Managing money, keeping up with a budget, and even handling investment decisions is easier than ever with the technology we hae at our disposal. This is particularly true now, given the abundance of personal finance apps on the market.
However, not every app for managing mobile money is worth downloading. With this list of top financial management apps, you can take some of the guesswork out of digitizing your finances.
Each of the apps listed is designated the best for a specific purpose, though several meet more than one objective.
Why Get a Financial Management App?
If you earn a lot or just get by, it’s essential to watch your money. There are many ways to keep an eye on your spending, investments, and more. But, since you’ll probably always have a cell phone in your pocket, apps are a great option.
Understanding your cash flow is a huge part of managing your finances successfully. How much comes in when it hits your bank account and where it goes are all essential aspects of financial success.
Luckily, the market is filled with money management software designed to help you see your bank balance, monitor your spending, and evaluate your customs. Some apps will help you make better financial decisions based on the data collected from your accounts.
Here are some of the best rated financial apps out there.
Personal Capital is one of the best apps available for money management. It allows you to track your budget while including your investment accounts’ information. The interface is intuitive, and it’s easy to see the visuals on your desktop, laptop, tablet, or phone.
Graphs of your investments are easily readable by asset class, investment account, or an individual investment, making it easy to track your investment performance and manage your portfolio. For certain situations, you will also get help from an investment specialist.
The budgeting functions of Personal Capital are not quite as sturdy or intuitive as some of the other money management tools, but they do the job. Personal Capital’s main advantage is that it considers your investments in the equation, giving you a holistic view of your overall financial picture.
Mint has long been a popular website and app for budgeting, and not for no cause. In addition to budgeting tools, Mint offers access to your investment accounts, like Personal Capital. But for Mint, the portion of the budgeting is the more substantial offer, while the section on investing feels a little like an afterthought.
If you want to keep a super-comprehensive schedule, Mint is a great choice. You can create as many categories of the budget as you wish, and you can categorize transactions on the go.
Mint pulls transactions from your bank accounts and credit cards automatically, so they are all in one place. Mint also analyzes your spending and gives you insight into your behaviors, helping you to see where you might change.
Empower combines budgeting with piling up savings. It’s an online banking and budgeting application that connects with your other financial accounts, tracking the activity to give you better control over your cash flow. You can set weekly and monthly spending limits in various categories in your life. Empower will remind you of how you are monitoring. You can also save easily via their AutoSave feature.
Simply set a target for weekly savings, and the app will automatically move extra funds into savings.
Besides budgeting, Empower will also be searching for savings in the patterns of spending. Empower will include a snapshot of your subscriptions and help you cancel any subscriptions that you no longer need.
Acorns take account of your virtual change. But, Acorns does invest the difference instead of saving it. With virtually no effort, the app lets you start investing. You’re already setting it up and preparing to go.
You can use Acorns only to round off your transactions, but you can also set up regular transfers to your account or improve your account with a one-time purchase. Acorns now features a new form of a shopping app, called Found Money. The brand partners will automatically invest in your Acorns account when you go shopping for those brands.
Wherever you go, you can get access to your financial condition. Many money management apps are both viewable online and on your mobile device, making it easy to look after your finances. Try these apps now!