Nowadays, it is essential to fully understand your income and spending habits in order to stick to a monthly budget. While manually keeping track of every expense and transaction may be taxing, budgeting apps have greatly simplified the process. Here are some of the best apps that help you manage your money.
Mint is one of the best and most popular apps to manage money available, and for good reason. The app helps you to monitor your personal finances by tracking your credit cards, investments, and daily spending. Mint also has a feature that sends you reminders to pay your upcoming bills. The app also allows you to check your credit score so you can get an idea of how to improve it. What makes Mint stand out from the crowd is that it is completely free, however, you may encounter ads occasionally while using the app.
You Need a Budget
You Need a Budget (YNAB) is a budgeting app that specializes in helping people gain control of their spending and get out of debt. To achieve this, (YNAB) comes with an extensive list of features, such as the ability to sync bank accounts, import transactions, and customize spending categories. YNAB even offers online workshops and educational resources which help in learning how to budget. YNAB costs $14.99 per month or $98.99 per year, but you can get a trial for the first 34 days to try out the app for free.
Goodbudget is an app that uses the envelope system to manage money. This involves allocating a certain budget for different spending categories and placing that money in digital envelopes. The envelope method aims to limit spending to whatever amount has been set in each envelope to avoid overspending. The free version of the app lets users create 20 envelopes, whereas Goodbudget Plus gives you unlimited envelopes for $7 per month or $60 per year.
With Personal Capital, you can track your investments with a wide host of portfolio management tools. The app also gives you access to financial professionals who can better explain your current financial situation and how to achieve your goals. Personal Capital even includes a retirement planner tool to help manage your money for the long term. Apart from that, you will be getting the standard features such as syncing accounts and budgeting. The app is free, but users have to option to add investment management services for 0.89% of their balance for accounts with less than $1 million.