You may spend as much time as you like studying the skill of investment or determining where it is most advantageous to establish a deposit and acquire money. However, real financial education begins with individual budget planning.
Various applications have been already designed by fintech software development companies and we have compiled a list of the top 5 apps to assist you with.
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1. Acorns
Acorns is a universal app for financial well-being investment, which makes saving and investing simple. But while micro-saving is still their main incentive, Acorns does much more than just deposit your extra funds.
You can start investing before you retire, open a bank account and set up an investing fund for your children, among other things. Acorns examines your card spending habits and rounds each operation to the closest whole number by connecting your card and bank account. It transfers the outstanding amount from your existing account to the Acorns account you set up.
Acorns app is a significant beginning position for those who haven't tried investing yet or require a little guidance at the start, and you can really make money using them to invest.
2. Digit
The Digit app is intended to assist individuals who are unable to stop their money spending. It assists the owner in saving money by slowly shifting funds from the key account to the other.
Digit estimates the cost of each write-off given historical cost history, actual balance, and a variety of other parameters. Furthermore, no transfer is made without the owner's permission.
One more distinction between Digit and other budgeting software is that it does not provide expense information. There are no charts on the online version; instead, you can see how much funds are now in the primary account and the amount that has been moved to the secondary account, and what the average number of withdrawals is. The app sends the subscriber a message with the same data every day. A message is also sent with the billing request.
3. Wealth
Wealth simply provides world-class long-term investment management with no minimum account size. Your account is investing in a diversified portfolio of exchange-traded funds (ETFs) focused on low-cost index funds. This helps you to develop a portfolio that is invested in thousands of different companies and in many major sectors around the world.
The service includes automatic balancing, reinvestment of dividends and collection of tax losses. In addition, Wealth simple financial advisors are available to you when you need them. It can be an exceptional platform, especially for new and small investors who historically could not afford access to these services.
4. Chime
Like many online banks, Chime keeps its costs low by investing heavily in technology and eliminating brick-and-mortar exits. However, they also have the foresight to focus on their mobile platform. They were recently recognized by Apple as one of the top money saving apps.
The app simplifies setting a direct deposit, transferring money between your accounts, searching for an ATM and viewing recent transactions.
The app is responsive, intuitive, and it has the necessary information. You can see recent transactions, account balances, how to find an ATM and related account balances. It's quite simple to pay the bill or transfer money directly into the app.
5. Qapital application
The American Qapital application successfully plays the role of a piggy bank, it is enough to download the application. The client starts a separate savings account in Kapital and sets up automatic transfers from his bank. Various replenishment triggers are linked to
spending a regular credit card. Someone postpones the change for the future (paid $2.63 – postponed $0.37), someone – a percentage of specific purchases (half of the restaurant bills).
The most progressive innovation of Qapital is the connection to IFTTT. Instagram Facebook post – saved $2, posted a photo on Instagram – saved $10. It seems that this technology is a record of digital transformation for today.
Someone once said, “The bitter truth is better than a sweet lie,” and in finance, it is better to know your financial capabilities for sure than to get into loans, and then be horrified that there is not enough money for groceries.
Today, thanks to smartphones, we can not only make a quick calculation (forgetting about calculators and Excel tables), but also get a kind of advice from a pocket financial consultant.