Are you looking to get ahead of your debt? Or just get better about budgeting? No matter your money goals, these money management apps can help you get ahead. But each has its pros and cons, and your goals could determine which you choose.
Here are five you should consider.
Mint
Mint is from Intuit, the creators of QuickBooks and TurboTax. Whether you want to create a budget or better track your spending, Mint can help you tackle your money management needs. It works by letting you know when your bills are due and when you’re getting close to your budget limits. The app is free, shows your real-time credit score, and automatically categorizes your transactions for up-to-date budget information.
You Need a Budget (YNAB)
You Need a Budget, or YNAB, is an excellent app that can help you get ahead of debt. If you’re living paycheck to paycheck, you may want to check this one out. It works by helping to assign each and every one of your dollars. Do you have a habit of living outside your paycheck? This could be a difference-maker for you.
Although the first month (34 days) is free, it does cost $11.99 per month or $84 for the annual plans. If you’re a student, however, you could qualify for a free year.
EveryDollar
EveryDollar is very similar to YNAB in that it allows you to craft a monthly budget and work on lowering your debt. There is a free version of the app, but if you want to connect to your bank account, you have to pay for EveryDollar Plus, which costs $129.99 a year.
Acorns
Does your budget goal involve saving or investing? Or both? Acorns may work well for you then. When you buy something with a card, the app rounds up to the nearest dollar, investing that money into ETFs, or exchange-traded funds.
There are a few different options for Acorns, including Invest ($1 a month), Invest+Later ($2 a month and helps with taxes and retirement savings), and Invest+Later+Spend ($3 a month and influences a Visa debit card and up to 10% in bonus investments).
Wally
Whether you’re a freelancer, business owner, or just want to get ahead of your personal expenses, you can benefit from the Wally app for your money management needs. It works by allowing you to take photos of your receipts, saving you time and effort when it comes to tracking your spending. Like Mint, this one is also free.
It’s a strong choice for an app if you hate manually entering numbers for personal expense tracking.
A Note on Money Management Apps
The money management app you opt for absolutely depends on your specific budget needs. If you’re not quite sure where to start, Mint may be the best choice for you. But if you have a goal in mind, you might want to consider the others as well.