Apps can help you achieve your financial goals without having to work on them alone.
The Money Skim shares with you 10 of our favorite money management and budgeting apps so you can sort through the clutter. This list has something for everyone, whether you want to stick to your long-term goals or save money on groceries.
What Are Budget Apps?
It’s important to establish a budget if you are looking for ways to manage your finances. Thanks to the internet, you can take advantage of free budgeting apps to make it easier to manage your money. The apps make it easy to track your everyday spending, so you can see where you can make small changes that can add up quickly.
With one click you can cancel all your paid subscriptions
Saving money on your bills is easy with Truebill. Simply scan your online statement and Truebill will automatically identify your subscriptions. A monthly report alerts you if your subscription fees have changed. If there’s a service you no longer need, it can be canceled with a click. Truebill will let you know if you forgot to cancel a free trial or you’re still paying for an old subscription that you don’t use anymore, so you can change your plan or cancel it.
The Acorns app allows people to save money without even thinking about it. Every time you swipe a linked credit card, the app automatically keeps the change. If you buy a grande latte for $ 4.72, Acorn will round it up to $ 5. The change will then be invested on your behalf. You can build a nest egg without even thinking twice if you use this method.
- Best for: New investors
- Cost: $1, $2, or $3 per month
- Availability: iOS, Android
In 2014, Chime launched as a digital-only brand, winning over millions of followers. Chime offers several auto-saving options for its bank accounts.
Your spare change can be automatically deposited into a savings account. You can also set up a rule that makes Chime move a percentage of your paycheck into your savings when you send your direct deposit to Chime. Round-up is another option to boost savings.
As with other challenger banks, Chime does not hold your bank deposits – it is not a bank. Your deposits are handled by Bancorp Bank, Chime’s partner. Savings accounts also earn interest.
Best for: those who want their bank app to save their spare change.
Cost: Free banking app.
You can earn money when you shop with Ibotta. Take a look at the products offered in the gallery and select the ones you’re interested in. Ibotta adds pending cash to your account for each “task” you complete (like sharing a Facebook status, taking a poll, or watching a video) that can be accessed once you purchase the product from one of the 50 retailers who partner with the company.
Upon verification, you’ll receive cash in your PayPal account or you’ll receive gift cards.
Deals (up to 90% off!) including restaurants, retail stores, and hotels are available on Groupon. Deals can be found by location. There are always great deals on Groupon, and they even have holiday-specific deals available. Additionally, you can explore new places, step outside of your comfort zone.
Budgeting and ongoing cash management are the main features of this “all-in-one” app. You can monitor all of your financial accounts with the app-investments, credit cards, mortgages, home loans, and a more-in-one dashboard. The app provides you with a snapshot of your current financial situation and lets you take action with it right on your phone, such as investing and saving for retirement.
Personal Capital has also been a registered investment adviser since 2006 and manages about $7 billion in investor assets. You can open an account for free.
Swagbucks is a cash-back and rewards app. By shopping, participating in polls, watching videos, participating in games, or performing other tasks through Swagbucks, you earn SB points. If you have points, you can exchange them for gift cards or get cashback to your PayPal account. Tasks can award varying amounts of points. A survey can be worth between 40 and 200 SB points. Some gift cards can be redeemed for as low as 110 SB, depending on the payout option you choose.
With Aspiration Bank you can earn a $150 sign-up bonus when you create a new bank account.
Numerous reasons make this bank account one of our favorites. Over 55,000 free ATMs are available throughout their network, and people get paid up to two days early (who doesn’t like that!). There are no account fees either.
In addition, you can earn up to 10% cashback on purchases and 5% APY on savings. The best part is that it is completely free.
Bills can add up, especially if you have to pay them every month. From electricity to entertainment services, your pockets can be drained within the span of a month. Trim is a negotiation app that lowers your monthly bills and helps you to cancel ones that you aren’t using anymore. It provides you with savings money, excellent for those that live on their own.
A critical thing to note about Trim is that they will charge you a fee if they are able to save you money. When they take a small amount of cash, it is better than paying full price for your bills. In contrast, if you’re saving a lot of money, the cut will still be far cheaper than paying the full amount on the bills that you have each month. If this sounds like something you’d be interested in, you can check out Trim’s website.
Get money back when you shop online. You’ll find great cashback rates on everything such as airport parking, hotel bookings, and car rentals, as well as your favorite fashion, electronics, and home brands.
Join for free with over 20 million members saving hundreds of dollars each year from all the top 4,400 online retailers. Members earn on average $345 cashback a year. Get your money directly to your bank account, PayPal, or Gift Cards.
TopCashback is completely free to use.
Are money-saving apps safe?
Several security measures are taken by fintech companies to protect your data. The level of security varies from company to company. Make sure you’re comfortable with how the company handles your financial information by reviewing the terms and conditions.
Why you should use a money-saving app
Apps like these can help you adjust your behavior if you have a tendency to spend before you save. You can also use them if you are just beginning to build your savings. This allows you to save small amounts of money on a regular basis, as opposed to requesting a large sum as some traditional savings accounts do.
Investing your savings in a high-yield savings account may be a wise move after you’ve built up some savings. Even though yields have been declining in the present environment, certain banks still have higher rates if you park your savings with them. Although online banks typically offer a higher return on savings, you won’t get rich. Alternatively, you can place your savings in a certificate of deposit if you aren’t going to need them for a certain period of time.
Find the Best Budget App for You
After learning about the best budget apps on the market, you’re probably saying, “Okay.” “Which one should I choose?” The answer is that it depends. What is your budgeting comfort level? Are you sharing your finances with another person, or are you handling your finances on your own? Are you comfortable budgeting on the go or using a computer at home? You might want to think about your options before choosing an app.