With a Smartphone, you can go on a shopping spree with just a few finger taps; therefore, it is tempting to “treat yourself” regularly even when you probably should save your hard-earned money. Fortunately, this technology can also help you make the most of your money! Read on for our list of Smartphone apps that will help you budget, invest, and manage your money to fit your lifestyle.
Best overall personal finance app — Mint
What it does: Mint serves as a one-stop location for all your budgeting goals, your costs, and your spending trends over time.
Mint can help you manage your spending in a big way. The app is designed to do everything from scheduling your bill payments to helping you stick to a set budget. With Mint, you can easily check your credit score, track your total net worth, and even make sure you’re not overpaying for high-budget items like insurance. If you’ve ever needed help staying on top of any aspect of your financial life, Mint just might be the answer.
Best automated savings app — Qapital
What it does: As your digital piggy bank, Qapital will help you save small amounts now that will add up later.
Qapital makes saving effortless. With this app, you can create a plan for how much you want Qapital to devote to your day to day costs. By setting aside even a few cents on every purchase you make, Qapital can store up a fund for you to tap into when you’re paying a certain bill or treating yourself to a favorite meal. If you’ve ever struggled with saving money, Qapital is a great first step to budgeting expertise.
Best app for building & protecting your credit rating — Credit Karma
What it does: By keeping you connected to your credit score, Credit Karma can help you improve, and benefit from, your score.
Credit Karma knows the ins and outs of maintaining a good credit score and will help you manage your score by breaking down all the factors that can help or hurt your credit. Specifically, this app will give you a simple, easy-to-read report highlighting any missed payments or negative comments on your credit history, while also keeping you aware of what percentage of your credit you’re using.
What’s more, Credit Karma can help you stay on top of any suspicious card usage by alerting you to strange card activity. The app can also send messages to your credit company for you, and will even suggest alternate forms of credit if you’re paying too much. It’s an app that’s on your side!
Best app for paying down debt — Debt Payoff Planner
What it does: Helps you manage debt by creating a customizable payment plan.
Cost: Free (Upgrade available, with customer support and no ads, for $1 to $5/mo.)
If you’ve ever worried about paying off debt, Debt Payoff Planner can be a great tool. After inputting your debt status and your budget, the app can help you decide which of several payment methods will work best for you. Whether you start off with the snowball payment method or jump straight to the avalanche method, Debt Payoff Planner will help guide you.
Once you’ve picked a plan, the app will help you map logistics by telling you what debts you should prioritize and how much you’ll need to pay per month. You can also request customized weekly progress reports to keep you motivated and on track!
Best money transfer app — Venmo
What it does: Allows you to seamlessly transfer funds at no cost.
Venmo is the perfect tool for splitting the check at dinner or repaying the cost of the movie ticket that you owe your friend. With this app, you can effortlessly send or receive money between friends. It’s also an increasingly common way to pay for online transactions.
When you have other friends on the app, Venmo makes connecting easy. Once you’ve found a friend through the app itself, making payments takes only a few seconds.
Best free stock trading app — Robinhood
What it does: Robinhood is a fun, low-risk way to learn the basics of the stock market.
If you’re curious about the stock market but aren’t sure where to start, why not try Robinhood? This app lets you easily purchase stocks and funds with no hidden fees or commissions. What’s more, there’s no minimum investment, which gives you total freedom over your investing.
That said, Robinhood isn’t designed for anyone interested in creating retirement accounts or doing any serious trading. It’s a good idea to understand the app’s limitations before you go into Robinhood hoping to make money. If you are only planning to invest small amounts or to learn how the market works, though, Robinhood is a great introduction.
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