Personal Finance ─ Many of us want a life without financial distress. A life where we don’t have to constantly think about money, particularly the complexity it often brings. In fact, in many cultures, it is even taboo to talk about it openly, let alone disclose financial information ─ such as how much we make, if we are in debt, and if we have “enough” to cover our lifestyles. It certainly sometimes brings tension and awkwardness to discuss our financial circumstances with others, even to our close friends, family members, or even to a Financial Advisor or Expert.

Thus, most of us want to keep it as private and as personal as possible. The amazing thing is that now more than ever, we have a plethora of personal finance apps that aim to help achieve this for us. Something we can rely on without the need to feel shame or guilt about our “unpleasant” financial circumstances or the choices we made. Most importantly, it helps us to destress and see things in a more quantifiable and objective manner.

This article will explore some of the best apps to achieve just this.

Kickstart your Financial Journey with these Five Personal Finance Apps

1) Acorns

A micro-investing app that fits perfectly for people who do not have much to invest with. An amazing and intuitive app, it rounds up your debit and credit card purchases to the nearest dollar and automatically invests the small difference in your selected investment choice. Although this difference is small, it could accumulate into something tangible in the long run while not even feeling that you’re setting money apart to invest.

2) Digit

Digit uses AI technology to set aside small amounts in your bank account. Once you set up a goal, it will tuck away small spares from the budget you allotted for a particular expense to save. Your bank account will only show what is “available” for you to spend minus the savings Digit has set aside and of course the expenses you want to be paid. Thus, helping you limit your discretionary spending spree.

3) Varo

Varo helps you build your credit history without opening an unsecured credit line, like a proper credit card. Instead, you will be opening a “secured credit card,” which is backed by the amount you deposited (which, by the way, earns interest on the side) and the credit card does not incur any interest. Plus, your card payment history will be reported as credit history, enabling you to build a stronger credit score by just using it to pay your regular expenses.

4) Prism

A “bill-pay app,” Prism can connect with thousands of billing companies, including your utilities. It automatically tracks your due date and the exact billed amount. The app will eliminate the hassle of remembering your due dates and the hassle of paying your bills on multiple platforms.

5) You Need a Budget (YNAB)

Lastly, probably the most famous personal finance app, YNAB, is known for being a one-stop shop for almost everything you could need. Its personal financial management has four simple key rules. 1) Categorize your expenses, 2) Put money aside for significant expenses, 3) Set money aside for emergencies, and 4) Live below your means. To accomplish these, YNAB can sync all your bank accounts, has goal-tracking features, convenient and easy-to-digest report, and has many educational materials to help you in different aspects.

Looking Forward to a Brighter Future

At the end of the day, the most crucial thing to develop is a good financial habit, and these apps will help you tremendously with that. Living a stress-free financial life will undoubtedly take time, yet the minor improvements you make moving forward in managing your finances will go a long way. Indeed, a slow but rewarding process that your future self will thank you for.

“Sometimes the smallest step in the right direction ends up being the biggest step of your life.”

– Naeem Callaway