Introduction
Nowadays, the management of money is more convenient than ever living in the digital age as there are a plethora of mobile apps that can track spending, budget, save strategically, and even invest all from your smartphone.
Getting your finances in order can mean anything from being overspending challenged to a someone wanting to get organized. The right app can help each of these scenarios greatly.
Financially successful individuals regularly utilize these apps to be aware of their spending and make small improvements along the way. Money management apps can help remind you of bills due, track expenses, set goals, and simplify the entire process, while saving you valuable time. In this article, we will provide a review of helpful apps manage money and how using an app can help you take charge of your financial life with confidence and ease!
Mint
Mint is among the most trusted and popular money management apps on the market. The app provides you with an easy way to track all aspects of your income, expenses, and budgets in one app. Once you connect your bills, credit cards, and bank accounts, Mint will automatically categorize your transactions for you, and show you exactly how you are spending your income.
The app will also provide you with reminders for upcoming payments, as well as alerts for unusual spending, which helps you maintain financial discipline.
The first thing you will notice when using Mint is how easy it makes tracking income and expenses. It’s also very easy to create a budget, and a great option to consider if you are looking to set up a plan for saving, or repaying debt. Mint has a clean and simple dashboard that allows you to view your account activity in a simple, no-stress way.
PocketGuard
PocketGuard is a smart budgeting app meant to give you the control to spend and save without thinking about it. It automatically syncs to your bank accounts, understands your income and expenses, and shows you exactly how much you have left to spend after bills, goals, and savings. With the app’s “In My Pocket” feature, you will always know what is safe to spend at any given moment. The app also identifies subscriptions you no longer use or other areas where you may be spending too much, allowing you to change your habits to save more.
You will love the clean, no-frills interface – there is no learning curve and is ideal for those looking for an easy way to manage their daily financial lives. Whether you are a new budgeter or looking to create a better relationship with money, PocketGuard will give you the confidence to be on top of your finances.
YNAB
YNAB, or You Need A Budget, is a fantastic tool designed to help you take control of your money, without delving into the various uses of alternative budgeting apps. YNAB doesn’t act like an average budgeting app – with YNAB, money has a job, whether that be bills, savings, or goals, and allows you to be purposeful about your spending.
The app will automatically sync your banking accounts, giving you real-time updates and allowing you to see how you’re spending. YNAB allows you to create reports to determine your spending habits and analyze your progress over time.
YNAB has a great goal system to help promote savings that takes a lot of the stress out of saving.
Acorns
Acorns is one of the easiest and smartest ways to start investing, without needing a large amount of money or financial knowledge.
The app will automatically round up your daily purchases to the nearest dollar and invest your spare change into various diversified portfolios. For instance, if you spend $3.60 on a cup of coffee, Acorns will automatically invest the remaining $0.40 for you.
After a period of time, those small dollar amounts will accumulate into considerable value, thanks to compound interest. You can also set up recurring deposits to help you build your investment more quickly.
Acorns has accounts for your investing purposes, such as retirement and checking accounts, all in one app. You can also access educational resources within the app to help build your financial literacy. Simple, automated and effective, Acorns is designed to help you passively grow your wealth, all while you focus on living your daily life.
Splitwise
For friends, relatives, or roommates who frequently share expenses, Splitwise is an app that they will want to have. It makes it easier to keep track of expenses in an organized way no matter if you are splitting rent, utility bills, the cost of a vacation, or when splitting costs with friends.
Instead of having to keep manual track, Splitwise will keep track of each time you make a payment and will allow you to see who owes what in a very clear way. You are also able to add notes, expenses, and even link to other payment apps and services to make payments together easy and stress-free. Splitwise is useful for friends going on a group trip together, and if your roommates are living with you.
You can even avoid the awkwardness of reminding people that they owe you money, with the reminder setting.
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Conclusion
Managing your finances is simpler than it has ever been with different app tools that have made budgeting, saving, and investing simple.
There are apps to help manage your daily spending (PocketGuard), evaluate tracking and subscriptions for expenses (Mint), create a more structured budget (YNAB), manage investments easily (Acorns), or split expenses with a friend (Splitwise) – each of these apps helps with an area of your financial health.
Apps give you organization, help you avoid overspending, and allow you to see that you are making movements toward your financial goals. The basic first step is to find the best app for your stage of life and levels of desire. Once you have found the perfect app, engaging with it often makes difficult financial components simple and more of a natural automatic routine.