Money management is an art which Includes budgeting, investing and managing. You can track your finances with the smart phone apps.
It is crucial to keep track of your finances to lead a comfortable life. Many people focus on saving their majority of income while others believe in spending and living in the present.
These days, in times of digitalization, when we can get everything at one click, the financial sector is no exception. More and more things can be managed and checked on a smartphone.
Many applications are specially designed to manage your finances and provide a detailed summary of all the expenses, income and investments.
In addition, they have detailed information about your spending giving and helping you with areas that require savings.
Few of the following apps stated below help you save your information and process as per your choice. These apps utilize open banking and are regulated by the Financial Conduct Authority.
Cleo is an application that is designed with a target towards the youth as it is swift and fast-paced. It also allows winning cash and making money via various games and quizzes.
Along with this money-making feature, it also assures the security of its users’ data. With all these features, in 2019, it was voted the Best Money App. Cleo is FCA-registered and free of cost.
- Money making opportunities by winning cash
- Makes money management easy, interesting and exciting
- Simple and trouble free
- Explanatory and engrossing blog posts
One of the unique features of Cleo is the human touch. ‘She’ uses Artificial intelligence to communicate with its customers like a real person.
It is like talking to a real person as you can ask questions via the app, and she will answer like you are communicating with a friend. This attractive feature of Cleo makes it lively and exciting to use.
It uses the latest technology. In its blogs section, all the tips and advice are mentioned in a demonstrative manner with memes and gif.
It has a separate section by the name of “Money Diaries” which provides insight and summary of the spending and saving of its users.
Cleo’s financial specialists respond with appropriate bits of advice on how to deal with your finances smartly and give detailed analyses.
With another feature, Cleo makes your experience worth it. If you put your financial information, Cleo gives an honest analysis of your spending habits under the section “Roast me”.
Plum is another application which is similar to Cleo but comes with a subscription fee. It follows the same pattern of Artificial Intelligence like Cleo. Plum was launched in 2016
It is also regulated by FCA and ensures not to share its users’ data, maintaining its privacy and confidentiality.
- Rounds up the amount to save more for you without noticing
- Saving modes
- Beginners investment
Plum rounds up the small amounts by using simple methods without bringing into notice simultaneously keeping track of your spending.
It offers different moods for saving ranging from “beast mode” to “shy mode”. Beast mode targets a higher saving, whereas shy mode targets a lower saving relatively.
Emma is another good option helping you in managing and tracking your money. Its tagline says ‘your best financial friend’ and is a free app like Cleo.
It is designed to assist you track your debts and put aside your savings, avoiding overdrafts and cancel uneconomical subscriptions.
This app also ensures the safety of your data and is registered with both the Commonwealth and Foreign Office and the Information Commissioner’s Office.
It ensures data safety by using several state-of-the-art security measures.
- Helping cancel excessive subscriptions
- Syncing your finances with your payday
- Data security
Emma is best for budgeting and tracking all your accounts in one place, i.e. your investments and pensions. It helps in avoiding overdraft fees and pay off debts on time.
It syncs your income with your payday to manage your money during that time and avoid any financial pressure.
It has a notification feature which notifies about paydays and the amounts to be paid. Also, it notifies about the payment refunds if there are any.
We tend to buy many subscriptions in a month and forget about them gradually if they are less useful. Emma helps you stay informed about all your subscriptions by bringing them into notice and eventually cancelling it.
With the subscription feature, it creates a monthly financial report with an overview of the total monthly income and spending.
Moneyhub is facilitating people since 2009. It is FCA registered and useful for both business and personal use.
- Having in house real-life financial experts
- ‘Forecasting’ future financial position
Moneyhub gives an analysis of your present spending and how it will impact your future. It takes into consideration every activity and aspect and then tells you about your future financial position as per the data stored.
With in-house real financial experts, it gives a clear picture of how can you invest in the future and save more.
The art of managing money
Money management is a task that helps you enjoy your present simultaneously saving it for the rainy days. Many people are not able to manage their finances, leading to bankruptcy and financial instability.
In that case, many people go for loan options since many direct lenders offer loans without guarantor options with easy repayment terms.
It is essential to learn the art of money management to avoid any financial burden and live a stress-free life.
Description: This blog reflects the applications which are helpful for managing your finances along with budgeting and investing.
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