Best Money Management Apps For iOS and Android

When it comes to personal finances, there are two types of tools you should know about: budgeting tools and money management tools. The budgeting tools include things like printable budget planners, budget worksheets and online budget calculators. Money management tools mostly come in the form of money management apps rather than worksheets, because money management encompasses more complex operations – it is about a lot more than just making sure that all your bills are paid each month. Most money management apps include features for investments/portfolio management, savings management as well as the management of monthly expenses and income. If you want to finally be able to take full control of your finances, to pay off bad debt and actually start investing and/or saving, then it’s time you learn more about these tools and start making use of them!

money management apps

If you are a total beginner with money management tools and you don’t really know much about personal finances, then you should probably start with a budgeting tool before you move on to a money management app. The great thing about budgeting tools is that many of them are designed for beginners, making it easy to start tracking and planning income and expenses. In addition, budgeting tools come in many varieties, so it’s easy to find the budgeting tool that’s right for you. If you are comfortable working with Windows Excel or similar programs then you should download a detailed budget worksheet. If you aren’t that comfortable with such programs then you could use a printable budget template. Another great thing about budgeting tools is that most of them are available online for free! So, if you really want to improve your financial situation, all you need is some time, a willingness to learn and an Internet connection.

Best Apps To Manage Money

After you’ve created and followed a monthly budget for at least six months in a row, you are ready to move on to money management apps and take the next step in the improvement of personal finances. Money management apps differ from one another in terms of the services they provide as well as in price. Since they are more advanced tools than the budgeting ones, money management tools are rarely available for free, with most apps generally falling in the $15-$50 range. This variety in price is due to the fact that apps can be very different from one another – some of them specialize in retirement savings or investment management, some allow you to connect one or multiple of your accounts to the app while others don’t, etc. Here is an overview of some different money management apps that have helped thousands of users whip their finances into shape.

Learnvest is an app that allows you to track day-to-day activities with its budgeting features, but also the app forces you to think about the bigger picture – savings and investments. For a monthly fee, you get a personalized financial plan based on your financial goals. In addition, you have the opportunity to chat with financial professionals and consult with them on big decisions involving money, such as buying a house.

Betterment is one of the most acclaimed money management apps that specialize in investments. It’s a user-friendly app that takes into consideration your tolerance to risk and your investment goals. Once you’ve set up your profile and connected the app to your accounts, you should set up automatic monthly withdrawals that you’ll use for investing through the Betterment app. As for investment options, you have the possibility to invest in six stock ETFs or in a predetermined basket of bonds. One of the best features of this app is that it constantly gives you advice on what to do to achieve your goals faster, as well as updates on how close you are to achieving them at the moment. A lot of users find this feature helpful, instructive and motivating.

Lastly, Acorns is one of the most popular money management apps because it is very simple to use and it works on a set-it-and-forget-it system that doesn’t require much involvement at all. All you need to do is link it to your accounts and it will do the rest. The way it works is that the app rounds up your purchases to the nearest dollar and then takes the change and invests it in six different funds. Of course, it also takes your risk tolerance into consideration. With its low fees, Acorns is one of the most cost-effective ways to have diversified investments.

These are only a few of the many money management apps available on the market right now. By doing a bit of research and reading reviews, you can find the apps that fit your financial goals best. Then, you’ll be one step closer to bigger savings and investments, lower debt, and well-balanced monthly budgets.

Money Management Tools – Best Way To Save Money

best ways to save moneyUsing Money Management Tools To Save Money

The vast field of personal finances entails everything from income, expenses, and savings to taxes, loans, mortgages, investments, and retirement funds. With this in mind, it shouldn’t be surprising that many people are finding it hard to manage their finances well and make the most of what they have without hiring professionals to do it for them. However, over the past few years, the management of personal finances has gotten a lot of attention, with the effects of a global recession emphasizing the need to make every dollar count. This led to the development of money management tools that are online and that are largely free for consumers to use. Because this is a new field, a lot of people aren’t aware yet of just how useful these tools can be. So here is a short introduction of the three types of money management tools you can use for free, and why you should consider using them.

The first step in managing your finances better is to get an idea of your current financial state. FlexScore is a financial tool take became available recently and it is a great place to start your money management journey. This tool can help you establish your starting point by giving you a score based on how well you are managing your finances right now. It takes about 20 minutes to enter your information and find out how well you’re doing. One of the reasons why this tool is so successful and well-rated by financial experts is that getting more points really means that you have made impactful changes in how you manage your personal finances that led to tangible results. Hence, this tool is also great to use in parallel with other money management tools – as you progress in learning about your finances, you can check in with FlexScore and see how much effect your new strategies are having.

Using a Budget Calculator as a Tool To Manage Money

When it comes to money management tools, a monthly budget calculator is by far the most powerful. This tool is widely available on the web in many different forms, so that everyone can find a budget calculator that really fits their needs. In general, every monthly budget calculator will have three main categories – income, expenses, and savings, which are then broken down into subcategories. Typically, the expenses category has the most subcategories to make it easy to cover all expenses and quickly fill in the blanks.

best way to save moneyOne of the reasons why monthly budget calculators are such a powerful tool is that they force you to think about investments, savings, an emergency fund and your retirement fund. These are issues that most people think about in vague terms and rarely take the time to really do something about them. When you make a monthly budget, this is much more likely to change. In addition, some budget calculators, such as BudgetSimple, do more than allow you to plan your spending, income, and savings – they offer practical suggestions on what you can do to save money.

The third type of money management tools you should know about are online investment tools. Some of these tools are free of charge, but most charge a monthly subscription rate if you want to unlock all of their features. For example, Future Advisor is a tool which helps you incorporate low-cost index funds and commission-free ETFs in your portfolio. You can get an asset allocation analysis and their investment picks for free, but if you want them to actually execute the trades for you and automatically rebalance your investments from time to time then you’ll need to get a subscription. Some other similar tools are Betterment, Wealthfront and Quovo.

All of these can help you make better investments – especially investments for retirement.

In order to get a proper handle on your personal finances it is essential to use a monthly budget calculator which allows you to decide in advance how you want to spend your money. The other money management tools can help you address not just the basics of personal finances, but all the important factors. Commit to using these money management tools on a regular basis and you will see quantifiable improvements in the state of your personal finances.