The Top 05 Money Management Apps for Growing Your Net Worth

 Times are tough. Whether you earn a lot or just get by, watching where your money goes is important. There are lots of ways to watch your spending, investments, and more. But since you probably have a cell phone in your pocket all the time, apps are a great option.

Understanding your cash flow is a major part of successfully managing your finances. How much is coming in, when it hits your bank account, and where it’s going are all important aspects of financial success.

Luckily, the market is saturated with money management apps designed to help you see your bank balance, track your spending, and analyze your habits. Plus, there are also apps that will help you make better financial decisions, based on the data gathered from your accounts.

And the best part? You can access your financial situation wherever you go. Many money management apps are viewable online, as well as on your mobile device, making it easy to take care of your finances no matter where you are.

Here are 05 of the best money management apps you should consider:

1. Personal Capital

Personal Capital is one of the best money management apps available. It’s lets you track your budget while including information about your investment accounts. The interface is intuitive and the visuals are easy to see on desktop, laptop, tablet, or phone.

Graphs of your investments by asset class, investment account, or individual investment are easy to read, making it easy to track your investment performance and manage your portfolio. You can even get help from an investment professional in some cases.

Personal Capital’s budgeting functions aren’t quite as robust or intuitive as some of the other money management tools, but they get the job done. The main advantage to Personal Capital is the fact that your investments are considered in the equation, giving you a holistic view of your total financial picture.

2. Empower

Empower combines budgeting with accumulating savings. Empower connects to your other financial accounts, tracking the activity to give you better control over your cash flow. You can set weekly and monthly spending limits for different categories of your life and Empower will notify you on how you’re tracking. You can also save effortlessly through their Auto Save feature. Just set a weekly savings target and the app will automatically move extra funds–when available–into savings.

Beyond budgeting, Empower will also look for savings in your spending patterns. Empower will provide a snapshot of your subscriptions and help you cancel any you no longer use.

There are other ways that Empower can help you save money.

When you deposit your paycheck to Empower, you’ll get the ability to access your paycheck up to two days faster* and accept Cash Advances of up to $250.^ There are no interest charges or late fees for these Cash Advances. Empower will deduct the amount it advances from your next paycheck to settle up.

You can also earn up to 10% cash back* when you use the Empower Card to shop at select retailers, meaning you can save money on some purchases.

You can think of it as a tool to help you get better control of your budget, while also continuing to move at least some money into emergency savings for future use.

Visit Empower  or Learn more in our full Empower Review

3. YNAB

YNAB (You Need a Budget) will cost you $6.99 per month, but the first month’s fee is waived, and the company claims that new budgeters save $200 in their first month. Even if you don’t save quite that much with the help of YNAB, the app can still be worth the monthly fee.

The philosophy underlying YNAB is “a job for every dollar.” You’re encouraged to place a premium on thinking ahead and determining where your money goes ahead of time, from investing to saving up for a vacation to paying the bills to buying groceries.

Like many other money management apps, YNAB offers bank syncing and support for mobile devices. You can also use YNAB to help you set financial goals and make the most of each dollar you earn.

Visit YNAB or read the full review here. 

4. Acorns

Acorns takes your “spare” change out of your account. But instead of saving it, Acorns invests the difference. The app allows you to start investing with virtually no effort. You just set it up and get going.

You can use Acorns just to round up your transactions, but you can also set up recurring withdrawals to your account, or boost your account with a one-time transaction. Acorns also has a new shopping app type function, called Acorns Earn. When you shop with certain brands, the brand partners will automatically invest in your Acorns account. Check out our review of the app here.

5. Mint.com

Mint has long been a popular budgeting website and app, and not without reason. Like Personal Capital, Mint offers access to your investment accounts in addition to budgeting tools. But for Mint, the budgeting portion is the stronger offering, while the investing section feels a little like an afterthought.

Mint is a great option if you want to keep a super detailed budget. You can create as many budget categories as you want, and you can categorize transactions on the go. Mint automatically pulls transactions in from your bank accounts and credit cards, so they’re all in one place. Mint also analyzes your spending and provides insights into your habits, letting you see where you could improve.

Finally, the app also has a nice bill pay feature reminding you when bills are due. You can even pay bills from the app.

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