The world of money management can get so confusing and complicated. It’s like people who work in finance want us to not understand anything, so they can charge us out the wazoo for their services. While I’m not a financial expert, I am passionate about personal finance. It’s one of the things I wish all women get an education in because it’s so important. It’s empowering to know where money is coming in and going out from your accounts. It will help you make better financial decisions as you’re faced with important choices in your 20s.
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There are so many choices when it comes to money management apps these days. I don’t like to make things complicated for myself, because if it’s too overwhelming, it just gets too scary. The burden of trying to understand and manage everything would just be too much to the point I won’t want to get organized in the first place. These are the top three apps I use to make sure I know what I’m spending on, where things are going, and how they’re they’re growing. Keep scrolling to read!
Money Management App: Mint
This app gives me a quick overview of absolutely everything money-related. You can see where your money is sitting in different accounts, you can create budgets for different areas of your life, and you can categorize all your expenses in one sitting.
I know all things money-related can get overwhelming, so I choose a dedicated, standing time and day in the week to stay on top of it, usually Fridays. I call it having a “date with my finances”. Just 15 minutes every week spent looking over and categorizing my expenses gives me so much peace of mind. That way, there’s nothing like unwanted expenses, recurring charges, or non-refunded purchases that slip through the cracks.
If you’re looking to get on a budget, I recommend starting with this app first. It’s free, it’s easy to use, and it’s available on all app stores.
Simple Investing App: Acorns
Okay, does investing just scare the heck out of you? Because I was so afraid of diving into it. Turns out, you really don’t need to understand too much. No, really. It doesn’t have to be that complicated. I wanted to find something that made it as simple as possible, so Acorns was a delight when it was introduced to me. I’ve spoken about this one before in my 5 Free Phone Apps I Wish I Downloaded in College, and it’s truly one of my favorites.
After you download the app, you take a quick quiz with a few questions about your income and investment goals. Then, they’ll automatically choose an investment portfolio with options and resources about how to personalize your growth. Money put towards my investments is now taken automatically out of my checking account. There’s also a neat chart to see how your money grows over time.
This app is free for students, so I highly recommend downloading it while you’re in school. Afterwards, it’s $1/month but so worth it if you’re looking to invest for a long period of time. Use this link to download the app to get $5/month towards investing for your future.
Self-Employment Money Management App: QuickBooks Online
While the other two apps are used for personal money management, QuickBooks Online is the app I use for all things business-related.
There are a few reasons I enjoy using this app and keep coming back to it after trying different ones. It allows me to easily categorize my business purchases and track my car mileage for business-related drives. It also easily connects to lots of other business accounts like HoneyBook for client invoicing and Gusto for all things payroll.
My CPA doesn’t live in the same city as me, so it’s also convenient for their team to access things online.
If you’re interested in personalize finance books or you just want to learn more about adulting in your 20s, try these 7 Books You Should Read Before College Graduation. Have some money management apps you love? Let me know in the comments or send me a message. I’m always looking for new things to try and recommend!