren't yet a Groupon participant, check out www.groupon.com  to save up to 90% on events, restaurants and entertainment in your local area. 

Kayak: If you haven't heard of Kayak, you may have been missing out on some great deals on travel. Kayak is a search engine for discount travel sites, that can help you discover great deals on travel. Kayak now offers both the convenience of a one stop search engine for cheap travel and the convenience of IPhone functionality.

Morningstar: The Morningstar financial application for IPhone allows you to search almost 8,000 mutual funds and ETFs, providing you with top holdings, performance, expenses, and management details.

ETrade: The mobile App for ETrade allows you to monitor your positions, make trades, and facilitates the buying and selling of stock. Although there are a number of trading Apps available, the usability of ETrade makes it our top pick.

Fidelity: The Fidelity App offers excellent usability for investors, as well as a diversified source of information. Fidelity's IPhone application provides data feed from sites like CNN, MarketWatch, Reuters, and the Street. 

At compounding returns, we are all about slashing debt and building real, long term wealth. With modern technology, it's become easier and easier to build wealth over time. The applications above are a good start, but anything that simplifies your financial life and makes budgeting, saving and investing easier and more sustainable is a great addition to your financial life. 

These are just a few of our favorites. What are your favorite personal finance IPhone Apps?

For more ways to pay off debt, save, and invest for the future check out the Totally Money Blog Carnival, hosted by The College Investor.