By: Hannah Moore
Hello internet users and perusers! We are here today to help you be the boss of your budget in the digital age. The rise of online banking and financial technology makes taking control of our money more accessible than ever before! But with a world of options at our fingertips, how do we know which money management app is best? Well, it's not so much a question of which is "best" rather than which is best for YOU. Below we have three Andson-written reviews of popular money management applications, along with a fantastic outside resource on how to sift out what does and doesn't work for your own financial style:
Mint can do it all! Mint's main attraction is that it syncs directly with all of your accounts and pulls them into one central hub. Whether it be checking, savings, credit, or even investments, the app displays it all in a user friendly list-type view. Mint then shows user's spending by category in easy to interpret circle graphs. These visual aids help to create a budget in no time.
Are you the pencil and paper type? Well you're in luck, this app is great for people who have a tendency to write reminders on whatever surface they can find! Mvelopes is geared toward saving as your main priority, and makes this happen by allowing the user to separate out bills and other costs into digital envelopes. It even has the capability to record your receipts and other paper transactions. Though this app is on your screen, the labeled envelopes give it a more tangible feel of monetary organization.
Though this could be said about any money management tool, Level Money really zeros in on smart spending for the user. It informs users what they can spend "safely" each day based on income and expenses. It also displays where, when, and how they're spending their money each month in categories such as Food, Ridesharing (like Uber), and Entertainment. This tracking is great for creating a personalized but flexible budget.
Still confused on what direction to take? Policygenius.com cleverly breaks down 14 different apps into a “best money management for you” graphic, with short descriptions for each underneath. Give their article a click: https://www.policygenius.com/blog/money-management-apps-2x2/
It’s also helpful to be aware of the fact that money management/mobile banking apps will continue to evolve over time, and may vary from institution to institution. Choose an app that is relevant to your personal preferences and needs! Most importantly, don’t forget about online safety. Here are nine tips to keep you protected:
1. Use strong passwords for all your accounts.
2. Use security software.
3. Don’t modify your phone.
4. Report a lost or stolen device.
5. Only download apps from a trusted source.
6. Don’t open suspicious or unexpected attachments.
7. Keep Bluetooth turned off when conducting mobile banking activity.
8. Use secure networks.
9. Review your accounts on a daily basis.