Statistics make it clear that most Americans struggle to manage money – either failing to save for emergencies, getting into too much debt, or lacking a sensible budget.
Luckily, there are plenty of smart new wealth management apps which make taking control of your finances easy. Many link to your existing accounts, making them super simple to get started with.
Whether you want a complete overhaul of your financial life or just an easier way to start saving, the apps below have got you covered.
1. Personal Capital
Personal Capital really is the whole package – it’s a smart wealth management and personal finance app that helps you manage everyday spending and long-term investments, all in one place.
It’s integrated with thousands of existing financial institutions, so it’s easy to link your accounts and view all your financial data in one place.
The app lets you create budgets, track your portfolio, and optimize your investing strategy. It offers tips on diversification and risk-management and lets you connect with qualified financial advisors.
If you need an app that can handle investments and personal finance, this is a great choice.
Want to understand more about the big picture behind your regular spending habits?
Mint is a clever app that tracks all your incomings and outgoings, then analyzes this data and makes suggestions based on your personal history.
This means that you won’t need to sit down and painstakingly take note of your spending to create a budget – all the hard work is done for you.
Your spending is broken down into categories, so it’s easy to identify areas where you might need to make some changes. Simple charts and graphs make the data easy to understand.
This app is perfect for anyone who feels in the dark about their finances.
Want to start investing but don’t really know how?
Stash is an app that’s designed to make investing easy and affordable.
It’s full of useful educational content that helps you to build your own portfolio from scratch – all while learning how investing works.
This makes it much more valuable than apps which handle things automatically but don’t actually teach you anything.
For first-time investors, Stash is a great place to start.
Did you know that one in three Americans has less than $5000 saved for retirement?
It’s clear that saving money is hard for most of us, especially in the current climate. Luckily, apps like Acorns help make it much easier.
Acorns works by rounding up the cost of purchases you make on your debit card, then automatically depositing the surplus into a savings account for you. You don’t have to physically do anything, but you’ll automatically accumulate a nice rainy day fun.
You’re also given the option to transfer your savings into an investment fund, which could help them multiply.
Why Start Using Wealth Management Apps?
Wealth management apps are the future. They take all the effort out of managing your finances, whether you’re interested in better budgeting or serious investing.
They provide complete control of your finances and make smart suggestions for you.
Want to read more about smarter ways to live? Visit our life and culture section.