Managing your money in the digital area has never been easier. You can schedule transfers between accounts or individuals, deposit checks and check your balance all from your living room. Beyond banking apps though, there are several personal finance apps that can help you budget and further manage your money so you can stay on top of your financial health. What follows is a list of the top 5 best personal finance apps out there today.
This is a great app for managing your money overall. It was created by Intuit, the company behind TurboTax and QuickBooks. This app lets you keep a budget, track your spending, and conveniently connect all your financial accounts, including credit cards and bank accounts. It presents your bills and spending habits all in one place, so you don’t have to log into multiple sites. This app notifies you when bills are due, tells you about payments you need to make, and calculates what you can afford to pay based on your account balances and budget. It also reminds you when bills are coming up, helping you avoid dreaded late fees.
This app is an excellent tool for saving money. You connect it with your existing bank accounts, the app keeps track of your income and spending patterns and transfers a small amount of savings it doesn’t think you’ll need to a separate account managed by the app. The app runs off of the interest it generates from managing your savings account. It helps you find money to save that you didn’t even know you had.
Their desktop website offers you free credit scores and lets you examine your individual financial accounts to manage your credit to debt ratio, but the app takes it one step further. When you link your credit cards and bank accounts to the app, it lets you monitor your spending patterns. Based on the info you provide it, the app recommends better credit cards or loans that improve your financial picture.
This is the electronic version of the old-fashioned envelope budgeting method. Users decide how much from their budget to allocate for different spending categories, including groceries, entertainment, gas, rent, and other individual bills. Users record and track how much they’re spending from each category. Although it doesn’t let you connect your bank accounts or credit cards, it’s a simple, helpful tool to help you stick to a budget.
For those who have simplistic financial situations, such as only a few bills to pay each month, this app makes the most sense. It lets you know how much you can afford to spend each day, as well as how much money you can choose to place in a savings account. It’s a good way to keep your immediate, daily finances on track so your daily spending doesn’t get too out of control.
All of these apps are available for iPhone and Android smartphones. In addition, they contain built-in security measures and features to ensure your confidential information stays safe.