Personal Finance Apps Roundup: Top 5 Tools for Budgeting, Saving, and Investing

Personal Finance Apps that help users conserve money are rapidly gaining popularity as a viable alternative to keeping detailed monthly financial records by hand. Improve your financial well-being with these tools.

By Mystic Vivan
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Personal Finance Apps Roundup: Top 5 Tools for Budgeting, Saving, and Investing
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Today's equivalent of a coin bucket is a roundup app. Regarding the less experienced younger readers: A lot of people used to save their extra change by just dropping it into a jar. You could avoid having your pockets jingle, keep track of the money without losing it, and then cash it all in at the bank or a coin machine when the jar was full. If you weren't already strapped for cash, you could treat yourself to a night out on the town or maybe even buy a new pair of shoes with this "fun" cash. 


However, as more and more individuals choose more convenient ways of payment like credit cards, debit cards, and money apps, the usage of cash is steadily declining. The use of plastic and electronic payment methods is growing... jingling pockets are no longer needed. Just because spending has changed its name to the "roundup" doesn't suggest that "spare change" has disappeared entirely. In this article, we will go over the basics of how these function, and then we will examine the top roundup applications that you can use as a virtual money box.

What Are Roundups?

The roundup feature rounds your purchase costs to the closest dollar. The reason this is so common in supermarkets and other businesses is because it sounds familiar. If you want to round up your total, for example, to give to charity, the cashier will invite you to do so. However, in this kind of situation, a financial app will automatically add the amount you've spent to your savings or invest the "spare change" on your behalf.


How Do Roundups Work?

Let's pretend you decide to have breakfast on the way to work. The total cost for a piece of food and tea is $9.69. After you pay the $9.69 using a standard debit, credit, or money app, the purchase is complete. But imagine for a second that you own a card or app that has a roundup function. 

An alternative would be to charge your card $10 and then put the remaining 31 cents into a rainy-day fund, similar to a savings or investment account. The procedure is so smooth that saving becomes automatic when you use the card or app to make a transaction. But which app is the most effective?


Top 5 Tools for Budgeting, Saving, and Investing

1. Mint

Popular budgeting program Mint gives you an up-close view of your money position. It keeps tabs on your spending habits, sorts your transactions automatically, and gives you specific insights to help you manage your money better. Mint makes it easy to manage your money by letting you make budgets, set financial objectives, and set up bill payment notifications.


2. YNAB (You Need a Budget)

It is an innovative budgeting tool that prioritizes assigning particular duties to each dollar. To make sure that every penny goes where it should, it suggests that users divide their income into multiple parts, such as food, utilities, and savings. If you want to learn good money habits and be financially stable in the long run, YNAB has you covered with training materials and live meetings.

3. Acorns


Users may save and invest their spare change with the help of this micro-investing program. It will invest the difference in a diverse portfolio of exchange-traded funds (ETFs) and round up your purchases to the closest dollar automatically. Acorns makes it simple to start creating wealth with little, regular contributions with features like recurring investing, retirement accounts, and Found Money prizes.

4. PocketGuard

It integrates with your financial accounts in an update, so you can see your money status as it is right now. To further ensure that consumers maximize their income, PocketGuard also assists in discovering methods to save money on subscriptions and bills.


5. Stash

The goal of the investment app Stash is to level the playing field so that anybody may invest, regardless of their level of financial literacy. Stocks, exchange-traded funds (ETFs), and fractional shares are just a few of the investing alternatives available, giving consumers the ability to create a diverse portfolio that reflects their own beliefs and financial goals. Users may build their confidence as investors with the aid of Stash's instructional material and customized mentoring.

Wrapping It Up

Apps that help users conserve money are rapidly gaining popularity as a viable alternative to keeping detailed monthly financial records by hand. Pick a savings solution that fits your needs. You may use it to accomplish both your immediate and distant financial objectives in this manner.

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