It can be difficult to budget and save more money, especially when you do not have a high income. With today’s technology, however, budgeting has never been easier as mobile financing tracking apps are now capable of organizing your budget and even creating a budget for you based upon income, bills and spending habits. This allows you to create a budget and stick with it, without as much of the legwork.
Not only do finance tracking apps assist you in tracking your spending habits, but they offer an array of benefits such as automatic saving options, financial recommendations and payment features. Most financing apps are free with optional premium fees for a more innovative experiences while others are accompanied by a small fee. Therefore, it is important to understand the benefits and cost of each financing app in order to determine which mobile apps you would like to utilize. To learn more about finance tracking apps – review the information that has been provided within the sections below.
The Benefits of Finance Tracking Apps
If you would like to save more money and find a better way to budget your month to month expenses, a finance tracking app could be just what you need. Finance tracking apps are available for both iOS and android devices and many of these invaluable apps are available to you at no charge.
Finance apps offer a variety of features, including categorized budgeting, spending tracker functionality, alert systems and even payment transfers. Apps with advanced interfaces can even create a budget for you and suggest savings based upon your income, spending habits and monthly expenses.
By utilizing finance tracking apps, you have the opportunity to gain better control over your finances, easily locate upcoming monthly expenses, avoid unexpected charges and save more money. While there are countless finance tracking apps available for mobile devices, there are a few apps that pull ahead of the rest due to their superior functionality, features and simplicity.
One of the more superior budgeting apps that will aid you in getting a handle on your financing is Mint. Mint is user friendly while providing a variety of financing benefits and features. Not only can you create your own budget using Mint, but you add your own categories for different types of expenses and program alerts that will notify you when you are nearing the end of your budget. Mint displays greater functionality as the app will update automatically, providing you with your budget in real time as it takes your transactions into consideration. Not only is Mint a fantastic financing app, but the service also comes with a free credit score.
If you do not need all of the fancier bells and whistles that Mint provides, consider PocketGuard. The PocketGuard app essentially provides you with a view of how much money is left in your “pocket” after monthly expenses and transactions. PocketGuard provides users with a simplicity that does not always come with other financing apps. You have the option of creating your daily, weekly and monthly budgets and PocketGuard will notify you of how much money is left for the day, week and month after expenses have been calculated. One of the attractive features of PocketGuard is the ability to track certain categories of your spending, such as groceries or eating out, in order to track where bills may be reduced and savings can be increased.
Savings and Payment Apps
If you are looking for a finance app that goes above and beyond budgeting, consider Acorns, Prism and Albert. While these three apps do not focus on creating a budget, they each offer their own enticing benefits that can help you save money and pay your monthly expenses.
Acorns helps users save more money as this financial app will automatically collect change with each transaction when using a credit or debit card that you have synced to the app. For example, if you make a purchase that comes out to be $3.50, the Acorns financial app will round the transaction to $4 and send that remaining 50 cents to an investment portfolio.
This allows you to save money without having to create budgets and cut as many corners. While savings can be slow, they do add up rather quickly. Unlike many other financing apps, Acorns is not free, unless you are a student. Students gain free management for up to four years, so long as they can provide a valid .edu email address when registering for an account. All other users will be expected to pay either $1each month for accounts that hold balances below $5,000 and 0.25 percent on balance of $5,000 or more each year.
There is a financing app that allows you to view all of your bills and account balances from one convenient location. With Prism, you can sync your accounts to the app in order to review your account balances, upcoming payment dates and upcoming payment amounts. Additionally, Prism can be used to pay bills directly from the app as well as schedule payments for future dates. Another great feature of Prism comes in the form of notifications. By using the Prism finance app, you will receive notifications about upcoming due dates and payment confirmations.
The Albert mobile app has an advanced interface that allows the app to truly take charge of your financing options and recommend ways that you can improve your financial health. While you will need to create your own budgets initially, Albert learns from your spending habits and will begin to automatically create budgets for you based upon those habits, your bills and your income. By doing so, Albert will also recommend and set aside portions of your available funds that can be moved into a savings account. While the standard version of Albert is free, users who choose to pay a monthly premium will gain access to additional innovative features, such as the ability to text human financing experts through the app in order to receive personalized advice on your financial health, tips on investing and saving goals.
By Melanie Henson –