Saving money can be tough. Whether you’re trying to start saving for something special or just want to better manage your money, there are tons of helpful money management apps and hacks that can help you reach your financial goals.
Struggling to figure out what’s on your credit report and what it all means? Credit Karma is a free app that allows you to keep an eye on your credit reports and learn why certain factors influence your credit score. The app uses software to estimate your credit score based on the same factors credit bureaus like Equifax and Transunion use, such as number of accounts, credit limits, on-time payments and more.
Credit Karma also offers a variety of other services, like free ID and credit monitoring, Credit Karma Savings, Credit Karma Tax, and their all-new Relief Roadmap, which helps you explore debt-relief options. This app is a great tool for everyone, whether you’re just learning about credit or you want to take extra precautions to keep your finances safe.
Mint helps you easily track your spending by connecting all your financial accounts in one place. You can set budgets based on your monthly bills, check your credit score, get personalized financial advice and more. It’s perfect for bringing all aspects of your finances together so you can make sure everything is accounted for.
Want some extra help cutting down on expenses? At Cellular Sales, we can perform a free account analysis to make sure you’re not overpaying for a plan that doesn’t fit your needs. We can also help you check subscriptions you might be enrolled in but no longer use and check current phone trade-in prices to make sure you’re upgrading your phone at the right time. Swing by your nearest Cellular Sales location for more information.
If you’re living paycheck to paycheck and find it nearly impossible to save, You Need a Budget is the app for you. It’s designed to help get you out of debt and build up your savings account. First, sync up your bank accounts with the app. Then, the software will help you create budgets for every aspect of your life – bills, shopping, gas, childcare, etc. Once you have your budgets and goals set, YNAB helps you stick to them and build good financial habits. The app is free to download, but the full version of the software required an annual subscription.
When you think of investing, most people think you need thousands of dollars to start with. Thankfully, there’s a simple, stress-free way to get started called Acorns. Acorns takes your spare change and automatically invests it for you. For example: if you spend $3.60 on a coffee, Acorns will take $0.40 and invest it. Plus, earn bonus investments from over 350 brands when you shop with them. With Acorns, you’ll find that your spare change can really add up over time.
Other Money Tips and Tricks
Here are some other easy money saving hacks and tips you can use to get your savings account started and cut down on spending.
Similar to how Acorns uses your spare change to invest, most banks have a round-up program that collects your change from your debit card purchases and automatically places it in a savings account for you. It’s an easy way to start building up your savings account without even thinking about it.
Christmas Club Accounts
You may have heard your grandma mention her “Christmas Club” account when you were a kid. Even if the name is a bit outdated, most banks still have accounts specifically dedicated to saving for Christmas. These accounts allow you to start savings for the holidays all year long rather than buying gifts all at once. Typically, once October or November is here, the money in this savings account automatically transfers to your checking account so you can start checking items off your list.
The Envelope Method
The envelope method, made famous by well-known financial guru Dave Ramsey, is a great way to physically budget your money. Similar to budgeting apps, you create an envelope for each part of your budget – bills, groceries, fun money, etc. – and fill those envelopes with the appropriate amount of cash for each budget. The goal is to not spend more than what’s in the envelope, since the program says you can’t borrow from other envelopes. Many people find this hands-on approach super effective in creating and sticking to a household budget.
Using Cards with Rewards
If you already have a credit card or are looking to get one, check to see if they offer additional rewards when you spend. For example, when you pay your Verizon bill using the Verizon Visa Card, you’ll get up to $100 in credit applied to your wireless bill over the first 24 months. Plus, using your Verizon Visa Card anywhere it’s accepted earns you Verizon Dollars. These rewards can be redeemed for the best things at Verizon.
Managing money can be confusing and overwhelming, but it doesn’t have to be. Hopefully these apps and tips will make it a little easier to get started and build healthy habits.