Top money management apps you should use

Managing money sticking to a budget, and handling investment decisions are easier than ever with digital tools and apps at your fingertips. So, what are the top financial mobile apps available? While there’s no “one size fits all” app, learning what the different types of financial apps offers are is key to finding the right ones to manage your money. It can help your personal growth to learn about the various categories and types of money management apps and what they can offer you. From monitoring your accounts and tracking your spending to checking your credit score and investing, there’s a personal finance app on the market to meet your needs.

A strong budgeting app will give you a good overall view of your financial situation. You can get rid of your old Excel spreadsheet, as most apps can connect to your various online banking accounts — like banking, credit cards, investments, life insurance, etc. Tracking your spending habits is a huge aspect of budgeting, so you’ll want to choose an app that’s automated and easy to use. While using the app, you can apply the 50/30/20 rule digitally this time.

For people with goals such as buying a house, saving for college, or socking away money for retirement, an app is a great way to stay on track. It can provide a quick, at-a-glance, real-time look at your expenses and bank account balances. If you’re planning a vacation or buying a home, you’ll want to stay organized and on top of your money — a good savings app or savings tracker will do that for you. Instead of opening multiple savings accounts, an app allows you to have a single one, and break out the amounts into as many financial goals as you desire.

Monitoring your credit score plays an important role in your financial health. You may need to keep on top of your credit to take out a car loan or get a mortgage. So downloading an app to monitor your credit score and activity is a good way to stay informed. Be sure to research and read reviews on any credit monitoring service before providing your personal (or billing) information. There are many apps, subscriptions, and websites out there that are misleading and costly. You will want an app that makes monitoring your credit simple. Some aspects of the tool will be breaking down balances, tracking your score, and responding to alerts to pay down your credit card each month.

Being able to deposit a check without standing in line or make other simple transactions can free up time in your day. Almost every bank has an app these days, so be sure to open an account with a bank that has an app that is easy to use, clear and highly rated. For more in-depth banking needs or to speak with a banker, you can always go into a branch, but mobile banking apps are a primary resource to manage your accounts and keep track of your finances.

By turning on notifications in your bank’s app, you’ll be able to detect fraudulent charges and financial errors more quickly. Seeing purchases in real time will help you spot any unknown charges immediately. If you lose your debit card or credit card, no worries. You can often turn a debit or credit card on and off in your bank’s app or set up a new card without even calling customer service or visiting a bank branch.

It’s important to make choices based on your own unique financial situation. Remember, the most popular app may not fit all your needs. But by choosing the tools that are right for you, you can easily attain a better understanding and awareness of your finances. Check out what we have to offer with our Citizens mobile banking app* and get started simplifying your life today.