7 Best Personal Finance Apps For iPhone In 2018: Keep Track Of Your Expenses, Income, And Save Money

Whenever Apple coughs out a new iPhone, the public sneezes out cold cash while camping out in long queues at the nearest Apple retailer. If you already have the iPhone X, your bank account surely took a big hit to the sound of $999. Unless you set aside enough money to cover the month’s rent, groceries, and utilities, you may want to download the best personal finance apps in your iPhone.

Why You Need Personal Finance Apps In Your iPhone

As the saying goes, “Another day, another dollar.” But do you have enough dollars at the end of the day to deposit in your bank account as savings? We work to pay our bills. We work to maintain a lifestyle. It’s hard to enjoy the fruits of our labour if you don’t have savings.

In order to save up for a rainy day, a cold winter’s night, or a hot summer day at the beach, you need to budget the money that you make. When you have savings, you have options at your disposal to create new wealth.

If you have savings, you can invest it in a business or in a financial placement that earns high interest. Keeping money in the bank may not even help you cope up with inflation. When you have investments, you make money work for you.

Personal finance apps are designed to help you manage your money. These financial apps have features that allow you to keep track of your money, stay on your budget, and be reminded of payment obligations. There are some money apps for iPhone that give advice on the best investments to make.

The purpose of apps is to make life easier. However, life without savings will be a hard life. Download some of these personal financial applications in your iPhone and never worry about money in the future.

  1. Varo Money

    Varo Money is a digital banking app. Its objective is to help you manage your expenses by keeping track of your bank accounts. Although Varo Money is one of the newer financial apps, it was only launched in the second quarter of 2018, it has already introduced new features.

    One of these new features is the Varo Forecast which makes it function like your personal cash flow app. You will have real-time updates on the current balances of your bank accounts. It will also help you forecast your income and expenses so you can keep track of your cash flow.

    Being mindful of your cash flow is very important. It will make sure you don’t spend money unnecessarily. You’ll think twice about buying that new pair of leather shoes or designer bag when you have upcoming bills to settle.

  2. Debitize

    Owning a credit card gives you a convenient way to pay for your purchases. Sometimes it’s not a good idea to carry around too much cash. For example, when you travel to a foreign country, a credit card will come in handy. You can pay for your purchases without having to exchange foreign currency,

    However, unless you are financially- disciplined, a credit card can break down your bank account. There are interest charges to factor in when using a credit card. It will also give you a false sense of security: “Buy now, pay later.”

    Debitize is one of the best personal financial apps to have on your iPhone. It will reel in your use of the credit card. Debitize works to keep track of your credit card spending. Once you use it, the amount of the purchase will be debited from your checking account balance and credited to the reserve account.

    When the due date arrives, Debitize will clear out your reserve account to pay for your credit card purchases. With this app, you will know exactly how much you have been spending and if you have the money to pay for it all.

  3. Stash

    Like we mentioned earlier, having savings allows you the opportunity to create new wealth through investments. But which investments should you park your money with?

    There are many financial placements to consider. Each one carries a certain amount of risk. If you’re not careful, instead of creating new wealth, you will be creating new problems.

    Stash is one good finance app to have on your iPhone if you plan to invest. It will give you a rundown of the best investment funds to place your money with. These investment funds are traded in an exchange and allow for flexibility of risk tolerance.

  4. Digit

    Contrary to what most people think, it is easy to save money. You just need to set aside an amount every time you can. If you’re not sure how effective that simple strategy is, download Digit on your iPhone.

    Digit is one of the best apps to manage your money and bills. It analyses your spending patterns by reviewing your transactions in your checking account. From there, the app withdraws small amounts to a savings account.

    And Digit tries to be precise. The amount it withdraws is calculated on the amount you plan to spend on that particular month. Sometimes it will not round off the amount of the withdrawal. You may be surprised how much you have saved at the end of the year!

  5. Mint

    Mint is one of the must-have financial apps for your iPhone. It has many outstanding features that will allow you to save money. These include financial trackers that give you data on your spending habits. You can reel in your spending before it wreaks havoc on your bank account.

    This also functions as an effective personal cash flow app. Mint lets you create your budget based on the amount of income you will receive on a specific month. It will also help you stay on top of your credit score, account balances, and overall net worth.

    By having Mint in your iPhone, you’ll never have to worry about missing out on a payment date. This wonderful money management app can set reminders on due dates so you can pay your bills on time.

  6. Personal Capital

    Personal Capital is a personal financial app with features that help you manage your income and expenses. You can customize your monthly budget based on the amount of income you expect to earn. Then, you will be able to list down all the expenses you have to make and compare them with your expected income.

    Are you thinking of investing your money? Personal Capital has an extension called “Holdings Today”. This feature will enable you to study various investment portfolios. Likewise, it will provide market benchmarks which you can use to assess the viability of each placement.

    The Holdings Today extension will give you updated reports on daily market movements as well as real-time tracking on how your portfolio is performing.

  7. PocketGuard

    PocketGuard is one of the best financial apps you should have on your iPhone. It is an all-purpose, all-in-one money management app. If you are already moving to secure your future, PocketGuard is definitely for you.

    PocketGuard will synch all of your banking accounts, loan accounts, investments, and credit card expenses so that you can stay on top of them all the time. This is also a wonderful app for setting financial goals.

    Do you have a target amount of savings at the end of the month? PocketGuard will make sure you reach or even surpass it.

    Are you planning to reward yourself with a special purchase once you achieve your savings goal? PocketGuard will advise you on how much you can spend without going out of your quest for financial security.

Conclusion

Personal financial apps will make it easier for you to achieve financial freedom. Saving money is no longer a challenge if you can keep track of what you need to pay for and know exactly where your money is going.

Next time you’re at a mall and see something that makes you want to reach out for your wallet, reach for your smartphone first. Open Mint and check if you can afford to spend for an item that isn’t on the budget.

It is perfectly fine to buy whatever you want. After all, you did work for it. However, it should not be at the expense of your obligations.

It may seem like a little expense that can easily be covered by another day at the office. Over the long run, it would be better to set aside the little amount of money as savings rather than spending it.

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