Are you struggling to get your finances in order? Is a pencil and paper drafted budget or that endless spreadsheet just too time consuming to manage? If any of these describe your situation, you do not have to worry anymore! Fortunately, there are plenty of budgeting and bookkeeping apps that allow you to easily track your spending, save money, and pay your household bills simply by using your phone and tablet, especially when you are habitual at checking your phone many times a day.
In fact, managing your money, sticking to your budget plans, and even making investment decisions are far easier with today’s smart personal finance apps. However, every tool out there is neither suitable to your needs nor worth downloading and learning to use. That is why we have come up with our favorite 5 essential apps that will help you to monitor your spending habits, save money, and pay your household bills on the spot and on the go.
1. Mint: Best Way to Manage Your Finances
Mint is among the most essential apps for personal finance to help you effortlessly manage your money simply in one place. In fact, it is an effective all-in-one tool for budgeting, tracking your spending and household bills, and getting smarter with your money. In addition to your monthly bills, it allows you to connect all of your bank and credit card accounts easily. Thus, with all of your finances conveniently in one place, you get rid of the hassle of logging into multiple sites.
With Mint, you can create budgets seamlessly, get suggestions based on your spending, schedule payments on the go, get reminders, get specific advice to get control over your money and budget, and eventually improve your financial outlook. The free credit store is another advantage. This truly is an all in one package deal.
2. Wally: Seamlessly Track Your Money
Just like being organized with your workplace expenses reports, if you want to stay updated with your personal expense tracking as well, then Wally is a great choice and free essential app in this regard. Simply take a picture of your receipts with Wally rather than manually logging your expenses. This app also saves your time by filling in data when you use geo-location on your smart device. This neat, streamlined app is immensely convenient to use, especially to gain better insight into where your dollars are going.
3. Digit: Automate Your Savings
If you are looking for ways to automate your savings, then Digit is one of the most essential apps to make saving your inherent habit. When you connect it to one of your bank accounts, the app analyzes your income and spending patterns. Based on that pattern, the app then puts aside a certain portion of your funds in an FDIC-insured bank account for spending purposes that you can access and take out money from conveniently at any time. Communicating with Digit is simple and fun: simply open the app or text the bot to know how you are doing. Thus, making it super easy to set up different savings goals. In addition, you earn Digit savings 1%-annually, paid-out every quarter and backed by a no-overdraft guarantee. You receive a text every morning telling you to check your account balance, which is another great feature. Surprisingly, it offers a 100-day free trial for both iOS and Android users.
4. Credit Karma: Improve Your Creditworthiness
If you are seeking ways to raise your credit score, then Credit Karma is one of the most essential apps and an indispensable smart tool to achieve your goal. Not only does it update you with your Equifax® and TransUnion® credit scores, but it also gives you insightful recommendations to boost your creditworthiness. It can provide you complete a TransUnion credit report in-app upon request that you can use to view (and dispute) disparaging signs on your account and you can view a comprehensive breakdown of your credit usage. Fortunately, this is also free. Credit Karma does share your personal information with Equifax and Transunion.
5. Clarity Money: Monitor Your Credit Score and Cancel Subscriptions
Credit Money is another one of the most essential apps you can use to track your credit accounts that is especially important in consideration of the recent Equifax breach. This nicely designed budgeting tool ensures an easier execution of your routine financial tasks. In addition, it also allows you to set up automated savings for certain goals.
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