Are you due for a financial makeover? Cutting back on spending and increasing your savings may seem like a daunting task, but don’t worry, we have you covered.
Grab your smartphone, because getting control of your money can be as easy as the tap of an app. And lucky for you, there’s one for nearly every financial situation. There are hundreds of personal finance apps out there, but we broke down the three you need to download right now.
A really good place to start when you want to fine tune your spending is setting a budget, but that can be easier said than done.
The Mint app lets you see your bank balances, bills, credit score, and more all in one place. You can create a budget and track it to understand where your money is going and pinpoint areas where you can cut back and save. Sometimes the truth hurts, like when you discover you spend 50% of your paycheck on Amazon. Ouch!
If you’re like me, you might find recurring charges on your credit card bill. Well, the good news is you can stop the bleeding with the Truebill app.
To use Truebill, you just link your bank accounts and credit cards to to the app. Then it goes to work finding recurring charges that you might have forgotten about. The cool part is Truebill allows you to keep or cancel subscriptions that could be costing you hundreds or even thousands a year. One reviewer said, “Truebill is awesome, saved me hundreds of dollars by finding an old blog host subscription I had forgotten about.”
Now that you have a new budget and have cancelled some of your costly subscriptions, it’s time to start investing. That might sound scary and time-consuming, but for beginners like us, it doesn’t have to be. Meet, the Acorns app.
Basically, Acorns is the virtual equivalent of putting leftover change into a piggy bank. First, you link your credit cards and bank accounts to Acorns. The next part is really easy, you spend your money just like you normally would. Acorns rounds up your purchases to the dollar, and invests the change. For example, if you make a $10.60 purchase, Acorns will invest the remaining 40 cents in ETF’s, or exchange traded funds.
Have you found success using any of these apps we mentioned? Shoot us a Tweet @YahooFinance or leave a comment below.