It’s that time of year again! As the air starts to crisp up and we pull on our winter coats, wish for snow and dream of warm cappuccinos, we begin to ponder our Christmas list. The last thing you need to put a damper on the merry proceedings is money worry! Given that most of us don’t have an unlimited supply of the stuff, just get your phone to do the worrying for you. Hello! It’s 2017! Let these money management apps do the work for you!
Money management apps make it easy to track and control your spending with the simple rule of thumb: If you know where your money is going, your more likely to spend it on the things that count. Here are the 7 best apps to keep you merry this Christmas:
1. If you need a personal finance assistant
Mint is one of the most popular budgeting apps. Created by Intuit, this all-in-one app syncs your bank accounts and credit cards, keeping track of your monthly bills and categorizing your spending into groups like food, uber rides or going out.
The clever algorithms boss you around when you’re spending too much based on a budget that you’ve set yourself. Charts and graphs make it easy to visualize your spending and you can see a snapshot of your net worth whenever you choose. The stand out feature of this app is the fact you can check your credit score for free! Get it here!
2. If you just want to invest without the hassle
Moneybox takes a different approach. This app invests your spare change for you. Say what? Yes, it invests your spare change. This one is for those not well versed in the tricks of investing. By syncing with your debit card, this app takes the stress out of investing by rounding up everyday small purchases to an amount set by you, popping the spare change into stocks.
This is a mobile piggy bank with the potential to grow your change into fat wads of cash! Of course, it is a risk, but you can set the risk level yourself, choosing between ‘cautious’, ‘balanced’ or ‘adventurous’. What a great way to ease into the stock exchange! Get it here!
3. If you want to make use of a master card
Monzo is one of my favorites because of the bonus of the prepaid master card which is free to use abroad! By topping up your card, it’s very easy to control how much you spend. You can transfer a certain amount, say, every month and keep within your limit. The app will automatically keep track of everything, breaking down your spending into categories. The app even accumulates stats on how much you spend in specific shops! Get it here!
4. If you want to track your most expensive hangouts
Similar to Monzo, Wally tracks what comes in, what goes out, what you have saved. What makes it stand out is the added smartphone location service which gives you an idea of your most expensive hang-outs. A bonus feature is the ability to photograph your receipts to update your spending and notifications to remind you of upcoming payments. Get it here!
5. If you need to manage multiple bank accounts
Similar to other banking apps with its abilities to categorize and track spending, Money Dashboard has the advantage of linking multiple bank accounts so you can manage them from one hub on your phone. This is perfect for those of us with more complicated finances. Get it here!
6. If you want to pay everyone back fairly!
Tricount stands out. It’s not a banking app but it’s just as useful for controlling your finances. This one is for those of us commonly making group payments. Whether it’s flat-mates, family or friends, it’s easy to feel you’re losing out, or at least, losing track! Holidays, shared living expenses and even nights can get very messy when you can’t remember who owes who, and how much.
Tricount does the math by using algorithms to track how much everyone has paid, then gives you the simplest way of paying everyone back in the least number of transactions. Share Tricount with your friends so that everyone in the group can add their own expenses and see their balances, then include the reimbursements to settle your debts. This wins top points for settling all those arguments too! Get it here!
Do you swear by any money management apps? Which ones do you use to get your finances in order?
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