FinTech Apps for College Students (Part 2)

In Part 1 of this series, we covered some FinTech apps that we believe College Students should have on their radar. From Personal Financial Management (PFMs), to Automated Wealth Management, Trading and Cryptocurrencies, the spectrum of FinTech applications is broad. In Part 2, we doubled down on our Wealth Management/Personal Finance Management apps as this is an area all college students can benefit from.

Stash (Wealth Management)

https://www.stashinvest.com/

• Stash is a registered financial advisor and investment platform. Using the app, users can invest as little as $5 in over 30 different investment options and receive personalized guidance. It also allows you to buy fractional shares, so you can invest what you can afford. It’s also amazingly simple to use, but you can see a demo of the app here.

Stash’s API, demonstrating a few of the features and value adds of the app

• Why use Stash? Well, there are two main reasons. The first being that it allows most people to become investors using just $5, a checking account, and a mobile phone. The arguably more valuable use of Stash for students is it’s educational component. Stash doesn’t just provide a platform for new investors, it teaches them how to invest themselves. For college students interested in finance, or maybe just looking to demystify how investments work, Stash is a great place to start.

Clarity Money (Personal Finance)

https://claritymoney.com/

• Clarity money uses artificial intelligence (AI), machine learning and data science to help users better manage their money. Clarity money can help you by finding discounts/coupons you’re entitled to, canceling subscriptions you never use, or keeping you on budget by making sure you don’t overspend.

A screenshot of Clarity’s iOS app, which gives you information around how much money you’re saving and spending in an easy to understand way

• With Clarity, users can better understand their spending behavior and take steps to improve them, saving them a ton of money in the long run. In a way, Clarity acts as your personal financial advisor, helping you find ways to save and prevents overspending. Though it’s only available on IOS right now, the team is currently working on releasing an Android version. And with more money, comes more late night snacks.

Qapital (Personal Finance)

https://www.qapital.com/

• Qapital is reinventing the way we save by making it fun and personable. Usually, saving money is not a fun thing to do (especially the way traditional saving accounts do it). Qapital allows their customers to set personalized and tangible goals in order to make saving money less monotonous. You can learn more about Qapital’s features and how they differ from traditional banks here.

Step by step instructions on how you can get started with Qapital (yes it’s that easy!)

• By allowing users’ to set personalized goals, Qapital makes saving effortless and fun. This platform can be especially helpful for college students. With customizable rules, saving for your goals can be as much fun as reaching them. Students can use Qapital to reward themselves for good behavior, to deter bad habits, or to just turn silliness into savings.
• With Qapital, you can:

Save everytime you check something off your to-do list

Save everytime you go to the gym

Save everytime Trump tweets

Save when it rains

Save whenever Michigan scores a touchdown

Save for getting a solid 8 hours sleep (will it ever happen?)

• Qapital is the perfect way to motivate yourself to save more, in exchange for your own reward at the end.

An example of a how Qapital can help you reach your goals of surf camp

Digit (Personal Finance)

https://digit.co/

• Digit is a simple, easy way to save your money. It calculates the perfect amount of money to save each day (based on your income and spending), and then saves it for you. By saving a tiny amount over a period of time, users find that there are large savings in the long run. It also does so by offering high level security and unlimited withdrawals whenever you want.

An example of the information Digit can provide for you and the savings

• Digit is a good way to passively save your money. Most times, you’ll hardly notice that the system is saving your money. Though cliche, a little eventually adds up to a lot, allowing for huge savings. Expenses always come up randomly though (especially for students). With Digit, you can withdraw your savings at any time, if you’re ever in the need of your funds fast.

Digit makes it easy to see how much money you have and to move money between accounts

That about wraps it up for this series. We hope these articles have spurred some sort of interest on your part to learn more about this exciting space!