People often find that they don’t
have enough money for everything. In this situation, they need to know how
their money should be spent properly. Certain apps can help you to organize
your apps. In the current technologically-driven landscape, it is a good idea
to use smartphone apps for any situation, including for managing your financial
situation. Here are apps that you may consider installing on your mobile.
- Wally:
Wally is a free app that can help you to organize your budget. After
performing a purchase, you need to enter relevant information into the
app. You need to do this manually and take a photo of the receipt. Wally
is a great app for people who are completely new to the financial world.
It’s good for people with simpler financial responsibilities, if they
don’t have car loan and mortgage. However, you need to have the habit to
manually input details of each purchase.
- Mint: It is
another free app to manage your finances. All accounts can be linked to
Mint, including bank accounts, credit cards, investments and loans. This
app automatically track purchases and monitor any trend in spending. It
comes with a great analysis for cash flow. Mint provides an overview on
your spending and breakdown of your personalized budgets. The initial
effort to set up Mint can be time consuming, but it should worth it.
- Acorns: Acorns cost
only $1 per month for accounts that are worth under $5,000 per month. For
accounts that are worth more than $5,000, the cost is 0.25 percent of the
balance each year. This app could become one of your best financial
investments, because you will find ways to earn some money. Acorns will
ask users multiple questions to determine their characteristics. As
investors, users can be classified as short term, long term, low risk or
high risk. Acorns are excellent introduction for investment and the
process of choosing investment funds can be automated. The app will
provide suggestions based on the user goals. Based on current investment
characteristics, the app offers a projected value. For some people, Acorns
can be somewhat controlling, but the app can help users to choose the
right investment option.
Stash: Stash is an investment app that costs the same with Acorns. It is a great option for people who start from $1,000. Stash offers thirty investment portfolios, consisted of various stocks and ETFs blends. Users will have the ability to choose where they need to invest the money. Unfortunately, Stash doesn’t provide any projection on the amount of money that users may earn over time.
