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Best Apps to Manage your Money

March 01, 2016 2 min read

You don’t need to be an investment banker or a hedge fund manager to be focused on your spending and saving. Everyone should be lucidly aware of their income, expenditure, liabilities and savings. From having stringent budgets to planning ahead and making sure that there is enough money for the future, making smart investments and averting risks, tracking daily expenses to finding better deals which can save you money, there is a horde of different things you would have to do to manage your money. Fortunately, you don’t need any expensive software or a unique algorithm to manage your money. All you need is one of the best apps.

  • Lydia and Venmo are great apps to send and receive payments. Venmo is only available in the United States. Lydia is an ideal alternative in Europe. Both these apps allow you to share money among your friends, family and relatives without paying any fees. Lydia allows you to use your credit and debit card for payments beyond your social circle. The luxury to make and receive payments from near and dear ones or just people you know without being charged a fee and getting them immediately credited or debited is certainly something you want to consider if you wish to manage your money.
  • Mint is a free app available on Android, iOS and Windows. It is actually one of the most popular apps in the world. The app allows you to sync your bank accounts, any financial account you may have, such as mutual funds or any portfolio, you can merge all incomes and spending, savings and assets, you can work on budgets and even manage you 401(k) or IRA. There are notifications for overspending or when earnings are insufficient according to budgets. The app also has an intuitive program that assesses your spending habits and can make recommendations to help you achieve your financial goals sooner.
  • GoodBudget is another free app for Android and iOS platforms. It is a budgeting app primarily that will help you to watch your spending and more importantly facilitate saving. You can understand spending habits and break them down into monthly, weekly or fortnightly cycles.
  • Mvelopes is another free app on Android and iOS platforms and it is one of the more secured apps. The app focuses more on your long term financial goals. When you start using the app, you would have to answer a few questions that will allow the program to understand your financial needs and what your needs could be in the future. Accordingly, you get to come up with a financial plan. Managing your money is not just about accounting or finding a balance between earning and spending. It also involves making decisions that will help you in the long term.
  • BillGuard is another very secured app that allows you to manage your money. The primary feature of this app is its focus on spending habits. That is essentially the key to sticking to a budget.

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