Even with the end of 2021, many of us are still struggling to manage our money. And with an ongoing pandemic and recession, we surely have learned the importance of it. Your earnings might have fallen during the pandemic, and you have realized how chaotic your personal finances are.
Keep up to date with the latest lifestyle content through All About The Lifestyle. Nowadays, we use apps for everything from dating to pregnancy tracking. So why not use apps to manage our finances? There is no better time than 2022 to sort out your finances, and a personal finance app is one tool you’ll need the most.
These personal finance apps can help you to save money, and show you where exactly your money is going. They will also help you keep up with your credit score and investment portfolios. We are here with the 3 best personal finance apps of 2022.
Mint is continuously dominating the budgeting app market with over 200 million users and high ratings.
Mint offers a variety of features. After syncing your account, the app will automatically categorize your expenses into different categories such as Food, Utilities, Lifestyle, and Entertainment. Mint’s main purpose is to identify your spending patterns. You can review your spending habits for every category over a short or long time. This will be used by the App to generate a better budget.
As the app is free, you will see lots of Ads. Also, the app is known for being a little buggy sometimes.
Mint is for you if you do not have a clear understanding of your spending habits. If you are unsure about your budgeting and saving goals, try out Mint.
2. You Need a Budget
You Need a Budget is based around zero-based budgeting. The goal of zero-based budgeting is to plan every dollar you earn. It does not mean spending all your money. You have to choose whether your money goes to a savings account or any specific spending category.
You Need a Budget is not for a casual user, it has rather complex tools for a detailed budgeting. It is much more expensive than other budgeting apps, being $84 per year. But it also provides lots of educational resources to help you in your financial journey.
The aim of You Needs a Budget is to get you at least one month ahead of your finances so that you spend money you earned 30 days ago. If you’re working your way out of debt or are living paycheck-to-paycheck, You Need a Budget is the one for you.
3. Personal Capital
Personal Capital is mainly an investment app, but its free features are great for people who want to track their spending. You can link and monitor your credit card, savings, IRAs, mortgages, and loans.
The app provides you a spending snapshot by listing recent transactions by category. You can also change the categories and see how much you are spending monthly for each category.
It also offers a portfolio breakdown and a net worth tracker. But Personal Capital’s budgeting features are much more limited than other apps. That makes it unsuitable for people with only budgeting goals.
If you are an investor or unsure about how much to invest in different assets, try Personal Capital out.