The first couple months of the new year can be the hardest financially. You may have gotten a little too willy-nilly with your bank account over the holidays, and that’s normal. Between gifts, parties, vacation, and other festivities, you have perfectly good reasons to spend the bulk of your discretionary funds in the winter months.
While the new year can offer a clean slate in some regards, it doesn’t wipe the past few weeks of haphazard spending. Now, more than ever, you need to get your finances in order. Some people make new year’s resolutions to do this. However, all you really need is some determination and discipline…and financial apps.
You may be wondering how an application for your smartphone could possibly help order the disarray that is your financial life. Just like appliances make everyday life simpler, mobile phone apps make managing your finances easier. In fact, you could even do it from the comfort of your bed. What’s not to love?
Scroll to the infographic below for brief overviews of 21 apps to help you reach your financial goals. They are broken up into categories based on their key functionality, e.g. budgeting, tracking expenses, saving money, etc. Be sure to read the pro tip for each app!
Keeping your finances on track requires documentation (most likely digital) and organization. There’s more to it than watching your expenses closely or squirreling money away each month. Because your finances are likely composed of various accounts, cards, and investments, managing your savings and payments can quickly become a tangled jumble of numbers.
Take advantage of the mostly free apps available to you in order to detangle and prevent financial messes.
Overall Financial Management
These apps incorporate multiple aspects of your finances in order to provide an overarching, comprehensive look at your economic status. Apps such as Mint, Clarity Money, and Albert can help you set goals, monitor spending, and create plans with just a few clicks.
Account for every dollar and track cash inflows and outflows with apps like You Need a Budget, PocketGuard, and Pennies. Moreover, some apps like PocketGuard automatically do the work after you set it up.
Whether you make personal or business expenses, it’s important to record them. Expense tracking apps like Dollarbird, Wally, and Expensify are excellent for closely following your expenditures. With regard to business charges, using Expensify is a way to ensure your reimbursement is correct.
Sometimes we just don’t have the tenacity to consistently put money away. That’s why applications like Acorns, Paribus, and Wikibuy exist to help you automatically save money and find the lowest prices.
With the constant rise in the cost of living and increase in tuition for higher education, many people struggle with crippling debt. Prism, Debt Free, and Unbury.Me manages your debt for you by tracking loans, due dates, and payments.
Not everyone frequently shares expenses, but when you do it can be difficult to facilitate. Keep track of borrowed money and split bills with Splitwise, Settle Up, and Zently. These are especially helpful for roommates who rent.
Some people make a living as a financial advisor specifically because stocks and investment decisions can be confusingly overwhelming. Save some money and download Robinhood, Stash, and Personal Capital instead.
As you can see, there are a lot of option when it comes to financial apps. Pick one that sticks out to you and try it for a while. You’ll probably find that it makes a world of difference in managing your finances. Now you’ll have no problem paying off debt and saving up for your dream house. Learn more with the visual below.