There is an app for almost everything, including finance-related technology that you could use to help calculate budgets, curb overspending and avoid late payments. If money-saving is among your resolutions for the New Year, here are five apps to consider:
1. Qapital
Qapital is an app that allows you to round your spare change up to the nearest dollar and deposit it into a savings account. This is an effective and non-intimidating way to get into the habit of saving extra money. Plus, you earn 0.10% interest on your savings. You can also sign up for a separate spending account that comes with a debit card. With Qapital, you can save money when spending money. Download it here.
2. Digit
This app offers money-saving decision advice by evaluating your current income—plus all of your expenses—and computing the exact amount you can afford to save. If you agree to this savings amount, Digit will then transfer that amount into a Digit account. Over time, users develop a better understanding of how much to save depending on their expenditures and income. Keep in mind, Digit charges a monthly fee starting at $2.99 after a 100-day free trial. It also pays any overdraft fees if it saves too much on your behalf. Download it here.
3. Honey
If you are one of the millions of online shoppers who loves the convenience and ease of getting items you need without having to leave your home, the Honey app can help you save money and limit overspending—something that can easily happen when shopping online. Honey has a free browser extension for your desktop computer. The extension automatically finds coupon codes for over 30,000 shopping websites and then applies them at checkout. Download it here.
4. Mint
Limit fees and penalties from late payments with the help of Mint, which allows users to track all of their bills and set up payment alerts, making late fees and penalties a thing of the past. The Mint app is free and simple to set up. Download it here.
5. Clarity Money
This app helps you understand where all of your money is going. It will help you find those forgotten subscriptions and will remind you if you’re paying for something you aren’t using. Additionally, Clarity Money provides opportunities for you to negotiate lower rates on your credit cards or other loans in order to help you save money each month. Download it here.
Financial apps can be a great resource to help you manage and save your money. Getting help with even a small adjustment – like saving your spare change or eliminating useless subscriptions – can make a major impact to your finances over time.
Financial adviser, retirement wealth strategist, founder of Strategy Financial Group and author of “Climbing the Retirement Mountain” and “The Retirement Roadmap,” Calvin Goetz is an Investment Adviser Representative who holds the Series 65 securities license, is life and health insurance licensed in the state of Arizona and is a member of Ed Slott’s Elite IRA Advisor Group™ and the National Association of Insurance and Financial Advisors (NAIFA). For more information, visit StrategyFinancialGroup.com.
