Top 5 Money Management Apps
Advanced technology has made it easy through apps to easily manage money, stick to a budget, and handle investment decisions. There are hundreds of personal finance apps available. However, not all these money management tools work optimally. That's why, in today’s article, we will talk about the top 5 money management apps. Read on!
Mint is an excellent money management app, which can update and categorize transactions automatically. It gives your real-time analysis tools to manage your money. You can add your own categories and track bills.
The app also allows you to set budgets and split transactions. Mint will send you alerts when you exceed your maximum spending limit. It is an excellent service that provides free monitoring of credit scores.
YNAB is one of the best money management tools and allows you to make a plan for your money. The app will require you to submit your financial statement, which is $11.99 a month or $84 per year. The interesting thing is that the app offers a 34-day free trial, which means you can test the app and if it according to your requirements, you can buy it.
The premium version of the app provides many features, such as connecting bank accounts, setting financial goals, and contributing to savings. Another interesting feature of the YNAB app is to customize spending along with access to resources, user guides, free workshops, and budgeting advice.
PocketGuard is another money management tool that allows you to know the amount of money you are spending. It will analyze your budget and show how much you should spend on essential things. It also analyzes money after accounting for bills, savings, and spending.
You can view the amount of money left in your account for the day, week, or month. You can also track a few categories of spending, which include clothing, eating out, groceries, etc. It has an easy to use interface.
Clarity Money is an awesome money management app, which allows you to link financial accounts from hundreds of institutions and organize expenses. The app also tracks spending and bucket your spending into various categories.
You will find other important features like credit score monitoring, subscription canceling, and budgeting. The app provides you a clear picture of your budget plan, which includes monitoring and analysis of weekly and monthly budgets.
Last but not least, Goodbudget is another best money management app based on the envelop system that allows you to portion out your income every month to different spending categories.
Compared to other apps, you don’t need to synchronize your bank account to the app. You can add account balances, debts, and cash amounts manually. Once you have entered the accounts and income, you can assign your balance to spending categories.
The app has both a free version and a paid version. You can use the free version on one account only. It comes with limited envelopes. On the other hand, the paid version of the app is $6 per month or $50 per year, as well as offers unlimited accounts and categories. You can use it on up to five devices.
|Thomas Moore is a proud American with a Bachelors Degree in Business Administration from the University of San Diego. He has been in the financial industry for many years holding numerous licenses in multiple states. He currently helps operate cashkingco.com and is our resident expert on all things finance and a great writer. Thomas is also an avid outdoor enthusiast that loves fly fishing streams in the Western United States. LinkedIn Profile|