5 Money-Saving Apps That Would Do The Penny Pinching For You.

Most of us are financially stable but only a few have mastered the art of saving. You can avoid financial humiliation by carefully managing your money by using some apps on your phone. These ten applications give you advice, help you budget and invest.

Whether it’s preparing to buy a big-ticket item, building a nest egg for retirement or just saving cents and dollars on every day recurring purchases, saving money is extremely important. Surprises are usually delightful, but it’s never enjoyable to receive a message from your bank saying your account is overdrawn. It does not matter where you are on your financial journey, you need to know this you can turn your financial life around and start saving. The first step in the right direction will keep you on the right track. But as with most things, the first step is the hardest one. Most of them are financially stable but only a few have mastered the art of saving. You can avoid financial humiliation by carefully managing your money by using some apps on your phone. These ten applications give you advice, help you budget and invest, and help reduce your overall financial stress:

1. MINT

Mint is a popular free online personal finance management application from intuit that offers helpful financial tools such as transaction tracking, budgeting, categorization, and bill reminders makes mint useful for many people. Mint keeps track of your expenditure, income, credit score. Mint syncs user’s bank accounts, credit cards. Mint gives free credit scores and reminds them when they cross the budget.

How it works — Once a user creates an account, they enter information of all bank account, credit card, and debit card information plus any bill which has monthly due. Additional features that mint provides to its users are to track loans and investments including insurance. To help users track better and spend wisely, Mint downloads several months of data from bank accounts, including transactions. It also provides a feature of tracking all cash and ATM transactions to ensure that they are keeping eye on all their spending. Mint also categorizes the transactions based on its nature and the customization feature allows for tagging certain transactions to get a more in-depth analysis of the transaction.

2. ACORNS

“Imagine if you could invest in your future without really noticing,” is what is written in bold prints on Acorns website. Acorns is an American financial technology and services company located in Irvine, California that specializes in micro-investing and Robo-investing. If you think you don’t have enough money to invest, it is a money-making app for you. This easy-to-use app helps you invest your spare change.

How it works — Acorns is a finance company that permits individuals to round up purchases and automatically invest the rest. Acorns allow customers to automatically invest in a low-cost, diversified portfolio of exchange-traded funds offered by some of the world’s top asset managers. Customers grow their wealth in one of five portfolios constructed with help from world-renowned Nobel Laureate economist Dr. Harry Markowitz. Acorns smart portfolio algorithms automatically work in the background of life, helping users build wealth naturally, pennies at a time.

3. CLARITY MONEY

Clarity Money is an expense tracking and bill negotiating app. The app allows you to link your checking and credit accounts, so you can categorize all your transactions in a single app. They also allow you to manage all your accounts from a single account. Apart from all these, clarity money helps you manage your expenses and track your spending, this app will help you do things like canceling your gym membership which you haven’t been using or find credit cards with rewards that are ideal for your spending habits.

How it works — Clarity money quickly links your financial accounts with clarity account. The app uses data to give you a clear view of your financial choices and tools to help take control of your financial life.

4. EMPOWER

Managing things is the easiest thing you could do with Empower. Empower keeps track of all your transactions, pays off your debt, reminds you of the bills which are due. Empower also provides you financial tools such as budgeting, controlling. These tools help you save and bank more with a personalized financial bank in your pocket. If your goal is achieving financial freedom, you need this money-saving app in your life. Empower is absolutely free to use, so why not install it right away!

How It Works — You set your saving goals and empower figures out how to get you there. You can customize your budget categories and stay on top of your spending 24/7. You are also provided with proactive recommendations on how to earn more and uncover extra savings. You also get a feature of personalized coaching if you get any financial questions in your mind. Set your weekly savings goal and let Empower figure out how to make it happen. It will even-supersize your savings at 1.60% APY. Empower deposits are FDIC insured up to $250,000.

5. DIGIT

Digit turns idle money into a mindless task. The personal-finance app Digit saves money automatically for you. For a monthly fee of $2.99, you get free bank-transfer notifications, a 1% annual bonus, and low-balance protection. The app tracks your spending habits and then automatically moves money from your checking account into your Digit account once it determines what you can afford. It then invests your saved money and gives you average returns.

How it works — Save cash, pay off debt, like student loans or credit card bills, and manage your savings goals with Digit, your smart financial assistant. This personalized money management app analyzes your savings and spending, assessing the right amount to save in your secure Digit savings account. Digit creates customized savings goals and pays off credit cards or student loans. Keeping a budget and rounding up your spare change are things of the past. Digit helps you to achieve your savings goals with ease. You can also pay off debt and save cash without thinking about it. You’re reducing debt automatically, so you can achieve your financial goals quickly.

“ The simple fact that it is hard to learn that the time to save money is when you have some.” — JOE MOORE

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Originally published at https://www.fuzia.com.