Apps

5 Must-Have Financial Apps in 2020

EPF Last Update: September 29, 2020

Nowadays, instead of managing our money with bank passbooks, we have access to incredible financial apps and technology that makes this process much easier. These personal finance apps are linked to bank accounts, providing us with clear insight into our balance and spendings.

We can also see the areas where we’ve been spending the most, track and pay bills, and some even allow us to keep watch over our investment portfolio. All of the best financial apps are available on iOS and Android, allowing us to manage our finances on our smartphones.

Whether you’re looking for an app to help you with budgeting, or one that just lets you keep track of your bank accounts, you’ll find it here. We present the five must-have financial apps in 2020.

Mint

On the top of the list, and for a good reason, is Intuit’s budget tracker and planner, Mint. It is one of the most widely used personal finance apps that provides users with a complete financial outlook. All you have to do is link your cards to the account and this amazing app will do everything else for you – track and classify your transactions and showcase your spending areas.

You can also create a budget you can adhere to and keep tabs on your bills and expenses. The app synchronizes all of your bank accounts and involves the automatic budget setter feature. Mint also displays the factors that impact your credit score, keeping you well-informed about your credit health. Mint is also a great choice for investors as it allows them to monitor investments and pay utility bills, as well as send you email reminders.

The app is used by millions of users worldwide and has been ranked as the top finance app several times. It is available both on your smartphone or your computer.

Intuit is also the company that developed TurboTax and QuickBooks.

Personal Capital

Another great option to manage and track your finances on your phone is Personal Capital. It’s a stellar personal finance app that offers all of the services you need for controlling your finances. Personal Capital features an easy-to-use, beautifully designed dashboard to track your bank accounts, investments, spendings, and pension funds.

This app is connected to more than 14,000 financial corporations globally, providing users with a complete insight into their financial life which can be controlled with an interactive panel. Other services that Personal Capital offers involve a retirement planner, registered investment advisor, and so on. It is also available on both iOS and Android. The app also features a net worth tracker and offers portfolio breakdown.

YNAB (You Need a Budget)

YNAB (You Need the Budget) is a finance app, especially great in terms of real-time money management. Featuring a highly interactive dashboard, YNAB offers outstanding baby sync services, real-time budget management, transaction control, and so on. Apart from the mentioned services, YNAB also features budget workshops and great live support.

The developer of this app, YouNeedaBudget.com, claims that the users of this app will save as much as $6,000 on a yearly basis. However, YNAB is not free to use apart from the first 34 days, and the users have to pay $6.99 a month to keep using its services.

What sets YNAB apart from other finance apps is that it allows users to create budgeting goals such as education, vacation, etc. After creating the budgeting objectives, the users will have to fund their goals by connecting them with their bank accounts.

The application is built around four rules. Give every dollar a job, embrace your true expenses, roll with the punches, and age your money.

Clarity Money

When it comes to managing subscriptions, Clarity Money is a top-notch quality choice. Keeping tabs on subscriptions can sometimes be a difficult process as it’s really easy to lose track. Clarity Money is great for this reason because it tells you to stop paying for the subscriptions you don’t use, therefore saving you money.

In addition to managing subscriptions, Clarity Money is also great for controlling your spendings in general as it gives you recommendations to improve your money management. Similar to YNAB, Clarity Money also allows you to create objectives and link them to your account as well as make regular saving deposits.

You can make multiple goals and connect them with different funds. The deposits below $250,000 are insured by the Federal Deposit Insurance Corporation (FDIC). Seeing how much you’ve spent every month will help you improve your budget tracking. Also, using Clarity Money provides you with access to the free VantageScore credit score by Experian.

Pocket Guard

Pocket Guard is a free to use finance app, particularly good in telling you how much funds you have for spending. It displays all of your financial assets in the same spot. It’s very simple to use and lets you take care of your bill payments, sync your investment data, control different accounts, and other useful features.

It takes only a few seconds to find out how much money you have left for the day, week, or month. The tracking process can go even further as the app allows you to see your spending areas such as eating out, shopping, vacation, and so on.

Conclusion

Money management has never been easier than now, thanks to technology and the fact that the companies that develop are always tracking our needs and adjusting the apps accordingly. You can’t go wrong with any of these apps, as each one of them comes with interactive instruments that facilitate financial management.

Apart from being very useful and simple to use, these apps are also very safe and are great money-savers. Technology and finance apps have made our lives so much easier concerning money management that we no longer have to keep track of our spendings manually, calculate our debts, go to the bank to pay our bills and so much more.

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