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Money is tighter than ever these days; every penny you have is important. If the coronavirus hasn’t made you worry more about money, then recent news that the economy entered a recession earlier this year should definitely make you want to save more and spend less. Fortunately, when it comes to managing your money a little more closely, you don’t have to go it alone. Numerous great apps exist that can help you put your smartphone, tablet, or any other mobile device to work keeping track of your finances. Here are six of the best apps for managing money that you can download today.
It’s no surprise that Mint is one of the most popular money-management apps. Available both in the App Store and on Google Play, Mint allows you to visualize and track all your major financial activities. You simply build a profile in the app with all your financial accounts, such as savings, investments, loans, and credit cards. Then, Mint allows you to visualize your finances clearly. You can also use Mint to create and track a household budget or monitor your credit score. If you want to make managing your money easier, this is a great app to use.
If you’re like most people, it can be difficult to find time in your fast-paced life to analyze great financial opportunities and then invest in them. Fortunately, there’s a great app available called Acorns that can get you on the track to investing. Acorns allows you to automatically invest all the spare change from small transactions that would normally end up lost in the seat cushions of your living room sofa. The app links to your credit and debit cards and then rounds up every purchase you make. Then, Acorns takes that spare change and invests it in an Exchange Traded Fund (ETF) at a risk level of your choosing. Therefore, every time you buy a latte at the coffee shop or some other purchase, you’ll also be investing your money.
If you want to manage your money more effectively, taking a more deliberate approach when you’re shopping for groceries or retail items can be helpful. Thankfully, apps such as Ibotta help you make the most of every trip to your local supermarket or big box store. Ibotta is a savings app that finds rebates on many of the most common grocery items that you buy each week. When you purchase a selected item that has rebates available in the app, you simply scan the receipt and get credit that you can redeem into PayPal. Additionally, when you enable location tracking, Ibotta can often find bargains you’d likely be interested in based upon your shopping preferences and save you money on items you weren’t even thinking about.
4. Personal Capital
Another one of the best apps for managing money is Personal Capital. If you have a wide variety of investments in more than one account, it can be difficult to track them all. Personal Capital can make managing your investments much easier. The app links to your various accounts and analyzes your overall investment portfolio. You can use Personal Capital to assess how well or poorly your investments are performing, as well as how much you’re spending on investment fees. It also includes powerful budgeting tools to help you manage your money more effectively. If your assets include many stocks, mutual funds, and other financial securities, this is a great app to help you manage everything.
If you find yourself unable to effectively set and meet any type of personal financial goals, you should think about trying You Need a Budget or YNAB. YNAB is available for Android and Apple devices and is one of the most powerful goal-oriented budget apps available. This great app allows you to set key financial goals for things such as saving, investing, or major purchases. Then, it allows you to design and track a budget in real-time to help you meet those goals. While you do have to pay a modest monthly fee to use this app, it’s a small price to pay to get your household budget under control.
If you’re looking for a simple-to-use, no-nonsense budgeting app, Wally makes it easy to budget the money you earn, spend, save, and invest. While it’s not as powerful as many other budgeting apps, it does have features that can make it useful for many consumers. For starters, it has a built-in receipt tracking system that allows you to scan or photograph receipts. This is a handy tool if you’re a contractor or sole proprietor who needs to keep close track of business expenses. Additionally, Wally supports foreign currencies, which is extremely useful if you travel or do business with people in other countries.
Manage Money with Your Apps
Managing your money can be challenging, especially in today’s uncertain environment. However, if you download these great apps, you’ll be able to build and manage a budget and set financial goals that you can track in real-time. You might even save some money on your next stock trade or trip to the grocery store, too. Download a few of the best apps for managing money and put them to work for you today!