Thanks to the modern wonder that is a smartphone and the endless litany of apps ready to download, it’s never been easier to take charge of your finances. While you wait for your Starbucks order, you can track just how much your daily Frappuccino habit is costing you. As you commute to work, you can Venmo your BFF the money you owe her for brunch. And when you pick up the latest Vogue, you can round up the amount to the nearest dollar and deposit the extra change in an investment account. How? Check out the personal finance apps below for a handy guide to managing your money while on the go.
For investing: Acorn
If you want to make investing as easy and effortless as possible, download the Acorn app, stat. Once you connect your bank accounts to the app, Acorn rounds up every purchase to the next dollar. Then, Acorn invests said spare change into in one of five portfolios. (You choose the best portfolio for you during setup; the portfolios are categorized according to risk.) Then, you just sit back and watch your spare change grow.
For managing credit: Credit Karma
You already know your credit score can have a significant impact on your financial future. That’s why Credit Karma is a very handy little app. Not only does Credit Karma offer free credit scores and reports, but it also allows users to monitor their spending patterns. The app then uses the data it has assembled from these patterns to recommend credit cards and loans that will help you improve your finances and credit score.
For saving: Digit
If you’re terrible at saving money, make sure you download Digit. Once you link your bank accounts to Digit, the app will scan you spending patterns and use that data to figure out what you can afford to save. Then, it transfers that amount of money into a separate Digit account. Worth noting: You won’t earn interest on the money, but you can, of course, withdraw the money at any time and deposit it into a savings account that does pay interest.
For budgeting: Mint
Mint is the perfect app for anyone who wants a real-time, thorough look at their finances. You can link it to all your bank accounts, credit cards, loans – even your 401k. Your net worth is right at your fingertips. And best of all, Mint automatically tracks your spending and alerts you if you’re about to go over budget. Thanks to its intuitive and easy-to-use interface, Mint is one of the most popular finance apps around.
For paying: Venmo
It can be super awkward asking a friend for money they owe you – or worse: when you are that friend. Luckily, that’s where Venmo has saved the day. The app lets you quickly and effortlessly pay your friends and family the money you owe them. Need to split the bill? Easy. Going halves on a wedding gift? Super simple. You can link multiple bank accounts or even keep money within the app.