Are you living on more than you earn? Have you tried writing out a budget but can’t seem to stick to it? Do you have more debt than you know how to handle?
Most Americans can relate to at least one of those questions regarding their personal financials, and turning to mobile technology is likely the answer. There are a variety of mobile apps designed to make your finances easier to both understand and control. Here are a few downloads you should make in the name of stronger personal finance.
Your credit score affects more of your financial freedom than you might realize. You need good credit for taking out loans, qualifying for lower rent payments, and reduced insurance premiums, among other things. Credit.com lets you request your credit score two times per year absolutely free. By keeping an eye on your credit, you’ll have a good gauge of your financial state and recognize when you need to fix your credit.
Mint is a budgeting and personal finance tool that’s designed for making customized goals turn into a reality. Whether you want to save for a house or pay off your debt faster, you can input your goals and account information, and Mint will help you stay on track. It offers budgeting tools with helpful graphs and resources to help you understand the state of your finances as well as allocate spending appropriately.
- You Need a Budget (YNAB)
YNAB is a subscription budgeting app that teaches you how to stop living from paycheck to paycheck. It focuses on paying down debt and building up your emergency fund so that you can live life more freely.
YNAB also comes with a series of useful budgeting courses that teach you how to budget. You’ll budget everything down to the last dollar, and anything you don’t spend will roll over to the next month so that you can break the paycheck to paycheck cycle.
Anytime you make a purchase, Acorn will take the spare change (anything that’s over a flat dollar amount) and help you invest in low-cost ETFs. For example, if you spend $3.62 at a coffee shop, it will invest $0.62 for you. It does this with every purchase, and eventually, you’ll have a sizeable investment that will gain interest over time. It’s much easier than investing a lump sum of $500!
Wally is a devoted expense tracking app that shows you exactly where your money is going. It separates spending into multiple categories so that you know where you need to cut back. You can link your bank account or take photos of receipts to make the expense tracking aspect simple. You’ll streamline your budgeting and have a holistic picture of your financial state.