Finance apps are not used as efficiently by people these days. However, the reality is that people need to utilize them now more than ever. Why? Because the whole world is dealing with record-high inflation and if you are not up to date with your savings plan – you are in trouble. This is why it’s important to incorporate these 5 financing apps into your life so you can work towards improving your quality of life.
Note: the apps are listed in no particular order
1. Qapital
You know how our grandparents used to quote the phrase “every penny counts.” The Qapital app takes this phrase into context and builds a whole system that saves small amounts of money in your bank account – but with a twist. So, every time you spend a particular amount on one of your guilty pleasures – for example, a takeout meal. The app takes some money out of your bank account and stashes it into your savings account.
On top of this, one of the most amazing things about Qapital is that it will even save your spare change and stash it into your savings account for you (like a digital piggy bank). For example, you buy a sandwich for $2.50. The application will take the remaining $.50 from your account and launch them into your savings. It is because those $.50 will not count as much for you right now. But when the application will make several of these transactions, it can build up to a great deal over time. This makes it one of the worth trying finance apps
2. Chime
The way the Chime application works is that whenever you get a bank deposit of your salary, the application will make a direct deposit to your Chime account and move a certain percentage of that income into your savings account automatically. Chime is not a bank itself. It is like a corporation that will hold your deposits and help you earn some interest on your savings.
The best thing about this application is that it is absolutely free to use. Similarly, it is excellent for people who want to save their money outside of their bank account. So basically, a finance app will take care of your monthly savings for you.
3. Current
Most finance apps use a blanket approach to saving money. However current is an application that will help you save money for particular goals. For example, if you want to buy a car or go on a vacation, you can create a specific pod (a term that the app uses for particular accounts) for it and pull money into your savings pod every now and then.
It is a great way to indulge younger adults in a habit of saving money. It will help them visualize goals and build towards them. Current also allows its customers to have a free basic checking account where they can access financial health tools through a mobile application.
3. Mint
Mint is one of the best finance apps that will help people who have multiple accounts in different banks. The application will organize and monitor all your accounts from a single place. You will be able to connect different credit card accounts and bank accounts in one place and manage your loans in investments from the same program.
The Mint application will provide you with a complete financial portrait that allows you to see the bigger picture of your finances. On top of this, the application will also allow people to create custom budgets for different programs. For example, you can monitor different businesses from a single application rather than wasting precious time jumping from one application to another.
4. Digit
If you’re looking for finance apps that will help you analyze your credit and debit, then digit is going to be your best bet. Once you get a digital subscription, you will be able to access the auto-saving feature. It will help you pay down your credit card debt and establish saving goals for you. On top of this, the digit application will also allow its customers to get a 0.1% annual saving bonus.
The money saved by the digit application is secured at an FDIC-protected bank. Therefore, you will be protected for up to $250,000. It is the best application for people who like to outsource their savings decisions.
Due to inflation these days, even a teenager knows how crucial it is to save money. It is because when you have a certain amount saved for a rainy day, it will give you peace of mind and help you elevate your quality of life. However, we all know that saving money in your own bank account is not for anyone. Therefore, these five finance apps will help you automate your savings.
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