10 Best Financial Apps for Your Daily Needs

10 Best Financial Apps for Your Daily Needs

The best financial apps for your daily needs help you to stay on track with your goals. Each of these doesn’t take up much space on your device, is easy to use and can be integrated with other life management tools.

Consider Your Priorities

Financial apps help you to manage different areas and the ones you start using first will depend on your fiscal background, urgent current needs and hopes for your future. There are apps here to help you trade, develop a budget, reduce debt and manage your wealth.

If you’re married or have a roommate, software discussed here can help you to monitor shared expenses and pay bills on time. Sometimes a job change helps you to move forward with your financial plans and while it’s not strictly included on this list of financial apps, the CareerBuilder app can help you to improve your income.

1. Digit

Digit is designed to cultivate the habit of saving. It’s one of the best savings apps for 2020 and is the best personal finance app you can find for people who are working towards a savings goal, such as a deposit on their own home.

2. Quapital

Like Digit, Quapital is built for micro savings. Unlike Digit, you don’t save automatically. Instead, you create conditions for transfers. There are no fees for Quapital but you’ll pay $2.99 a month with Digit.

3. You Need a Budget (YNAB)

You Need A Budget (YNAB) is a good tool for people who are working on reducing debt. If you’re looking for a personal expense tracker app, this is a good one to consider. It helps you stick to the plan you develop and track your progress during each month.

Use it to identify areas where you can cut back more or are spending more than you need to. The drawback is that this app is only free for 34 days. It’s $6.99 a month after that, which is reasonable but if you’re trying to pay down debt, that money could go towards your balance.

4. PocketGuard

PocketGuard does many of the things that YNAB does but it’s free. It’s a great app for several other reasons, including its bill reminders. Multi-factor authentication is used to help prevent identity theft or misuse of your data.

PocketGuard makes planning easier for first-time budgeters by generating a suggested option based on your income. It can be connected to your credit cards and investment accounts.

5. Stash

Stash is one of the best spending tracker apps for 2020. It’s also good for people who want to become better at saving and then make more on their money by investing. This makes it a better option than YNAB for people who don’t just want to get out of debt.

If you want to manage your personal portfolio on a daily basis, Stash is a good tool to consider. Plans start at $1 a month, giving you access to your Tax Brokerage Account, personal portfolio and more. To include your IRA and UTMA options, you’ll pay $9 a month.

6. Personal Capital

Personal Capital is a wealth management app but it also helps you to get data on your regular savings accounts. You can even make a budget and know how much cash you’re spending.

The app supplies you with timely information, so that you’ll benefit from opportunities to diversify your portfolio. Registered financial advisors are available to help you develop customized wealth plans.

7 and 8. Robinhood and Freetrade

Robinhood and Freetrade both make it easy to trade stocks online. These are apps that meet the needs of traders with information and platforms that make each trade easy to execute. If you need good budgeting apps, consider YNAB or Mint.

Free trade stocks are in the same category as those on Robinhood, so they are both good money manager apps, allowing diversity in trading. The major difference is in commissions. 

If you’re looking for a free stock trading app, stick with Robinhood. They don’t charge any commissions, so you keep more of your profits and can execute trades that have a narrow margin.

9. CollegeBacker and UNest

Whether you’re saving towards college tuition for yourself or your children, CollegeBacker and UNest provide support. Each app allows you to open a 529 plan in minutes. If you already have one, you can connect to it.

Use the CollegeBacker app to automatically transfer sums as small as $5 from your savings account to your college fund. Use their Backer Bucks program to earn cashback or make it simple for relatives to make contributions to college expenses.

CollegeBacker offers the features available with UNest but it’s more affordable. There are no fees for using it but UNest charges $3 per month. You can get started right away with CollegeBacker, even if you don’t have a lot of money.

10. Mint

If you’re working on several financial goals simultaneously, the Mint app can help. It allows you to get a snapshot of your financial situation without moving from one app to another. It is not as good for investors as Personal Capital, since it focuses more on helping you track and manage spending than on investing for retirement or another goal.

Mint is free and can be linked to your debit and credit card accounts, allowing you to track your spending. You can also use it to:

  1. Track your bills
  2. Check your credit score
  3. Maintain a budget
  4. Schedule bill payments

Mint can remind you of manual bill payments by using email alerts and it integrates with your phone’s calendar to add due dates. If you only have room for one more app in your life, get this one. You can even access your account on your computer.

Conclusion

Staying on track with your economic goals will improve your life and the best financial apps for your daily needs facilitate that process. Implement changes at a pace that’s right for you and your family, with tools that provide resources for saving and investing. Download at least one of these apps today and start using it to achieve your dreams!