Most people think that if they check their bank app on their phone now and again, they will be good to go on their budget.
If you’re trying to save money or learn how to be a little more efficient with your money management, you may need a little extra organization. We’ve done some digging to find the best apps out there to help you accomplish your financial goals.
Mint (for budgeting)
The word “budget” is thrown around so loosely all the time nowadays. How do you know how much money you should save versus spend? Mint is the perfect app to help you get started and carry you through to execute your budget. The app connects with as many accounts as you’d like including checking, savings, mortgage, student loans, and credit cards. Once your accounts are linked, Mint will analyze your spending habits and offer suggestions on where you could trim the fat. Another great feature is that each digital purchase is assigned a category based on where you shop. You can even change the categories if the app doesn’t assign them correctly. For those who need accountability for maintaining a budget, this is the app for you.
Prism (for the bills)
If you’re one to need assistance on when upcoming bills are due, you’ll come to love Prism. This app is a step above an online calendar by allowing you to see what bills are due, which are coming up, and how much money you may have in the linked bank accounts. All communication is encrypted with bank-level security so that sensitive info is not stored on your device directly. One of the perks of this app is that if a bill seems unusual, Prism will alert you to check it out or investigate. Whether it’s a utility bill, mortgage, credit card bill, or a student loan, you can find it all in one place using Prism.
Acorns (low-risk and low-capital investments)
If you want some of your digital “spare change” to go toward an investment you don’t have to think too much about, Acorns is perfect. The app will suggest an array of portfolios based on your savings goals and risk tolerance, or you can choose one yourself. The app uses a system called “roundups” where it monitors your bank account and automatically invests the change from your day-to-day purchases. One example: if you stop at a drive-thru and pay $8.75 for your meal, Acorns will round up to $9 and invest the extra 25 cents. The minimum investment to begin is $5, which is the perfect way to make the best use of small change.