Want to get your life in order? Simplify it? If you’re trying to pay off a debt, save some money or invest, as Apple says, “There’s an app for that™.”
Looking for an overall app to simplify your finances? Some apps are simple enough for newbies just getting started. Others are more advanced for those who only want somewhere to record their transactions. You can check out Mint, MoneyLover, GoodBudget, Personal Capital and Expense IQ. Let’s look at Mint and Personal Capital.
According to Forbes, “Perhaps the most well known, Mint allows users to create budgets, track bills and receive a credit score. But it’s the budgeting feature where Mint shines the most. The best part? You’ll be able to see how much you can save by cutting back your spending in a category.”
Money Under 30 tells us that Personal Capital’s “basic app is completely open. Not only does it provide budgeting and a high-altitude view of your finances, but it also provides important investment tools, like its Fee Analyzer showing you the fees you’re paying in your retirement plan.”
Budgeting and Expense Tracking
If you need help in setting up a budget or tracking your expenses, you can choose from apps like PocketSmith, PocketGuard, MoneyLover, Dollarbird, YNAB, Honeyfi, Clarity Money, Wally, Mvelopes, Fudget and Spendee. Some are open to the public while others have monthly or yearly fees.
Wally can help you manage your expenses. Fudget is simple and PocketSmith is calendar-based. Clarity Money helps you save by helping you cancel unnecessary subscriptions while Mvelopes offers live support, for a fee.
Paying Bills or Debts
Are you paying off last month’s bills with this month’s income? If so, you could benefit from an app that helps you pay off debt like YNAB (You Need A Budget) or IOU-Debt Manager.
YNAB has you “give every dollar a job.” By setting goals, this app helps you pay off debt, save for a vacation, or work on another goal you may have.
IOU-Debt Manager is “an app that helps you keep track of who owes you what (or what you owe to other people)”, according to Tom’s Guide.
Want to organize your bills? If so, there’s Prism. It manages all your bills and accounts in one place so you don’t need to log in to individual financial sites. Or Trim, which offers personal financial assistance and will negotiate your bills for you.
Earn Rewards and Savings
Money Under 30 says, “Trim doesn’t just help you to get better control of your budget, but also to direct the savings into an account. You’ll then earn a 1.5% annual reward on your savings balance.”
Birch Finance offers rewards on credit card payments as well as tracking your bills and making payments.
Acorns is probably the most well known app to help you save. Mobile App Daily says, “Once you’re connected, …it automatically invests wisely in a low-cost ETF by taking into account your risk preference.”
Digit and Qapital are apps worth mentioning. Tom’s guide tells us, “Qapital is another banking app that aims to help automate your saving and budget goals, with smart, user-defined rules that automatically deposit a small amount into your Qapital Goals Account based on your transactions and purchases.”
About Digit, Tom’s guide says it “may be the easiest way to sock away a few extra bucks without even trying.” The app analyzes your spending and then sets aside small amounts to transfer to your Digit savings.
Just about every big broker is now offering an investment app. You’ll see lots of promotions and low-cost commissions.
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