Keeping on top of your finances can be a lot easier said than done. After all, temptation lives everywhere, making it all too easy to be suckered in by a good sale, a huge saving opportunity or simply that Starbucks you didn’t really need but bought anyway.
However, thanks to the rise of technology over the years, there are now a number of apps available to make it a lot easier to keep on top of your incomings and outgoings.
From apps that use your spare pennies to create investment opportunities to others which use complex algorithms to work out how much you can save each month to others that allow you to keep on top of your various pension plans, it’s safe to say that the days of needing to use coin-based piggybanks are no more.
So, with this in mind, join us as we run through some of the best apps to manage your finances with, while highlighting some of the key benefits to each one.
An all-in-one app that, once all synced up, provides a real-time overview of how your finances currently are, Emma is the ultimate money management app there is.
If, for example, you have multiple bank accounts and find it frustrating having to click into each one to see your recent transactions, Emma pulls all your accounts into one place.
This, in turn, enables you to see all your subscriptions, direct debits and transactions in one go, making it easier to keep on track of your outgoings and cancel any subscriptions you no longer need or weren’t aware you still had running.
Microsoft Excel/Google Sheets
If you’ve ever used Microsoft Excel, then you’ll basically have also used Google Sheets.
Both of these spreadsheet-based systems make it easy for you to keep a regular overview of where your finances are at, using clever formulas to help you work out how much you’re spending habits have changed over a set period of time.
They are also particularly useful for working out the costs when it comes to life event planning. Whether it be for a wedding, a holiday or a big birthday party, spreadsheets may be old-fashioned in their way of working but they are also a sure-fire method for payment planning.
If you are somebody who wants to learn how to save or invest more money, but aren’t sure where to start, Plum is the app for you.
Using a combination of artificial intelligence and a money-saving algorithm you have complete control over, once you have provided Plum with access to your account, it will then work out how much you can realistically save for you each month.
From here, it will then automatically make savings each month on your behalf, which you can then choose whether to invest in low, medium or high-risk ventures, or simply keep as an easy-to-access saving fund should you need it.
Having a good credit score is important for a lot of reasons. Whether it be buying a house, financing a car, being approved for a loan or getting a credit card, the better your credit score is, the more you will be able to enjoy your life without worrying about financial rejection.
Therefore, apps like the Experian credit score checker are an absolute godsend for keeping on top of your credit score, helping ensure you maintain a strong credit rating when you come to needing to borrow money down the line.
While the recent coronavirus pandemic may have put your travel plans on hold for a little while now, when the world finally opens up again, Monzo is the app you’ll need to have.
This is because the app not only offers a brilliant way of seeing all your transactions quickly and easily, but it also offers a feature that makes it incredibly easy to split payments with other Monzo users.
As such, there’ll be no need to bicker over who owes what on meals out – thanks to Monzo, you can simply add the payments you want to split, select who with and the app works out the rest.
What’s more, Monzo also passes on the Mastercard exchange rate, meaning you won’t need to pay any extra fees when making purchases abroad.
Whether you decide to download just one or all of the apps listed above, keeping on top of your finances is incredibly important, affecting not only your credit score but your overall happiness level as well.