Everyone can confess that handling personal finances is complicated, even more so when learning. Fortunately, so many financial applications can assist with such factors as planning, saving, and investing. They assist in recording expenses, planning financial objectives, and creating a healthy money persona. Below is a list of the widespread financial planning applications for novices that can point you in the correct direction.
1. Mint
As you've noticed, Mint is one of the most beginner-friendly financial management applications. It enables its users to connect their bank accounts, credit cards, and other investments all in one place and get wealth details. The given app analyzes your spending habits for you, enables the creation of a budget and suggests ways to save. To help you prevent spending money beyond your means, Mint provides real-time alerts and notifications.
2. YNAB (You Need A Budget)
As a result, it can be said that YNAB is an excellent app for those who prefer something other than automatic budgeting. This personal finance application employs goal setting in finances, taking an aggressive stand as it assigns a task to each dollar and anticipates expenses in the future. For instance, for novices, using YNAB allows for specific categorization of an amount for saving, repaying debt and other financial goals. This app also provides information that will be useful if you are interested in improving your financial situation.
3. Personal Capital
Personal Capital is a perfect place for novices who want to combine budgeting and investing in one app. Features of the app include user spending tracking, expense tracking & budget planning, and investment tracking. It gives you information on your chosen portfolio regarding portfolio diversification, retirement, and worth. In this article, I will focus on an excellent tool for those who want to enter the financial planning and investing world: Personal Capital.
4. PocketGuard
PocketGuard helps users understand how much money they still have for expenses aside from the set-up bills, savings, and necessities. This app is ideal for those who want a basic overview of their ability to manage their money in the shortest time possible without professional intervention. It also helps divide expenditures and suggest options for avoiding some. It's best for learners since its interface is simple, providing the basic steps towards financial literacy.
5. Goodbudget
The Goodbudget is a classic envelope system budgeting tool with an app available for novices who have never tried this type of budgeting before. It allows users to save money in segmented budgets, such as groceries, rent, and fun. At times, when you have exhausted the contents of an envelope, you cannot spend further on that category, making you a wiser spender. Goodbudget will be an excellent app for those seeking the proper organization of the existing budget and wanting to avoid twisting definitions.
6. Simple
That makes Simple ideal for those financial planning apps that need banking services. This app not only gives users an avenue whereby they can plan how to spend their money but is also an online platform for banking whereby users can save money and spend money directly from their accounts. Simple Goals is designed to save money towards specific objectives, while Spending Reports, also Simple, will make tracking a lot easier.
7. Wally
Wally is a smartphone app for personal finance management that focuses on helping beginners track expenses, budgets, and savings. It is most straightforward to use, and even if you have to input the costs manually, you can do so or link your accounts to be automatically captured. You don't need to be an expert in financial planning to read and understand what Wally's visual charts and reports convey about your financial status.
Conclusion
Most people need to find a good App that helps them better plan their financial future. Whether you need a basic app to help with budgeting or an all-encompassing tool that tracks your investing and spending, there is an app for that. Any leading personal finance apps can be an excellent way for novices to get a grip on their money and start developing good financial practices that support attaining personal fiscal objectives.
