Approximately 39% of every household in the U.S. is in debt every month.
Managing money, clearing debts and making good investment decisions is quite difficult. But due to technological advancement, it has never been easier to control your money, create a budget and even earn extra income.
Are you are tired of seeing your money go away on expenses, and loan payments? Keep reading as we list down ten super helpful personal finance apps that will help you take control of your money.
1. ChangEd
This is a great app for managing your debt. It’s available for both Android and iPhones. The app is free but has a cost of $1 every month. The app synchronizes your bank account expenditure, analyzes your buying patterns, and estimates all purchases to the next dollar.
The app then calculates the difference between your expenditure and the money remaining in the bank. The app then deposits this change into an account. When the account has more than $100, the app automatically pays off debt with the $100.
This app is very convenient for paying long-term debts such as student loans.
2. Mint
This app is great for making a budget, evaluating your spending patterns and finding ways to save your money. It’s a free app created by Intuit Inc. Mint lets you take control of your money by reminding you when your bills are due. It also serves as a financial literacy app informing you of any debt that you may have.
Besides, the app syncs all your bank account balances and lets you know when you are approaching your budget limits. It can also give you advice about managing your spending to take more control of your money.
3. Acorns
This is an app that allows you to take control of your spending behavior. The app is synced with your bank account and each time you make a purchase, the app rounds off the amount you spend to the next dollar.
The app then does something productive with the difference. It invests the change in an exchange-traded fund based on the risk preference of your own liking.
The app is free to download but it costs $1 per month. Acorn is the best app for turning your pocket change into valuable investment cash.
4. YNAB
This is one of the best personal finance apps for taking control of your money. The app allows you to create a budget. The main slogan used by YNAB is “a job for every dollar.” The app is available for both Android and iPhones.
The app costs $6.99 per month but its totally worth it. Many of the users of the app have given it positive reviews with some arguing that they saved more than $200 in the first month after using the app.
5. Wally
This app is similar to YNAB but with a different feature. It incorporates the use of foreign currencies making it the perfect app for use when handling money in different currencies. The app is also free of charge even after downloading.
Wally allows you to track your spending by allowing you to take pictures of the receipts of the things you have bought. The app allows you to know where every dollar you own is going and how much you spend on different items.
6. Coinbase
This is an app for the future because it deals with cryptocurrency. The app is great for managing your digital currency by allowing you to trade and spend your digital currency.
It’s is useful in making alerts that will inform you when the selling or buying price you want has been met.
7. Tally
This is a great financial app for controlling your debts. It’s specifically designed to help you pay your credit card debts. The app also comes up with the most efficient way to pay your debts starting with the one with the highest interest rates.
Tally saves you money by ensuring that the interest payments are met every month. The app also improves your credit score allowing you to get more credit.
The best way to control your money is by knowing when to pay your debts.
The app is can be downloaded for free but has monthly charges depending on your creditworthiness.
8. Robinhood
This is one of the best personal finance apps. It’s built as an investment app allowing you to trade in stocks, options, and ETFs. The app allows you to make transactions for free and there are no costs for maintenance.
The app also provides you with a lot of information about the financial markets. You can use this information to make wise investment decisions. It allows you to take control of your money and even earn extra income with ease.
9. Joy
This is an app that measures your emotional states whenever you spend your money. Joy allows you to measure how well you spend your money. It also signals to you the level of satisfaction attained with each purchasing decision you have made.
It’s a great app that urges you to reflect on your spending habits. Thus, enabling you to make better decisions. The app also helps you to create a savings plan that will be easy to follow and based on your needs.
The app can be linked to your bank accounts making it easier to track your spending patterns.
10. Tycoon
This is a great app for tracking payments, calculating your income and measuring the value of your time in terms of money. It was designed for freelancers or self-employed individuals. The app allows you to create a suitable timeline for every task you engage in and how much it will cost.
Tycoon also allows you to determine the payments you have received and what clients have not paid you. If you are an entrepreneur who wants to take control of your money, then Tycoon is the best app for you.
Choosing a Personal Finance Apps
Taking control of your money is easy if you are using any of the personal finance apps outline above. Choose an app that is designed for you and one that will suit your financial goals and current position.
Time is money yet the education system does not teach students to manage and control their money. The above apps will build your financial literacy and help you become a better financial manager.
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