If you are alone in handling your
own money, then it may be overwhelming to do so; yet there are various ways on
where and with what you can use to make savings, spending, and other aspects of
money easier to deal with. In the next five years, managers will ensure that
the personal finance apps they develop are easier to use and effective to use.
Whatever your age or experience, read our newbie guide and learn about 7 best
personal finance applications to download this year.
1.
Mint
Best for: Comprehensive budgeting
and financial tracking
Mint has been one of the best
personal finance apps for years, and in 2024 it remains the same. This free app
enables you to consolidate your bank accounts, credit cards, loans and
investment accounts. Mint helps you save money, record your expenses and even
notify you when you are close to violating your budget. It also shows you your
financial practices which can inform better decisions.
Key Features:
Automatic expense tracking
Customizable budgets
Credit score monitoring
2.
YNAB (You Need A Budget)
Best for: Budgeting enthusiasts
YNAB stands for You Need A Budget,
and it is a budgeting app which puts a different way of tackling financial
management. Another important thing about YNAB is that it’s not about past
spending, but about giving every dollar a purpose and assigning it to a certain
project or goal. It teaches you how to budget your financial needs and wants
and how to manage your finances in advance when it comes to bills. YNAB is
perfect for the users who aim to increase personal finance control and are
willing to follow the plan strictly.
Key Features:
Zero-based budgeting system
Goal-setting features
Real-time expense tracking
3.
Personal Capital
Best for: Investment tracking and
wealth management
Since it does a lot more than just
help users to save money, and help track investments as well, Personal Capital
is ideal for those who want to not only budget but also manage. It has expense
tracking features compliments of the IFTTT integration and contains powerful
investment applications. You can connect your accounts if you want to see your
worth, monitor your investment, and even get an idea on how to manage your
retirement fund. Personal Capital is exactly what is needed for all those
people who want to advance from simple tracking of their financial situation to
constant monitoring of how their money is being spent.
Key Features:
Investment tracking and analysis
Retirement planning tools
Detailed net worth calculations
4.
PocketGuard
Best for: Simplified budgeting
PocketGuard is not complex; in fact,
it is one very easy to use money management app. You can achieve your financial
goals keeping track of your income, bills and expenses and determine how much
money you have to spend. The “In My Pocket” feature is perhaps its greatest
asset: it bestows upon the user a figure representing the amount of money they
should ideally be able to spend after all their fixed obligations have been
met. It’s ideal for the people who do not want to be bothered by words like
‘management’ when managing their finances.
Key Features:
“In My Pocket” feature for easy spending tracking
Automatic bill tracking
Savings goal features
5.
Honeydue
Best for: Couples managing joint
finances
While Honeydue does make managing
money as a couple a little easier, it can still often times be complicated.
This app is best suited for couple who need to manage their finances together.
This is where you can link accounts, allocate money, and pay the bills, all the
time discussing your spending with each other. It makes budgeting easy and
convenient for both partners because Honeydue also included joint and separate
spending.
Key Features:
Joint financial management
Bill reminders and alerts
Customizable categories for individual and shared
expenses
6.
Goodbudget
Best for: Envelope-style budgeting
If you like the traditional envelope
system of budgeting but are gearing towards using an app, then Goodbudget is
the app right for you. Goodbudget is an example where you assign funds to categories
which have their own virtual envelope such as food, shelter, and fun. It also
breaks down the envelopes for you, meaning that as you spend, the app reduces
the balance of the amount to facilitate the budgeting. In today’s world, it’s
perfect for those who prefer a physical way of budgeting that can easily be
transferred online.
Key Features:
Digital envelope system
Expense tracking for multiple users
Debt payoff tracking
7.
Acorns
Best for: Beginners in saving and
investing
Acorns is
a micro investing app that enables you save pocket change and invest them to
make more money. It is connected with your bank accounts and rounds up your
purchase to the nearest dollar, investing the rounded up amount in ETF
portfolios. Acorns is a simple application that lets you begin investing
without a significant amount of money. Retirement accounts and cash-back are
other features also provided through partners, through the app.
Key Features:
Automatic investing with spare change
Tax-advantaged retirement accounts (IRA)
Educational resources for new investors
Conclusion
Practical tips for handling our own
budget do not need to be lavish, let alone with these top applications in our
disposal. If you are looking to gain better control of your finances, save
money for the next big purchase, or even start investing these personal finance
apps can help make your journey in 2024 easier. Select the one that suits you
best and get on track toward your money’s worth today!
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