Knowing how to properly manage your money is an important skill to have, especially in college. Between paying rent, buying food, and going out, things can get expensive. Whether you are relying on an allowance from your parents, trying to stretch your summer earnings, or working a part-time job, making your money last starts with having a budget.
Sticking to a budget may sound lame, but it will help you develop smart spending habits that you can carry with you long after graduation. Not sure where to start? There are hundreds of free applications that can help manage your finances with a click of a button.
Below we share our 5 favorite budgeting and money management apps to help you take control of your finances.
This popular money management and financial tracking app seamlessly connects your bank accounts and credit cards so you can better manage your spendings. Mint automatically categorizes your transactions and tracks them against a set budget that you can tweak and customize to your personal needs. Additionally, the app can send you notifications when you go over budget or when it’s time to pay your bills. Mint even provides free credit score monitoring!
If you have developed an online shopping addiction while in quarantine, Slice may be the app for you. It stores all the details of your online purchases in one place. From your receipts to the shipping information, this app will help you see how much you are really spending on online orders. It even sends you a notification when your package ships so you know when to expect your package to arrive.
This money management app lets you split a bill with large groups (up to 100 ways!), making this ideal for going out to restaurants with friends. CheckPlease calculates tips and splits the bill between everyone in your group so you will never have to worry about covering a large bill and dealing with the hassle of Venmo requesting everyone individually.
As the name implies, PocketGuard can help guard against overspending. The app links to all your financial accounts and helps track your spending, follows what recurring subscriptions you register for, deposits, and everyday expenses. PocketGuard even has a feature that can scan individual bills and find opportunities to save. For example, if PocketGuard sees a recurring phone, TV, or Internet service bill that you are overpaying for, the app will suggest other services that may better suit your needs at a lower cost.
If you work a job where you get a bunch of cash tips, Mvelopes can help divide your cash into different spending categories and when each envelope is empty, your monthly budget for that category is all spent. Although cash isn’t the easiest way to budget, Mvelopes makes it easy to help keep you on track.