According to Google, financial goals are routinely a top-five resolution when the new year rolls around, and for good reason. While budgeting, bargain hunting, and other financially smart activities are important first-steps, there are also more tech-savvy ways to help get your finances under control.
To achieve your goals, it pays to have the right money management apps at your disposal. Here are five apps to consider as you craft your financial goals this year.
There are a ton of excellent money management apps out there, and Mint (iOS, Android, and PC) is one of the most well-known for a reason. This long-established expense tracking tool is exactly the foundation you need for a financially smart new year.
Mint tracks your credit card and bank accounts, with categorization features that make getting an overview of your spending activity a breeze. If you want to know how much you spent on fuel in February or check your entertainment expenditures for the past month, all you need to do is log in. Plus, once it’s properly set up, it can display your monthly bills in an easy-to-track interface. If you haven’t gotten an account yet, it’s time.
2. You Need a Budget (YNAB)
YNAB makes common budgeting tasks like debt paydown and goal tracking as simple as setting parameters. Its “Give Every Dollar A Job” ethos further ensures every dollar in your possession is spent or saved responsibly. Throw in the ability to link your spending accounts for automated tracking and you have a budget tool you can’t afford to miss.
Investing can be an intimidating process for newcomers. Acorns (iOS, Android, and PC) aims to fix this. Its small-time approach involves rounding up purchases and putting leftover change into a user-selected list of investments. The result is an app that generates extra pocket change while simultaneously teaching the fundamentals of investing. Users wishing to expand their financial reach and pick up a new skill would be well-advised to check it out.
4. Personal Capital
Yes, there is some overlap with Mint and YNAB, but there’s plenty to like about Personal Capital versus other money management apps. It takes investment accounts into its holistic overview of your financial health, making it great for users wanting a broad view of their money. As mentioned above, it can also help you improve your net worth without forcing you into the constraints of a budget.
Prism’s primary feature enables bill pay directly from the app, thus eliminating the need to log into a hundred different accounts to pay for power, heat, and cable. It also allows you to schedule one-time payments, making it great for monthly planning. If it sounds simple, it’s actually one of the most useful money management apps out there—perfect for your revised approach to new year finances.