Taking Control of Your Finances - With Financial Apps
Updated: Jan 25
It's time to take control of your finances. And I can help! Managing your money can be hard - regardless of how much you have. One thing's for sure, it's hard to see any clear path moving forward in your financial life when you're not able to manage what you're doing with what you have.
I want to share some helpful resources with you that will help you with managing your money. Personal finance apps can connect with your bank account and help you keep up with your spending. Here are ten apps I would recommend you check out:
Mint is part of the Intuit family and is one of the most well-known personal finance apps out there. It provides your complete financial picture in one place. Once you link your credit and debit cards to your account, Mint pulls your transactions, categorizes them, and shows how you're spending your money. You can keep track of your bills and how you spend money, and you can create a budget. You also get free access to your credit score, along with the factors contributing to your score. The app can also do email reminders for payment due dates and add them to your phone calendar.
This is a great app to have for paying off your debt. YNAB, which stands for You Need A Budget, is built around four rules:
Give every dollar a job;
Embrace your true expenses;
Roll with the punches, and
Age your money.
With this app, you can import transactions from your checking account and apply them to each budget category to get an accurate picture of your spending. You can even adjust budget categories if you overspend. It will provide you with reports that show you how you can improve your spending. There is a cost associated with the app, but you can try it for free for the first 34 days.
Personal Capital is good for wealth management. It allows you to manage your assets and investments along with your everyday spending accounts. It integrates with more than 14,000 financial institutions, which makes it easy. You can track your portfolio by account, asset class, or individual security. You can discover opportunities for diversification, risk management, and any hidden fees you may be paying. Best of all, you can determine whether you're on track to meet your investment goals.
If you find yourself trying to manage a lot of subscriptions, then Clarity Money may be what you need. It's so easy to lose track of subscriptions you've signed up for. Clarity Money helps you save money by helping you uncover and cancel subscriptions you're not using. Also, it analyzes your spending behavior and gives you recommendations to improve your financial health. Once you add your accounts to the app, it will pull in all your information and display it back to you in a pie chart. The chart can be useful as it shows particular areas where you overspend. Clarity Money allows you to make regular savings deposits and attach a goal to your savings. You can create several savings funds with different goals. You also get access to your free Vantage Score credit score by Experian.
Prism can support 11,000 billers - that's a lot! It includes larger banks and even smaller utility companies. Add your bills to the app, and it automatically tracks your bills and sends due date reminders to help prevent late payments. You can also schedule your payments.
Spendee allows you to create shared wallets with friends and family. That's good for managing shared expenses for a household budget. Import your bank transactions and let the app categorize them for you so you can tally how you're spending money each month. You can keep from going over budget by creating budgeted amounts for each spending category and tracking your progress toward the budgeted amount. The bill tracker ensures you remember to pay your bills each month to avoid late fees.
EveryDollar is a great budgeting app. It follows a zero-based budget approach, which means it gives every dollar a purpose in your budget. A built-in monthly expense tracker allows you to connect to your bank to import transactions to keep up with your spending. You can even split expenses between multiple budget items. The tracker shows you the amount you've spent for the month and what you have left. There is a cost for the app, but a free trial is available.
Mobills' budget planning app is a bit more visual. It includes interactive charts that allow you to analyze your financial life. You can use this to make adjustments as you need toward other financial goals. You can add your credit cards so you can see your current balance and spending limits all in one place. This app also allows you to add your bills and due dates to keep track of when your bills need to be paid. There is a free version of the app with limited functionality; the premium will give you full access to all the app's features.
Acorns allow you to invest your spare change. It takes the spare change from any purchase you've made and invests it automatically into different portfolios. You can open an IRA, participate in active investing, and grab yourself one of their cool debit cards.
With Goodbudget, you portion out your monthly income toward specific spending categories. The app allows multiple devices to access the same account so family members can share a budget. After you add your account balances, you assign money toward spending categories, known as envelopes.
Dave is a money-management app that provides digital banking without some of the costs of traditional banking. With Dave, there are no overdraft fees, so you are spared additional costs that eat up your wallet. Dave also allows you to get cash advances and provides recommendations for making additional income. Dave gives you the chance to improve your overall financial outlook by helping you to manage your money and improve your credit score.
Apps allow you the opportunity to make better-informed decisions about your money. They give you a much better view of what your financial situation really is, and you can do all of this on the go. Overall, they're a great tool. You just have to find the one that best fits your needs.
Hopefully, this has been helpful to you. If so, share or comment below.