New financial apps seem to pop up every day. How can you tell which are worth adopting?
After working in the financial startup world for the past five years, I’ve been able to test hundreds of apps to see which ones actually work. These personal finance apps aim to help you save money, pay off debt, and manage your money better.
The best finance apps to help you save more money
Digit’s motto is to help you “save money without thinking about it.” The app accomplishes this by monitoring your spending habits and withdrawing a few dollars every week from your checking account. This text-based tool allows you to see your balance, deposit funds, or withdraw money at any time.
Most of the time, you never even miss the money taken out of your checking account because Digit’s algorithm makes sure you can afford it. If your balance is too low, it won’t withdraw any money. The service is totally free and there are no fees, making this a contender for best personal finance app.
How would you like to take all of your spare change and use it to pay down your debt? With Qoins, you can do just that.
This startup is helping consumers pay off debt faster by rounding up everyday transactions and using the spare change to make an extra payment towards the debt of your choice.
The rounded-up amounts really add up, with most customers seeing an extra $40 or more being paid on their debts every month. Every little bit helps you save money on interest and get ahead. The only fee you’ll pay is $1.99 that’s withdrawn from your balance each month.
Much like Qoins, Acorns rounds up your monthly transactions. But instead of paying down debt, Acorns uses the spare change to invest on your behalf.
You choose your desired level of risk before experimenting with various portfolio options. This concept, called “micro-investing,” allows you to learn about investing without risking a lot of money.
In addition to linking your debit or credit card to track your transactions, you can also set up recurring investment amounts on a weekly or monthly basis. The basic portfolio starts at just $1 per month. Accounts with $5,000 or more cost 0.25% per year, which is deducted from your Acorns account.
The best finance apps let you start small. Stash is an investment app that helps you grow your cash, starting with as little as $5.
Unlike Acorns, which invests your money for you, Stash offers recommendations so you can create a customized investment portfolio for yourself. If you’re looking for a more flexible investment app, Stash offers a wider array of choices than Acorns.
You can get started with the first three months for free. After that, you are charged $1 a month for the service.
We’ve all been told that buying in bulk is one of the best ways to save money on groceries and household goods — but not everyone wants to pay a yearly membership fee to big box stores.
With Boxed, you can purchase bulk items at huge savings.
Boxed is a fairly new service that allows you to surf the app for all kinds of snacks, drinks, cleaning products, paper goods, beauty products, and other household supplies, and have them delivered right to your door in as little as two days. You get access to many of the same bulk grocery prices available at Sam’s Club or Costco without having to pay a yearly membership fee.
Your mom had the right idea: Comparing shopping circulars and buying sale items can save big bucks on your grocery bill. The problem? This antiquated tactic takes a lot of time.
Flipp is updating this strategy with their digital flyer shopping app. It collects your local shopping circulars and flyers, then pushes them out via the mobile app.
You can then create your shopping list, circle items you want to purchase, add money-saving coupons, and get the biggest savings from one central location. No more juggling multiple newspapers and trying to find the best deals.
Ever hit the “buy” button and realized you forgot to use a coupon? Have you purchased a full-price item, only to see it go on sale days later?
With Paribus, you no longer need to regret the money you could have saved. Every time this finance app finds a discrepancy on something you’ve purchased, they put in a claim on your behalf for the difference owed.
Paribus gives you back the money you should have saved from the start and takes a 25 percent commission for themselves. It’s a win-win for everyone!
Decluttr turns your unwanted books, CDs, DVDs, video games, and electronics into cold, hard cash.
Simply download the easy-to-use app and start scanning the barcodes of items you no longer need. Once you’ve completed your list, you’ll be given a packet that includes a free shipping label.
Ship your items to the nearest Decluttr warehouse, and within a week you’ll receive a direct deposit into your bank account for the items you sold. It’s a great feeling to clean out and declutter your home, but it’s even better when you can turn those unwanted items into cash.
It’s important to evolve with ever-changing technology, and the best finance apps can help you find a good financial footing. Nearly all of these mobile services are completely free, so give them a try. Otherwise, you could miss out on important savings!
Want to get started investing?Here are the top investing options for 2018!
|0.5%||$0||Visit Future Advisor|
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|0.49% – 0.89%||$25,000||Visit Personal Capital|