However, technology can change that. While it might be difficult for you to sit down regularly and crunch numbers on a spreadsheet, apps have made it easy to make smart money management a part of everyday life.
It’s just one way that an app outweighs a computer program when it comes to habit management and convenience. There are a few apps that can make budgeting, saving, and managing money a breeze. Here are a few of my favorites:
Digit
This app helps you save money every single day. The first month is free, and then after that it’s $5 a month. You connect this app to your bank account, and then it uses an algorithm to figure out how much money you can afford to save that day.
It takes into account all of your spending habits, and also the total amount you have in your bank account that day. Some days it may only save $0.20, and other days the savings may be closer to $20.
You can set your preferences within the app. For example, you can put a limit on how much it saves every day, and then also tell it to never save money if you have less than a certain amount in your bank account.
This app helps you budget your money. You connect it to your checking account, so you have a real time balance of how much money you have available to spend. After entering in the amount of your necessary bills and expenses every month, it will tell you how much you have left to budget out however you want.
Prism helps you pay all of your bills! It tracks your payday and every single recurring bill that you have. You won’t have to check a dozen different websites to check the balance of your utility bill and credit cards, you can just open Prism on your phone and see everything laid out with the balance and the due dates.
You can set your preferences within the app. For example, you can put a limit on how much it saves every day, and then also tell it to never save money if you have less than a certain amount in your bank account.
Digit is an easy way to save money without even thinking about it. Before you know it, you’ll have a few thousand dollars saved away and you won’t have even noticed. This is perfect if you’ve been trying to save for an emergency fund, but haven’t been able to put very much away.
Acorns
If you’re having a hard time figuring out how to invest your money, Acorns is the app for you. This app works in the same way as Digit where it makes the most of your spare change, or the leftover money that you won’t miss.
You simply connect your credit or debit card to the app. Any time you make a purchase, it will round the purchase up to the next dollar and invest the leftover cents. It invests in over 7,000 different stocks, to reduce risk and make the most out of your spare change.
Using Acorns means that you don’t have to spend time trying to figure out how the stock market works. You can just go to happy hour and grocery shopping like normal, and suddenly you’re investing.
Mint
This app helps you budget your money. You connect it to your checking account, so you have a real time balance of how much money you have available to spend. After entering in the amount of your necessary bills and expenses every month, it will tell you how much you have left to budget out however you want.
It also tracks your spending, so if you exceed your set budget one month, it will alert you. Mint helps you be more aware of your spending, because you can very clearly see how much you’re spending on fast food or travel every month.
Prism
Prism helps you pay all of your bills! It tracks your payday and every single recurring bill that you have. You won’t have to check a dozen different websites to check the balance of your utility bill and credit cards, you can just open Prism on your phone and see everything laid out with the balance and the due dates.
It can help you schedule when to pay them, so you’ll never have a late fee again. Not only will this app help you keep track of every single one of your bills, it also makes paying your bills a breeze. Your credit score will stay safe because you’ll never forget about a bill ever again.
