Mobile Apps to Help Manage Money
It goes without saying, that there are already too many apps out there for our devices. Why would you need one to help you manage your money? That’s what financial advisors are for, right? Well, for some investors, and I’m mainly referring to the younger generations, i.e. millennials, there are a myriad of slick and high tech apps available. I would disclose, however, I don’t see these replacing a sound financial plan and/or successful working relationship with your current financial advisor. Perhaps these make for a complimentary or supplemental addition to your current plan. For the purpose of this discussion, we’ll focus on understanding what these apps are and what they aren’t?
This app allows for automated investing service via your mobile phone or tablet and gives you features available on the it’s website with access to your accounts, such as your IRA.
This new type of savings app allows you to deposit small amounts of money into your savings account each time you purchase something. Usually, these amounts are the small slivers of change rounded up in the total purchase.
This is also an app that allows for small deposits of rounded up change each time you make a purchase into an account that provides an investment vehicle such as an exchange traded fund.
This app allows investors to purchase stock free of commissions or fees and for any amount.
Here is an app that allows for you to keep tabs on your personal financial situation as it links to all of your bank and financial accounts including loans and credit cards.
This is an automated investing service that allows for a hands off approach to managing your money.
This app syncs up with your bank accounts and credit cards to help you keep track and understand your money situation.
Similar to Acorn, this app stashes small amounts of spare change as you make purchases into a portfolio that you designate.
This is an online bank to help you manage your budget, transactions and live within your means.