Statista has revealed that total revenue which would be generated by mobile apps in 2020 is $189billion. The personal finance app category is widely used among digital shoppers way more than others. Little did we know ten years back, how useful our phones would be as regards saving money and improving our budgeting. So, we have gathered the best money saving apps to consider.
Whether as a consumer or a small business owner doing more in savings is always a good decision. It would help you to be capable enough to put in funds for other crucial things that would generate more value for you.
You can put in the extra money you save from an aspect of your efforts into your retirement account or in an emergency fund which would give you a befitting future, with increased business success and opportunities, and financial freedom.
The one mountain you would need to climb is the challenging nature of taking such decisions that will get you saving money for the future. And the best money saving apps revealed in this article will help you surmount this mountain and make better financial decisions about your personal and professional finances.
Here Are The Best Money Savings Apps To Consider Right Now
Mint is one the leading money savings apps that offers you a free credit score to monitor how your attitudes are providing you an opportunity to be at an advantage for better loans if you consider buying a home property or own a new vehicle.
The money saving app also gives you an edge regarding your bills. It helps you avoid being behind and eventually costing yourself even more money on penalties and late fees. You will also be able to develop a budget to ensure that you maximize your earnings and spare for emergency, savings, and your retirement, while not also hurting yourself or neglecting your other obligations.
Chime is a mobile banking app for iOS and Android users. The app has a debit card and a spending account which is insured by FDIC, which means you will be able to see transactions instantly, make safe cash deposits, and track your spending anywhere you are.
You will also be able automatically make savings into your savings account. This helps you save without necessarily influencing the decision. You will be able to make regular savings of ten percent on all the paychecks deposited in the Chime app. You will also have the opportunity to round-up on all the purchases you make and transfer the difference into your savings account whenever you make use of the debit card provided by the money saving app.
Chime is very effective for saving money fast and away from your reach, so that you do not succumb into any form of temptation to spend it on nonessentials. Charges like foreign transaction fees, overdraft, ATM use, and monthly minimum fees do not occur using Chime.
3. You Need a Budget
You Need a Budget helps users prioritize saving for retirement, emergencies, take charge of unexpected expenses, and avoid going beyond your spending capacity. It allows you to create a budget interface that is easy-to-use and educates you more on the value of money.
The app works nicely on Android, iOS, Amazon’s Alexa, Apple Watch, and several other mobile devices. A version of the app can also be used on Mac computer and Windows.
4. Clarity Money
Clarity Money is a free app that keeps close watch on your spending by clarifying your wasteful spending from your essential expenses. The app saves you money by canceling out subscriptions that aren’t being used, and also considers ways to beat down your bills for more considerable rates.
It also tracks your spendings so as to keep you within your budget. You will receive recommendations of credit cards that would be suitable for your credit needs and total lifestyle. This allows you to stay informed by using credits in a smart way. And since you’ll also need a place to put in everything you save, Clarity Money provides you the medium to create a savings account.
Acorns partners with Blue Apron and Airbnb. This lets you get a portion of your purchases back in your savings account within the app. It totals your purchases on every credit and debit card linked to the app, and a transfer of the difference is made into your Acorns account.
The money you save on the platform are thereafter invested into exchange-traded funds. You will have the investment portion based on whatever is comfortable for you, into aggressive funds or conservative funds.
College students have the privilege to leverage on the app for free for a period of four years. And for others who have an account that is below $5000, there are monthly payments required. For those above, a percentage charge based on the amount held is required.
Honey works as browser extension on your devices. It constantly works to help you discover great deals that offer less on your online purchases. You’d see your savings while you go about surfing the internet. And this would include applying your savings automatically so that you do not have to do it always.
Honey works with several websites and brands which you probably already use regularly, so that you do not omit saving money on your next shopping.
Viggle gives users the opportunity to make money during their leisure. The money saving app allows you to earn points from check in to show you enjoy watching. You can also receive points from playing games online and testing your TV IQ. The points you earn can be used in areas like Barnes & Noble, and Starbucks. This means you get a magazine or coffee for saving on the app. In essence, you save and still get entertained.
Digit helps you achieve your saving goals without you needing to go through any stress. The app is efficient in doing all the necessary thinking and making the best decisions for you. This includes looking into your earnings and spendings, and then doing an accurate calculation on your savings capacity. That amount is thereafter put in an FDIC-insured Digit account.
Digit does this analysis between about two to three times every week.
This offers you the opportunity to be able to make a percentage of your savings as a bonus which is disbursed to you every three months. Whatever you receive is usually based on your Digit average balance everyday within that period of three months. After your first 100-day free use of the app, a specific monthly fee is charged.
FeeX helps you avoid losing funds especially in your investments accounts by suggesting some less alternatives or recommends to you changes that would help cut down on your expenditures. As several people do not observe their brokerage fees which is accompanied by an investment portfolio and broker in managing it.
FeeX is hence available for free use, to link to your investment accounts such as 401k and monitor whatever you are paying as costs and fees connected to your personal investments, such as mutual funds.
The app makes referrals and makes charges when you take on suggested changes and you switch to a different company.
HoneyFi helps couples to easily organize and track their finances. This helps to cut down on mistrust and conflict among couples, especially on their finances. For instance, you will be able to do household budgeting, label, react to transactions made, share and communicate on all accounts and financial statements.
It is free for couples. And helps in making sense of the flow of money among couples, so as to increase bonds.