With the new year finally being here, it’s time to take control of your finances. It can be difficult, especially if you have a lot of money going out. The good news is that there are some apps that professionals like Clay Advisors recommend helping you keep track of things and cut out unnecessary spending. If that’s something you’re interested in, then continue reading to learn more about nine apps that will help you stay on top of your finances this year.
Spendee is a great app for those that live with more than one person or share bills with multiple people. You and the other people paying the bills will be able to sign up on one app. Not only will the app import bank transactions, but it will also categorize these transactions to help you figure out where all your money is going. If needed, you can also add expenses that you pay for in cash to give you a complete picture. The bill tracker will remind everyone when bills are due and how much each person needs to pay.
2. Clarity Money
Another great finance app is called Clarity Money. With so many people having multiple subscriptions these days, it can be challenging to keep track of them all. It is where this app comes in. Not only can you keep track of the subscriptions you use regularly, but it can help you find ones that you’re paying for and not using. In addition to that, the app will also look at your spending habits and give you tips to improve your financial standing. Finally, you can create different savings accounts to help you achieve different goals. Keep in mind, the money in the savings accounts are kept at an insured and secure bank.
If you need something that helps you track your spending, then Wally is a great option. Instead of having to add every transaction manually, you can take pictures of your receipts. Also, if you use the geolocation on your phone, the app will be able to fill in all of that information for you. Once all this information is imported, you’ll be able to get a good look at where your money is going and where you can save some money.
PocketGuard is a great app for those that want something simple to help them figure out how much money they have left. It will calculate the numbers and let you know how much you’ll have after things like bills and essential spending. People will also be able to get a closer view and look at things by category, like groceries or gas.
We all have bills to pay, and depending on where you are, you might have more than other people. With this being the case, it can be hard to keep track of everything, and when the payments are due. The app Prism helps you with your bills. You’ll be able to see all of your bills and financial accounts in one app. It will track your bills and automatically send you reminders to ensure you don’t miss a payment. If you want to, you could even schedule payments inside the app using your financial accounts to have a recurring payment every month.
6. Personal Capital
The Personal Capital app lets you do two things, which are: track everyday spending and manage your assets and investments. It has more than 14,000 financial institutions that you can link to your account. ıt is especially helpful if you use more than one. While you can track your daily spending, the app is excellent for tracking investments. One of the great things you can do is track your investments by category, like account, asset class, or individual security. Add that to the fact that you can compare your information with market benchmarks, and you’ll be able to tell if you’re on track or not.
Goodbudget is an app that can help you do better with the envelope system. You won’t have to sync your account, but you can add it manually if you want to. You’ll also add in the account balances you have and change it as needed. Once you do that, you can assign specific amounts to different categories or envelopes. These envelopes can be anything you want, including groceries or personal hygiene. Keep in mind; the free version only lets you have one account, two devices, and a limited number of envelopes. The paid version will let you have unlimited envelopes and accounts, as well as up to 5 accounts.
You could also give YNAB a try. YNAB is short for You Need A Budget, and it helps you do exactly as it says. This app is entirely built around four rules, which are: give every dollar a job, embrace your real expenses, roll with the punches, and age your money. In addition to helping you build a budget that works for you, it also enables you to take control of what you’re spending. You can import transactions from your checking account and break them up into different categories. If you happen to overspend in any of the categories accidentally, you’ll get an alert, and you’ll be able to adjust the budget in that category.
Mint is one of the most popular and well-known apps out there. It can give you a complete picture of your financial profile. After you link your credit and debit cards to your account, the app will compile all of your transactions. From there, it’ll put everything into categories and then shows you where your money is going. Also, you’ll be able to track your credit score for free and create your budget. A few other things this app does are: let you schedule utility payments, send reminders for manual pay bills, and track investments.
Since so many people are on their phones every day anyways, using these apps that professionals like Clay Advisors recommend shouldn’t take too much extra time out of your day. They usually only take a few minutes and could help you save quite a bit of money. They should give you a pretty comprehensive look at your finances.