Ever heard the phrase, “Money saved is money earned”? Well, it’s true; and if you want to save money, you are not alone.
Whether you are an entrepreneur, an intrapreneur, a homemaker, or a student, saving money is always attractive. However, keeping track of your expenses can be difficult in today’s fast-paced life. There is so much to take care of on the professional and personal front, and at times, finance can quickly get out of hand.
If you are keen on getting things fixed and saving money, here are 5 apps you must have.
Buying groceries and other household purchases is an expense that no one can avoid. However, with this app, you can get cash back for many of your purchases, both in-store and online. Ibotta has partnered with around 2,000 retailers and covers groceries, entertainment, eating out, pet supplies, clothing, and more.
You can earn cash in three ways:
For Online Purchases:
- Shop through the app or with the Ibotta browser extension.
For Retail Shopping:
- After you have shopped at your retail store, add offers and submit your receipt.
- Through the Ibotta app, purchase a retailer gift card or link your retailer loyalty accounts to the app.
Also, every time you complete a task (like watching a video, taking a poll, or sharing on Facebook), cash is added to your account, which you can access when you make a purchase.
When you make a verified purchase, the money will be directly transferred to your bank account, sent to your PayPal account, or turned into gift cards.
2. You Need A Budget
You Need A Budget (YNAB) is an app designed specifically to help you gain control over your money. The app gathers all the information from different portals into one central view. So, all data from your bank accounts, loan balances, and credit cards are in one place, so you can start budgeting without getting overwhelmed.
Also, budgeting is not restrictive. It is custom-made according to your preferences, so you can design your budget without feeling guilty. The app also helps you align your money with your goals. So, whether you want a car or a house, simply set the target and watch the balance fill up.
You can start with the app’s free trial and budget using their proven method (a 4-step method—give every dollar a job). If you find the app useful, you can continue using it.
Acorns is an investment app that helps you save money and invest spare change. It rounds up purchases made on the debit and credit cards linked to the app. It transfers the difference to the Acorns account for saving and investment. This way, your money can work toward your financial goals.
The app offers diversified portfolios, so you can decide whether you want to invest in a conservative or aggressive fund, round-ups, recurring investments, and more. The app started as a micro-investing platform, but with its high growth and significant expansion, it now offers five products.
Also, the app is ideal for people who want to learn about financing, budgeting, and more. It runs a literacy program that helps its users learn about the various aspects of money management.
With 30 million users, Mint is the most downloaded personal finance app. The app links all your accounts so you can keep track of all your financial activity. It also tracks your expenses, recognizes your spending patterns, and curates a budget for you.
This helps you fulfill all your obligations and save for emergencies, retirements, and more. With reminders for upcoming bills and due dates, the app also enables you to stay on top of your bills, so you don’t have to spend extra on penalties and late fees.
Chime is a mobile banking app that offers a spending account and a Visa debit card. With these, you can safely deposit funds, learn about your transactions, and track where you are spending the most.
It also has another feature—an optional high-yield savings account. It controls the savings at two points—save when you get paid and save when you spend.
In the case of “save when you get paid”, the app automatically sets aside a part (10%) of the credited amount in Chime. It transfers this to your Chime’s savings account, which offers 1.50% APY.
With “save when you spend,” Chime rounds up the purchases you made with the Chime Credit card, and it transfers the difference to your savings account.
Apart from the above features, Chime has a host of other features that make banking very convenient.
Saving money is a difficult task—one that people don’t master easily. However, with the help of financing, budgeting, and cashback apps, you can get closer to your goal.
We hope the top 5 must-have smartphone apps we have listed will help you save a ton of money.