5 Best Financial Planning Apps to Help Manage Your Money
Managing your finances is not only important, but it’s also essential if you want to build wealth and financial security. With the advanced technology available nowadays, you no longer have to track your finances on paper. Instead, you can use financial planning apps to make managing your money easier, efficient, and hassle-free.
Here are the top five financial planning apps that can help you manage your finances effectively:
1. Mint
Mint is a free financial planning app that lets you keep track of your bills, debt, budget, and credit score all in one place. With Mint, you can easily stay on top of your finances, create and track budgets, set financial goals, and get personalized financial insights.
The app securely connects with your bank accounts and credit card to track your transactions and automatically categorizes them for you. This feature makes it easy to see where your money is going and where you need to cut back to stay on budget.
2. PocketGuard
PocketGuard is another free app that helps you manage your finances, but with a more concise approach. This app shows you how much money you have available to spend each month, after accounting for your bills, savings, and goals. The app provides a real-time picture of your finances by syncing to your bank accounts and credit cards.
PocketGuard can also help you find ways to reduce your bills and offers suggestions for lower rate services such as car insurance, cell phone plans, and internet providers.
3. You Need a Budget (YNAB)
You Need a Budget, or YNAB, is a paid app that provides a full-suite personal finance solution. The app prioritizes budgeting, helping users assign their money to specific budget categories such as rent, utilities, groceries and many more.
This approach helps users better understand where they are over-spending and where they can save. YNAB’s educational resources also help users learn best financial practices and strategies that can improve their financial planning.
4. Personal Capital
Personal Capital is a free app that focuses on investment tracking and wealth management. This app provides a full-scale view of your net worth, including bank accounts, investment accounts, and debt (such as mortgage or student loans).
By including investments, Personal Capital gives a comprehensive picture of your total wealth to help you better understand how to meet financial goals. Personal Capital’s professional services include portfolio management, investment advising, and private banking.
5. Acorns
Acorns is a paid app that helps users invest their spare change. With Acorns, users connect their bank accounts and credit or debit cards. Every time they spend, Acorns rounds up the transaction to the nearest dollar and invests the extra change into your pre-built portfolio.
This automated investment strategy helps users grow a solid investment account without having to think about it actively. The app offers different accounts such as IRA, Roth IRA or a regular investment account.
Conclusion
In conclusion, managing your finances can be simplified by using financial planning apps. These apps offer a range of features that can help you keep track of your spending, create and track budgets, set financial goals, and grow your wealth. While there are plenty of options available, the above list highlight the five best financial planning apps available on the market today.
