The holidays are coming up fast, which tends to mean things are about to get expensive. Whether you'll be spending money on gifts, trips home for Thanksgiving/winter holidays/NYE, vacations, or end-of-year bills, or getting ready to make financial resolutions for the New Year, it's a great time to start getting your financial house in order.
Use these tools to make budgeting, spending, and saving as easy and efficient as possible.
10 apps to help you manage your personal finances
rawpixel.com1. Save for specific goals with Qapital.
When you keep all of your money in one account, it can be easy to lose track of goals or what purpose you've earmarked funds for. Qapital solves that problem by splitting up savings based on your real-life goals--and using various "rules" to determine when to save.
For instance, you could set a "winter trip" goal, then implement a rule that every time you buy a coffee, the app also automatically puts money into the trip fund. And when you've enjoyed the satisfaction of watching savings accumulate towards your various goals, you'll be less likely to dip into those funds for impulse purchases.
2. You've heard of "honey-do" lists. Now, manage joint expenses with HoneyDue.
Finances are a common source of tension in relationships. HoneyDue makes it easy to strike the perfect balance when combining finances, prevent arguments, and help you both stay organized and on the same page.
It works by allowing couples to choose what they want to share, and what to keep separate. The app lets you create and coordinate budgets, track bills and account balances, and add both joint and individual bank accounts so you can keep your own "fun money."
3. Want to lower your bills and keep track of all your accounts in one place? Use Empower.
The most unique feature of Empower is still in the process of being released: the app will let you renegotiate big bills you didn't even realize you could reduce. Other money-saving features include the ability to cancel unwanted subscriptions and find high-interest accounts to store your savings in.
If you have a lot of accounts and find it difficult to stay on top of them all, Empower also allows you to add all of them in one place--and even make transfers between them or set up autosaving. This means you'll have a full picture of your finances all from one place.
4. Get money back on everyday purchases with Drop.
Drop isn't the first shopping rebate app out there, but it is one of the easiest to use, because it works automatically. You don't have to unlock rewards or upload receipts: you simply link a credit/debit card, spend normally, and earn points for eligible purchases.
Retailers featured on Drop include grocery stores, clothing outlets, restaurants, department stores, and even Amazon, so there are plenty of ways to earn. When you have enough "Drop points," redeem them in-app for rewards like gift cards.
5. Become an investor with Stash.
Stash allows you to build a fully diversified portfolio full of ETFs in categories that you choose. For example, you could fill your portfolio with a clean energy fund, stocks that pay dividends, and a small business fund. Stash assesses the risk portfolio so you can make a plan. You can start with as little as $5, but keep in mind that the monthly price is $1, so it's a good idea to invest more than that so the fee doesn't cut too much into your profits.
6. Make donations--it’s the holidays, after all--with CharityWater.
Support a non-profit organization bringing clean and safe drinking water to people in developing countries. 100% of your gift will go towards the cause. And remember, you can write off charitable donations on your taxes come April.
7. Pay off credit card debt and start 2018 on solid footing with Tally.
Tally is unique in that it not only provides a way to organize and manage your credit cards: it actually functions as a line of credit itself (if you qualify). If you're carrying credit card debt, you can transfer that balance to the Tally credit line and pay lower interest. Or, simply add your credit cards as-is and let the app make automatic payments to ward off late fees. It saves you interest payments and hassle so paying off debt is easier.
8. Have some free time over the holidays + want to see what all the "bitcoin" fuss is about? Transact with Coinbase.
Interested in buying Bitcoin, Ethereum, or Litecoin? Cryptocurrency is more popular than ever, and it's easy to acquire some and start experimenting. You can sign up for Coinbase to purchase and securely store your crypto "coins." (If you have a friend who's been talking about it for years, ask them for a Coinbase referral link to get a $10 bitcoin bonus.)
9. Transfer funds internationally with TransferWise.
Looking to send money to family or friends in another country this holiday? Some banks charge up to 5% in hidden costs when sending money to any bank account abroad--and many other familiar payment apps only work domestically. TransferWise claims to be up to eight times cheaper, so you can send the money without having it eaten up by fees.
10. Doing a lot of online shopping for the holidays? Use Privacy.
Most websites aren't immune to hacking--so it's a bit of a gamble to store your real credit card information on them. With Privacy, you don't have to. The app lets you create temporary, virtual cards and billing details to protect your money from thieves and hackers.
Also, if you intend to buy a six-month or year-long subscription as a present for someone, Privacy cards are also ideal for signing up for subscription purchases you don't wish to renew. If you have trouble canceling or forget to, the merchant won't be able to charge your card again when auto-renewal time comes.
It's been an amazing decade for financial technology, and it's only getting better. As Carl Tremblay, Head of Growth at Plaid, notes, "What we've seen emerge over the past few years is a really healthy and competitive fintech ecosystem that has started to benefit consumers and businesses everywhere. We’re at the beginning of what promises to be a busy few years."
These apps are already amazing, but fintech is nowhere near done yet.
