Since personal finance is never formally taught in school, learning how to manage your money properly can come with quite a steep learning curve. It’s very tough to know how to get started or whether you’re doing what you’re supposed to. Luckily, this is an incredibly common problem.
Since so many people struggle with it, plenty of apps have been designed to help make managing your money as painless as possible. “Managing your money” can be a little bit of a broad topic, so we’ve selected our favorite apps when it comes to budgeting, managing money with your spouse, getting a loan, and investing.
This article will take a quick look at the best mobile apps for managing your money.
PocketGuard is one of the simplest ways to keep track of your finances.
PocketGuard – This app tracks your spending and then anticipates what recurring bills you have. Once it knows what your monthly bills look like, it will show you how much spendable money you have while accounting for these expenditures. PocketGuard is also great for creating a plan to pay off your debts.
Honeydue (Budgeting for couples)
Honeydue makes money management easier for married couples
Managing your money is tough to do. However, it can become twice as hard when you’re married. Being married means two incomes, two different spending habits, two savings/investing goals, etc.
Honeydue makes money management easier for married couples by making it easy to track your accounts, coordinate bills, and even chat about financial topics within the app.
Sofi is a little bit of a “jack of all trades” when it comes to personal finance.
Sofi – Their main focus is offering loans to their customers and they have 17 different loan or refinancing products that you can choose from. However, they also have Sofi invest which allows you to invest in stocks, bonds, ETFs, and cryptocurrency.
In total, they’ve helped their members get access to $59 billion in loans and pay off $22 billion. They have about 2 million members total.
Acorns is one of the best apps that you can use to help automate your investing.
Acorns – They were one of the first apps to create “round-up” investing. What this does is simply round up each purchase that you make with your debit card and then invest this “spare change” into a low-cost index fund. It’s basically the modern day equivalent to saving your lose change in a jar.
Their app is incredibly easy to use and, once you get started, the entire process is automated.
Your banking app
If you use a major bank (Bank of America, Chase, Wells Fargo, etc.) then there’s a good chance that their app will have almost everything you need. Additionally, since you already use this company to handle your saving/spending, it can be easy to also use them for budgeting.
Most of these apps do a good job of breaking down your spending, helping you budget, and save/invest money. Before committing to a 3rd party app, open up your banking app to see if they already offer the functionality that you need.
Do you know of other apps? Please comment in the box below!
We hope that you’ve found this article valuable when it comes to learning the best mobile apps for managing your money. If you’re interested in learning more, please subscribe below to get alerted of new articles as we write them!