Top 10 Money Management Apps
In the world of economics, money management is a necessary good.
However, keeping track and organizing your money is easier said than done. It’s easy for paid subscriptions like Netflix, Amazon, or Chegg to slip your mind and leave you short $40. While making sure money coming in is more than money going out can be a tedious task.
Nevertheless, we’re past the time of human error and pulling out a calculator to balance our checkbooks since we have apps that can complete what was once an extensive project with the click of a button.
To learn more about the best money management apps read below:
A tried and true way to stay on top of your expenses is Truebill. What more can we say about this app than it being a premium money management tool. This app has come in handy countless times when I, myself, have been suckered into a free trial for some new website and completely forgot about that trial to only found out my card had been charged a week later.
This app will remind you of upcoming, recurring payments and keep you updated on your card balance and on your savings and investments. While helping you save money, True Bill will also help you save the world which such in-app offers like ‘Save with Green Energy’.
What users have to say about it: Truebill has been the easiest app to load all of my bank accounts and investments and it’s keeping track of my bills for me. something I (along with most people who pay their bills!) am always worried about- is it getting paid on time? Am I paying more than I was? Do I have enough to cover upcoming bills? WHAT ARE my upcoming bills?? Reconciling through Quicken has always been (and I probably always will) a necessity for me. But Truebill has kept me from opening Quicken for over a week! I am getting all the info I need right now!
For those not as adept with technology, Mint is a surprisingly easy-to-use application. It offers multiple helpful tools for budgeting and increasing your net worth like financial reviews, budget support and alerts, as well as providing you with insights on your spending activities to help you save more.
What users have to say about it: Hi there – I have been using this app for budgeting and keeping track of my credit score for a couple or few years now. My score has grown over 50 points since I’ve been able to closely monitor it with this app. My favorite points to mention is the flexibility of this app – I’ve tried a few different budgeting “theories” or “systems” or whatever you want to call it and this app has always been there for me and I’ve been able to adapt the views and tracking to meet my needs.
For any green investors, Personal Capital is the app for you. With some of the best, user-friendly advisor tools including: Investment Checkup and Investment Fee Analyzer, this app makes investing a breeze.
While providing users with some of the most lucrative investing tools, Personal Capital also offers an array of applications designed to help build savings like the Financial Planner, Networth Tracker(which shows users their networth in real-time), and the Education Planner which helps users compare the cost of specific colleges and also analyzes what they need to save to graduate on time.
This app also has desktop capabilities, making it a multiplatform money management system.
What users have to say about it: I read a lot of online reviews of financial software offerings before I found Personal Capital. I love that I can get a big picture overview of my net worth, determine if I’m saving enough for my child’s education, if I’m saving enough for retirement, and seeing an aggregate of all my investments in one place.
Cost: $7 monthly
Goodbudget takes to heart the saying “Don’t fix what isn’t broken” by implementing proven systems of budgeting like Enveloping, which is the act of dividing up your funds into envelopes labeled for their purposes such as rent, utilities, and fun. The app also uses the Japanese’s ‘Kakeibo’ or “household account book,” a method of money management that helps you save for a large expense.
Goodbudget doesn’t only use dependable money management systems, but it also educates users on how to refine their budgeting skills with informative podcasts, budgeting webinars, and blog posts.
The app is also great for couples since it allows users sync budget on multiple phones.
What users have to say about it: I have been using the app for one year and it has helped me do a complete 180 with my finances. I use to always be broke living one paycheck to another and now I have money saved and bills paid the second they arrive. The app helps you see where all of your money is going as long as you input everything you spend. The app is super easy to input the expenses and only take a few seconds once you have all your categories set.
YNAB (You Need A Budget)
Cost: $14.99 monthly
While being one of the more expensive money management apps, YNAB or You Need A Budget is worth it. This app takes a proactive approach to budgeting by helping users determine their financial goals, keep track of overspending, and detail financial habits.
The app is also great for supporting those who are already in debt with its dynamic approach to budgeting. The ‘Assign Your Money’ tool puts funds towards a certain expense to make sure that your bills are paid on-time and that your not spending money you don’t have. And if you somehow do end up overspending, you can move your funds from a ‘fun’ category (e.g. personal care) to a higher priority category like rent/mortgage.
