Our Favorite Personal Finance Apps – EP 187

Looking for resources to help you on your financial journey? Are you in need of streamlining your budgeting or banking process? We’re exploring a run-down of some of the top personal finance apps; from banking apps to budgeting apps to investing apps and saving apps, there’s some cool digital tools out there and we’re highlight the best of the best!

Sponsors: 

  • Our 7-Day No-Spend Challenge Workbook! You are about to be spending more money than usual so why not prepare with a no-spend week? We’ve created a free mini-workbook that will help you plan, execute, and reflect on your no-spend challenge so that after 7-days you know what you need to work on moving forward and you have an action plan to do so. So if that sounds like something you need head to frugalfriendspodcast.com/free to get yours.
  • Apps. But not the phone apps (they getting enough attention on today’s episode). It’s the food appetizers we’re talking about right now. And for us frugal friends we know that if we’er ordering a meal at a restaurant, we skip the apps. HOWEVER, if we want to be real frugal we know how to make a whole meal out of those apps. Apps, tinier meals but just as flavorful.

For more on this topic check out EP 81- Our Favorite Money Making and Saving Apps 

Headlines

What the Internet has to say:

This article from The Balance lists out some of the best personal finance apps of 2021.

What Jen + Jill have to say:

  • Mint – most well known and widely used
    • Automatically imports transactions for free
  • Personal Capital – great when focusing on building wealth
    • One of Jen’s favorite
  • Spendee
    • Best for shared expenses
  • YNAB – best for debt payoff
    • Idea is assigning every dollar a job, and this is based on the money you actually have in your account (not what you will have!). 
    • Essentially a Digital Envelope system
  • Prism – best for bill pay
    • Shows all bills and financial accounts in 1 place
    • Tracks bills and sends due date reminders to avoid late payments 
    • Can pay directly from the app – eliminates the need to login to multiple accounts
  • EveryDollar – best for budgeting
    • Zero-based budget method
    • Monthly expense tracker – shows amount spent and how much left to spend in each category

More from the Internet:

This article from Real Simple gives even more personal finance apps that are useful for various categories

More from Jen + Jill:

  • Qube – great for banking AND budgeting
  • Perch
    • App to build credit, does not charge fees
    • Can utilize netflix, subscriptions, etc. to show as credit history
  • Capitalize 
    • 401(k) rollover service
    • Useful for making it easy to transfer previous 401(k) to new employment
  • Carefull
    • For those managing finances for a loved one
  • Categories of budgeting, investing, banking, debt pay-off, credit, shopping, life events, etc.
  • Ando – best for ‘banking in good conscience’
    • They invest in eco-friendly and sustainable businesses
    • No fees or balance required 
  • Fidelity & Vanguard
    • Vanguard – low cost digital advising
      • Input savings habits, goals, and risk tolerance and the bots put together a recommended portfolio
    • Fidelity spire – recommended for young people
      • Input your goal and deadline and they advise on investment accounts that will help get you there
  • Reel – best for debt-free purchases
    • Helps set up a savings plan for a specific item
    • Fund it automatically with daily or weekly contributions from your bank account
    • Theres also a group reel function allowing others to send money to the account

BILL OF THE WEEK –   Thank you Stevi for sharing your bill about a good samaritan helping you when you car broke down

If you want to submit your bill of the week visit frugalfriendspodcast.com/bill to leave us a bill

Thanks Capitalize for sponsoring this week’s bill! Capitalize is an independent platform that helps you find and roll over an old 401(k) into an IRA of your choice – for free! Their rollover experts handle the process from start-to-finish, including calling the 401(k) provider on your behalf, completing paperwork, and sending faxes. So start your rollover at frugalfriendspodcast.com/capitalize.

Lightning Round 

Our most used apps 

  • Jen-  Personal capital, google sheets, M1 finance – savings for rental property, raise – discounted gift cards, dosh – cash back app
  • Jill-  google sheets for budgeting, other specific apps for saving money at my favorite places, splitwise for eating out and traveling with friends

Wrap-Up:

Thanks so much for listening! Keep leaving us reviews on iTunes or Stitcher, and sending the screenshot to frugalfriendspodcast@gmail.com AND share our most recent episode on social for a chance to win a copy of the Frugal Friends Workbook!

Thanks for listening! See you next week!

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