11 financial experts reveal their favorite money apps

Acorns

  • Money apps can be beneficial tools for saving, budgeting, and investing your money.
  • Of course, some apps may work better for you than others.
  • Here, 11 financial experts reveal their favorite money apps.

 

There are many ways to manage your money, and money-management apps are one efficient way to do so.

One of the smartest strategies to save is by leveraging support,“ Krista Neeley, managing vice president of Appreciation Financial, a retirement services company, told Business Insider in an email. „Many apps will help you strengthen your savings habits through automatic deductions, budgets, organizing receipts, and tracking market growth — and they’ll even text you financial reminders and/or updates on your accounts.“

The best of these apps can be like having your own financial planner at your fingertips.

Here, Neeley and 10 other financial experts share their favorite money apps:

SEE ALSO: 8 people share the best money advice they’ve ever received

1. Mint

My favorite money-related application is Mint, as everyone can benefit from seeing where their money is being spent. Far too often, people are not aware of how much they are spending and where it is going, which can have a large impact on long-term planning.

Measuring is the first step to managing. This app helps some of my clients know where they are, so we can help them get to where they want to go.

Joshua Mungavin, CFP and principal wealth manager at Evensky & Katz/Foldes Financial

2. Acorns

Acorns is my favorite money app, because it makes it simple and cheap to make small investments. It’s a great „muscle builder“ for creating a habit of putting away money.

Since my wife and I started using it, we’ve seen a total gain over around 12%. There is no excuse not to start when you can invest just $5 to get started.

Lance Beaudry, blogger at Budget Ninja Blog

3. Zelle

These days, fewer people carry cash, including me. Whether I owe someone money or they owe me, I find money transfer apps to be incredibly helpful. For instance, Zelle makes it fast, safe, and easy to send money from one bank account in the U.S. to another, typically within minutes when both parties are enrolled.

This is so much more convenient than trying to find an ATM (and potentially paying ATM fees), or mailing a check. You can also request money from people, taking the awkward moment out of asking someone to pay you back.

Andrea Woroch, consumer expert

See the rest of the story at Business Insider
Source: Business insider

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