Budgeting software has been around for some time now. However, the rise in technology has led to a surge in popularity of this kind of software and new types invented as a result.
In today’s tech-savvy world, where consumers yearn for more, these programs offer many benefits to those who use them.
They may help users save money by keeping track of spending habits and telling the user if they are going over budget on their set amount or find ways to save money through deals offered by local businesses.
They may even help users save money on things they weren’t expecting, such as assisting people in finding the cheapest rent or cheap plane tickets to an upcoming vacation destination.
Apps That Can Help Save You Money
The rise in budgeting software over the years has led to several different products with varying features and platforms available for consumers. This can be challenging when it comes time to pick which one is right for your needs.
The best ones can help you to earn cash back on your purchases and save you money on services such as groceries, gas, and insurance. So let’s break down some of the most notable ones currently available on the market today.
Mint is a budgeting program that allows users to set budgets for themselves in each category they spend money in.
The platform also offers customers the chance to see their current spending habits and how much they can save by making minor changes to their spending habits.
This service also connects to your bank account, credit cards, investment accounts, and it learns from your past transactions to predict future ones.
This means not only does it show you where you are spending the most right now, but it shows you where you are likely to spend more in the future so you can budget accordingly.
Another great feature about Mint is its ability to find opportunities for consumers with large balances of cash sitting in an account doing nothing or maybe even losing value due to low interest.
Mint offers those with large balances the opportunity to have that cash invested in safe, low-risk investment vehicles to start earning money on it right away.
Wally is a savings tracking platform that allows users to save money for the long term, such as saving up for a significant purchase like a new car or home.
This app is best used by people who want to save and forget about it until they need it because that’s what this program does. It tracks your spending and puts away money that you designate each week into your savings account.
This application does all of this automatically, so you don’t have to worry about remembering yourself, and no minimum balance requirements mean there’s no pressure when trying to start saving significant amounts of cash on very little.
This app is best used for people who want to save money on things like groceries, gas, or entertainment.
It allows users to create a list of the items they frequently buy and categorizes them based on their proximity to their home or work to suggest places nearby where it can be purchased for a much lower price than at a supermarket or convenience store.
This application also has a built-in bar code scanner, making it very easy for those who have trouble keeping track of all their coupons and other savings opportunities.
Chime is a free debit card service that eliminates monthly fees and overdraft charges while also helping customers save money on things they spend their cash on every day.
With Chime, customers can set up a savings account to automatically transfer some funds from a checking account into a savings one whenever it falls below a certain amount.
This process is done without fees, and the savings aren’t affected by withdrawals from the checking account, meaning users don’t need to wait until payday before starting to save again.
In addition to this, Chime offers its customers an app that allows them access to their accounts wherever they are with ease. This debit card comes with no foreign transaction fees, making international travel much cheaper.
Expensify is a free app that allows businesses and individuals to keep track of their expenses without the need to go through all the hassle of manually doing it themselves.
This application connects with your bank account and credit cards. It automatically tracks things like hotel bookings or airline tickets so that users don’t need to key in this information every time they want to keep track of what they spend money on.
Expensify can also make itemizing receipts much easier for its users because this system converts their images into easily readable digital ones by using optical character recognition technology, which means no more hassling with hard-to-read paper documents.
Moreover, all the data collected by Expensify is encrypted, and the app has an effective search system which makes it easy to find expenses from either a particular date or location.
This app is another program made for those who want to start saving money and those who want to help their children save up for a rainy day.
SmartyPig sets up an account with the user’s information, and from there, they can create a savings goal to teach kids, friends, etc., how to save up interest over time without sacrificing what they need in the present.
With this application, users can set up alerts about their funds, create separate accounts with different goals, and even use it as budgeting software because of its easy-to-use interface.
It can be challenging to manage your finances in today’s day and age. There are so many different expenses that need to be paid every week or month, so having a good system in place is necessary for those who want to succeed financially.
The apps mentioned here should make budgeting and planning much easier for anyone who wants it. The trick here is finding the software that works best for your situation and sticking with it to see results, whether they are immediate or not.