Nowadays, it is not easy to stay on top of your finances. We are constantly bombarded with messages about how we should be saving our money and what the best way to do so would be. Regardless of whether you are a student or an adult, there will always be some sort of pressure on your financial status. Due to this, it can become difficult for us to make decisions on how we spend our money and where we save it; but thankfully, there are apps out there that have been designed specifically for people like us! In this blog post I will list a few apps that I personally use which might help you too if you’re struggling in any area of personal finance management.
This all sounds good, but the question is which app worth getting? And the biggest question is whether or not they’re safe? Over the past year, I have spent my time investigating different applications and testing their capabilities myself to come up with an answer for you: some are better than others in certain areas while other may be more versatile overall so choose wisely depending on what your specific needs are as there’s no one size fits all solution when it comes down to this topic.
Below are the applications that I found worked best for me and why:
Money Brilliant– Home • MoneyBrilliant
For me, Money Brilliant wins hands down. From the number of apps you can integrate to and suggestions offered, it is a clear winner. The only real con for me would be that banks have not given their full-assent yet as with all external apps.
From Money Brilliant’s website: To ensure all your data is safe, we adhere to rigorous industry standards for transmitting sensitive financial information. We protect all data using advanced 256-bit encryption, equivalent to that used by banks. We do not store any of your bank login details on our server.
CommBank Portfolio – Banking – CommBank
CommBank Portfolio doesn’t have near the number of options and integrations as Money Brilliance, but we rank it second because there are low security risks. And hey – banks do know everything about us, so you don’t need to be worried with how much information you share.
Wallet by Budget Bakers – Wallet by BudgetBakers – Your New Personal Finance Manager
When I bought a new phone, an app came pre-installed and I gave it a shot by signing up for the free trial. The app had many useful features that optimized my financial life; however there were some minor issues like not syncing with certain banks or investment accounts. The app requires quite a bit of set up, and the Artificial Intelligence might be somewhat limited at this point in time, so I had to enter all my investments manually and would also have to update them if they went up or down or added more funds.
I stopped at three options, mainly because the rest of the apps out there were not designed for my needs. For example, Mint and QuickBooks are built specifically to help American users manage their accounts better while Rekon is more focused on accounting than anything else.
It’s important to note that some financial institutions may not allow certain apps’ access. Banks will disclaim any loss due to the use of third party apps. You should do your research before investing in an app, and read their terms of service carefully!