In today’s society, your cell phone can help you out with essentially anything—from communicating with loved ones and staying updated with current events to editing work documents and playing games. It can also help you save money.
If you find budgeting and saving money to be arduous tasks, there are several apps available to track your finances and find ways to cut spending. With little effort required from users, they can determine how to save a few dollars here and there in ways you won’t notice until the savings add up over time.
The following are the five best apps for saving money:
- Mint – From the creators of TurboTax and Quicken, this app creates a personalized budget for you based on your existing financial data. Furthermore, Mint notifies you of unusual charges and informs you how to reduce the money you spend on your bills every month. It also shows your credit score, so you are aware of the overall condition of your finances.
- Chime – Functioning as an actual bank, this app enables users to open a checking account or a savings account—and even offers a Visa debit card. Chime’s most popular feature is “Save When I Spend,” which rounds a transaction up to the nearest dollar amount and transfers that money to the savings account. “Save When I Get Paid” is another prominent feature, saving users 10 percent of each paycheck that is deposited into your checking account. Users do not have to worry about overdrafts or monthly fees either.
- Clarity Money – This app uses artificial intelligence to evaluate your spending habits and create a financial goal for you with a specific target date. Whether it’s canceling wasteful subscriptions to creating a savings account, Clarity Money helps you control your finances in many ways. Additionally, it notifies you if you are spending more than your allotted budget in various areas of your finances.
- You Need a Budget – This app enables you to create an easy-to-use budget interface, helping you prioritize specific expenses, save more money on your retirement accounts and emergencies, handle unanticipated costs, and perhaps live on last month’s income. The goal is to change the way you manage money and to create finances that are stress-free.
- Credit Karma – If you’re attempting to build up your credit, this free app can help. Credit Karma provides users with a credit score from Equifax and TransUnion, offering you a firm sense of where you stand. You can also access and monitor your full credit report through this app.
These apps can help change your mindset about your finances and provide valuable, ongoing lessons about fiscal wellness to help you avoid debt and save more money.