When it comes to money I would say I have a masters degree at spending it, but totally fail at saving and investing. I try my best but inevitable end up saying “where did all that money go?!” Don’t even get me started on the stock market. The whole thing confuses me and stresses me out. But I know that responsibly managing our money should be at the top of our priority list at all times. That’s where my brother comes in. He happens to be one of those genius financial guys. Like scary smart- I have no idea how we’re related.
He turned me onto several apps that have literally changed the way we approach our finances and have made a huge difference to my family. The best part? Most of these apps take less than 15 minutes to set up and require relatively little work to keep up with.
The first app I would recommend is Mint for budgeting. I know, my skin crawls too when someone says the word budget, but this app makes budgeting pain free! At the beginning of each month, you set up your budget goals. They have a category for everything; groceries, date night, vacation, bills, alcohol, movies, you name it. Then you link your credit or debit card to the app and it automatically tracks your purchases. The app will alert you if you are getting close to going over budget which makes it so easy to stay on track. The best part is at the end of the month if you have room in a few other categories you can move that money to say your shopping budget and get something for yourself without feeling guilty! #WINNING This app has literally eliminated my need to ask “where did that money go?”
This next app is all about saving. Qapital helps you save money without changing anything which is amazing. Take for example the roundup rule which I use; I tell Qapital to round up every purchase I make to $2.00 and automatically put that money into my savings account. So if I go to Target and spend $23.25 Qapital will put $1.75 into my savings account. Does your husband love sports? Link Qapital to his favorite sports app and tell Qapital to save $5.00 everytime his team wins. I started the roundup rule about two months ago and totally forgot about it. I checked my app yesterday when I started this post and had already saved $200!! My plan is to continue to use the roundup rule to help me save some extra cash for Christmas. How wonderful would it be around the holidays to discover you had quite a pile of cash you didn’t expect for gifts?! Click Here to download the app and get started!
The part of finance I hate the most but know is the most necessary is investments. Let me be clear I hate investments so much because I literally don’t understand it. I don’t know the tax rules regarding buying and selling. I don’t know a lot so I always just avoid it. I also realize how important investing is. Our retirement, college savings, all of these things are of the utmost importance and that’s why M1 has saved my life.
M1 allows you to buy or sell any stock in the world at the touch of a button. The part I really love is for someone like me who does not know the stock market they have custom portfolios that are each designed for different goals. The app has a series of questions that will help you determine your short and long-term goals and help you choose which portfolio is right for you. After that, it basically works like a savings account. You link the app to your bank account and when you set up your deposits the app will automatically invest your money into your portfolio so you can track the progress. It’s that easy.
Finally, M1 does not charge you per trade. The app has a low yearly fee for unlimited transactions. I cant tell you the weight that has been lifted off my shoulders from using this app. I know that may sound silly but I’m a full time working Mom. I never seem to have time to worry about the most important things like money and investing. To know that this app is helping me safeguard my families financial future while not capitalizing a ton of my time is incredible! Since we opened our account about six months ago our portfolio has grown over 10%. We all know the stock market is a tricky game so I cannot promise you will have the same results. But I can say that this app will make investing extremely easy. Click Here to get started from your PC or this link from your phone.