10 Apps for Money Management and Savings
Here are the ten applications to help you save for rainy days:
1. Mint
Mint is one of the most well-known budget-saving applications due to the absence of fees. It is convenient to add informational pieces on cards and bills through this #1 most downloaded personal finance application in Play Store.
Mint’s specialization lies in tracking and planning for personal budgets. However, the features do not only help you create, track, and customize your goals. There are in-app money-saving offers that you can view. You can even track your credit scores and personal insights on how you typically spend your money.
2. Acorns
Acorns become the mobile application when someone thinks about a combination of penny-pinching techniques and investments in minuscule-sized sums. The primary concept for Acorns is investing for every round-up you spend on something.
For instance, you may shop for a summer dress for $45.13. The application will round it up to $46. Then, the remaining $0.87 (= $46 - $45.13) goes to the investment accounts. In some cases, you may be eligible for extra investment bonuses from more than 12,000 partner brands through Safari and Chrome Extensions.
3. Digit
Budget is the middle name of this Forbes-listed application[1]. Digit automates the users’ savings more conveniently than when they do it manually. Furthermore, the algorithm can determine how much and which areas you can save based on your spending history.
Another feature that you can find in Digit is the no-overdraft guarantee. This guarantee lets you get reimbursements for up to two bank overdraft fees when there are overdrafts in your account.
4. Qapital
Many freelancers or independent contractors use Qapital for automating their savings. The freelancer rule in Qapital lets freelancers saves for quarterly or annual tax payments by automatically setting aside some portions of their income.
Qapital is yet another Acorns alternative with a decent round-up rule. It does not only round up purchases and save the differences in a separate account. Instead, it also has a 52-week incentive. This rule means saving an additional $1 each week from $1 for the first week.
5. Truebill
Truebill is similar to Mint due to its budget-saving specialization. Having the same abilities as Mint means Truebill users can track their spendings and saving goals through one application.
However, the bill negotiation feature is the feature that makes Truebill stand out from other money-saving applications. This feature works through Truebill’s algorithm that detects your uploaded recurring bills.
Then, it will offer you some options to negotiate bills that the algorithm thinks of too expensive. Such abilities allow the users to save around $720 for their overall yearly bills.
6. Spendee
Spendee is the money-saving mobile application you should go for if you seek budget-saving apps for shared uses. Sadly, not many know about this beneficial app.
Importing your bank transaction data and letting Spendee’s algorithm tally your expense histories are not the only things you can do with this mobile application. The shared wallets in Spendee let you manage shared expenses, which makes it a suitable choice for friends and families to track each other’s spendings.
According to a financial coach in Spendee, the app can analyze a couple or a group’s spending trends. Furthermore, this application also belongs to the applications that can accept any currencies, including cryptocurrencies.
7. Marcus by Goldman Sachs (formerly Clarity Money)
Some people think Clarity Money is a decent alternative to paid penny-pinching apps like YNAB (You Need A Budget) or Ramsey Plus. The ability to link multiple bank accounts and manage spending in one touch amplifies Clarity Money’s practicality and economic values.
Clarity Money becomes Marcus per March 5, 2021[2]. The features do not stop in providing one-stop spending trackers. This application tracks and analyzes your subscription portions the way your financial coach does. Then, it suggests you remove subscriptions that are either too expensive or do not have added values.
8. Monefy
Monefy became the first money management application to pop up on Google Playstore’s first page for some reason. The reasons not only lie in the convenience and practicality Monefy offers through the one-tap spending input features.
Monefy is unlike other similar apps since they support many non-USD and EUR currencies. You can separate cash and credit card payments through this penny-pinching app. Furthermore, the Dropbox linkage is beneficial to backup your saving and spending data for later uses.
9. Goodbudget (formerly EEBA - Easy Envelope Budget Aid)
The unique Envelope concept remains even if EEBA has changed its name to Goodbudget for nearly a decade from now. The Envelope method is like other money-saving applications’ spending percentage algorithm that tracks your spending habits.
However, the difference lies in the auto-reminders it offers. As a user, you can only spend money that you allocate in the app’s envelope. The envelope will turn red to remind you are overspending your budget.
Moreover, you can use Goodbudget to link with your other devices. It can manage money for up to two people, even in the free version. So, it is a compatible money management application for an individual or a couple.
10. Tip Yourself
Tip Yourself is a suitable companion for travelers to save their expenses. The Tip Jar is the in-app feature to allocate some sums of money. So, this Tip Jar feature acts as the virtual piggy bank.
Nonetheless, tracking how many percentages you have spent your pennies is not the only thing you can do with Tip Yourself’s Tip Jar. Instead, this feature lets you reward yourself for every penny you save.
The more you save, the more likely you can use your Tip Jar allocations to buy yourself some rewards. The supportive community is yet another Tip Yourself feature that lets you meet many like-minded people who will go through what you experience regarding money management.
References:
[1] https://www.forbes.com/advisor/banking/digit-budgeting-app-review/
[2] https://dyernews.com/clarity-money-app-review/