Let’s face it, saving is hard work! And considering most people have nowhere near enough saved for retirement, we need all of the help we can get. Whether you’re a new grad seeking early retirement, a freelancer preparing for a much-needed sabbatical, or simply someone interested in saving up for a big purchase, using an app can make the process far easier.
The following eight apps can make it substantially easier to track your finances, automate your investing, and ultimately save more. So stop fretting about your saving needs, and check out these great apps to up your game.
1. Personal Capital
Personal Capital is quickly becoming one of the leading money management apps available. With a variety of free financial tracking tools and calculators available, Personal Capital makes it easier than ever to know exactly where your money’s going. One of their most valuable features is a free retirement fee analyzer – which catches hidden fees in your retirement plans, like your 401(k), to potentially save you thousands of dollars.
Call Levels provides real-time financial monitoring and automated mobile notifications for over 10,000 assets including US equities, Forex, Futures, Bitcoin and now – Singapore equities. The app helps its over 180,000 investors keep track of prices for financial assets and notifies them when there is a change in prices or when their prices have reached a desired level. Call Levels provides that critical yet necessary buffer to make an informed decision before a trade position is being entered into, removing the burden of watching the market. Keeping investors informed when opportunities arise is critical in promoting a less stressful investment experience. With Call Levels, each individual is empowered with finance information on-the-go at the ease of their fingertips.
Acorns was designed to help people, especially first-time investors, get started in investing with small automated investments into a portfolio of exchange-traded funds, or ETFs, that the company selects and balances. Users link their bank accounts to the app, which then automatically rounds up the cost of all transactions to the nearest dollar, withdraws that spare change and invests it. As of today, it has about 650,000 users.
Similar to Acorns, Betterment offers a set-and-forget investment option that ensures you are continually saving for retirement. Decide your risk level and Betterment takes care of the rest. The two benefits of Betterment over Acorns is that Betterment has lower fees and allows you to move your 401(k) or IRA onto their platform. However, in order to open a Betterment account you must start with a minimum of $500 and a $100 monthly deposit.
Qapital is an amazing app that automates your savings by transferring a few dollars from your checking account to your savings account every time a specific activities happens. Automatically transfer 10% every time you’re paid, or transfer two dollars every time you make a purchase. The options are virtually endless! Set up a simple savings account and reach your next savings goal before you even realize it. Qapital also offers a $5 sign up bonus!
Similar to Qapital, Digit.co automates your savings by rounding up all of your purchases. Simply connect any account that you would like (credit card, checking, etc) and Digit will track your expenditures from that account – rounding up to the next dollar. So, if you spend $8.34 at Chipotle, Digit will automatically transfer $0.66 into a savings account – rounding to an even $9. Then, whenever you need to use these funds, simply send a text to immediately transfer them back to your checking account.
So there you have it! From financial tracking, to automated investing, to automated savings, six apps that will make it easier to reach your financial goals. Did we miss any?
Call Levels is a mobile-only price monitoring and notification app for financial market participants, enabling you to set price alerts for over 10,000 assets across 6 asset classes (forex, equities, commodities, futures, selected indices and bitcoin), and notifies you when the level you have set has been reached.
Call Levels provides that critical yet necessary buffer to make an informed decision before a trade position is executed, is critical in promoting a less stressful investment experience, and aims to empower every individual with finance information on-the-go at the ease of their fingertips.