Best money management apps are one of the most curious and sought after topics lately. If you are not a financial guru, then you might be wondering which is the best money management app. In this post, we have reviewed 6 of the money management applications in detail for you. Mint, YNAB, Honeydue, Expensify, Marcus Insights and Personal Capital are some of our favorites. These apps all allow you to keep track of your spending, set goals, and help you how to be more positive with your money.
Best Money Management Apps List
Mint
Mint is a money management app that allows you to track your expenses, set bill payment reminders, and monitor your credit score. It also lets you see how your investments are doing, and it automatically categorizes all your spending transactions. If you have several credit cards linked to Mint, you can set up budgets for each, and Mint will automatically categorize them and track them against your budget. This app is free to use, and it makes managing your finances easy.
In addition to being a budgeting app, Mint also lets you set goals and make adjustments to them based on your spending habits. You can also create a one-time budget or set a monthly budget. It also lets you select whether to rollover unused funds from one month to the next, which is useful if your expenses are unpredictable. However, if you don’t like setting up budgets in Mint, you can create custom budgets.
Users can connect all of their financial accounts in Mint. This allows the app to keep track of their spending, which includes alerts when they go over budget, pay ATM fees, or go over a budget. Mint also keeps track of all of your bills in one place and reminds you about payments, whether they’re on time or late. The app even offers a free credit monitoring service, so you don’t have to worry about paying your bills again.
YNAB
YNAB is one of the best money management apps that allows you to create categories and earmark each dollar for a specific category. In the “Spending” category, you input a category, the amount, and the payee. Then, YNAB subtracts your spending from the available buckets. That way, you can manage your finances without spending a dime extra on pen and paper.
The interface may be a little confusing at first, but once you’ve gotten a hang of it, you’ll be able to save money and budget more efficiently. The YNAB website has helpful articles and videos to get you started. You can set up the app to automatically import your transactions, or you can manually enter each transaction. YNAB also allows you to keep track of available funds.
Another feature of YNAB is its ability to track other financial accounts. It’s not as easy to do this with other budgeting apps, but you can set up separate accounts for each of your financial accounts. You can also select which accounts you want to link with YNAB. And the best part? It’s free! There’s a free trial version to test out, so you can see if it meets your needs.
YNAB is a better money management app than many people think. It allows you to create categories and earmark funds for different expenses. It does not have an internal bill pay feature, but it does give you the option to filter your funds towards specific expenses. This makes budgeting easier and saves you from frustration later. However, you will have to invest a little more time and effort into YNAB compared to other budgeting apps.
Honeydue
If you are looking for a money management app for couples, Honeydue may be right for you. This app has a nice interface and allows two people to work on a joint budget. Couples can even collaborate on spending by tagging particular transactions as shared, as well as adding reactions to specific transactions. Couples can also set financial goals, as well as budget for household expenses. Honeydue also allows couples to share expenses and create joint budgets.
Once installed on an iOS or Android device, Honeydue can import transactions from bank accounts you link. You can also manually enter transactions in Honeydue. Each day, make sure to review your spending and set a budget to stay within your means. If necessary, you can split the transactions among partners. Honeydue will also show you if you’ve exceeded your monthly spending limit. You’ll be notified of any overspending or underspending.
A great feature of Honeydue is its partnership feature, which allows couples to manage their finances together. The app has three parts – individual expenses, a shared expenses section, and a calendar. Individuals and partners can collaborate on spending by setting monthly spending limits and getting alerts when they’ve exceeded them. In addition, Honeydue also helps couples coordinate their bill payments and respond to any disagreements. It also offers a blog where couples can talk about money management and discuss issues and problems they may be facing.
Expensify
With its seamless integration with corporate credit cards and accounting software, Expensify is the s one of the best money management apps for your business. Using Expensify, you can automatically approve expenses that are less than $5 and reduce your administrative burden by eliminating repetitive data entry. You can also set up custom rules to automatically approve expenses when they’re under $5. The Expensify app is extremely easy to use and looks good. Its user-friendly interface lets you easily upload receipts and categorize the money you spend.
The sign-up process is easy and hassle-free. It features a concierge bot that walks you through the process. Expensify even has a free trial that allows you to try out the app. If you find it helpful, you can upgrade to a paid version. If you want a free trial of its desktop version, you can sign up for it. The app also includes a variety of helpful how-to videos to help you set up the app.
The app also supports GPS mileage tracking and allows you to type in the distance you traveled. It also tracks mileage, has a group plan and integrates with accounting software. There are many features to choose from, but these few stand out from the rest. Expensify’s integration with accounting software makes it easy to manage expenses for small businesses. This app can even import receipts directly from web pages and apps. You can even set up a group plan and get automatic expense approvals.
Marcus Insights
There are several reasons why Marcus Insights is the best money-management app. Its features include a wealth of financial data, including your account balances and recent transactions. Plus, it’s free. If you’re worried about security, Marcus Insights is not an actual bank, but it’s safe to use. The app can link to multiple accounts, so you can see your recent activity.
For the money-saving user, Marcus by Goldman Sachs offers a plethora of features, including the ability to move money into CDs, apply for loans, and add external financial accounts. Its savings account is free of any minimum balance requirements, and it has recurring transfers and deposits. Users can also schedule transfers, add and remove external financial accounts, and monitor their finances. Marcus Insights is the best money management app, according to a review by a financial expert.
The app gives its users a top-down view of their financial accounts, from savings to investments. It also provides budget forecasts. It’s part of Goldman’s push into consumer banking, and will be in direct competition with mobile consumer banks and megabanks. Users can also expect to get a personal chequing account through Marcus Insights. There are some downsides to this, but the benefits are worth it.
Personal Capital
For those who want to have access to professional financial advice without the high fees, Personal Capital is the money management app to use. Personal Capital works with your linked financial accounts to create a retirement strategy based on your needs and risk tolerance. It then helps you invest accordingly, calculates fees, and estimates your retirement benefits. It also allows you to manage all your financial accounts, from checking investment fees to tracking your savings. In the end, it can help you save for retirement and achieve your financial goals.
While Personal Capital is a free money management and investment tool, it is worth keeping in mind that there are many paid services available, such as wealth management. For those who want professional help, Personal Capital offers a wealth management service that uses human advisors and computer algorithms to help you build a portfolio tailored to your needs. Personal Capital’s fees are between those of a robo-advisor and traditional money management.
Both Personal Capital and Mint offer budgeting features. They both let you set a monthly budget. You can also create your own budget by choosing a timeframe, quantity, and whether the overpayment can be carried over. Mint also lets you view your net worth in a bird’s eye view. Mint is better for creating a budget, but it is not as comprehensive as Personal Capital. Mint’s budgeting function is more organized. The app also lets you set up reminders when you’re about to exceed your budget.
So, what do “you” think about Best Money Management Apps?
In this article, we have reviewed 6 of the best money management apps.
In the comments section, you can give an idea to those who do research on this subject by mentioning the positive and negative aspects of the applications you have used so far.
Other Links:
Wikipedia: https://en.wikipedia.org/wiki/Money_management