Friday, March 29, 2024

Smart Money Management With These Finance Apps

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About 49% of Americans are concerned and anxious about their current financial situation, with 19% having no savings at all to cover emergency expenses, according to a 2017 report in MarketWatch. Many people have trouble tracking their expenses and how much they’re actually saving, resulting in debt, which is a significant contributor to the current financial situation facing many American households. To live a more financially stable lifestyle, you need to take the hassle out of your day-to-day money management strategy

As a practical solution to your financial troubles, mobile apps are a simple and convenient tool to help you understand the money that’s coming in and out at all times. Check out these three fool-proof personal finance apps.

Venmo E-Wallet App 

With the average household spending roughly 56% of their budget on groceries and 44% in dining out, it’s easy to see why so many people struggle with overspending. To ensure savings in your shopping routines and better handling of transactions, consider a free e-wallet app like Venmo that allows you to make and share payments with friends and shop online. Easily pay on the go whenever you do shopping and handle all your transactions digitally from a single point on your mobile with some of the top-rated free digital wallets like Venmo.

Get a Clear Picture of Your Financial Health with Dollarbird

A collaborative smart calendar and budgeting app for your finances, Dollarbird is driven by artificial intelligence to help you make smarter financial decisions. Add your current account balances to the app and capture critical data in color-coded spending categories. Get a snapshot of your financial health over the week, month or year, and keep track of any recurring or discretionary spending. Collaborate on joint budgets, quickly adjust your budget and track your expenses with ease. With Americans anticipating to spend up to 40% of their expenses on clearing debts, getting back to financial health requires an understanding of what’s behind your financial decisions.

Save for a Rainy Day with Digit

With more people struggling with saving, (31% have less than $500 in savings), it’s high time people took more seriously the need to put aside something for a rainy day. Digit, a mobile app simply analyzes your daily spending and automatically moves money from your personal checking account to your Digit app account. This is one example of a new breed of personal finance apps that are playing a bigger role in tracking income and spending habits. The app quietly pushes left over cash to another specified account. If you’re undisciplined when it comes to savings, Digit is an effortless platform to help you save when you’re not even looking.

Mobile apps can be a great way to build a stable financial future. Being armed with the right finance apps and knowledge about how you use your money is a critical step. Save yourself unnecessary stress over managing your money with these smart finance apps.

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