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One of the best things you can do as a potential homeowner is understand and manage your finances.
But with dozens of tools and financial apps out there, it can be overwhelming to figure out which ones are right for you.
That’s why we’ve narrowed down the list to our top five personal finance apps and websites that will prove indispensable during your homebuying journey!
Keep reading to learn more about how these finance apps work, their features, and how they can help guide your financial decisions throughout this process.
Top finance apps #1: Mint
Track your spending in one place and get personalized tips for budgeting.
One of the standout features of Mint is its ability to automatically categorize your transactions. By linking your bank accounts, credit cards, and other financial accounts, Mint can track your spending in real-time and sort it into appropriate categories.
This makes it easier for you to see where your money is going and identify areas for improvement.
Mint also assists in creating customized budgets based on your income and expenses. The app will suggest budget limits for various categories, but you can adjust these as needed.
By monitoring your spending habits, Mint can help you stay on track and avoid overspending. Bill reminders and alerts help keep you on top of your upcoming payments.
Finally—whether you’re saving for a down payment on a house, paying off debt, or building an emergency fund, Mint’s goal-setting capabilities can help you create a plan to reach your financial objectives.
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Top finance apps #2: Acorns
A simple way to invest spare change and start building wealth.
With its innovative approach and user-friendly interface, Acorns makes investing accessible for everyone.
The standout feature of Acorns is its “round-up” system—linking your debit or credit card. Acorns automatically round up purchases you make to the nearest dollar, then invests the spare change in a diversified portfolio.
You can start investing without even thinking about it, making it perfect for those who struggle to save.
Besides round-ups, Acorns offers other ways to invest, such as recurring deposits and one-time investments.
Five expertly designed portfolios include a mix of low-cost exchange-traded funds (ETFs) available. Each is based on your risk tolerance, ranging from conservative to aggressive.
A feature called “Found Money” allows you to earn cashback from participating retailers when you shop through the app. This cashback is then automatically invested in your account, further boosting your investment growth.
While Acorns’ ease of use is a significant advantage, it’s essential to consider the fees. The app charges a monthly fee ranging from $1 to $5, depending on the plan.
In summary, Acorns is an excellent app for those looking to dip their toes into the world of investing.
Top finance apps #3: Quicken
A comprehensive online money management tool.
Quicken is a well-established financial app that offers a comprehensive solution for managing your personal and business finances.
Robust features and a user-friendly interface make Quicken a go-to choice for many seeking to get a better handle on their money.
- Track and categorize transactions
- Create budgets
- Monitor your investments
- Link your bank accounts, credit cards, and other financial accounts
- Detailed reporting
- Bill reminders and alerts to keep you on top of your upcoming payments
Quicken provides a holistic view of your financial situation, making it easier to plan and make informed decisions.
Unlike many budgeting apps, Quicken requires a yearly subscription, ranging from $35.99 to $103.99, depending on the plan you choose. While the features are indeed extensive, the cost may be a factor to consider for some users.
So, if you can handle the price, we suggest you give Quicken a try if you’re looking for a complete financial management tool to help you stay on top of your money matters!
Top finance apps #4: PocketSmith
Plan your financial future with forecasting tools.
PocketSmith is an innovative and comprehensive financial app that helps you manage your money effectively with its powerful forecasting capabilities.
By integrating your bank accounts and credit cards, PocketSmith can predict your future cash flow, giving you insights into how your financial decisions today will impact your future finances.
The app also offers:
- Customizable budgets
- Expense tracking
- Detailed reporting to stay on top of your spending habits
- Set financial goals, track your progress, and make adjustments as needed
One potential drawback is that PocketSmith offers limited features in its free plan, with more advanced features available in paid plans starting at $9.95 per month.
Top finance apps #5: You Need A Budget (YNAB)
Set financial goals and track expenses in real-time.
You Need A Budget (YNAB) is a financial app designed to help you take control of your money by following a unique budgeting method.
YNAB’s key principle is “give every dollar a job,” which encourages you to allocate your income to specific categories before spending. This proactive approach helps you prioritize your expenses, avoid debt, and save for your financial goals.
Sync your bank accounts, credit cards, and other financial accounts to make it easier to track and categorize your transactions. Detailed reporting helps you analyze your spending patterns and make adjustments as needed.
One of YNAB’s strengths is its educational resources, including tutorials, webinars, and a supportive community that can help you stay motivated and improve your financial habits. This makes it a great resource for first-time buyers looking to get in good financial shape for a mortgage.
YNAB charges a monthly fee of $11.99 or an annual fee of $84, with a 34-day free trial available.
Take control of your financial future
With the help of these top personal finance apps and websites, managing your finances and achieving your financial goals has never been easier.
From budgeting tools to investment strategies and forecasting capabilities, these apps offer a range of features that can help you take control of your money and plan for the future.
If one of your main financial goals is to save for a home, it’s important to have a clear understanding of your current financial situation and what you need to do to get pre-approved for a loan.
That’s where the Homefinity team can help.
Our dedicated mortgage loan officers can work with you to evaluate your unique situation and provide honest recommendations about what you need to do to get pre-approved for a loan.
With this knowledge, you can use your personal finance tools to their fullest potential and truly take control of your financial future.
Remember that the road to approval for a home loan comes with specific requirements, such as income, credit score, down payment, and debt.
By partnering with Homefinity, you can rest assured that you won’t be taken by surprise at any step of the process.
Take advantage of these personal finance tools to make smarter financial decisions.
Photo by Liza Summer