Can you boast of knowing your way around money on the regular basis? Are you the one who handles finances so well that always have an extra for some spontaneous spendings? Or are you the one who always begs friends for owing or resorts to frequent lines of credit? And finally, are you so good at personal investment for your happy future’s sake? Be sincere with yourself while answering these questions! Meanwhile, we invite you to look at the recent statistics not to feel out of place.
- 9 of 10 UK customers admit their undereducation in personal finance: almost half of them rely on the bank to do this job for them, while one quarter is, by contrast, misguided by the bank assistants’ financial recommendations;
- 20%+ of US bank clients report the lack of trust in the financial institutions, whereas the prevailing half of total users feel puzzled and disoriented in matters of financial management;
- 62% of US adults showed the tendency of exceeding their credit card limit in the last 12 months, which is a clear rad flag about their inability to pay all their bills timely — 1 in 4 have troubles with that;
- 72 of UK bank services recipients practice no investment strategy in stocks, funds, or shares buying, even though the majority of them know how to do it.
Do you feel a little better now or, on the contrary, even more downtrodden? In any case, that’s not our intention! Instead, we’d like to offer you a perfect solution — to build up your digital intelligence in a smart, tech-friendly way! How? With the help of the best personal financial management apps we’ve gathered in a list for you! Short pros and cons lists will hint at you quickly, while cost and description sections will do the rest. Choose the one that fits your needs the most!
Best 10 Finance App Managers to Become a Pro
#1. Personal Capital
- Excellent for wealth management purpose
- Allows tracing the net worth
- Protects your data with foolproof authentication, encryption, and Yodlee’s security
- Weak in terms of budgeting
- Lacks the manual adding of transactions
Cost: Initially free, but you’re to pay 0.89% of your money to access investment management tools under the condition your accounts are under $1 million.
General overview: This app is a wealth management-focused one, so here you can plan your future financial well-being for the long-term perspective: either to save up some money for your children’s education (Education Planner tool) or your retirement (Retirement Planner tool). Having a holistic view of your budget, you’ll be able to get expertise in personal investments as well as track your money ins and outs monthly. Their extensive blog will help you get more financial knowledge, so don’t miss the opportunity to learn!
- Affordability and on-the-go usage
- In-built calculator for loan repayment
- Reliable sensitive data storage
- Security scanning with Verisign and multi-factor authentication
- In-app ads
- Complains about technical issues
Cost: Fully free.
General overview: In contrast to Personal Capital, Mint is stronger in budgeting and weaker in investment tools, so your choice should be determined by your aim priority. In case you need a convenient and easy-to-use finance management app, that’s a good fit for you! It’s detailed in transaction categories and even unlimited in their number. Besides, you can sync with your banks’ accounts or credit cards to automate the calculation. The app is attentive to your buying and spending habits and will provide you with improvement tips. Finally, there’s a bill pay function for you to have your utilities and other payments made timely and directly in the app.
#3. YNAB (You Need A Budget)
- High-quality customer support
- Solid education base
- Money-back guarantee for the trial period
- Bank-level encryption for your sensitive information
- Requires further paid subscription after the trial ends
- Demands time to learn its basics
Cost: Start with a free trial for 34 days and then go on with either a monthly ($11.99) or annual subscription plan ($84).
General overview: The core money management principle under this app is “count every dollar beforehand and invest it.” Namely, you’re encouraged to predict your spendings ahead of time and form a proactive budgeting approach in the end. To begin with, go through the video manual/a guide/a real-time workshop to get to know how it works and sync your phone with your bank credentials. Additionally, you can see financial goals there, which is a pleasant feature to try on.
- Convenient daily cash flow tracking
- Cures from overspending
- Allows setting goals
- Contains bills payment reminders
- Quick to learn
- Leverages 256-bit encryption, a 4-digit PIN, and biometrics
- Paid PocketGuard Plus account (Premium subscription)
- Absent phone support
- Matching only with the US and Canadian banks
Cost: Free of charge if we take the basic account. The Premium account requires monthly ($7.99), annual ($79.99), or lifetime purchase ($99.99).
General overview: This app is the perfect match if you’re looking for a daily financial helper who will advise you to cut your expenses while being on the verge of going over the limit and foster healthy financial literacy habits. In addition to the app’s tips, you’ve got the education blog to go into the fin management basics deeper. As for its functions, PocketGuard won’t only help you to boost your home economy but also would suggest the best deals on bills payment, manage ATM deposits & withdrawals, and cope with splitting up transactions.
- Implements the well-known principle of ‘envelopes’ customization
- Demands a little action on your side
- Visualizes your remaining balance for each ‘envelope’ category
- Teaches to fight with the debt bad habit and overspending tendency
- Limited bank connectivity to the USA and Canada
- Financial coaching services need the Premium plan
Cost: You can download the Mvelopes app for free as well as get the 30 day trial period that will automatically shift to the paid one on the last day — $6 per month. Besides, you have an opportunity to test and enjoy more functions within the Mvelopes Plus subscription, which is $20 per month.
