There are now loads of apps that can help you save money on a day-to-day basis whether you are looking for a convenient way to build up your savings with leftover change or are curious about using your smartphone to make minor investments.
6 money-saving apps to help you manage your finances in 2019
Everybody likes to save. However, it is important to know where your money is being kept, what it does and the kind of returns you are likely to make out of your money saved.
Here are 6 of the best money saving apps that can help you manage your finances, and get you started saving effectively.
Acorns is noted to be the best micro-investing app for beginners. It is also called Raiz in some regions.
Acorns is a popular saving and investing app on iOS and Android devices. After connecting your bank account and cards, Acorns rounds up all of your transactions to the nearest dollar and puts the difference into your Acorns account.
This loose change is then invested into one of five Acorns-managed portfolios, which you get to select, and has the potential to increase in value over time. Given the nature of the stock market, it does admittedly have the potential to decrease in value too.
Mint is also the best budgeting app you can find. It is an app that collects your banking and investment data all in one place to give you an easy-to-understand overview of your finances.
Mint can track your bills, payments, and other transactions while setting savings goals for you to work towards.
In addition to presenting all of your financial information, the Mint apps can detect your credit score and display it for you in a graph along with actionable tips for improving it. All data is rendered in stylish charts with large text making it easy to tell where all of your money is, what it's doing, and where there's room for improvement.
Groupon is the best coupon app. It has almost become a household name due to its popularity and with good reason.
This coupon app has a huge presence in the USA and abroad and offers an enormous number of coupons for almost everything from restaurant meals to cultural experiences.
Using the Groupon app is completely free and all you need to do is present the chosen Groupon coupon when purchasing the selected product or service to get the discount. The savings offered by Groupon aren't small either with examples of the type of coupons available including $140 off of a mattress topper, $15 off of Lindt chocolates, a three months free subscription for the Pandora Premium music streaming service, and $40 off of an Apple Watchband.
Qapital is noted to be the most-fun saving app. It is a neobank, a bank that's run purely digitally via smartphone and tablet apps and has no physical branches that you can visit.
The Qapital apps allow you to fund your Qapital account with your existing bank account, manage balances and transfers, and even gain interest on your funds as you would with a regular bank.
What sets Qapital apart from its rivals, though, is its gamification of goal-oriented savings through the implementation of applets (small, mini apps). Each applet can be set up to transfer a set amount of money to a savings goal when a specific requirement is met.
You can have some money put aside when you meet a fitness goal or when your favourite sports team wins. You can even set an applet up so your account transfers money towards your goal when a specific person tweets or when it begins to rain.
Digit is similar to Acorns and Qapital in that it can connect to an existing bank account and make small transactions towards a savings goal. It is seen to be the best-automated money saving app.
While Acorns and Qapital require users to specify certain criteria before money is moved, Digit uses a special algorithm that analyzes your spending habits, the amount of money in your accounts, and transaction times and calculates a unique number to set aside.
Deposits towards your savings goal happen continually throughout the month at varying amounts but only happen when the system detects that you can afford it. Digit is a set and forget app for saving money and is ideal for those that often get stressed about bank account management.
Shoeboxed is also called SquirrelSheet in Australia and New Zealand. It is the best expense management app. It is an app designed to save you money by helping you keep track of your expenses for claiming on your tax return, filing in an expense report, or giving to a client.
The Shoeboxed app works by using the camera on your iOS or Android device to take a photo of a paper receipt and then extracts all of the expense, payment method, date, and location information from it and saves it digitally.
This data can then be sent in an email or exported as an Excel document or another file format. Information from all scanned receipts can also be searched for from within the app or on the Shoeboxed website which is very convenient for when trying to match expenses with an item or date.
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