In the world of consumerism and capitalism, one would get confused as to whether they are putting their money on the right thing, and it is worth it. While there is a bountiful option out there regarding products and services, it is highly imperative that you spend your money wisely and save it for better things while slowly growing your net worth. No doubt, your net worth can change and improve with time. Watching and observing your finances- where the money goes, how much you receive, return on investments, credit card balance, your loans- is pertinent to know whether your goal is to grow your net worth or not.
Luckily, this task is made easier for you. Now manage your long-term monetary health and assess your assets and liabilities using something that has almost become a part of our body- the mobile phone! There is an app for everything; all you have to do is download one of these apps to prevent you from defaulting your bills, tally all of your balances and stay right within your set budget limits. These applications will observe your financial habits and even suggest you with better financial decisions. So, here are the 10 best budget management apps to grow your net worth:
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“You Need A Budget” or YNAB make sure that you earn a lot for every dollar you get. You can create various categories in the app and assign a budget for each category like clothes, vacations, gifts, petroleum, etc. It makes sure you do not spend unnecessarily on such categories. It has access to all different platforms and is connected to your bank. It also encourages doing your finances by yourself so that you understand how to save more money and how precious every dollar is. The app costs $6.99 every month and has a free one-month trial. The app also provides excellent guidance on smartly spending your money. It provides a lot of courses, tutorials and even YouTube Podcasts for helping you deal with your money better.
One of the money-management apps that have been running for a long time is the Mint app. It is free of cost app and has an aesthetic design for you to easily navigate. The app keeps a check on your splurging activities by using customisable alerts. Based on your history it curates a monthly budget for you to improve your savings. It also shows you a line graph to give you a better picture of your net worth and how it is growing. The advertisements that the app shows are for your financial habits. You can ignore the ads if you do not find them relevant.
3. Personal Capital
As the name suggests, the app is very much user-friendly and has an easy interface while pictorially representing all your financial deed in a simple yet profound manner. They provide a holistic view of your money matters. They take in your investment details as well thus enabling you to grow your money more efficiently. They sometimes provide you with professional help as well. They make it easy to track your performance based on your investments.
Acorns app has a smart and intuitive interface and holds in your investment habits as well. They do not provide IRAs so you have to deal with the money that is left after you funded your insurances, emergency funds and your retirement plans. You will not feel like you are compromising on anything in your life while using this app. This app smoothly saves money on weekly, monthly or yearly bases and encourages you to put your feet into the pool of investments. They cost $1 per month while they are free of cost for college students for up to 4 years.
Its main aim is to reduce your stress and emphasise on the really pertinent thing- eliminating debts. Their motto is to give each and every dollar a purpose and improve your savings. Their basic pack starts at $6 per month coming with a free trial that connects to your bank accounts and curates an online envelope budget while taking financial control of your future so that you need not stress much. The Mvelopes’ Plus subscription starts at 19$ a month where you can gain access to the learning centre, Debt centre for assessments and a check-up every three months for building up a long-term financial plan. Their complete package starts at 59$ a month where all your finances are managed by your personal Financial Coach by making you follow a customised financial roadmap.
The money dance is for iOS users while being compatible with Windows, Mac and Linux users too. It automatically does online money transactions and categorises your priorities. Its homepage is an overview of your financial balances, upcoming and overdue transactions and reminders. The app costs roughly $63 which is easily affordable.
7. Pocket Guard
Pocket Guard is an app the constantly strives to find savings amidst your regular spending. Its tracker and analyser will help you build a better budget for your finances. This app is good for you to save your money in the long run. It is free to use and give out spending limit alerts to check your splurging habits. Pocket Guard Plus will help you track your cash transactions also. It helps shift the power to you, allowing you to have greater control over your finances.
Quicken is a computer-based software and has an application as well which is not exactly the full extension of the app. Price-wise it is one of the best financial budgeting apps out there. The price starts at $34.99 per year. This app is the closest you can get to a personal account on the internet!
9. Every Dollar
This app is mostly free but you have to pay to get some extra features. The software is very easy to navigate with a state-of-the-art dashboard and other features in the app. You can make automated transaction processes once you pay for it. This app helps you to analyse and spend on your budgets using a plethora of plans and tracking every single dollar in your account.
The Spendee package starts with a basic $1.99 per month and up to $14.99 per year. It offers to work on different currencies. Its software is very vibrant and attractive to use. This app lets your family members to use it as well with the paid version. So, this can help you and your family to distribute and divide your bills!
So these are the 10 best budget management apps to grow your net worth.
I am Sapna Singhal Senior Content Writer at My Banking Information which is a Financial Content Blog which teaches non-financial people how to invest and also about finance in a simple and easy to understand way. Check out my website https://mybankinginformation.com/