Over-spending is the national pastime. We all do it, and we all pay for it later. Maybe this is the year you’re going to rein in your spending – not just talk about it, but actually do it.
The good news is that there are awesome money saving apps that will help you save money now and for your future.
They say a penny saved is a penny earned. The Acorns app not only saves you money, but it goes one step further – it makes you money. In case you were asleep at the wheel, let us repeat that – with Acorns, you make money! And the best part? You get it without lifting a finger, except to download the app! (Which, by the way, works on iPhones and Androids.)
Here’s how it works in practice: If you order a Stella on your credit card for $4.25, the Acorns app rounds up the purchase to the next dollar, and deposits that amount (in this case, .75 cents) into an investment portfolio, like Pimco or Vanguard, that you choose. Over time, it adds up. Cha Ching!
This app automatically analyzes your income and spending patterns and then moves a small fraction of your savings to another account that it manages. Essentially, Digit helps you find and save pockets of money without having to think about it. You can withdraw your money whenever you want, without hassle or fees.
The Mint app, which is no youngster (born in 2006), gives you a 10,000-foot perspective on your financial holdings – your credit cards, checking and savings accounts, and investments. Download Mint and you can also pay your bills and monitor your credit score.
The Level Money app begins, like Mint, by analyzing your financial data, recurring bills, and savings goals. Then it basically becomes your dad, telling you how much money you are allowed to spend each day, week, or month. Do what the dad-app tells you, and you will find it much easier to reach your financial goals.
“Really, you spent that much on a dress!?” Don’t break up over it – get the Good Budget app instead. Now you and your partner will always be on the same page for budgeting and spending. Here’s how the software works: You create “envelopes” for your expense categories, such as rent, utilities, and grocery shopping. Then, you put money aside for each envelope.
Rather than just tracking your expenses, Good Budgeting forces you and your partner to plan ahead. Finally, the days of being shocked by an unexpected expense are over.
Human beings like to have fun. Saving money is not fun. But it’s vitally important – your quality of life now and in the future depends on it. Make 2017 the year you take control of your spending, rather than letting it control you.
Here is to a safe and prosperous 2017!