Research shows that a whopping 30% of Americans are constantly stressed over money. Up to 85% of individuals report feeling ‘somewhat’ stressed about their financial health.
Technology can help! You’re already on your smartphone 24/7, so why not take advantage of the best savings apps on the market.
Let’s get to it!
Mint can help you track your income and expenses, develop a reasonable budget, and even stay on top of your bills to avoid late payments.
Mint aggregates data from your credit cards, bank accounts, and loans. It automatically categorizes your expenses into set categories (though you can customize it). Mint is one of the easiest ways to track how and where your money goes.
Maybe you want to learn how to invest, but you never feel like you have enough spare cash. Acorns can eliminate this problem.
Acorns rounds up your purchases to the nearest dollar on your linked debit and credit cards. It auto-deposits this money into an account- which you can use to invest in a variety of index funds.
Love to online shop? You’re not alone. Honey can help you shave off some extra dollars without any extra work.
Honey is a free browser extension, and the app is currently available as a pre-order (expected to launch in February 2019). Advertised a personal shopping assistant, it shows instant coupon codes and savings at your favorite stores.
Before clicking ‘purchase,’ you simply activate the honey app or browser extension. From there, it will show you any redeemable codes, and it can enter them into the site for you automatically.
4. Clarity Money
Struggle with excessive spending? It’s common.
Clarity Money works to help you take control of your finances. It shows your financial health and can support you in canceling all those unwanted subscriptions you may be paying. Say goodbye to that unused gym membership you set on auto-pay months ago!
Best of all? You can cancel subscriptions through the app directly. Within a week, the Clarity Money team cancels your subscription free of charge.
Clarity Money also tracks expenses and bills. You can categorize your expenses and transfer money from different accounts. It also organizes your data into visual graphs.
LearnVest provides an educational experience for understanding your finances. It’s a mobile app that helps you monitor your money- and comprehend it better.
LearnVest aggregates your past transactions and account balances. It helps formulate a picture of your net worth and assess how and where you typically spend money.
You can upgrade the free app to a paid service. For just $19 a month, you’ll have access to a financial planner.
Digit is a casual, budgeting app that helps you assess your spending habits and seamlessly transfer money from your bank account into your digit account.
Every few days, Digit makes a transfer to build a ‘cushion’ for whatever you want to spend money on. The app makes this transfer based on your spending habits.
All customers earn a 1% annualized savings bonus every three months. They also provide a text-messaging service to engage in routine banking transactions with your smartphone.
7. You Need A Budget
You Need a Budget (YNAB) is exactly what the name presents. The app enables you to create a user-friendly budget that helps you improve your understanding and ownership over your money.
The designers of this app want you to learn how to bust through the notorious paycheck-to-paycheck dread. They also want to show you how simple it is to save more money.
Did you know that you risk losing nearly 30% of your retirement savings due to costly fees? FeeX wants to change that.
FeeX helps you identify and reduce fees for your IRA, 401(k), or other brokerage accounts. They can also help you roll over old 401ks in a hassle-free way. The app shows you how much you can save over the long-term.
We’ve all heard the cliched statistics. The majority of couples cite money problems as one of their main points of disagreement.
With HoneyFi, you can collaborate with your significant other to create your household budget. The app allows you to distinguish transactions as mine, yours, or ours. From there, you can also share money insights with one another.
10. Personal Capital
Personal Capital allows you to link all your bank and credit card accounts to determine your net worth and monthly and annual spending. It can also help you track your investments to determine fees and understand changes in the market.
Personal capital also offers advisory services. These advisors can help you with customized portfolio management and financial planning.
Want Something Different from an App?
Don’t want to share your personal data with third-party sites? It’s reasonable. You can always create your own spreadsheet to track your data.
Likewise, if you’re just starting out on your financial journey, there’s nothing wrong with old-fashioned pen and paper. Just be sure to make sure that you record expenses as they arise- or it’s easy to forget?
Or, if you’re into blending innovative technology with creativity, you can always become an app creator and develop what you think the world is missing out on!
Final Thoughts on the Best Savings Apps
Remember that the best savings apps are the ones you are committed to using! Your financial well-being is your responsibility, so take control of it- and use technology to help navigate the process!
Interested in learning more tips on saving money? Check out the top saving strategies today.