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9 Helpful Apps for Managing Your Finances

August 2, 2016 • Prestige • Tags:

Having full visibility into your finances and keeping everything organized is the first step to getting your financial situation where you want it to be. You can’t stick to a budget if you don’t make one and you can’t pay down your debt or improve your credit if you don’t have a clear picture of what it looks like. Here are a few types of personal finance apps to you get started on the road to financial control.

Mobile Banking


Regardless of the institution you use for your checking and savings accounts, chances are they will have an app available for you to download. Using mobile banking allows you to check your account balances at any time and make transfers on the go. You can also use your mobile banking app to deposit checks, saving you a trip to the bank, which comes in handy especially when you need your money fast. 

Budgeting


There are a plethora of budgeting apps out there; the key is finding the one that works for you. You’ve likely heard of one of the most popular budgeting apps, Mint, which syncs up with your bank account and helps create a customized budget. Not so sure about syncing up with your bank account, or looking for something more simple? GoodBudget is an app that simply separates money into virtual envelopes, and tracks how you’re spending in each category. 

Credit Monitoring 


One of the most important apps you can make use of is a credit monitoring app so you can keep an eye on your score, work toward improving it and look out for any irregular activity (like identity theft). Again, there are plenty to choose from, and that includes paid and free versions. Credit Karma is a free app that offers free credit scores and reports and allows users to monitor their spending patterns by linking to their credit card and bank accounts. Credit.com has a simple interface and gives clear explanations of why your actions may be impacting your credit score.

Taxes 


Did you know you can even file your taxes on your smartphone now?! Apps like TurboTax and H&R Block allow you to do just that, so all you need is your phone and a W2 to get started. The IRS even has its own app that provides helpful tools so you can track the status of your tax refund, consult your tax records, search for local free tax prep providers and sign up for helpful tax tips. Getting behind in your taxes is a sure fire way to find yourself in a financial bind if you owe the government money. And if you’re owed a refund, you want to get it as soon as possible so you can use it to pay down debt or help with bills. With these apps there’s no reason to procrastinate during tax season! 

Investment 


You may think investing is only for the suits on Wall Street but these days that’s not true. Even if you feel like you don’t have a lot to work with, there are easy ways to make your money work for you. Apps like Acorns and Robinhood allow you to invest small amounts of money for little to no fees, allowing you to make the most out of the excess in your budget. 

As you can see, there are quite a few options available to you in each category. The best thing to do is try a few and see which are the best tools for you to keep track of your spending, savings and credit report so you have enough room in your income to pay down your debt. Have a favorite personal finance app that makes your life easier? Let us know in the comments or on Facebook!