Nowadays there’s an app for just about everything and your finances are no different. While your specific financial goals will ultimately determine which budgeting app is going to work best for you, there are a few common features that are beneficial to anyone. Managing money, sticking to a budget, and tracking expenses are easier than ever before. This is especially true now, given the plethora of personal finance apps available out there. But not every mobile money management tool is worth downloading, you can take some guesswork out of digitizing your finances with this list of the top personal finance apps. Each of the five listed is designated the best for a particular purpose, although several fulfill more than one aim.
Best Budgeting Apps:
• Mint: Best Money Management App, which is used to create a budget and track spending.
• You Need A Budget (YNAB): Best Debt App, this app helps you budget each dollar you have. This app is unlike any other budgeting app you’ve used before. YNAB helps you stop living paycheck to paycheck, pay down debt, and “roll with the punches” if something unexpected comes up. It’s built around a fairly simple principle: Every dollar has a job on your personal budget, use it for investing, for debt repayment, or to cover living expenses. You can try this app for 34 days free.
• Wally: Best Tracking Expenses App, this app tracks expenses by letting you take a photo of your receipts. The idea behind Wally is that we need the right tool to manage our personal finances. Some people use Excel, some use a paper and pen, and some use personal accounting software—but most of us just don’t know what to do. Our financial lives are complicated—cash, cards, savings, debt—and we’re not all born gifted accountants.
• Acorns: Best App For Easy Saving, rounds up each purchase amount to the next highest dollar and invests the difference.
• Tycoon: Best App For Freelancers. The Internal Revenue Service (IRS) categorizes freelancers as self-employed.
If you’re just looking to track your spending and pay bills you might want to start with Mint, the most popular budgeting app on the market. Mint features custom budgets, bill tracking and gives you access to check your credit score, for free! Keep in mind that, like almost everything else, budgeting apps are not a one size fits all. If you don’t find an app that fits you the first try, there are plenty of others that may. Texas People Federal Credit Union also offers a wide array of financial tools to fit your needs, whether you’re trying to save for retirement, calculate a new loan payment, we can help.