9 Essential Apps to Take Control of Your Money

Master Your Finances: 9 Essential Apps to Take Control of Your Money

Last Updated: February 4, 2024By

In these uncertain times, it’s natural to feel concerned about your financial situation. Many people are worried about their finances, especially with rising unemployment rates and an unpredictable economy. However, it’s crucial not to avoid thinking about your budget or money in general. Instead, take this opportunity to create a plan and be proactive with these 9 essential apps to take control of your money.

9 Essential Apps to Take Control of Your Money

Regardless of whether you’re burdened by student loans, living paycheck to paycheck, or just beginning to save for retirement, now is the time to let go of fear, obligation, and guilt associated with money. Remember, as women, we have the power to excel in everything we do when we set our minds to it. So, what’s the first step? Acknowledge your feelings and fears about money. Reflect on your money history and understand the significance it holds for you. By recognizing how your emotions about money affect your choices, you can develop a plan to move forward, according to Brittney Castro, Mint CFP and CEO + founder of Financially Wise.

9 Essential Apps to Take Control of Your Money

Next, educate yourself. Seek out books that inspire and teach you about money management. Castro recommends “The Science of Getting Rich” by Wallace Wattles and “A Random Walk Down Wall Street” by Burton Maikiel as her favorites.

9 Essential Apps to Take Control of Your Money

To create a budget and track your expenses regularly, turn to apps for assistance. Here are nine essential apps that will help you navigate your current financial situation, plan for the future, and make confident decisions about your money.

  1. Copilot ($3/month): Copilot is a finance-tracking app designed by a former Googler. It not only tracks your expenses but also provides personalized insights. Through machine learning, Copilot learns about your spending habits and helps you make smarter choices regarding saving and investing. Its sleek design, customizable categories, and budget-setting features make it a favorite among users.
  2. Mint (Free): Mint offers a comprehensive view of your finances by linking all your accounts in one visual app. It provides reports on your spending, budgeting, net worth visualization, and more. With Mint, you can manage your day-to-day spending and save for the future.
  3. You Need a Budget (Free 34-day trial, $7/month): Also known as YNAB, this app takes the stress out of getting out of debt. YNAB helps you create a monthly budget and categorize your deposits, making it easier to avoid impulse purchases that contribute to debt.
  4. Joy (Free): Joy takes a positive approach to your finances by categorizing your purchases as “happy spends” and “sad spends.” This psychological perspective helps you clear your financial clutter. Additionally, Joy connects you with a money coach and offers a free FDIC-insured savings account to keep you on track towards your financial goals.
  5. Twine (Free): For couples who combine their finances, Twine is an excellent option. It allows you and your partner to set up a joint profile and link your goal accounts, such as buying a home. Automatic transfers can be scheduled, and you have the choice to invest your money or save in cash.
  6. Acorns ($1/month): Acorns helps you invest your spare change by rounding up your purchases to the nearest dollar and transferring the difference into an investment portfolio. You can also set up recurring withdrawals and open a tax-advantaged retirement account for an additional $1 per month.
  7. Wally (Free): Wally is a no-frills budgeting app that allows you to save pictures of receipts, making it easier to track tax and business-related expenses. It also provides you with an overview of your remaining budget for the month every time you log in.
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