Money-Saving Apps to Boost Your Financial Health

Explore Some of the Best Money-Saving Apps to Boost Your Financial Health

Whether you are a consumer or a small business, it is a financially wise decision to save more money. Savings are important to take care of emergencies and unanticipated expenses. If you are consciously and consistently saving money and have created a robust retirement account and a solid emergency fund, you would not need to worry about your future finances. If you save consciously saved throughout your entire life, you could enjoy financial freedom and a lot more opportunities to boost your business.  

The biggest issue is to determine precisely where and when to make the necessary changes that would help in saving substantial money. The best way to make perfect financial decisions is to make the most of all the cutting-edge money savings and other financial apps. Saving money could prove to be quite challenging but automation could be helpful. Here are some financial apps that directly or indirectly help you in saving money.

Chime

Chime is supposed to be an iOS and Android mobile banking app. It actually has a debit card and a spending account where you could easily and safely see transactions almost instantaneously, deposit funds, and even track spending consistently on the go. This effective mobile banking app is known to provide a completely automatic savings account that facilitates saving money. You may set aside 10 percent of your paycheck every month for Chime.

Capital

This is the best financial app for goal-setting. As per Nerd Wallet, “Capital lets you set “rules” to automate savings. For example, every time you spend money, Capital can round the total up to the nearest dollar and move the amount into a goal account insured by the Federal Deposit Insurance Corp.” Or you may alternatively consider contributing a lump sum regularly to your fund.

You would be requiring an outside checking account for linking to Capital and funding your different goals. Remember withdrawal of money would take a maximum of two business days from a Capital account.

Digit

Digit is an effective app that helps you by doing the acting and thinking associated with saving money, on your behalf. Digit may end up doing a better job as compared to you. Moreover, it would help in lifting the pressure from your mind and removing the effort from your shoulders. Digit examines your present income and expenditures. Then it would be calculating the precise amount you have the potentiality to save and accordingly puts that specific amount aside in a Digit account that is FDIC-insured.

The app would be going through and doing this analysis between twice and thrice every week. It helps you in earning the 1% savings bonus which is actually paid once in every 3 months based on actually your average daily balance in your specific Digit account throughout that period.

Debt Eliminator

Debt Eliminator is an important financial app that helps to eliminate your debts. Once you could get rid of your debt, you could save a substantial amount of money every month. Debt Eliminator is supposed to be a customized plan generated by Suze Orman, noted financial guru. Information that is being inputted into this tool actually cannot be saved or stored. The app would provide you with a detailed debt payoff plan.

Debt Eliminator recommends the common debt snowball method for repaying the debts. This is an effective stratagem that involves paying the minimum balances on practically all your debts barring one and diverts all extra money towards that specific single payment. Once that account seems to be fully paid, focus your attention to paying off your next loan and go on doing that until all the debt is effectively eliminated and you are completely debt-free. Visit renowned sites such as National Debt Relief Programs for perfect debt solutions.

Clarity Money

Clarity Money is used for differentiating wasteful spending from wise spending. This is a free app and it clarifies wise spending by canceling all the subscriptions that are not currently used or required by you. The app further examines effective ways of negotiating your bills and bringing them down to considerably lower rates. This amazing money-saving application is known for tracking what you have already spent to make sure that you do not overshoot the budget and that you are very much within the budget.

Moreover, it would be recommending specific credit cards which may complement your lifestyle and cater to your credit needs. It helps you to learn smart ways to use credit. You could set up a savings account with this application as you would require a place for putting all the money that is being saved.

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You Need a Budget

This is an application that assists in creating a budget interface that is easy-to-use and that helps by teaching you about the real value of money. As such, you would soon learn to positively prioritize specific expenses, discover effective ways of saving money for emergencies and retirement, manage unanticipated costs, and even live keeping in mind, all your financial constraints. You could start living within your means instead of using credit.

This software or application would work successfully on both Mac Computer and Windows. It would be active across all mobile devices for Android and iOS, plus Amazon’s Alexa and Apple Watch.

Mint

Mint helps you in paying down your debts and bills timely so that you do not need to pay any late fees or penalties. Mint is a fantastic application for creating an apt budget for ensuring you maximize what all could be done with your money. It helps in allocating money towards your savings, retirement account, and emergency fund while catering to all other financial obligations.

You could examine your credit score free of any cost for monitoring how your good money habits and savings are paying off ultimately and thus, giving you the chance to avail a lower loan rate if you are looking to buy a vehicle or home.

Conclusion

All the above-discussed money-saving apps are extremely helpful in changing your mindset regarding money. You get to learn important lessons about financial wellness that could effectively keep debts at bay.

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