7 Money Management Apps to Help You Budget, Stop Overspending, and Gain Control
Looking to gain control of your spending habits? Want to keep track of your transactions? Just hoping to find an easy way to budget? In today's age, you don't need a pen and paper or even Excel to conveniently manage your money. There are numerous apps that you can easily download to and access on your phone, and the good news is that many of them are free.
From tracking your spending, keeping track of your expenses, staying on top of your bank accounts, knowing when your credit card payments are due, and managing your debt, these four free personal finance apps will keep you up to date with your spending habits, transactions, and financial goals.
1. Mint
This app comes from Intuit, the creator of TurboTax and QuickBooks. One of the most comprehensive money management apps available, Mint allows you to store all your financial information in one place by linking your bank accounts, credit cards, and bills. That means you can manage all money-related concerns through just one login each month.
The app will send you alerts and reminders when bills are due and lets you know if there is any unusal activity in any of your accounts. You can also create a budget and keep track of your spending. Additionally, Mint provides free access to your credit score and gives you personalized financial advice on how to improve it and gain better control over your finances based on your habits and needs.
This app allows you to stay on track financially and meet your savings and investment goals by enabling you to see your net worth, set a budget, manage investment accounts, and plan for retirement.
You'll see all your accounts in one place, as well as receive analysis of your investments. The app will also alert you to any hidden fees associated with your accounts for greater control over your money.
3. Wally
This personal finance tracking app is easy to use—you simply take pictures of your receipts or input your expenses, and Wally will keep track of them for you and help you compare your purchases to your income. If you allow the app to use geo-location, it will input all the details (such as where, when, and how much) without you having to fill out the information manually. It's simple, straightforward, and easy to use.
4. Simple
Along with being a money management and budgeting mobile app, Simple is an actual bank account that replaces your checking account. You can set financial goals, transfer money to friends, and set up a shared account with a partner or family member.
Other easy-to-use personal finance apps
If you're in debt, need financial advice beyond simple budgeting tips, or having more complex money questions or issues, you may need to spend a little money in order to maximize your savings and earning potential. Here are tools to help you manage your personal finances that have a low subscription or download fee.
If you want to get out of debt, this personal finance software is for you. The app not only allows you to sync your bank accounts and keep track of your spending, but also offers tools, workshops, podcasts, a newsletter, and other advice to help you avoid overspending, meet your savings goals, and become more money savvy.
The app is free to use for the first 34 days, and then it costs $83.99 per year ($6.99/month).
2. GoodBudget
This app allows you divide expenses into virtual envelopes of different categories, such as household bills, groceries, and so on (perhaps that's why it used to be called Easy Envelope Budget Aid). You will create a set budget for each envelope, so you know when to stop spending out of each category. You are also able to sync and share your expenses with your partner or family member.
The app gives you 10 envelopes and one account for free. For unlimited accounts and envelopes, you'll pay $6/month or $50/year.
3. Acorns
If you're looking for a painless way to invest your money, Acorns is a good place to start. Connect your credit card or debit card account, and every time you make a purchase, Acorns will round up to the nearest dollar and deposit your spare change into an investing account. You can also set up one-time or recurring investments. You'll grow your investments by referring friends and shopping at popular brands, too.
The most basic model costs $1/month and is free for college students.
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