Do you know how much you use your phone? Each day, most Aussies check their phone an average of 130 times. From banking to checking email to reading the news and listening to music, many of us are accessing information through our mobile apps.
There’s an app for pretty much anything you can imagine. When it comes to money, it’s only natural that we look to apps to help streamline our finances.
However, with so many money management apps available to download, how do you know which ones actually work? In general, each app serves a different purpose. Some are great for managing all of your monthly budget, others are ideal for savings. Depending on your goals, you’ll need to determine the app that’s the best fit for you.
Luckily, we’re here to help. In this guide, we’re showcasing our favourite money management apps for everything you might need. No matter your financial goals, there’s an app for you.
Read on to see our top picks for the best money managing apps around. See for yourself why it’s never been easier to stay on top of your finances.
Mint for All-Around Money Management
Mint is probably the most well-known app of its kind and a great all-around finance app. From creating budgets to tracking and paying your bills to checking your credit score, it’s got all of the major bases covered.
Mint is best for overall money management. If you don’t feel like you have a specific goal in mind aside from general savings and budgeting, Mint is the right fit for you.
Mint allows you to:
- Get bill reminders – Never forget a bill again. Mint sends automated bill reminders to your phone so you always pay your bills on time. From there, you can make payments on the spot or schedule them for later.
- Remember your payment settings – If you’re not very good at remembering your passwords, Mint also has a password management feature. Never forget your payment settings again, even if you have password amnesia!
- Enable fraud alert – In the digital age, cyber threats are serious. You can never be too careful, but not everyone has the time to keep a close eye on their finances. Mint does this for you with alerts for unusual account charges.
- Automate your budget – One of the biggest chores of budgeting is sorting through expenses. With Mint, this is all done for you. Everything is organised into easy to view categories like travel and entertainment.
- Get custom advice – Finally, Mint offers custom money advice about how to reduce your account fees and save more money. It uses what it knows about your spending habits to give unique suggestions.
Overall, Mint really is doing it right. It’s free to download, and it’s easy to get started. Mint syncs with your bank accounts and credit score to provide the most up-to-date information.
Digit for Building Savings Habits
Saving money isn’t always easy, especially if you don’t know where to begin. Digit is a great app for no-fuss saving, perfect for those that want to automate savings habits. It’s essentially a smart savings account.
Digit allows you to:
- Connect your accounts – With Digit, you can easily connect your accounts to analyse your income and spending.
- Set realistic savings goals – How much can you afford to save? Digit takes the guesswork out of this by using your current financial information to determine how much money you can reasonably set aside.
- Save from each transaction – Automatically save with each transaction with automated saving tools.
- Save for unlimited goals – You can save towards the things that matter to you, whether you’re planning a holiday or paying off your debt.
Digit is a powerful savings tool anyone can use. There are no complicated processes or expensive charges. It’s all about saving smarter!
You Need a Budget for Budgeting
If you need to create your own budget, you need You Need A Budget (YNAB). Yep, this app explains itself in its name. YNAB is all about smart budgeting. While none of these ideas is new, they put practical budgeting advice into an easy to use method based on the idea that every dollar has a job.
YNAB allows you to:
- Learn how to budget – If you’re struggling to stick to a budget on your own, the YNAB Four Rules are the key to success.
- Share your financial information and goals – Share your information anytime in real-time with YNAB’s sharing features. This is great for couples and families.
- Track your progress – If you love graphs and charts, this is for you. See your budgeting progress in real-time.
- Join online workshops – YNAB is committed to your success. Join one of their weekly, free online workshops to learn more about personal finance.
This app is great for establishing healthy financial habits. Better yet, it makes budgeting fun and excited. While the app isn’t free, they’ve got lots of extras like free workshops, weekly videos and help docs.
Wally for Tracking Expenses
The Wally app helps you track your expenses so you can figure out how you’re actually spending your money. It’s great for organising all of those pesky receipts as it allows you to easily take photos of each item. Learn more about how you actually use your money.
Wally allows you to:
- See your real-time spending – Organise your real-time spending by category to never lose track of your money.
- Upload notes or receipts – Keeping track of documents and expenses has never been easier with Wally’s storage system.
- Gain insights into your spending – Finally, learn how much you’re spending and how it affects your goals with Wally’s insight tools.
Learning how you’re using your money isn’t always simple. This money managing app helps you compare your income to your expenses so you understand how you’re using your money. You can then use that information to set and achieve your financial goals.
Use Money Managing Apps to Improve Your Finances
With so many great finance apps on the market, it’s easier than ever to manage your money on the fly. Try any of these apps above to see how they work for your situation.
While apps are a fantastic tool, they’re not a replacement for professional debt advice. If you need personalised help managing your debts, we can help you decide which solutions work best for your situation. We’re here to help! Contact us today on 1300 368 322 or simply fill out the form below to take the first step towards financial freedom.