Money and finance: top 5 apps
5 min read
We've compiled the 5 best money and finance apps to help you keep your eye on the prize - your hard-earned dollars. Check out our favourite apps to make the most of your cash.
It can be hard to keep an eye on your finances – in fact, the more you earn, the messier it can get! So how can you manage your spending, make time to invest and save, track your IOUs between friends, and stay on top of bills? Well, there’s an app for that. In fact, there are plenty of apps, but we've compiled the 5 best money and finance apps to help you keep your eye on the prize - your hard-earned dollars.
Work smarter, not harder
In this case, save smarter, not harder (but it will never hurt to do both).
The super-cool bank of the future is here! Up is turning the industry on its head, creating a simple, mobile-first everyday banking experience. Their special sauce? Tech-led banking, instead of bank-led tech. And, they’ve got a killer fluoro orange debit card. Like us, they’ve partnered with Bendigo Bank to make their fintech dream a reality (a reality for 280,000 users as of October 2020). Since they’re fresh off the block and not bogged down with legacy banking systems, they have some cool tech tricks up their sleeves. And did we mention their fluoro orange debit card?
Raiz (originally called "Acorns") was built on the premise of a squirrel storing away acorns for the Winter. Similarly, this app helps you to store away money (and invest it, too). By rounding up your everyday purchases, Raiz helps you to squirrel away those extra funds and automatically invests them into a diversified portfolio of your choice. You can even set recurring deposits to supercharge your investments.
Raiz is a great app for those who have trouble saving or for those looking to dip their toes into the world of investing.
Mobile investment for future-focused tech companies, which “invests in where the world is going, not where it’s been”. Spaceship left the launchpad in 2018 and has continued its fast, upward ascent, managing more than 39,000 users and over $27 million in funds.
Similar in function to Raiz, Spaceship is best for those who want to take it slow, but also have an appetite for higher-risk, higher-reward options. You’ll learn the fundamentals of trading and investing as you go.
Splitwise is perfect for splitting expenses between two or more people. Whether you need to keep track of household bills with flat mates, keep a running tab with your travel companions, or if you need to track expenses between you and your significant other, Splitwise does it easy-peasy.
Enter how much you are owed and by whom, and Splitwise will do the rest. It tracks all owed bills across a group and automatically balances them, reducing unnecessary back-and-forth transactions. No one will ever forget to pay you back again.
Or YNAB, for short, is a budgeting app that primarily focuses on paying down existing debts. Follow their four rules and you'll be paying off that pesky credit card in no time. Enter your income and assign every dollar to a budget category, then track your expenses and try not to break your budget! By being more aware of your money and how available it is for spending, you can be more conscious when making discretionary purchases.