As if the virus weren’t enough, we keep hearing that ugly “R” word used: Recession. Experts can’t agree whether a recession is coming or not, or whether it’s already here, but one thing they all agree on is that it’s a good time to be careful with your money. That can be hard when you’re trapped at home with your credit cards and your Amazon account. Luckily, there are dozens of apps out there that can help you spend less, put more in savings, and even start investing.
Here are a few of the best apps to help you through whatever comes your way:
Best For Looking at Your Whole Financial Picture:
You’ve probably heard of Mint; it’s been around for a while, and with good reason. It’s one of the best apps for people who want help sticking to a budget and want to see their whole financial picture in one place. Mint syncs with your bank accounts and automatically puts transactions into categories that you create. It will remind you when bills are due, and you can use it’s bill pay feature to pay them all in one place. Mint will also analyze your spending habits and provide you with insight on how you can do better.
Mint will help you track your investments in addition to your debts and spending, but budgeting is its most robust feature.
Suppose you are looking for something like Mint, but with a stronger focus on investments, we recommend Personal Capital. This app is not free like Mint is, but if investing is a big part of your financial strategy, then it’s worth the small monthly fee. The user interface is intuitive on any device, and the app will even give you tips on how to increase your returns.
Best for Saving Money
This app gives you the power to save more money by lowering your expenses and finding money in your budget that you should be saving. You can set spending limits for different categories of your life and use Empower’s autosave feature to effortlessly put money aside.
Empower will also analyze your spending habits and give you advice on where you could save. It lets you know if you are overpaying on a bill or are paying for a subscription service you never use. They can even help you negotiate lower phone, cable, and internet bills. * Plus, you get free access to a financial advisor with your paid subscription.
*Bill negotiation services provided by Billshark, which charges 33% of savings. Customer savings may vary.
Best For Basic Budgeting
If you don’t want to sync an app to your bank account, but you need some help keeping track of things, Dollarbird is the app for you. It’s free with premium add ons, so you don’t need to worry about paying for one more thing. Dollarbird lets you create a calendar with color-coded transactions so you can always see when bills are due and when your paycheck is coming in. You have to enter transactions manually, but that is actually a plus if your goal is to be more hands-on with your finances. After you’ve entered your transactions, Dollarbird will give you a projected balance, so you’ll know what you have left to spend on other things or put aside into savings.