Do you ever get your credit card bill at the end of the month and are puzzled about how you spent so much money? Do you open your wallet only to wonder where all your cash has gone? Do you pull out your debit card to make a purchase and discover you don’t have the funds in your account you thought you did? Sounds like you need a money management app. 

Take Control of Your Finances with These Top Money Management Apps

  1. Mint

This free tool has almost everything you could desire in a financial app. With two or three bank accounts, several credit cards, and different investments, it’s hard to keep track of it all. Mint is able to gather your information into one place and help you understand what exactly is going on with your money.

It connects to almost every financial institution in the United States, which makes it easy for you to get an accurate picture of your finances in real time. Mint will also send you personalized saving and investing tips to help you make the most of your money.

One of the best features of this app, however, is the alerts it can send. If you’re going over budget, spending an unusual amount of money in an area, or paying too many ATM fees, Mint will let you know. It can also detect suspicious activity, so you can contact your credit card company or bank the moment something happens.

Mint also addresses the vital “Are money management apps safe?” question. This tool boasts triple layer security and uses the same 128-bit SSL encryption and physical security standards as banks. They are also monitored by third-party online security experts, giving users the peace of mind needed when dealing with finances.

2. Mvelopes

The award-winning Mvelopes app states it is able to not only help you get out of debt, but can also help you stop living from paycheck to paycheck. It takes the popular envelope budgeting system and digitizes it. According to Mvelopes, “Labeling our money’s uses, and the goods we purchase as an appropriate use for that money, leads to changed behavior.”

This app allows you to quickly make an online budget, which tracks your spending. Mvelopes also encourages preparing for the future by creating a personalized savings plan that is easy to follow.  

They even offer a free ebook titled Budgeting Bootcamp. Focusing on six topics, this ebook teaches the reader how to create and stick to a budget, stop overspending, develop a habit of saving, eliminate debt faster, prepare for future goals, and get rid of money-based stress.

Most importantly, a free one-on-one financial coaching session is available to app users.

3. Unsplurge

Is there a vacation you’re dying to take, or a car you’ve had your eye on for a couple of months? Unsplurge is able to turn your goals and aspirations into a reality by helping you save for those special splurges. This app turns the daunting goal of saving into several easy steps.

First, pick and define the goal you’re striving towards. The more specific the better as it will be able to help you determine how much money to set aside each month. Second, track your progress and pat yourself on the back. Being able to visually see the steps you’re making towards your goal is encouraging and strengthens your resolve to continue your saving. Finally, reach your goal and enjoy your splurge! One completed, you’re able to share your goal with your fiends and other people in the Unsplurge community.

4. Qapital

Qapital is another app that helps with savings, but rather than manually tracking your progress, this app is able to automate your savings. Users are able to set a daily, weekly, or monthly automatic transfer to help you reach those goals more quickly.

This app also acknowledges that we all have our guilty pleasures when it comes to spending, and it helps us to try to combat those impulse purchases. Qapital does this by allowing users to set rules and only spend certain amounts on those guilty pleasures to keep money for more important matters.

Freelancers like this app in particular because it makes saving for those year end taxes automatic. By connecting the app to your bank and setting a percentage, freelancers are able to concentrate on their clients rather than pinching pennies for the IRS.

When we know where our money is going and are able to set budgets and goals, it’s easier to take control of our financial futures. While it may initially seem impossible to get rid of debt or purchase your dream home, these tools are a great starting place to eventually arrive at your desired destination.  

Stop letting your money control you. It’s time you take control of your money!

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