Like fitness and health apps that enable you to stay fit, healthy, and on-track with your diet and exercise regimen, you can download money management apps that can help you take care of your finances seamlessly. With recession on the horizon and the pandemic having thrown our lives completely out of gear, it is necessary to watch what you spend. Apps make it super-easy for you to monitor your funds because you can access these any time on your smartphones. These applications let you understand your cash flow. But which is a good app to download? Here are some of the highly-rated money management apps in the market:
- Mint: Mint has been a highly recommended budgeting site that offers you ease access to investments besides focusing on budgeting tools. So, for those of you who want a detailed budget, there is no better choice than Mint. You get to make unlimited budget and transaction categories. The app will evaluate your expenses and offer you insight into your spending habits so that you can tweak these to save more. It also provides timely bill alerts.
- Empower: This app combines savings and budgeting tools. It will link with other accounts and track your finances to manage your cash flow better. Empower allows you to set monthly or weekly spending limits and get reports on your progress. The AutoSave feature is a blessing and the app will move additional funds when you install a weekly saving target. Empower focuses on your savings, helping you discontinue subscriptions that are no longer useful. You can avail of its Human Coaching feature to get personal guidance on savings and budget.
- Personal Capital: This allows you to track budgets and investments, and comes with an easy-to-use interface that looks the same regardless of the device you use. You can get graphs of investments according to accounts, assets, etc and the app lets you track your performance and manage your portfolio easily. the budgeting tools are quite impressive and you can get a holistic view of your finances.
- YNAB: This app is founded on the tenet “a job for every dollar” and you will be encouraged to think ahead and see where your money goes. Whether it is paying bills or saving for holidays, you can see where the money is going in advance. You can get sync and support features on this app for mobile devices. YNAB will even let you set financial targets.
- Mvelopes: This popular budgeting app lets you divide the funds into envelopes and spend from that envelope. It translates the digital expenses into cash budgets so that you can track where the money is going. This app can be used in exchange for a nominal fee, but if you are willing to pay more, you can access more features.
- Wally: This money management app is popular amongst millennials for its features and supports almost all foreign currencies. You can even save images of invoices to track significant items of business and taxes without needing these on paper. When you log into the app, it will inform you about how much you possess and how much is left for spending from the monthly budget.