5 Free Apps to Improve Your Financial Wellbeing
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Whether you’re a Rockerfeller or, like most of us, the other feller, we all love to get something for free. When that freebie can help you improve your financial wellbeing into the bargain, then it’s an attractive prospect. From big investments, to small savings, we look at some of the free apps that can help you to make and save money.
1. Manage Your Stock Portfolio
Free stock trading platforms really do exist, and some of them are pretty good! There are also tons of other investment-oriented apps, tools, and info platforms that give you the edge when planning and maintaining your stock portfolio. Most free stock trading apps do have extra functionality if you choose paid extras – whether you go for them depends on how much confidence you have in your investment smarts. If you’d like extra advice, there’s a small price tag which could well be worth it if you want to get a team of experts on your side. Need a pointer? Check out M1 Finance for starters.
2. Budget Your Way out of Debt
Not everyone has extra cash lying around for investments, in fact, 80 percent of people in the US are indebted. Plan your way back into the green with the help of careful budgeting and target high interest-bearing debts first. Need to budget and track progress on the move? Once again, free apps rule the day. Ensure that your carefully laid plans stay on track, save wherever you can, and be sure to use the money you’re able to save wisely. Thanks to the power of compounding, small savings can mean big benefits.
3. Price Comparison and Coupon Apps
Spending to save may seem like a contradiction in terms, but we all need to buy stuff, so buying it for less means savings and those savings can grow over time. There are plenty of free comparison shopping and coupon apps, but are they worth it? Here’s the spoiler. Unless you have a lot of time to plan your shopping and hunt for coupons, it’s not going to be huge. Extreme couponers claim massive savings, but the key is “extreme.” All the same, even if you don’t have tons of time, a penny saved is a penny earned, and it won’t hurt to scan available coupons and compare a few prices before you set out on your shopping trip.
4. Gamify Good Habits With a Savings Challenge App
Living within our means can be pretty tough even when unusual expenses don’t crop up. Turning it into fun with a free savings challenge app could help you and your family to build good spending and saving habits. Admittedly, the annual savings from a typical challenge don’t amount to much, but if you keep at it or up the ante on the standard challenge, the cumulative results will be very good.
5. Micro Investing Apps
These little guys come with charges, but Acorn provides free services to students. We’ve left micro investing till last because you’ll more than likely get micro savings from it. In essence, these apps round up your purchases and invest the extra small change. Once you reach a certain target, you can free up your savings. While some folks really like these apps, there are likely to be plenty of others who just give up before reaching their target, and that means free money for the business that created the app. It also doesn’t teach good habits – just makes you feel like you’re saving without having to make any effort. Having said that, it works for some, and if you do see it through, you get a cute little cash boost when your target is reached. Need something more concrete? Good old-fashioned budgeting advice is still the best way to go.
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