As technology continues to advance from what may have seemed impossible years ago, what better way to embrace the changes and use it to your advantage? With the countless personal finance applications that are out there it can be difficult to know which ones are actually worth using and which ones you’re better off swiping past. I was curious so I took a dive into each one of these apps to see for myself which ones are best to use. Here’s my top 4 free and best personal finance apps that I think are worth using.
1. Mint: This is my favorite app to use. You can sync just about everything finance related – from your bank accounts, credit cards, car loans and your 401k. You can setup alerts to notify you when a bill is due, deposit was made or large transaction occurred. You can also set certain budget limits – separated by categories. For example, groceries, cosmetics, etc. accompanied with alerts to notify you when you’re approaching your budget limit for the month.
2. Acorn: With this app you will also have the ability to sync or connect your checking and credit cards too. Let’s say you spend $4.45 on your daily Venti Mocha Latte Frap, Acorn will then take the remaining change of $0.55 and transfer that money automatically into an investment account in low-cost ETFs. You have the ability to withdrawal at any time with no penalties. The fee is only $1.00 per month up to $5,000 or 0.25% annually for accounts greater than $5,000.
3. Qapital: Save that money! They have a “round it all up” feature that lets you round up your change every time you make a purchase with your debit or credit card linked to the Qapital account. Average users are saving $44 per month using this. You can also create a rule that saves a set amount of money when you give in to your guilty pleasures.
4. Venmo: Tired of watching the Chase commercials and them talking about how easy their Quick Pay feature is? Well worry no more! Venmo is an easy tool that you can use to transfer monies to friends or families using your personal banking account(s). No more embarrassing moments of pulling your eyeglasses out and dissecting the dinner bill at the restaurant!
Think about the money you can set aside for your next vacation or even that DIY project you’ve been putting off. If not even for that, use the money that you can save for your children’s or grandchildren’s college tuition. Organize your personal finances with the touch of a finger. No more overflowing filing cabinets filled with statements and excel sheets. Being more organized will help give you a better peace of mind.
Stay well and have fun saving!