Personal Finance Apps and Tools
Personal finance apps provide the means for you to budget, save and meet savings goals more easily. Furthermore, they can assist in paying down debt, monitoring credit reports and keeping an eye on investments.
Some tools make it easier to manage all your accounts from a single window, like Money Dashboard which lets you keep an eye on bills, expenses and investments with one tap.
Mint
Mint is a free personal finance app that gives you an overview of your financial life. It features account and bill trackers, savings trackers, credit card trackers and net worth trackers among many other features. Though one of the more popular budgeting apps out there, its competitors may provide greater investment insights or provide superior tracking experiences.
Users appreciate how straightforward and user-friendly the app is to setup and use, with colorful graphics categorizing spending categories, reminders set so they don’t miss payments, and access to their free credit score. It makes an ideal solution for those new to personal finance looking for something simple yet effective.
Albert
Albert is an app designed to do multiple things at once: it offers budgeting and savings tools, an investment account (through Sutton Bank) with no fees, cash rewards debit card capabilities, as well as tracking your net worth, debt burden, financial checkup score. Albert can even find ways to save via its smart savings feature – rounding purchases up and transferring the change into an automatic savings account automatically; identify unused subscriptions; as well as help purchase insurance policies.
Genius subscription is free for basic users but costs a minimal monthly subscription fee if Genius subscribers wish to access an experienced team of human money experts who provide advice on day-to-day finances and long-term goals. In addition, Genius also provides themed investments, such as women-led businesses or eco-friendly firms that can be explored further within its platform.
You Need a Budget
You Need a Budget (YNAB) is an app designed to help you create and monitor a budget and track spending. YNAB integrates directly with your bank account and imports transactions automatically, allowing you to categorize each transaction for better financial clarity and prioritize expenses by classifying them as necessities versus wants.
This software is designed to help you break free from the paycheck-to-paycheck cycle and save more money. You can link all your financial accounts, such as checking, savings, credit card and investment accounts. Furthermore, its proactive budgeting feature differs significantly from apps that simply categorize spending; rather it gives each dollar its own job which leads to greater savings while cutting costs.
Expense Tracking Apps
Money management apps can be an efficient way to monitor expenses. Their user-friendly design makes them simple to use and will allow you to gain a clear picture of where expenses could be reduced or eliminated altogether.
Expense tracking apps provide an overall picture of your finances by collecting transactions from mobile wallets, credit cards and bank accounts without risking your sensitive details. Some even categorize purchases for you!
Some apps allow you to set savings goals and monitor your credit, while others, like YNAB’s envelope budgeting system that prioritizes bills and goals, provides another layer of financial management. Meanwhile, another service like axio offers loan referral services as well as expense tracking features.
Investment Apps
Investment apps are particularly appealing to millennials and Gen Z investors just starting out in investing. Many are available free of charge and provide resources such as third-party research and stock analysis; additionally they may provide charts to visualize stock prices over time and help analyze trends over time.
Robo-advisors are often included with these apps, providing tailored recommendations based on an analysis of users’ financial goals, risk tolerance and investment preferences. Additionally, these robo-advisors can manage trading as well as offering premade portfolios tailored specifically for different budgets and objectives.
Micro-investing apps also allow for micro-savings plans, in which users round up purchases and place any excess change into an investment account. While this can be an excellent way to start building wealth, users should keep an eye out for fees and charges to prevent overpaying.
