Managing our finances always prove to be taxing and insurmountable at times. Detailing every single dollar that comes in and out of our accounts is just too much. But, it doesn’t need to be that difficult. With the help of personal finance apps, you can now manage your finances effectively.
Personal finance apps can help you with a lot of things. They can connect with your bank account and help you monitor your spending. They can also keep track of upcoming bill payments, check your credit score, help you out with a debt repayment calculator or any financial calculator, and even pinpoint specific expense categories that you have been spending on.
Some personal finance apps even provide clients with various features that can accommodate their needs. This includes bill due dates, email reminders, shared wallets, track subscriptions, and others. Below are some of the best personal finance apps you can check out:
Mint
Mint is the most popular personal finance app in the market today. Intuit developed this app, and it is absolutely free to use. Moreover, Mint has multiple features that can help you understand your finances much easier.
For example, after you connect your personal accounts to the app, it will automatically use that information to make suggestions about the best budget options that fit your current financial situation. The app will also categorize the budget options into “entertainment,” “lifestyle,” and others. You can then freely use the data to decide what area of spending you should cut back on to save more money.
Recently, the app has introduced access to your credit score. This will allow you to know the breakdown of the factors that influences your overall credit score. Also, because of this, you can now find ways to improve those factors and eventually improve your overall credit score.
You Need A Budget (YNAB)
One of the things YNAB asks you to do is to prepare a budget goal, such as a major expense or a holiday. After that, you will then be asked to link your accounts, and YNAB will then import all of your transactions. They will then give you the option to assign each of the transactions to a specific category.
Your account balance will also be incorporated through the app. It will be brought to a debt manager to give you an accurate idea of your financial status. Once that is done, you can freely check your detailed financial reports to know how much you have spent.
YNAB stated that an average new user could save up to $600 in the first two months of using the app. This computes to about $6,000 a year. However, it is best to know that this app is not free. You will be required to pay about $6.99 per month.
Quicken
Quicken has been in business for more than 30 years. It is trusted by over 17 million members globally. That is why it is considered one of the best personal finance apps worldwide.
In order to use Quicken, you might need to pay with cash first. However, don’t be discouraged. This is because Quicken can provide you with a 30-day full money-back guarantee if you think the app is not right for you.
Quicken has features such as investment tracking, payment tracking, budgeting, and it even safely stores all of your data. Moreover, Quicken also now offers credit cards for all of its members. By using the credit card, you can now monitor the pending transactions, purchases, budgets, bills, and spending habits.
Prism
Prism has a goal to eliminate the need to log in to different financial accounts just to get a glimpse of your current financial situation. This app was developed to allow its clients to view and pay all of their bills in one location.
Setting up your account in Prism might take time. However, once you have successfully done it, the app will automatically send you due date reminders and will even pay your bills if you want them to.
Just like any of the apps on the list, Prism can let you view all of your financial accounts. However, what makes this app stand out is the payment management and bill tracking feature they offer to its users.
Spendee
Spendee is an app that can allow you to manage shared expenses or open shared accounts you have with friends or family members. You can opt to link all your personal accounts and vital data to this account to get started. Once that is done, Spendee will use the information and translate your current financial status into something easier for you to understand.
Spendee can help you out if you find it quite challenging to set up a budget. Not only that, this app also has a bill tracker. This means you don’t have to worry about forgetting your bill payments any time soon.
Apps Make Financial Management Easy
If you opt to manage your finances on your own without any help, it can be challenging. However, with personal finance apps, managing your funds can now be easier than before. Not only that, personal finance apps can help you stay on top of your finances and can provide a glimpse of where you are financially, even in just a few seconds.
