Post Holidays is the best time to reevaluate your budget, spending, and financial wellbeing. The new year brings new beginnings, and our finances and budgets always need a refocus to get back on track. Here are a few apps available for your smartphone that can make the process a bit easier.
Acorns is a great way to build up some savings. It rounds up the purchases you make to the nearest dollar and saves the difference. With as little as five dollars, you’re able to invest and building a small nest egg from there. They also have platforms that help you save for retirement or college. The app also supplies you with an educational aspect that enables you to learn about personal financing too!
Mint has been the go-to for budgeting apps for some time. This app automatically updates and categorizes transactions; it creates a real-time picture of your spending. You can add personalized categories, track bills, split ATM transactions into what you bought, and set budgets. This app will also send you alerts when you’re getting close to reaching your budget. The app also provides a free credit score so that you can see your financial picture as a whole.
YNAB or You Need A Budget, is said to be a great budgeting tool. This app does come at a bit of a price, at $83.99 a year or $6.99 a month, but you do receive an initial 34-day free trial. This app imports your transactions from your current bank accounts and from there you can categorize your funds into an envelope-based system, helping you keep track of spending, giving you a platform to see your financial life in one spot.
PocketGuard is a great app to help you know how much they have for spending. It shows you how much money is available after accounting for bills, expenses, and savings contributions. Users of this app can view how much money is left to spend on other things between paychecks. It also gives you the option to go more in-depth on your spending and track where your extra cash is going.
Spendee is a well-received app that allows you to connect bank accounts as well as cryptocurrencies and E-wallets and inputs your cash expenses manually to give you a full view of how your financial life stands each month. This app gives you updates, set budgets, and lets you see how much you’re able to spend per day without going over your budget. There is a shared-wallet option for couples and families. A shared wallet lets you include information from every user’s connected accounts and provides you with an overall view to see how you can meet your financial goals as a team. Save for significant expenses, like a vacation or tuition costs. All of your financial summary information is provided in graphics and charts, making things easy to read and help you visualize exactly where you are financially.
When our finances are in the right place, it seems the rest of life is manageable. Knowing that we are covered financially and prepared for a rainy day is such a great feeling. Budgeting can be challenging and confusing, but with a few useful apps and some self-control, the process can be made a lot easier.