Our world is digitally booming! We live in a world where you can make a purchase with your fingerprint and your phone can recognize your face. These digital breakthroughs have made technology and shopping online more personal to you and your needs. Why should your finances be any different?
We’re breaking down some financial apps that allow you to manage your money personally. They help you set up a budget and choose personalized and automatic investment plans. Here’s what you need to know about these money apps.
Mint by Intuit:
Mint is all your financial information wrapped up into one little app. Mint allows you to see where every dollar you account for ends up and connects directly to your bank account.
The best part about connecting to your bank account is that your Mint account automatically updates for you! With these updates, you don’t have to check in on your account every time you get paid or make a purchase.
Mint shows you a breakdown of your finances so that you know how much money needs to be allocated to:
or other expenses in your life.
It lists the cash that you have to your name, the debt that you have, and how much money you’re currently investing. It goes further to help you by suggesting what investment options are best for you. Mint’s breakdown makes it simple to use and helpful to stay on track.
Oh, and did we mention that it’s free?
Acorns is another money app in the financial space, focused on micro-investing and allowing you to make automatic investments on a daily, weekly, or monthly basis.
Until you have $1 million invested, acorns will cost $1, $2, or $3 a month. You get certain investment options, suggestions and opportunities depending on the Acorns plan that you decide on.
With the $1 per month plan, Acorns Core, you’re able to invest small bits of money over time. The $2 per month Acorns Later program allows you to invest in your retirement through an IRA account and have access to everything you’d get through the Acorns Core plan. The $3 per month plan is the Acorns Spend that comes with an Acorns debit card and checking account, as well as the benefits of Acorns Core and Acorns later.
Acorns provides you with easy-to-access resources that help you invest, spend, earn and grow your money. They’ve even partnered with brands that will invest in your Acorns account when you invest in that brand. Then, you can easily check how much money you’ve earned through investing in those brands on your app.
Interested in investing some more? You might want to check out Robinhood, an app that is geared toward providing you with options for:
investing in stocks,
working with Exchange Traded Funds [ETF],
and diving into the world of cryptocurrency.
Through Robinhood, you’re able to browse news or choose sectors to invest in that you’re genuinely interested in. You can also check in on your specific portfolio so that you can adjust your investments as you see fit.
Robinhood offers a premium account, providing users with access to four main premium features. As an owner of a premium account, you get access to professional research, Nasdaq market data, investing on margin, and larger instant deposits.
For $5 per month, Robinhood is taking investing to a whole new level!
We’ve got another app for you that won’t cost a dime! Personal Capital is a free app aimed at helping you get your finances in order. This app allows you to budget with some freedom, allowing you to save money and put it away for your retirement, as well as build investments.
Personal Capital lets you link all of your financial accounts to the app. After connecting your accounts, you can focus on setting up a budget through the app. This will help you track how much money you’re spending each month and what you’re spending it on.
Once your budget is set up for you to follow, you can focus on retirement planning through the app and financial steps to achieve other personal goals. A unique feature of Personal Capital is the Fee Analyzer feature that helps to uncover hidden fees, and in turn, saves you more money.
In a world with a customizable experience for everything, it's time you take advantage of the financial apps out there ready to give you an understanding of your money while creating a budget plan that works for you as well as personalized and automatic investment plans.
Ande began her 20+ year career as an adviser and quickly realized that many people weren’t taking into account was how emotions play a huge factor in financial decision making. Leaving behind her practice to focus solely on educating both advisers and consumers alike, she became an expert in behavioral finance. Author, speaker, thought leader, and money educator, Ande is helping women to take control of their money.