Mobile Apps to Help Manage Your Money

As people of the digital age, many of us enjoy the ease of electronic transactions. In fact, less than half of Canadians use cash for retail transactions.1 Since spending has become so easy, it’s more important than ever to monitor spending (and saving) habits to keep your financial health in check.

The good news is that it is just as easy to track your transactions digitally as it is to make them. There are dozens of apps on the market to help keep an eye on your purchases and encourage you to make better spending decisions. Here are a few of our favourites!

 

The All-In-One App: Mint (free)

Mint is a great tool to help check in on your financial health. You can safely sync all your financial profiles like your bank account, credit cards, savings account, car payments, retirement savings and more. Available on desktop as well as mobile, Mint does a fantastic job visually describing your spending habits and making recommendations for improvements. For example, if you tend to dine out more than you should, Mint will set up a budget for you and send alerts for when you are nearing or going over your goal. Aside from this accountability tool, Mint can also help with debt pay-off and savings goals.

 

The Debt Dissolver: Debt Minder ($1.99)

Get a clear picture of your total debt and payment progress with Debt Minder. You can personalize your debt pay-off plan by going after your debt with the highest interest or tackling the smallest balance – whatever works for you! Debt Minder is all about personalization, with several debt categories (credit cards, student loans, etc.), charts and reports to see the bigger picture. It also has exporting capabilities for desktop.

 

The Money Maker: Checkout 51 (free)

Earn cash back on items you already purchase regularly at the grocery store with Checkout 51. Pick the items that appeal to you and upload a photo of your receipt via the Checkout 51 mobile app. You get paid out for every $20 in savings! A new list of offers is posted every Thursday and works at any store.

 

1 CBC News. (2015, May 14). Canadians pay cash less than half the time, Bank of Canada calculates. Retrieved February 24, 2016, from http://www.cbc.ca/news/business/canadians-pay-cash-less-than-half-the-time-bank-of-canada-calculates-1.3074732