It comes as no surprise that Americans have made the transition from brick and mortar banking to smartphones. Banking apps are listed in the top three most used apps of 2018. However, this is not the only app that makes financial headway in our daily lives. From managing our spending to setting up our first investments, mobile apps bring consumers one step closer to financial freedom without ever meeting a banker face-to-face.
Know Your Financial Standing
From purchasing a property to signing a rental agreement, a good credit score will be at the heart of the transaction. Consumers who would like to keep their finger on the pulse of their score without negatively affecting it, should consider apps such as CreditKarma. These types of apps provide real-time credit information without affecting it. This is especially handy for those who are looking to increase their score to the next threshold in order to qualify for different products, better rates, and more. ReadyforZero is another app that helps with keeping track of the credit score, and also happens to be a handy tool for those who wish to pay off their debt faster.
Getting A Grip On Your Financial Position
Ever feel like there is way more month than paycheck? If the answer is yes, then a streamlined budgeting app is the answer. Some apps such as Mint, integrate with the bank account to provide real-time budgeting synchronization. This comes in handy for those who are constantly on the move but need to keep an eye on their finances. This app also allows scheduled payments and more. A similar app, EveryDollar, uses a technique that makes consumers account for every dollar they spend.
Allocating Funds To Investments
One of the best ways for consumers to put money aside for their investments is to not know that they’re doing it at all. Apps such as Acorns work on a bank-your-change basis. However, instead of filtering this through to a savings account, the app channels it to active investments. This allows investors to build up their portfolio with small amounts that they will hardly feel coming off their accounts. They can also manage and track the performance of their investments through the app.
From financial advisor to personal banker, there is an app that can take care of every personal money matter.