10 Money Management Tools That I Genuinely Enjoy Using All The Time
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These days, it seems like every time I turn around there's a new money app or tool with interesting features, cool sign-up offers, and engaging game-like apps. But with so many tools out there, how do you decide what to actually use???
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So to help you cut through the noise, I wanted to share the 10 money apps and tools that I personally use alllll the time:
Of course, financial advice and money tools aren't one-size-fits-all. The things that work just right for me might seem not-so-right for you. Always do your research, and choose a tool that makes sense for your budget and goals.
1.Mint
2.Yotta
Yotta is a savings account where the more you save, the more chances you have to win prizes like a new Tesla or $10 million. For every $25 you deposit, you get another ticket for their weekly lottery, and a number is drawn every day. So far in July, I've earned 6.65% back on my savings, which is absolutely huge compared to the average savings account (a measly 0.05%). In addition to prizes, you also earn a guaranteed 0.2% interest. My biggest prize so far was about $10, and the smallest was 15 cents, but knowing that I could get lucky and win big keeps me in the game.
Plus, my winnings go right into my account, which adds up to more tickets. It really motivates me to save more money, and I love knowing that my emergency fund is working harder for me here than in a traditional bank. If this is sounding too good to be true and you have questions about how it works, check out this great AMA with Yotta co-founder Adam Moelis. It's legit.
Where you can get it: Apple App Store or Google Play
How much it costs: Free
3.Drop
4.Slide
5.Experian
Experian is one of the three credit bureaus in the US that compiles consumer information into our credit reports. And they're the only credit bureau that actually lets you see your FICO credit score for free. If you're in the US, your FICO score is the one that gets pulled for most lending decisions, so it's kind of a big deal. I get emails from Experian when there are changes on my credit report with them, and they also offer a service called Boost where you can report your utility bills and streaming subscriptions to pump up your scores. I reviewed Boost recently if you're curious and want to learn more.
Where you can get it: Sign up for an account on their website
How much it costs: Free to start, but you can upgrade for more features
6.Credit Karma
To keep tabs on my other two credit reports with Equifax and TransUnion, I like to use Credit Karma. Like Experian, Credit Karma notifies me when new info gets added to my Equifax and TransUnion reports, which is super helpful. When my score was in the 500s, this was the first site I used when I got serious about fixing my credit, and I love how it teaches you about your scores and how to read your report. However, you should take the scores that they show with a grain of salt. Credit Karma shows VantageScores, which are great for educational purposes, but they don't necessarily reflect what a lender would see. Sometimes they're really close to your FICO scores, but other times, not so much. So even if Credit Karma is showing an excellent score, I'd still double-check my FICO on Experian before applying for a new loan or credit.
Where you can get it: Sign up for an account on their website
How much it costs: Free
7.Honey
8.Acorns
I started investing with Acorns in 2018 with a $5 deposit. Back then, I was on a pretty tight budget, making about $36,000 a year, and still paying off credit card debt. But I was really motivated and excited to grow my money. Acorns appealed to me because you can set up automatic deposits and also use roundups to invest the change from your purchases, and you don't have to choose investments. Instead, you can pick a portfolio based on how much risk you're comfortable with.
At first, I put in $5 a week. As my income has gone up and down, I've upped my contributions at some times while pausing them at others, which is super easy to do in the app. In addition to my regular Invest account with Acorns, I also opened a Roth IRA, so I can save more for retirement too. Today, I feel extremely privileged to have over $4,000 stashed away in my Acorns accounts, and it all started with one small deposit.
Where you can get it: Sign up for an account on their website
How much it costs: Starts at $1 per month
9.SoFi
10.QuickBooks Self-Employed
Is there a money management tool that you truly love using? Shout it out in the comments.
And for more money tips and tricks, check out the rest of our personal finance posts.
