Everyone wants to manage their finances well, but not everyone knows how or where to start. Fortunately, help is available. The following are 10 personal finance apps that will actually improve your finances so you can plan and prepare for the future.
Goodbudget– Goodbudget is based on a budgeting style called the envelope system, wherein envelopes (virtual envelopes in this case) are set up for each category and funded with the allotted budget for that category. This app syncs across multiple devices. It also generates reports via the mobile app and allows you download transactions to Excel online. Goodbudget has a free plan, and its plus plan is $5 a month.
Mint– Mint allows you to merge all your bank accounts, credit cards, and bills into one app to provide an accurate snapshot of your financial position. It allows you to categorize transactions, and you can create a budget, track spending, get bill reminders, obtain your credit score, and receive tips on how you can save money. Mint was created by Intuit, so it will work with other Intuit apps, such as TurboTax, QuickBooks, and Payroll. The app is free to use and available online and as a mobile app.
You Need a Budget– The You Need a Budget app forces you to live within your means. It won’t allow you to set a budget for money you don’t have. The app allows you to check balances across categories, so you know whether you have enough to spend at any given moment. You can enter transactions anywhere, and You Need a Budget will sync that information across all devices. There is a $50 annual fee.
Wally– With Wally, you can create a budget, take a photo of your receipts, and export the data into an Excel spreadsheet. You can set smart notifications to remind you of bill payments or even to let you know if you achieved a goal. In addition, Wally has location services, which can identify where you are, so all you have to do is enter the amount spent. Wally is free to use and available as a mobile app, but computer access is coming soon.
Quicken– Quicken has both a personal and business version. With the personal version, you can manage your entire financial portfolio, such as your mortgage, bills, and investments. The business version helps manage your taxes and business ledger. Quicken pricing begins at $39.99 and is available for PC, Mac, and mobile devices.
Tiller– TheTiller app links to your bank account and downloads your transactions into a Google spreadsheet. There are many templates available, including a template for budgeting and tracking net worth. Tiller is an online service and offers a 30-day trial, after which the price is $5 a month.
Debitize– Debitize allows you to use your credit cards without the negative side effects, such as overspending. Whenever you make a credit card purchase, Debitize will deduct that amount from your checking account. Then when the credit card bill is due, the money will be pulled from your account to pay it. Debitize is free to use and is a web-based tool.
Mvelopes– Much like Goodbudget, Mvelopes is also based on the envelope system. With it you can plan your budget, set up categories, and track money left to spend. You can capture receipts with your phone and get budget updates in real time. Mvelopes’ pricing begins at $4 a month, and it is available for both desktop and phone with a higher subscription plan.
Credit Karma – Credit Karma is all about helping you improve your credit. The app offers a free credit score and monitors its fluctuations based on financial activity. Based on your score and credit history, Credit Karma offers suggestions to help increase your score and even tells you what credit cards are likely to approve you. Credit Karma is free to use and is available online and as a mobile app.
Acorns – The Acorns app helps you painlessly save money. Link a card to the app and whenever you spend money, Acorns will round up the amount up to the next highest dollar and invest it for you in exchange-traded funds that you select yourself. Acorns is free for students; otherwise it is $1 a month.
With so many helpful tools available, there’s no reason to remain in an unhealthy financial situation. There’s something for everyone in these apps. Decide which will help you reach your goals so you can begin to take control of your financial future.
