Are you tired of worrying about paying all of your bills each month? Do you every talk about your finances with family, friends, or even a trusted advisor? All too often, personal finances are too taboo of an issue to discuss. Instead of living in worry or shame, take some steps to improve your financial health with the installation of these free financial applications. These recommendations help you change your financial situation, understand your spending, and build your savings. You don’t need to do the math when these applications can do it for you.
Mint: Always Know Your Numbers
Mint is a free app and is known as one of the best because of its useful features and user-friendly interface. Mint is an app owned by the people that make TurboTax and QuickBooks so it. All you need to do is connect Mint to your bank account, credit cards, savings account, and retirement accounts and wait for the information to roll in. You can also connect it to any loan accounts you have for bill payment integration. The best features of Mint include:
- Free Credit Report
- Notifications About Your Budget
- Clear Information About Your Spending Categories
- Goal Setting Features for Savings and Paying Debts
- Pay Your Bills Right Through the App
- Change Spending Habits and Track Results
Best Feature: Mint has a feature which allows you to add a potential purchase to your budget and see how it impacts your finances. Before spending, get a visual of large purchases with the Mint app.
Level Money: Know How Much to Spend
Level Money is a free, convenient application which tracks your ability to spend money. It is fairly simple to use, and works best for those with simple financials. It analyzes your financial picture with a useful feature to divide your spending money. This personal spending guide shows you how much you can safely spend once your essentials are accounted for.
Best Feature: This application is like getting an allowance when you were a kid. You know how much money you can spend each day, week, or month. Stick to your disposable income and you’ll see your savings increase dramatically.
Qapital: Focus on Your Future
Qapital is a free savings app focused on building a savings account for a specific purpose. Whether it is you planning a vacation or saving for a wedding, this is a way to focus on your future. With their unique options, you can add money to your savings for a number of reasons all instigated by ‘rules.’ Rules follow the format, “If this, then save.” Simply setup rules which trigger deposits into your account. Some of the most popular rules Qapital users implement to make savings fun include:
- The Guilty Pleasure: If you are trying to decrease your spending but you give in to a guilty pleasure, create a rule to add a set amount to your savings when you spend on a guilty pleasure.
- The Spending Cap: Set a spending cap for a specific purchase or store and when you spend less than your cap, the remaining amount goes into savings.
- The Round Up: Just like Acorns, this rule rounds up your spending amounts to the nearest dollar. All of the change is added into savings.
- The Weather Changes: When the forecast calls for a certain weather condition, money is added to your savings. This can be rain, snow, sleet, or event a certain temperature.
- The Step Goal: If you achieve a certain goal on your Fitbit, money gets added to your savings account.
- Resist an Impulse: Every time you resist an impulse purchase, get money added to your savings account.
- Game Play: Whenever your favorite team is playing, money goes into your savings account.
Best Feature: This application makes savings fun! Add rules to increase your savings quickly. You can even add money to your savings every time the International Space Station flies overhead.
Technology has the potential to make our lives significantly easier if we just use the right apps. Mint helps build an accurate picture of where your money is going, Level Money breaks down exactly how much money you have to spend on a daily basis, and Qapital helps you save while also having a bit of fun with it. Try these apps today.