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It happens to the best of us. We set a budget, try to save, and then the end of the month comes, and we’re back in the red.
Budgeting and money management are practices many people struggle to master.
Fortunately, in today’s mobile world, there are plenty of options to help you get on track and make managing your money more enjoyable.
Enter mobile financial applications. These apps are available to you 24/7 to monitor your activity and how much money you have to spend.
Their job is to give you a nudge into healthier financial habits. If you’re feeling nervous, don’t worry. All of the apps described below are a way to dip your feet into budgeting.
They also have account security as a top priority. So buckle up.
5 Money Management Apps to Take Charge of Your Finances
These five money management apps can help you start “doing money” better.
If you want a snapshot of how much money you have at any given time across your accounts and credit cards, then Mint is for you.
This personal finance app is an all-in-one source for building a budget, supervising spending, and gathering knowledge about your money.
Mint brings together all of your bank and credit card accounts, along with your monthly bills. Plus, you can view your credit score in the app.
Notifications show you when payments are due, how much you owe on a bill and the amount you can afford based on your available funds.
You can set payment reminders for yourself or create spending warnings when you’re approaching your budget limit.
Over time, the app can learn from your spending habits and give you personalized advice to gain control over your spending.
To dabble in investment monitoring, Mint also has a section for tracking your portfolio.
You can view market benchmarks in comparison to your current portfolio and identify unnecessary fees from investment providers.
It’s never too early to start getting smart about retirement investments. The more you learn now, the better off you’ll be in the long run.
PocketGuard is for you if you’re looking for a simple budgeting app to help you keep things in order.
Instead of worrying about overspending on a night out, you can simply check this app to see if you’re on track to hit your goals.
PocketGuard shows you how much money is left in your “pocket” on a specific day, week, or month of your choosing.
This money management app is for you if you want to stay on top of your finances, but don’t want to take time out of your day.
The PocketGuard app crunches numbers and sets aside money for bills, sinking funds, savings goals, and spending. This feature can really help if you’re overspending and don’t have the funds to cover your purchases.
You can also track certain areas of spending within the app like groceries, clothing, or dining out.
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If you’re someone who needs an extra set of eyes on your financial habits, Albert is there for you.
From budgeting and saving to debt reduction, this money management app is your new financial shoulder angel.
The Albert app monitors all of your accounts and gives you recommendations for improving financial health in an easy-to-understand format.
For example, your free Netflix trial expires. Albert will let you know you’re about to pay an extra $15 you didn’t plan for in your budget. That’s $15 back in your pocket for adding to your savings or paying other bills.
Once you plug in your information, the app automatically builds a budget around your spending habits, income, and bills.
It also pulls out a safe amount of money to set aside for savings.
Similar to Mint and PocketGuard, Albert wants to help users understand their finances more, and reach the goals they’ve set.
For a monthly fee, you can use the Albert Genius feature. This allows you to communicate with human experts for personalized advice on anything from paying off debt to investing or saving for a goal.
To dive into investing, Acorns is a micro-investing financial app that can get you going with just your spare change.
They'll even help you create a portfolio. By letting them know a bit about your financial situation and goals, Acorns will recommend a diversified mix of ETFs (Exchange-Traded Funds) to establish as your portfolio.
Acorns makes it easy-peasy – no investing minimums and no trade fees – for only $3 per month ($5 for family) until you have $1 million invested.
Recently, Acorns announced ‘Acorns Early‘ – the easiest way to begin investing for your kids!
Start now with automatic reoccurring investments ($5 or more) and easily transfer the account to your child when they're an adult.
Acorns is backed by world-class investors, board members, and advisors, including two Nobel Prize-winning economists. Give Acorns a try today!
- Full review: Acorns Review 2023: A great app to begin investing
Do you struggle to make on-time payments? Prism can help you organize and pay bills all in one place.
By plugging in all of your account balances and bill information into one application, you can easily plan out when payments are due.
When you sign into this money management app, you can choose all of your billers (they have 11,000 on their database) and sync them to this one account.
By plugging in your payment account information, you’ll be all set to pay bills from one spot. While this doesn’t automate your finances, it can certainly help you stay on track with bill payments.
On Prism, you can pay your bills directly on the app or schedule them for a later date. You’ll also get notifications for impending bill due dates and confirmation of payment.
If you're someone who needs a nudge to get a payment in on time, having a reminder on your phone can help prevent a past due notice.
Okay, Tiller Money isn't a mobile app, but if spreadsheets are your thing, check them out!
They have automated tracking and budgeting spreadsheets – for Excel and Google Sheets – that update daily with your banking data to help you easily manage all your finances.
Here's a full review of Tiller.
A Final Word On Money Management Apps
Money management apps can help you take control of your finances because tracking your spending and viewing account balances are always at your fingertips.
The more steps you take toward learning to manage your finances, the less you’ll have to dread an expected payment or overspending on something you can’t afford.
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Article written by:
Amanda Peterson, a guest contributor. Based in New York City, Amanda is a software engineer and regular contributor at Enlighted Digital. When she’s not working, you can find her shopping in record stores or Netflix binging with her Puggle, Hendrix.