In this new blog post I will cover the question “Are Money Management Apps Safe?”. Instead of writing down all your expenses and keeping track of other financial stuff, You now have the ability to download apps that will help you with that. I will give you all the possible options that are out there so that you can make the decision for yourself. I do suggest that if you are not keeping track of your finances then please use this post as a guide to getting started.
If you haven’t caught up with my other post then below will be links to read them. Thanks for supporting the blog!
- Is Cardano ADA A Buy Or Pass For New Investors?
- The Case For Buying $UWMC
- Creative Ways To Save Money In 2021
- 15 Simple Tips On How To Save Money
- Redditor Explains Why GME Will Squeeze
Are Money Management Apps Safe?
To answer the question blatantly, yes they are safe. Of course like all apps that you sign up for there is always that probability of being attack from hackers. With money management apps, you have the ability to keep track of everything financial all in one place and personalize what you want to your liking. This can be bills, pay day, investments, etc.
What I like most with the money management app that help watch my spending is being able to set budgets on what I spend and get alerts If I go over. This gets me in the habit of knowing how much I should spend on individual things like eating out, bills, advertising, etc. I like being able to just open up an app that have everything right there instead of writing it all down in a notebook, excel, or notes on my iPhone.
Now I will go over all the apps that I use for keeping track of finances and investing.
When I started getting into wanting to keep track of what I spend and be able to budget, I came across an app called Mint that does just that. When I finally used the app for a whole month I was shocked by how easily you can go way over budget when you’re not following all the purchases you make. I highly suggest that young adults get into using an app like this early on because a lot of you will be lazy if you had to manually enter expenses yourself.
2) Credit Karma
This app helps me keep track of my credit score and looking at the balances of my credit cards. Every now and then I will check the app to see how I am doing and the app will also give you alerts if your information has been apart of a hack. It will tell you what information could be comprised and how to protect yourself from that.
I remember getting this app in high school and not even investing. My friends and I would just look at different stocks and imagine how much we could make if we were investing before certain companies grew. I don’t have much invested into stocks right now, but I will be getting more into it once the fractional shares feature comes out. So if your a senior in high school and are thinking about investing, get this app now. You will have the opportunity to invest a little bit of money into stocks like Amazon, Apple, Disney, ect without paying full price.
Side Note: click the link here and both of us will be able to get a free stock!
Now I have just started using this investing app and it seems really simple. It does take a while to verify your bank but after that you can get right into it. This app will take your money and invest it into fractional shares. You have the ability to choose a Conservative, Moderately Conservative, Moderately, Moderately Aggressive, and Aggressive portfolio. The app will give you questions to answer and pick the category that best fits you, but I think that you should do your own research to pick the best one. Now I barely just started investing with Acorns and only invested $25.
Side Note: Use this link Here to get $5 to invest in Acorns!
This is my portfolio and how my money is invested.
Like I said, I barely started and only put a little bit of money into the app. I will be adding more and doing a review on the app in the near future.
I hope that this post has given you more insight to money management apps and if you should download them. They are really useful when dealing with personal finance and investing in your future. All the apps I am using above is what you should be downloading. I will link videos down below about what other people are using.
Thank you supporting The Finance Starter and Be on the lookout for the next post.