If getting on top of your finances is one of your New Year’s resolutions, then read on for some helpful apps that can give you that extra support you’re looking for.
Why it’s great: budgeting
This nifty app allows you to connect all of your bank accounts to one central location, enabling you to see all balances and transactions under one “roof.” You can easily create a budget, set savings goals, track spending patterns and see investment performance all with one single log in. The best part? They also have alerts and advice features, letting you know if there might be unusual spending in a certain category or within a certain account that you should look into.
Why it’s great: investing
See how quickly your money adds up when each purchase is rounded up to the nearest dollar and take it one step further with Acorns, which will invest your spare change automatically. “Acorns constructs and optimizes 5 diversified portfolios with help from the Nobel Prize winning economist and father of Modern Portfolio Theory, Dr. Harry Markowitz,” according to the website. The best part? Deposit or withdraw money at any time without paying a fee.
Why it’s great: saving
Save money without thinking about it? You have our attention, Digit. When you connect your checking account with Digit (it’s secure), it will assess your spending habits and automatically transfer some money (usually $5-50, depending on what you can afford) every few days. They have a ‘no over-draft guarantee,’ so rest assured they will never transfer more than you can afford. Ready to access your savings so you can cash in on that big trip you’ve been saving for? Simply send Digit a text message and they will transfer the money back to your checking account the next business day.
Why it’s great: saving with a twist
Need some incentive to save? Look no further than Qapital, the app that allows you to schedule automatic transfers to a savings account based on triggers you set in your profile. Set a savings goal and then set rules for how you will reach that goal. Want to reward yourself for working out or foregoing the coffee shop? With the Qapital app, you can set up a rule that will “pay” your savings account for each gym visit or day you made your coffee at home. You have full control over the parameters and can adjust them as you see fit. Perhaps the best part is you can make as many transactions as you’d like and you even earn interest.
Do these apps have you inspired to start a budget and save money for a big purchase? Perhaps a home? When you’re ready, D.R. Horton is here to help!