10 Top Apps to Make Banking Simple
Everyone wants to save money and learn how to better manage their spending. With the overwhelming variety of banking apps on the market, it may be tricky to determine which one best suits your needs. We have sifted through the lengthy list and provided our top ten recommendations to help you monitor your financial progress:
- Mint This popular app sets you up for financial success, syncing up all your bank accounts, mutual funds and even your 401(k) or IRA. You can track cash flow in real time and set up alerts for when bills are due or if you exceed a set budget. Mint also analyzes spending, helping to pinpoint places where you can save.
- Expensify: For those who travel for business and are required to hold onto a paper receipt to later get reimbursed, Expensify may be the app for you. This app allows people to take a photo of a receipt, import the transaction, and then categorize it, all right from your phone or tablet.
- Budgt: This lightweight app has a clean visual design offering daily and monthly budget snapshots designed for students and those with a limited budget. It is targeted for those with simple needs, using bold fonts and pie charts to make it easy to input and track all your expenses.
- You Need A Budget: Using cloud-syncing technologies, YNAB allows you to stay in tune with your finances from anywhere that has an internet connection with their suite of apps for desktop computers and mobile devices. According to their website, the average YNAB user pays off $500 in debt in their first 30 days. This app implements a total budgeting philosophy that designates every dollar in your wallet a role for which it will either be spent or saved for a rainy day.
- GoodBudget: This app incorporates the ancient method of putting money aside into an envelope to divvy up your monthly expenses. There is also an “irregular option” that allows you to contribute any extra cash to a separate envelope for special occasions, vacations, holidays or just “fun money.”
- Spendee– This brightly-colored favorite compiles every transaction you make into an organized graph and tracking feed, also offering user tips and encouragement. All expenses are quickly logged into categories, with the option to take photos of bills and receipts for easy storage.
- Level Money This free app has the ability to break down a budget on a monthly, weekly or even daily basis, providing an exact amount of how much “leftover” you have to spend. Users can also track certain types of spending to monitor what specifically their money is being spent on: groceries, clothing, transportation, etc.
- BillGuard Understanding spending habits and protecting cards from unauthorized transactions are the two primary functions of this app. Every user completes simple swiping actions to make sure they are aware of every transaction. This app automatically alerts you when any suspicious activity or charges are made to your account.
- Mvelopes: Starting with a few inquiries about your financial goals, this app triggers users to think about a long term budget. Although they have a similar envelopes system to GoodBudget, Mvelopes asks you to define your personal income and create a specific budget before allotting money to the envelopes. That way, you’re spending based on a budget rather than your net worth, or how much is currently in your account.
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