iPhone Life Magazine

Finance Apps

GROW & MANAGE YOUR MONEY

- BY HALLEI HALTER

YNAB (You Need A Budget) ($6.99/Month) If you want a clear picture of your budget and to make a plan for allocating it, link your bank account to YNAB. This app allows users to assign every dollar earned to a category, be it a bill, savings goal, or an allowance for impulse buys. YNAB rolls with the punches, so if you go over your predicted budget for hobby supplies, you can cover it by lowering your limit for another area, like dining out. Prism Pay Bills, Bill Reminder (Free) Know you have bills to pay but can't remember their exact due dates? Skip the late fees with Prism, a bill tracker that displays all your upcoming expenses along with how much money you have in your linked bank account. This helpful app is connected to over 11,000 (and growing) service providers, so all you have to do is swipe to make payments. If you'd rather not pay via the app, Prism will still send you reminders about upcoming due dates.

For Couples

Twine (Free) Operated by insurance firm John Hancock Financial, Twine appeals to couples to invest in a joint financial portfolio and reap the benefits in their relationsh­ip. Members can work toward a savings goal or expand into stocks and bonds. Each portfolio is handled by a robo-advisor, which analyzes the pattern of contributi­ons and goals to provide advice. While the app is free, handling investment­s incurs fees, including $3 a year per $500 invested. M1 Finance (Free) M1 allows users to build a diverse financial portfolio without standard broker fees or commission­s. Create your pie chart of investment­s using automated suggestion­s from the app or customize your collection of stocks yourself. Not only is this app completely free to use, but another big draw of M1 is that it allows you to purchase fractional shares so you can invest whatever amount of money you're able to put aside. SoFi (Free) If you're looking for a loan at competitiv­e rates, check out SoFi. SoFi does things a little differentl­y than other personal finance companies, as it weighs a lot more than just your credit score in order to vet borrowers. SoFi offers mortgages, personal loans, home improvemen­t loans, and more. Members also enjoy perks they won't get from typical lenders, such as student loan refinancin­g that includes unemployme­nt protection.

For Building a Nest Egg Qapital

(Free) Qapital is a banking and investment app that encourages its users to save money by creating rules to meet specific goals. For example, you can round up the cost of all small purchases to $5. The difference is deposited to a savings account for your designated goal, like a vacation. You can transfer your savings into your regular account at any time.

Expensify

($4.99/month) Managing a business or profitable hobby and need to keep track of what money is going where? Keep track of your spending with Expensify. The app scans receipts and automatica­lly enters fields such as name of business and price totals. Expensify can keep tabs on work- and travel-related expenses such as gas, food, and lodging, and even integrates with accounting software such as Quickbooks. Debt Payoff Planner & Tracker (Free) If you're actively paying down debt, this app can show how far you are from the finish line. Debt Payoff records the amounts of your loans (plus interest) and payments to show your gains each month via a percentage graph. You'll feel more secure with a clear timeline of when you can expect to have your debt fully paid. A paid membership is available with upgraded features like payment reminders and additional charts to illustrate your progress.

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