Accessibility, organization and easy to use tools are key components to financial success. If you are able to manage and view your finances at your convenience on devices that you use often, you're more likely to stay on track with your money goals.
That being said, here are three key types of money management apps and tools every Clever Girl needs in order to win with her money:
1. Budgeting apps
Having a budget or a spending plan is key to managing your daily finances. When you're able to actively see and keep track of your money, you become more aware and intentional about how you spend it. Once you have developed a budget, the next step is to actively manage it.
My go-to budget app is YNAB (You Need A Budget). It allows you to create a monthly budget and track your spending on the go. You can also access it from anywhere, computer or phone and it’s updated in real-time. Budget with your partner or spouse? You can both access the budget through the app and keep up to date on your spending habits. Other popular and favorite budgeting apps include Mint and EveryDollar.
2. Net worth tracking apps
Your net worth is an essential number to know. Net worth is essentially your assets minus your liabilities. It’s what’s left over after you add up all your assets and possessions you own and deduct all of the debts you owe. Having this information in the form of an app is a great way to manage how you are doing over time in growing your net worth.
I like using the Personal Capital app as a way to track my net worth. It allows you to connect your investment accounts, retirement accounts and bank accounts which update automatically with real-time numbers. It helps give you a complete picture of your financial life and best of all it's free.
Another super fun app that acts as a money assistant, saving you more and helping you grow your net worth is Charlie.
3. Banking apps
It’s important to have your bank account and credit card related apps on your phone so that you can keep track of your accounts. Most if not all bank have apps for your smartphone.
Through these apps you will be able to check your account balances, deposit checks, pay bills and check credit charges on the go. You can also put alerts on your accounts to send you notifications of account activities. This allows you to be proactive and keep up to date with your bank and credit card accounts.
Some online banks offer some really awesome banking experiences and a favorite is Chime.
By using these apps, you'll feel a lot more organized and will find it easy to check up on your finances at the simple touch of a screen. What are you waiting for? Click on that app store!