5 Apps to Help You Save Money
If you’re ready to improve your financial health, look no further than your phone. There are some great apps that you can use to get involved in the stock market, find insights into your earnings and spending habits, learn about and maintain financially smarter lifestyle changes, and even to force you to save money! As a Director of Finance with over 25+ years of experience in similar roles, Michael Stummer is breaking down the best apps to help your bank account grow:
Meet Your Savings Goals with Plum
Plum takes an innovative approach to savings. Instead of setting up goal milestones and sending you push notifications about reaching them, the developers of Plum created a full-fledged chatbot that you can communicate within real-time about your finances. You connect with Plum over Facebook, and once you give it access to your bank account, it will begin analyzing your financial habits and moving small amounts of money over to savings every few days. “The idea here is that you end up saving money without really realizing it since Plum tries to match its saving habits to your lifestyle” explains Michael Stummer.
Get a Personalized Budget with Mint
Mint is a powerful app that’s largely hands-off. Once you hook it up to your bank account, it does all the hard work for you, keeping a record of your financial activity, spotting patterns in your spending behavior, and reminding you about bills that you need to pay. “These analyses can give you some great insights into your spending habits,” says Michael Stummer, “and Mint will even make you personalized graphs to keep things simple.” It’s a great and accessible way to keep an eye on your financial health — and it’s free!
Start Couponing with SnipSnap
It’s easy to get overwhelmed by traditional paper-and-pen couponing, but with SnipSnap, you can streamline the process. This app lets you search for coupons from major stores and retailers and collect them with the click of a button. It will even display items nearby that have coupons available. Once you’re ready to use them, you can just show the cashiers a barcode to scan or they can enter a code manually. It’s a great way to save a few bucks, so give SnipSnap a try and bring your couponing game into the twenty-first century!
Hop on the Automated-Investing Bandwagon with Acorns
For the more investment-minded people, Acorns is a great choice. If you choose to use its round-up feature, Acorns will round all of your purchases up to the nearest dollar and invest the difference. It then automatically invests that money for you. The beauty here is Acorns’ simplicity. It does all of the heavy lifting for you by making smart investments based on the level of risk that you’re comfortable with and how long you want to invest your money for.
Put Money Aside for What Matters with Squirrel
If you’re always worried that you won’t be able to pay the bills, then Squirrel is for you. After you give the app permission to access your salary, Squirrel will automatically save enough to cover your “commitment” payments, which are made up of your recurring bills, and only release the committed funds into your account a day before they’re due. That means you don’t have to worry about spending bill money or thinking you have more money than you really do. You can also customize different savings goals so you can finally take that vacation!