It’s not easy to manage money. Many of us don’t balance a checkbook nowadays and it can be difficult to track and maintain the banking balance. Personal financial apps can connect to your bank account and help you keep your expenses up to date. They can help you identify areas of your expenses, track up future bill payments (some of them allow you to pay your bills right through the app), and keep your loan score and investment portfolio up to date.
Benefits of Personal Financing Apps
The best personal financing applications provide a wide range of features for managing your overall finances (email records, due dates, subscriptions, shared wallets, etc.). If you have a loan or need to take one it is an excellent starting place. For instance, if you have taken a personal loan for a wedding and you want to get rid of debt, one of the apps listed below can help.
The successful management of your money means you keep an eye on your expenses. Free software for personal finance could be surprisingly robust, helping you to track expenses, create and manage budgets and report on them. All of the apps listed on iOS and Android are available so you can enjoy whatever smartphone you use.
Best Personal Finance Apps
Mint – best for overall
Mint, the personal finance app from Intuit, is one of the most highly regarded apps to provide your full financial picture. With more than 25 million users, this is one of the most common budgeting applications available. For budgeters of all levels, the app is free and easy to use. Once you have connected your credit cards and debit cards to your account, the Mint categorizes and displays how you spend your money. You can track your bills and expenditures and build a budget to which you can adhere. This site gives you free access to your credit score and you can see a breakdown of the factors that help to improve your credit health. In addition, you can monitor your investments and administer payments for utilities.
|Free personal finance app||In-app advertisements|
|Free TransUnion credit score updates||Technical issues|
PocketGuard – best to keep from overspending
PocketGuard helps to curb overspending. The app uses an algorithm to track the amount you can spend each day, your income, your expenses, and your savings goals. These limitations make it easier to stop overusing your financial goals and take control of them. The app has free and paid premium version plans. This budgeting app connects you to all your financial accounts and helps you keep track of your budget all month round.
This app is one of the easiest to connect to and install your bank accounts. To start, you have to connect to your accounts for checks, savings, and credit cards. The app can see what you spend, where you can save, and remember when credit card charges are due. The “In My Pocket” feature of PocketGuard uses an algorithm to figure out how much money can be spent on your income, goals, recent expenditure and budgets. This budgeting application even has a feature to help you track every single project, and find ways to save. To find better solutions to your monthly services, it searches for recurring telephone, TV, and Internet bills for example. It helps you not only to track your budget but also to lower your expenditure.
|Free basic budgeting||Cost for pro version|
|Easy to use||Complaints about technical issues|
YNAB (You Need a Budget) – best for debt repayment
Due to its budgeting philosophy, YNAB is at the top of many financial app lists. The company offers a free trial of $84/year for 34 days (no credit card necessary). The cost is $11,99 a month if you’d prefer to pay less on time.
YNAB can sync, import your information from a file or manually enter each transaction. You can easily access your accounts in YNAB. The company proposes first of all to learn the essentials of the app through video courses, live workshops, or a guide. Instead of tracking what you have already invested, YNAB offers a proactive budgeting approach.
Once your first budget is signed up, you will allot every dollar a fee, such as rental or car payment. The aim is to get at least one month ahead so that the money you got from 30 days ago is spent. The company provides comprehensive training resources and customer support to track you.
In YNAB, the highest priority is privacy and safety. The company protects your information through bank encryption for all data, best practice for password security, audits by third parties, and much more.
|Free 34-day trial||Cost ($84/year)|
|Complete budget makeover||An intensive system that takes time to learn|
There can be an infinite number of budgeting apps that can help you manage your money and build solid financial habits, you just need to find one that works best for you.