If you want a little financial help to make your money management easier, why not turn to your phone? Start with these top apps for managing your finances.
According to NerdWallet, the total U.S. household debt in 2018 was $13.51 trillion, which included mortgages, student loans, credit cards, auto loans, and other household debts.
Financial literacy is not something you learn at school. Unless you’re studying finances in college, you either learn about money from your parents or from life experiences once you start earning.
This is why many people aren’t wise with their money and aren’t able to save anything even if they earn a decent wage. Living paycheck to paycheck can happen to high earners as well if they overspend and splurge on luxuries.
Luckily, technology is on your side and there are many amazing companies developing money management apps. If you’re ready to commit, these mobile apps can help you pay off debt, teach you how to save money, and provide financial help in just a few clicks.
Keep reading to discover 5 incredible apps that’ll help you reach financial freedom and live a stress-free life.
Mint is one of the best finance apps on the market due to its simple interface, friendly user experience, and the ability to handle all your finances in one place. Once you connect all your cards to Mint, you can track your expenses and bills, create budgets, and analyze your financial status.
Mint also offers a free credit score where you can see how you rank and how you can improve it. Once the app learns your spending and budgeting habits, it’ll send you tips on how you can manage your finances better and save more money where possible.
The app works on both Android and iOS and is free to sign up.
The biggest concern when it comes to finance apps is safety, but Mint has paid special attention to its security features. It offers 256-bit encryption level and everything you share with the app is double-encrypted with 128-bit SSL, so you can rest assured your data is protected.
Acorns is the best budget app for people who need help saving money and managing their finances better. The app works on the principle of rounding up purchases and automatically saving the change into your own personal investment portfolio.
After a few weeks or months of rounding up sums, you’ll see a hefty amount of saved money that you probably would’ve spent otherwise. The app also allows you to put your own money as an investment whenever you want or as an automatic deposit on a weekly or monthly basis.
The app is available on Android, iOS, and web for just $1 a month. It’s fully encrypted and completely safe to use.
3. YNAB (You Need A Budget)
Do you need a budget to stay on track with your spending? There’s an app for that and it’s conveniently called ‘You Need A Budget’ (or YNAB for short). The app was made for people who can’t seem to save any money, drown in debt, or spend more than they earn.
According to the YNAB website, the idea behind the app is based on four rules:
- Give Every Dollar a Job – Divide the money into categories before making any impulse purchases;
- Embrace Your True Expenses – It’s better to pay big unavoidable expenses now instead of scraping to pay them later;
- Roll With The Punches – Adjust your budget as you see fit and go with the flow of life;
- Age Your Money – Let your money pile up for a month and spend them on fun things the next month.
You can try the app free of charge for the first 34 days to see if you’re happy with it. They also offer a money-back guarantee if you find the app doesn’t work for you.
If you want the best expense tracker app that’ll help you budget like a pro, EveryDollar is the right choice for you! The main goal of the app is to make your monthly budgeting experience as stress-free as possible.
You start by adding your monthly income or the money you expect to make and then plan them by categories. For example, you add the amount of money you spend on utilities, food, transportation, recreation, and savings, and let the app do its job.
At the end of the month, you’ll have a clear idea where your money went, whether you could’ve spent less, and what you can do differently next month. One of the best features of EveryDollar is that it allows you to connect with professional money management experts to help you better understand and organize your finances.
The app is available on desktop, Android and iOS for a limited-time free trial. The app is secured by multiple levels of data encryption, firewall barriers, authentication step, data transmission encryption, and other additional protection.
Spendee is an app specifically designed for people who need to declutter their finances and set clear budget goals. Families have more expenses than the average couple or individual, so they need a better system to track the money that comes in and out of the household.
You can share wallets, create categories, add multiple currencies, and backup your information. Next time you need cash loans no credit check, you can consult your Spendee account and see how much extra money you’ll need to reach your goal.
The basic version of the app is available for web, Android, and iOS, but if you want more advanced features, you’ll pay an affordable yearly fee. The app and your data are protected by encryption, but you can add your own layer of protection by creating a Passcode, fingerprint or TouchID access.
Use These Financial Help Apps to Better Manage Your Money
If you’re in dire need of financial help in your life, but can’t afford to hire a financial advisor, these financial apps will change the way you spend money.
You can create budgets and track your expenses so you can allocate your finances better and save more and each month.
Looking for an app to help you make money? In this article, we review the best mobile apps that can help you earn a little extra cash on the side, right from your phone.