The Role of Technology in Personal Finance

Money management is key to reaching your goals, and technology makes this task faster, safer, and more effective than ever before.

Credit score apps make it simple and secure to monitor how lenders perceive your financial health, and make adjustments as needed to improve it. Transactions are encrypted for added protection against hackers.

Empower

Empower is a complete money management solution, connecting bank accounts for tracking spending and income tracking and setting savings goals automatically through AutoSave feature. Furthermore, Empower offers a free 14-day trial followed by monthly subscription fees of $8.00; additionally it has a debit card that lets users earn rewards.

As with many robo-advisors, Empower aggregates all your account information in one convenient place for easier comparison or analysis. But unlike competitors such as Betterment, Empower does not charge fees to use. Furthermore, its read-only information prevents hackers from accessing passwords or account numbers without your knowledge.

Rocket Money

Rocket Money (formerly Truebill) is an all-in-one personal finance app that categorizes spending and shows users where their money has gone. Additionally, the app connects to your bank accounts to give an overall picture of your finances as well as offering bill negotiation features that help save money.

This app utilizes various security practices to safeguard your information. These include not storing bank login credentials on its servers and working with Plaid, an established service for financial data connectivity that many other FinTech apps rely on.

The app enables you to set a savings goal and automatically deposit that amount into an FDIC-insured account. Based on your spending patterns, it then uses AI technology to determine how much should be saved monthly.

Mint

Mint is a free app that analyzes your spending habits and offers budget suggestions for each category you can track, as well as tracking savings and investment accounts. Users have also given it high reviews. Furthermore, its Instagram-inspired user interface has received great praise. Lastly, there are alerts available to remind of bills due, overspend incidents or credit card interest charges.

Budget Planner allows you to set budgets on either a monthly or custom period basis. It enables you to categorize transactions and view an overview of expenses such as groceries, utilities and restaurants. Furthermore, an optional financial coach provides expert advice tailored specifically for you – this service is owned by Intuit which also produces TurboTax, QuickBooks and Credit Karma among many others.

Simplifi

Simplifi offers mobile users a comprehensive yet user-friendly way to keep track of all of their finances in one convenient place, monitor daily spending habits and achieve savings goals. It integrates with over 14,000 banks and financial institutions worldwide.

Users can utilize custom watchlists to track specific categories, payees or tags of spending to protect against lifestyle creep and take control of their finances. The app also provides multiple savings goals so individuals can save for home, vacation and emergency funds simultaneously.

Simplifi makes it safe and simple to share finances in real-time with a partner or spouse without sharing login credentials – this feature helps couples better align on budgeting plans while increasing financial transparency to reach their shared goals.

PocketGuard

PocketGuard is a budgeting service designed to assist individuals in tracking expenses, creating savings plans and cutting down spending. This app does this by linking bank accounts, credit cards and investments together and tracking transactions as they happen – as well as detecting recurring charges, billing errors or suspicious activity that might otherwise go undetected.

Users can track their spending with the “In My Pocket” feature, which estimates how much money remains after subtracting all bills and expenses. Furthermore, the app may help users reduce bills by finding similar offers with lower rates for recurring services like cable television and cell phone services.

One of the distinguishing features of this app is its ability to help control overspending by setting daily spending limits. Furthermore, it can assist in paying off debts, improving credit scores and saving for future goals.