What users have to say about it: Most budget programs are set it and forget it. Which is the problem: once you set it, you forget it and you drift away from your spending plan. The beauty of YNAB is that it is flexible and dynamic, and allows you to adjust your spending plan as you need to. I found the program itself is well designed, reliable, and easy to use.
Digit takes a more passive, easy-going approach to budgeting that makes money management feel like less of a hassle.
The app reviews your budgeting goals—how much you want to save and when you want that amount to be achieved—and determines the best way to reach them by calculating your expenses and funds. Once completed, the app will tell you a reasonable amount to deposit in your savings or retirement account each day.
What users have to say about it: I absolutely love this app. I downloaded it thinking I’d try it out but I was expecting to delete it like I have all the others. I honestly had forgotten about it until I checked my bank account and noticed I had a few bucks a day being deducted by digit. So I checked my digit account and was shocked that I’d already saved close to $100! I downloaded the app in May and between the rainy day account and the travel fund I started, I’ve saved almost $800!
Cost: $1 – $9 monthly
If you’re looking to dip your toes into ETFS and stocks, Stash is right for you. The app has no account minimum and lets you choose what to pay, based on the services and accounts you’re looking to use. Stash also allows users to buy fractional shares of stocks and provides recommendations on investments, based on your portfolio.
In addition to its great reputation as an investing app, Stash is great for budgeting as well. Some of its best features allows users to create saving goals and automatically puts money away to help users achieve their goals. The platform also tracks spending, so you users can gain insight into their monthly spending habits and determine the best area to spend less—e.g. fast food, shopping, or recreation—to help them save more.
What users have to say about it: I am an average person with a job that barley pays over the poverty line. I realize that if I’m to build wealth with the little bit of money I’m able to get I needed help but didn’t know the first place to start. So when my friend suggested that I should get the stash app. I was hesitant at first because I didn’t know anything about investing or portfolios much less how to choose which stocks to buy or more importantly which ones not to. Since I’ve had stash I can say that I have a better idea of the process and all my questions have been answered and even questions that I didn’t know to ask.
An often overlooked money management tool is couponing. Couponing can save you hundreds-to-thousands on everyday expenses and emergency care; one of the most reliable couponing apps is Honey.
Honey is a browser extension that finds and applies coupon codes to items within your digital cart. Found the purse of your dreams, but it’s over your budget? Well, this browser extension can find the best deal within your budget to prevent you from overspending on anything.
The best part about Honey though isn’t even the deals, but the fact that you can make money while spending money. This app allows users to earn rewards from popular retailers such as Target, Apple, and Chipotle.
What users have to say about it: I almost never write reviews, i just tap a star and keep it moving. But I just downloaded this app because was a little short on money but my birthday just passed and I wanted to treat myself to something a little nice. I saw the coupon option and immediately thought about those ads I used to see about honey and thought “why not”. Bro…..it saved me $10 on the first coupon I tried, then $12 on the next one I tried, basically canceling out the shipping and then a couple bucks.
Medical expenses have proven to be one of the highest and most difficult expenses to pay off. However, with GoodRx you won’t ever have to worry about breaking your budget when buying necessary and life-saving prescriptions.
GoodRx provides users with coupons that can save them up to 80% on medications from popular retailers, free of charge.
This app is a necessity for everyone, but particularly low income and uninsured individuals.
What users have to say about it: I don’t understand how Good Rx negotiates these prices, but I am a physician, a cardiologist, and I tell all my patients to compare Good Rx prices with their $15,000 to 20,000/year health insurance provided prescription benefits. From their feedback and my own experience, Good Rx is more often than not better than even thru their health insurance benefits.
Another great app to use to make money while spending money is Fetch Rewards. This app turns all your receipts from retailers and restaurants into cash.
The way that this app works is by aggregating all the receipts you scanned and turning them into points. Those points later translate to gift cards from popular stores like Amazon, Best Buy, Visa, and more.
With Fetch Rewards, you can expect anything from 250-2,000 points ($.25 cents – $2.00) per receipt.
What users have to say about it: I absolutely love this app. It’s ridiculously easy to use. So simple just take a picture of EVERY receipt you get for anything from anywhere and you start stacking up points immediately and super fast. I just downloaded this app took maybe 10 receipt pictures and I’m already almost to 5,000 points!!!!
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