Controlling your personal finances is easier than ever thanks to the endless amounts of technology you have in the palm of your hand. Start taking advantage of this with the four apps we’ve outlined below.
This is an extremely popular app that should be on everyone’s phone. It works on iOS and Android devices and is completely free. Despite the price tag, it’s a comprehensive tool capable of monitoring your spending, savings, earnings and budget. You can sync it up to all of your accounts including your bank account, any mutual funds you have and your IRA or 401(k).
Aside from giving you an immediate overview of your finances, Mint.com also makes it really easy to drill into the details so you can look at things like your spending habits and budget. It’s also simple to schedule a monthly credit score (you get a free one when you download the app) and carry other important financial measures.
Read more at Mint.com
If you have a phobia about budgeting your money, this app can help get you started. Available on Android and iOS devices, GoodBudget works like the old school “envelopes system” so many of our parents and grandparents relied on. It turns out this deceptively simple method is still as effective as ever, especially when you can see all those envelopes on your phone.
The way it works is by letting you create “envelopes” of all your monthly costs. This can be anything from rent to utilities to eating out to entertainment. You decide what each amount will be. Then, with each paycheck, you allocate your funds accordingly. By doing so, you’ll know when you’re on pace to covering your liabilities and when you’re spending too much on nonessentials.
Read more at GoodBudget.com
Alright, now let’s deal with investing. If you’ve been putting that off, the Acorns app is an essential way to wade into this important priority. The way it works is simple: you sync it up to your preferred payment methods like debit and credit cards.
Then, every time you make a purchase, this app will round the amount up to the nearest dollar, take the difference and invest it for you. Over time, this spare change can really add up even just after a few months.
You still get to control how you’ll invest too. You can pick how the money is invested and automate the system so you do not constantly need to make decisions about buying or selling. The entire process is insured by the SPIC up to $500,000, so there’s nothing to worry about.
Read more at Acorns.com