The Best Personal Finance Apps for Beginners

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Managing personal finances is very important in life in order to achieve financial stability in the long term. Proper money management will make future life difficult. Managing good finances is not just about recording all the expenses we do but includes such things as budget planning, investing, and saving in order to prepare for a good future.

Managing finances can also help a person to ensure that expenses are not greater than the income they get. With budget planning, we can allocate money according to needs such as food, transportation, as well as bills that we have. The other benefit is that it can reduce the risk of debt that cannot be controlled and is able to build a lifestyle according to ability.

By managing finances, it also allows a person to have an emergency fund if it is needed at any time. Such as the existence of unexpected situations, such as the occurrence of disaster, job loss, and so forth. The benefit to our souls is to be able to give peace to the mind.

With a good person able to manage his money, of course, it will be easier to achieve the dreams that he later had, such as being able to build a house, fund education, and have a comfortable retirement. 

Doing so is also able to instill financial discipline to be able to increase self-control. With today's advanced technology, all of this can be done easily. You can take advantage of existing mobile phones and can use a variety of applications that can give..

10 best personal finance apps

Here below are some applications that can help you in managing finances, even though you are a beginner, and you can use them easily:

1.  Mint

Mint is one of the platforms from iOS and Android that managed to make a good financial management application. This application is quite popular today to help track expenses, create a budget, and group them by category. In addition to its ability to link various financial accounts, such as bank accounts, credit cards, as well as investments, in one place.Mint application features: 

• Has automatic synchronization with bank accounts
• Have a bill payment reminder.
• Have an overall financial health report.

2. YNAB (You Need a Budget)

This application is also created and developed by iOS and Android. The YNAB application has a focus on budget management based on “zero-based budgeting, where every dollar that is owned must be allocated. As for other supporting features, such as guidance for new users, it has comprehensive management tools, as well as bank account integration support.

3. Personal Capital

This platform is useful for combining a budget management tool with various investment features. Very useful for you if you want to monitor an investment asset while managing day-to-day finances. Personal Capital features include investment and retirement plan analysis, cash flow and budget tracking, and net worth reports.

4. PocketGuard

This simple application is able to analyze your income if you want to know how much money is left after all needs are met. Then this application also automatically analyzes routine expenses and savings targets. And the advantage of this application is that it has savings recommendations based on spending habits. Complete with graphs and visual reports and can be connected to a secure bank account.

5. GoodBudget

This application is very useful for you because it has a method that is able to separate money into certain categories, which is very suitable if you want to manage finances manually without the need to connect bank accounts. The application that comes from the iOS and Android platforms is very suitable for couples and families because it does the tracking manually.

6. Spendee

The application is able to track the daily budget and group it in specific categories. Great for individuals and teams if you want to keep track of shared expenses. The features that are available are able to adjust the budget, have a tracking feature together, and there is a good visualization of financial data.

7. Acorns

For those of you who monitor expenses on a small scale, the Acorns application is perfect for you to automatically invest change in every purchase and include it in the portfolio you choose. The benefits can be used in small nominal investments, retirement plans, and providing financial education.

8. Wally

This application helps users to understand the spending habits that are done. Because Wally has a manual and automatic expense recording feature and is supported by detailed budget reports and is able to track expenses based on location. And given multi-currency support.

9. Emma

This application can be used as a financial assistant for you because it can help identify unused recurring subscriptions, reduce expenses, and be able to provide detailed reports for users. As for the features it has, such as automatic bill tracking, accurate expense analysis, and integration with various bank accounts.

10. Expensify

This application is designed for users who often travel, such as needing to track expenses for business purposes. As for the features provided by Expensify, namely the presence of an automatic receipt scanner, as well as professional expense reports.

Conclusion

Each existing application certainly has its own advantages according to the needs of its users. For beginners it is suitable to use the Mint application because it requires a complete solution. If you need tight budget control, using the YNAB application is very suitable and ideal. Please consider first before using the application above in order to maximally organize and manage your finances.