Ben Todd | Apr 16, 2017 | 3
10 Apps That Will Improve Your Net Worth
Nobody is going to hand you money for nothing unless you are a young and beautiful woman walking around a retirement home for very rich and competitive old men. There is no such thing as an app that is going to give you money or an app that is going to improve your net worth. We feature apps that will help you improve your net worth if you are willing to use them as tools or use them to learn. There are ten apps listed below that range from money-transfer apps, to saving apps, to budgeting apps, to investing apps. Using one or more of these apps may help improve your net worth if you use them correctly and/or if you learn while you use them.
With their easy-to-understand graphs and charts, you may watch and monitor your income and outgoings. You may also check up on your investments, your investments performance, and your personal finances. Tracking your assets is made easier by the Personal Capital app because you may track them via asset class, by account, or by individual security. You may also see how your current investments portfolio compares to major indices. There is also a 401K analyzer that may help you make important judgments about its current and future health.
The Mint app may be used by people in Canada and in the USA. The app allows you to see your bank balances in real time if you are connected to the Internet, and it will categorize your transactions into budget categories that makes managing your money a little easier. You may set up alerts, set up a budget, and opt-in to mobile notifications (push notifications) regarding your bills. Using your Mint budgets, you may also set up financial forecasts.
You may know the app as BillGuard because that is what it used to be called. The app is a personal-finance security service that allow you to track how much you are spending. It allows you to see your balances and your most recent transactions. If there are any suspicious transactions, you may set up alerts that contact you when they occur. If you experience a data breach, the Prosper Daily app may also tell or warn you about them.
The app looks and feels a little more like a game than the other apps in this article. You have to pick a goal, set your terms and rules, and then track your progress. If you engage with the app and use it, then you may achieve your goal. One way that they have made the app more engaging is the chat function where you may share your goals and your progress with other people. The app also reminds you that you have a financial goal, and it insists that you set up a savings account in which to put your goal-related money.
The PayPal service is a digital wallet that primarily allows you to buy things without giving the retailer your credit card or debit card details. It is a relatively safe tool for shopping online. The PayPal app gives you access to many of the functions that the website version offers. You may transfer money, you may receive money, and you may convert money. The app allows you to see recent transactions and is most suitable for heavy PayPal users who frequently need to check their balance.
Insert your information and your budget, and the app will tell you what you can afford each day. It offers a guide on what you may spend from one day to the next. It gives you a daily spending allowance and allows you to track how much you spend. If you are able to stay within the budget you set, then the app details how much you may now put away to save. Level Money is the sort of app you may use if you are not accustomed to having a budget and you are looking for a way to get your immediate finances on track.
Create a budget and then use it. After a while, if your budget is not working, you may re-examine it using the Budget Boss app. The more you use the app, the more it helps you analyze the effectiveness of your budget. As you spend time adjusting your budget, you also learn how to make it more suitable and ergo you are able to make better financial decisions. A big part of the Budget Boss app is its simplicity, which means you do not have to invest a lot of time into your budget process, though it does require you to come back and adjust your budget when your previous budget attempts have fallen through.
Get started investing with the Stash Invest app. It is advisable that you do your investing with a PC or laptop where you are able to fully research your investments prior to putting your money into it. However, if you are simply dabbling with the idea of investing, or you want to try it on for size, then this app may help you take the first steps towards becoming an investor. You only need as little as $5 to start, it is very easy to use, and it is laid out in a very simple way. Don’t forget that there is still a risk and that your money may be lost if your investment goes sour.
Send and receive money to and from your accounts and between your friends. The services it offers are basic, but provide useful functions for people wishing to transfer money to and from accounts. The app relies on social media in order to allow you to send and receive money to and from your friends. It is also possible to broadcast what you have sent or what you have received over social media networks. It is a suitable mobile payments system for simple transactions.
There is a free option and a paid-per-month service that gives you access to financial advice. Though it is probably not smart to pay an app for financial advice, there are some people who benefit from the free services. You may create budgets and forecasts with the app, and you may learn a little bit around how to maintain and manage your money while using the app. There is a financial literacy library that allows you to educate yourself on how to manage your money.
Conclusion – Investing, Saving, Budgeting, Managing And Transferring
Use apps that allow you to measure the health of your current investments in order to check up on your investments and to keep your investments at the front of your mind.
Use investing apps as either a way of checking up on your investments, or as a way of dipping your toe into the world of investing. Always start small when you first start investing.
Use savings apps in order to make saving more easily, and to create a slightly more passive and easy-to-manage method of saving. Even small amounts will accumulate very quickly if you save them frequently.
Use budgeting apps on your phone to help keep your budget at the front of your mind, and use the convenience of your phone to keep your budgets up to date and relevant.
Use money-management apps as a way of controlling where your money goes, and maybe as a way of slowing your spending. Checking on your finances with such apps may also help you identify money theft of misuse.
Use transferring apps as a convenient way of moving money around your accounts, and/or as a convenient and quick way of getting or receiving money from friends.