This article will provide you with 10 tools to help you manage your money. With lots of expenses to cover, it could be difficult for you to manage your money.
Luckily, there are so many available tools that can help you with budgeting, investing and even credit score monitoring.
10 Tools to Help You Manage Your Money
With these tools, you’ll be able to understand your finances and take control of your spending to meet your financial goals. These tools will help you attain a solid financial future.
Below are some free tools that can help you effectively manage your money
Mint
Mint is a free app designed for budgeters. You can connect your account to Mint to track your budget and investment accounts. Furthermore, you can also create saving goals with Mint.
One amazing feature of this app is that it offers bill and subscription trackers, and resources to monitor your credit score.
Personal Capital
This is a free tool with features that can help you to grow your wealth. The tool lets you track your income, spending, bank accounts, home values, credit cards, and investment accounts. This tool is focused on long-term planning. So, you can even use it to create your retirement investment plan.
Goodbudget
This free tool is another amazing one that works well for budgeting. It offers features that could help you to pay down debt and set saving goals.
Furthermore, if you are new to budgeting, Goodbudget offers a boot camp to guide you in managing money. The boot camp covers everything from saving, to emergency funds, budgeting as a couple, to buying a home. This app works on mobile devices, thereby enabling users to monitor their money across devices.
SmartyPig.com
This is another free tool with amazing features that can help you effectively manage your money. SmartyPig is an online piggy bank for saving. It is designed for people who want to save for financial goals like vacations, holiday gifts, college, and retirement.
On SmartyPig.com, you can set up a variety of savings accounts, create saving goals, and track your progress to meet your financial goals.
With SmartyPig, it’s very easy to save. All you need to do is decide how much you and how often you want to contribute. Thereafter, SmartyPig will do the rest, from monthly contributions, to direct deposit from your paycheck.
Trim
Trim is a tool designed to help its users save money effectively. Creating an account with Trim is free. With this app, you’ll be able to take control of your spending and save more money. That’s because Trim offers features that can help you lower monthly payments and provides you with strategies on how you can save more.
Credit Sesame
Maintaining good credit is essential if you want to get the best interest rates on credit cards and loans. However, how do you achieve that? Credit Sesame is a free tool that you can also use to manage your credit. This tool gives you instant access to your credit score and recommendations to improve your credit score.
This tool also offers free credit monitoring alerts that can help you to protect your credit score. Furthermore, with this tool, you can also grow your credit score with debit purchases using the credit builder.
Credit.com
Credit.com is a free tool that you can also use to monitor and manage your credit. It allows you to check your credit score for free and also helps you understand the factors that influence your score. This tool also provides recommendations and step-by-step action plans to improve your credit.
In addition to this, you’ll also be enlightened on how you can improve your credit to make the most of your financial opportunities.
BudgetPulse.com
BudgetPulse.com is free software for managing your finances. It enables you to organize your cash flow, expenses, and bank accounts in one place. Furthermore, the charts and graphs on this tool are easy to understand and they enable you to see how you are spending each month.
BudegtPulse also makes it easy for you to achieve your financial goals. You can set goals with this tool and even share them with friends and family to make it easier to achieve your goals. This tool also has features to track finances in several currencies, making it a good one for travellers and foreigners.
Twine
Twine is a mobile that gives you access to a savings and investment account so that you can work towards your financial goals. With Twine, you can connect your individual accounts to the app and set up automatic recurring contributions to save or invest.
Credible.com
This free tool can help you save money on student loans, personal loans, and your mortgage. It enables you to compare top lenders to get the best rates. This tool has features that can help you save more money effectively.
FAQs
What is the 50/30/20 Rule?
The 50/30/20 is a common rule used in budgeting. It states that your after-tax income should be split into 50% for needs and obligations. Meanwhile, the remaining 50% should be split into 30% for wants and 20% for savings and debt repayment.
What is the Best Free App to Manage Money?
Some of the best apps that can help you to manage your money well are
- Mint.
- You Need a Budget (YNAB).
- Personal Capital.
- PocketGuard.
- Honeydue.
Are Free Budgeting Apps Safe?
Budgeting tracking apps are considered safe from cybercriminals. Also, they do not sell your personal information to third parties. So, you can be guaranteed that your details will be kept confidential.
How Should a Beginner Start Budgeting?
As a beginner, below are some steps that can help you create and stick to a budget
- Calculate your net income.
- Track your spending.
- Set realistic goals.
- Make a plan.
- Adjust your spending to stick to the budget.
- Review your budget regularly.
What are the Things That You Should Include in Your Budget?
When creating a budget, some important things that you should include to it are your income, savings, debt repayment, and general expenses.
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