Best Apps to Help You Save Money | R&A

Best Apps to Help You Save Money

More than ever we depend on technology. We use it to pay bills, track income, socialize with friends and shop. Perhaps one of the most overlooked aspects of technology is how it can help us save more money. This does not always mean finding coupons and discount codes online. Rather, this means using applications which can help us pay more attention to how we are spending money and help us manage our savings.

Best Applications for Savings

Whether you need help budgeting and staying on track or you need to automate your savings, there are applications available to you. Most of us know that if our savings plans are automatic, we tend to do a better job saving money. Here are some of the applications you could find helpful to help you stay on track.

  • Digit – This unique application truly does automate the savings process. Users link their bank accounts to the application and Digit monitors your deposits and spending habits. Based on your account balances, your spending habits Digit automatically moves money from your checking account to a Digit savings account. There are a couple of “bonuses” to this; you do not have to decide how much money to move to savings, Digit guarantees your checking account will never be overdrawn and you get a bonus of one percent of your balance, no minimums required. There is a modest monthly fee of $2.99.
  • Prism  – One of the challenges with doing bill paying online is the possibility of forgetting to set up a payment, the delays that are common in automatic payments and the fees that many banks charge for this type of service. Prism addresses all these challenges. No more late fees, no postage fees and no missed payments which can help your credit score. Bills are paid instantly, Prism notifies you when payments are due and you can stay on budget making saving money a lot easier.
  • Mint – Now you can connect your entire financial life. Savings, checking and investment accounts as well as bills can be easily combined into one easy application. Mint provides users with a range of services including bill payments, savings recommendations for fees and credit cards as well as recommendations on a range of areas where you can save money. Mint means you no longer have to log into multiple websites or applications to track your investments, bank balances or your bills. Mint brings all of this together in one simple application.
  • LevelSM –  If you are trying to save money, a successful budgeting plan is a necessity. Level allows users to link their bank accounts, bills and their budgeting goals. Limit makes predictions based on your deposits and bills that need to be paid. This allows users to modify their spending habits over the month, decide how much money they should be allocating to savings and more.

If you are one of the millions of people who believe technology is powerful enough to help you make important financial decisions, one of these applications may work well for your needs. One of the many advantages of tracking bills is you can categorize your spending and easily track your tax deductions. Whether you need help with taxes, dealing with business challenges or other financial management needs, contact Rue & Associates, an independent business consulting, and accounting firm serving Central Virginia in Mechanicsville, Richmond, Hanover, Henrico and surrounding areas as well as clients nationally.

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