3 Apps That Will Make You a Pro at Saving Money

Saving money can be simple, but it’s not always easy. Receipts mysteriously disappear. Credit card spending can accidentally balloon out of control. Remembering to put money away for the future, a goal or just a rainy day can slip out of sight. But there’s good news: money saving apps can help you out, whether you want to plan a family vacation, set aside some money for a house remodel or just establish an emergency fund. Whatever your goals, there’s probably a money saving app that can help you get there.

But with so many apps available to help people with their money, which are the best to use? Here are three money saving apps to download that can help you save.

1. RocketMoney

RocketMoney starts with a simple assumption: that a lot of people are paying for subscriptions they never use. This money saving app scans your bank accounts to detect subscriptions, then allows you to decide what you want to keep. If you’re thinking of cancelling that Netflix subscription, RocketMoney will even reach out and cancel the subscription for you, saving you time and hassle on an unwanted task. In fact, they can help negotiate bills if you’d like to try to get the same service for less.

But there’s more: RocketMoney has features that keep users on top of their bills, credit scores, account balances and more. One feature of RocketMoney automatically calculates and withdraws small amounts of money from your checking account every day, building your savings to a limit you set (and you can pause the savings any time you like). 

RocketMoney is downloadable for free on both iOS and Android.

2. CreditKarma

CreditKarma has recently absorbed many of the budgeting features that previously were part of the popular budgeting app Mint. That makes it one of the biggest personal finance apps in the world. It’s owned by finance giant Intuit, owner of TurboTax and QuickBooks, which means tracking functions can come in handy at tax time. Its aim is to help you create and manage a budget, and it works in real-time with your bank accounts, credit cards, loans and retirement funds. You can also set up alerts that let you know when you’re reaching your budget limit. CreditKarma can also make suggestions about credit cards and loans, increasing your credit score, opening bank accounts and more. 

In order for the system to work, you have to authorize the app to have access to your accounts. Programs like CreditKarma (and RocketMoney) use a strong security protocol to keep your information safe and encrypted. Of course, there is always a risk with divulging this type of information, but there haven’t been any documented problems specifically with CreditKarma. Occasionally, users who have banks that require two-step authentication for logging in have run into problems connecting their accounts. CreditKarma and its sister apps are available for iOS and Android.

3. Goodbudget

Goodbudget, which comes in both free and paid versions, allows you to keep track of a budget on your smartphone. The idea derived from the old practice of envelope budgeting, where each paycheck was cashed and the money was divided up into envelopes, each of which had a particular use. That cash was all you could use until you ran out, and it kept budgets in check. 

Goodbudget allows users to keep their money safe and sound in a bank, but still virtually divide up paychecks into digital “envelopes” each pay period. App users manually input their paycheck or checking account dollars and expenses during the month, and Goodbudget will let you know how much you have left to spend in each envelope. 

In the free version of this money saving app, there isn’t any connection to bank accounts or credit cards, and everything has to be entered manually to make this system work. The paid version of the app allows for automatic bank sync. The app also lets you share and sync your budget with other people so that everyone is on the same page. They also say that they can help you save for significant expenses.

The free version of Goodbudget gives you only ten regular envelopes, ten annual envelopes, one account, two devices and one year of history. The paid version, which is $10 per month or $80 for a year, allows unlimited regular and annual envelopes, unlimited accounts, five devices, seven years of history and email support. The app is available for iOS and Android.

We Can Help You Keep Track

Keep your family’s finances in check with a little help from your closest friend, your smartphone! If you want a more detailed look at your finances and suggestions for ways you can plan ahead, connect with a local Farm Bureau agent and learn more about our financial products.