The new year is here and one of the top resolutions families make is to save more money and pay off debt. Luckily, there are apps and online services designed to help families save more and spend less.
Mint, owned by Intuit, is one of the oldest budget apps and still one of the best. It works on your phone or via a web browser. Connect your accounts to Mint, and Mint does the magic for you. It tracks when bills are due and what you’re spending your money on, helping you get a better understanding of where all of your money is going. If you need a visual approach to your budget, this is it. Free (Android/iOS)
If you’re looking for a new bank account to help you save money, Simple is a great option. Technically, it’s a bank; Simple is owned by the national bank BBVA. It’s different because they created Simple to be an online-focused bank. There are no buildings. Most of your interactions are done via the web or app. What I like about Simple is that you can create goals to help you save money for specific things. It can set aside money and keep it out of your everyday balance. You also earn interest on those savings. For some, not seeing money in the account is the best way to tuck it away for a rainy day. Free (Android/iOS)
Do you want to really take the thinking out of saving money in a bank account? Digit is a cool option that does the work for you. It analyzes your spending and knows exactly how much to save each day. You can set up different saving buckets and it will intelligently put money into those buckets based on your daily activity. I love the concept, I’m just not sure I love the idea of paying $2.99 per month for it. Nonetheless, it might be worth it if it helps your family save for that big Disney trip. Free 30 days, then $2.99/month (Android/iOS)
Hopefully, these apps will help you and your family get a strong financial start to 2019.