Top 6 Personal Finance Apps

top-6-free-personal-finance-apps

Finance apps are a great way to set and meet your financial goals. It can help you track savings, create budgets, invest funds, and much more. Choosing an app may not be the biggest financial decision, but it makes a huge difference in your ability to achieve personal financial goals. 

How to Choose a Finance App

Your financial goals should be the deciding factor as you consider the millions of apps out there. Free finance apps may seem ideal, but will they connect all your accounts, create a budget, or track your credit? Knowing what you want to accomplish will help you find the perfect tool at the right cost.

Securing your personal information is equally important when it comes to personal finances. Research what level of security a finance app has before committing all your money to it. Some security features to look for include multi-factor authentication and 256-bit encryption.

Outside of finance, the app should also include excellent customer service. There is nothing more frustrating than waiting on a call for hours to answer one question or reset a password. Read reviews to make sure you receive the assistants you paid for. 

Here are some apps to consider for taking your personal finances to the next level:

Personal Capital

personal capital app

Personal Capital is an online financial advisor and personal wealth management system that tracks day-to-day and investing portfolios. It links all your financial accounts and tracks net worth.

Cost: Free

Available: Android, iOS, and Desktop 

  • It has multiple features including investment portfolio monitoring, tracking cash flow, setting short and long-term goals, and builds savings.
  • There are limited customization options, but it has a simple interface to set-up and manage.
  • Something to keep in mind is the minimum balance for portfolio management service is $100,000.

Personal Capital was rated A+ encryption technology by Qualys SSL Labs.

Mint

Mint Budget & Expense Tracker app

Mint is a personal finance app and website great for everyday budgets.

Cost: Free with in-app purchases 

Available: Android, iOS, and Desktop 

  • Some features include monitoring, analyzing, and automatic categorization of  personal finances, free credit score tracking, customizable budgets and bill alerts, and subscription monitoring.
  • Security wise, the app includes multi-factor authentication and software encryption

Credit Sesame

Credit Sesame app

Credit Sesame is a credit and loan company that helps monitor credit history and score.  

Cost: Free with in-app purchases

Available: Android and iOS

  • It is free to check your credit score, get reports, and set alerts.
  • Each member is given $50,000 in identity theft insurance.
  • It offers personalized advice based on your goals and profile.
  • Your information won’t be sold, and the app uses a firewall, 256-bit encryption, and secure servers.

You Need a Budget (YNAB)

YNAB app

You Need a Budget (YNAB) is a personal budgeting program that helps you assign your money to categorize expenses. 

Cost: After a free trial of 34 days, $14.99/month or $98.99/year 

Available: Android, iOS, Alexa, and Desktop

  • The app budgets for basic living expenses and more, tracks goals, reports on spending habits, and has the option to auto-assign paychecks to your existing categories.
  • The interface is similar to an excel sheet and shareable with another person like a spouse or financial advisor.
  • Customer service includes a support team of real people, a blog, forum, and workshop opportunities.

Vanguard

Vanguard app

Vanguard is a registered investment advisor with $7 trillion in global assets and was the first to launch an index mutual fund for individual investors. 

Cost: Free 

Available: iPhone and iPad only

  • The app is designed for personal investment, retirement plans, small businesses, institutional investors, financial advisors, and more.
  • It contains hundreds of mutual funds to choose from four types: money market funds, bond funds, stock funds, and target due funds.
  • The expense ratio is 0.07%, the 5 year average annual return is 12.05%, and the 10 year average annual return is 10.33%.

Honeydue

Honeydue app

Honeydue is a finance app designed for couples to share and monitor their finances for better communication and awareness. 

Cost: Free with in-app purchases

Available: Only available on iPhone and Google Play

  • The app has a chat feature for partners to discuss expenses, and a feature where one or both spouses will be responsible for an expense.
  • It cooperates with over 20,000 different financial institutions so you and your spouse can connect every account with ease. Plus, couples can open a joint bank account through Honeydue. 
  • It can’t track any progress towards financial goals nor offer any analytics on your finances. 

Financial Benefits of IAW

These finance apps are only one step of your journey to financial success. A lot goes into planning and progressing your financial goals. Did you know IAW members have access to financial benefits and perks? Members who want to refinance their student loans find it easier with our discount to Laurel Roads. Plus, there are thousands of coupons, discounts, and deals through IAWPerks. Find out what other benefits IAW members enjoy and see if becoming a member is right for you

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