General overview: The key approach of this app is as old as mankind: divide your cash into several envelopes, virtual this time, and get the fixed sum of money spend/saved for each desired category. Digital sync with your credit card will ease up the whole process and let you track every transaction in alignment with the specific envelope. Online budgeting hasn’t been so simple before!
- Low fee for high balances
- More than saving money, it’s about learning to invest
- Different subscription plans based on your needs and expectations
- Found Money shopping function
- Automatic logout, encryption, and IDs security
- Ineffective for low account balances in terms of annual fee
- Email-only customer service & 1-2 days for response awaiting
Cost: The price for the monthly usage will depend on the type of subscription you’ll select: $1 per month for Acorns Lite (the basic investment package), $3 per month for Acorns Personal (a more significant mix of invest & spend features), and $5 per month for Acorns Family (the widest functional set among all the available).
General overview: This app uses your virtual change for your effortless investment. The only thing to mind is the amount of your balance and its correlation with the fee policy. For example, if you deposit a small sum of money in your account (up to $100), the annual $12 fee seems to be an irrational waste. However, if your initial income is solid, there’s no reason to worry!
#7. Good Budget
- Gives the possibility to make the shared account within your household
- Incorporates the well-known ‘envelopes’ division system
- Easy to get started
- Time-consuming in terms of manual filling in the info
- Security standards can be better: only a PIN and read-only access
Cost: You can be quite enough satisfied with the free version that provides 10 regular and 10 additional envelopes. In case you’d like to have more or be unlimited in their usage, subscribe to the Good Budget Plus plan for $7 per month or $60 per year. Also, you’ll benefit from personal email support, sync linkage up to 5 devices, and 7 years of the saved transaction history.
General overview: Used to EXCEL tables for managing your finances and would like to switch to the convenient app instead? Then Good Budget is the right choice for you! Here, you’re to do some manual transaction categorization and divide your expenses/savings into a few envelopes. Spend your money till the definite envelope is short of it or find some help from the other one in case of emergency. Learn to plan and save your budget with the easy-to-go app!
- Appealing 1 cent minimum investment to start with
- In-app guidance to build a portfolio from A to Z
- On-going automatization according to your preferences
- Stock-Back rewards to encourage your further investment growth
- Substantial monthly commission for low account balances
- High expense ratio of ETFs
Cost: Stash provides a free 1-month investment start, and then you’ll pay a small monthly commission: $1 for accounts under $5,000 and 0.25% for accounts over this sum. In case you’re interested in tax-advantaged investments, you may profit from this feature; either way, you don’t need to repay an extra $2 for this ($3 in total). Besides, there’s also a Stash+ option, $9 per month, giving you the regular market insight reports, a metal debit card with 2x Stock-Back, and the opportunity to open accounts for 2 kids.
General overview: The bunch line of this app lays in the “micro-investing” approach: your small amounts are collected aside to turn into large investments. So, small steps towards a big goal, as a saying goes. What’s more, you’re entitled to select companies you share your values with before investing. Their variety will astonish you too, so be ready to сherry-pick!
Google Play: absent
- Goal-oriented saving tool that works for couples and individual usage
- Easy start for those who are new to investment
- Customized budget distribution according to your risk tolerance
- Intuitive dashboard for tracking and managing your deposits
- Detailed FAQ page for your confident beginning
- Suitable only for iOS and Apple devices
- Considerable annual fee — 0.6%
- Investment starts at a $100 minimum, which is higher compared to opponents
- Satisfactory customer support
Cost: Free, if you’re planning to use only the saving purpose of the app. In case you prefer investing, be ready for the monthly $0.25 payment for every $500.
General overview: It’s a unique finances management tool that allows shared goals and common allocation of assets. Initially created for couples’ joint financial planning, the app can be used for individual usage as well. It’s mainly targeted at future savings for any desired goal: wedding, real estate purchase, retirement, or anything you’re dreaming about. Just define your priority and go on to comfortable investing!
Google Play: absent
- Money in Till accounts is FDIC-insured
- Easy-to-use interface
- Automatical money transfer of money
- Convenient planning of recurring allowances
- Fostering trust and accountability within the family
- Social security standards need some improvement
- Complains about sending access codes failure
Cost: Free for both downloading and using.
General overview: The recent OECD and PISA researches found out that 1 in 4 teenagers had serious difficulties with their everyday spending decisions. 15 countries were subject to the investigation, so the creation of the teens-focused budget management app is a reasonable decision. In this light, Till indoctrinates the young generation with smart spending through the parent-child relationship. Parents deposit and distribute money to the beneficiary’s buckets for saving/spending. Teens, on their part, are supplied with the debit card and unlocking the bucket opportunity after the specific goal completion. All in all, this app serves as an open conversation between parents and their teenage children on financial issues.
After all, which one is your favorite?
In the days of cell phone dependence, syncing your handy device with banks and an efficient budget management app is a must, which, however, doesn’t require much effort on your part. As today’s market is overflowing with suggestions, we’ve chosen the best of the best for you to become thrifty and both financially and digitally savvy. Boost your financial literacy with one or a pair of the above-mentioned apps or come up with your idea of a new tool to DashDevs, and we’ll turn your fantasy into reality!