Best Money Management and Investment Apps

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Best Money Management and Investment Apps
Stefan Ivanovic

Article by

Stefan Ivanovic

Jun 26, 2019

Use your tech for something really smart.

If you have problems with money saving, there are tools that can help you save money without much effort.

Through various savings applications, you can hide money for the rainy days, for your next major goal, and even for retirement.

People around the world are struggling with savings. Thus, at one last year's survey, 44 percent of Americans said they could not get up to $ 400 with savings.

The beginning of savings does not have to be very difficult, but staying persistent in saving is far more difficult. Therefore, even economic experts recommend the use of savings applications that, with the power of technology, help people to save money "on the side" effortlessly. If you think that's impossible, you might be able to try one ad application.

These applications are available for iPhone and Android devices, and we bring a list of some of the most popular:

1. Digit

2. SmartyPig

3. Qapital

4. Type Yourself

5. Stash

6. Acorns

7. Robinhood

8. Max My Interest

Digit

What if you could save money without thinking about it? Using Digit, many experts say you should.

After connecting your current account, Digit looks at your income and spending habits to analyze how much you can save each month. Digit will then transfer that money from your current account to your Digit account based on what you can safely afford.

Digit does not have a guarantee of overrun. This is one of the best applications for saving money because it saves all the time you spend thinking about how much it can save and everything works for you.

Digit is available for iPhone and Android devices and is free for the first hundred days. After that, Digita users pay $ 2.99 per month for the service.

"This is a great tool for saving for a trip or something fun. You'll surprise yourself as much as you can save in small steps, "says Christa Neeley, vice president of Appreciation Financial.

SmartyPig

SmartyPig is a free online piggy that allows customers to save and achieve their financial goals.

When you sign up for SmartyPig, you will be connected to external sources of funding, that is, a bank account.

Set the goal of savings and track your progress along that path. You can set some amounts to repeat or you can pay money to your SmartyPig account whenever you want.

SmartyPig is free and does not have any fees, and unlike Digit, you get interest on your savings. Currently, SmartyPig offers accounts with an annual interest rate of 1.05 to 1.15 percent. When it comes to savings accounts, these interest rates are higher than the average and can help you get a higher return on your saved money.

A mobile application is not available for SmartyPig, but transactions can be made on a website.

Qapital

If you look at money saving as a game, then Qapital is the right app for you.

This application allows users to save money based on their goals and set rules to make them a more streamlined process.

For example, if you want to save for a car or a trip, you set that goal in Qapital that starts savings for you.

Qapital has a number of rules, one of which is the Spend Less Rule which implies savings and that money you save at some of your favorite expenses.

Another rule that is quite fun helps to create a balance between spending and savings. You can set a rule that every time you enjoy spending, at the same time, you save.

There are also customizable rules that you can set up if you want something specific. If you are looking for apps that save money and "think" how to preserve each brand, Qapital is great for you.

Tip Yourself

When we go out for coffee or dinner, we often leave a tip for a good service. However, when we do a good job, we rarely pat ourselves on the back for a good job. One of the money saving applications that will change this is Tip Yourself.

The positive side of this application is that it connects each savings with rewards. In other words, you can cultivate positive habits with money savings.

After signing up for Tip Yourself, you connect the application to your current account and receive free savings tips. The app is free and available on iPhone and Android.

Stash

Investment is often difficult and many think they need a lot of money to start. The mobile application Stash proves that this is not true with the mission of making investment simple and affordable.

You can create an account through this application within two minutes and start investing. You must link the app to your current account to start investing.

This is one of the money saving applications that is focused on consumers who want to invest, but they may not have much money or do not know how to start. With a low minimum investment of just five dollars, you can start and become an investor by placing money in stock exchanges. Stash also offers an opportunity to invest in fractional shares of companies such as Amazon and Apple.

The application also has a Smart-Save feature that analyzes your current account and saves extra money that you can afford to invest.

It's important to note that the application is not free. Stash costs one dollar a month for accounts with a monthly accumulation of less than $ 5,000. For accounts over this amount, an interest rate of 0.25 percent per annum is charged. The application is available on iPhone and Android.

Acorns

In terms of money saving applications, Acorns specializes in micro-investment.

The way it works is to sign up and connect with your credit card. When you do, Acorns will automatically invest in "reserve money" by rounding up your purchases to the nearest dollar. Say, if you paid $ 3.45 for cappuccino, it would have rounded up and you would have put 55 cents.

Although it may not seem like a lot, everything can be summed up over time. To increase your investment, you can add a one-time contribution or set up a repetitive transaction.

When you set up an account, Acorns will ask you a few questions about your finances and propose funds that are traded on the stock exchange, and in which you could invest. The application is available on iPhone and Android.

Robinhood

Do you ever feel like investing is just meant for super-rich or for people who know it? Robinhood, one of the most popular applications for saving money in the market, created an investment application for those who do not feel wealthy.

Using Robinhood, you can quickly acquire a practical experience with investing on the stock market. The app is available on iPhone and Android and does not charge any fees for opening an account or buying shares.

Through the app you can track your favorite stocks and find out more about the new ones. In addition, the application has personalized feed so you can track everything in one place.

Max My Interest

The last, but not the least is Max My Interest application that is focused on super savings.

This application helps you allocate money through more secured accounts, while staying under the security limit of $ 250,000 for any single account.

The application automatically runs your money at the best possible rate among a range of high-paying savings accounts.

The membership fee amounts to eight base points per year (two basis points per quarter) on cash that is linked to online savings accounts.

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