Latest posts by R.J. Weiss, CFP®
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Isn’t it helpful to know if your investment portfolio has the ideal allocation designed to minimize risk and maximize returns?
Isn’t nice to know some quick actions you can take today to increase your credit score?
On a simpler level, how about having an app that allows you to earn cash back for both in-store and online purchases (that has a 4.5 rating and over 33,000 reviews)?
Up until a few years ago, my favorite financial tool was an excel spreadsheet. It required some work but I was able to spot trends, track the important, and make good decisions based off the information.
Today? There’s dozens of apps that can help you track, manage, and improve your finances far easier. Let’s take a look at 3 of the best free personal finance apps, that can help you manage your money better.
The 3 Best Free Personal Finance Apps
# 1 – Personal Capital (My Favorite)
Rating: 4.2 – 2,647 votes
Devices: iOS & Android
Before Personal Capital I had to login to over a dozen different financial accounts to track my finances. Then, I’d insert the information into an excel spreadsheet.
Now, I login into Personal Capital to see everything in one place. This holistic view of my finances allows me to properly allocate my resources and spot trends. Not to mention, saves me A LOT of time.
How can Personal Capital help you make better financial decisions?
Here are a few features you’ll enjoy:
- Net Worth Overview – Personal Capital updates your net worth automatically each time you login. You’ll get a pie chart of your assets, as well as a historical chart of your net worth.
- Track Your Cash Flow – While budgeting your money is helpful, it does take time. Personal Capital tracks your income and sorts your expenses by category automatically, so you get an accurate picture of your cash flow.
- Fee Analyzer – They’re called hidden fees for a reason, they’re hard to spot. Personal Capital has a tool called the Portfolio Fee Analyzer that uncovers any hidden investment fees you’re paying and how they impact you.
- Portfolio Optimization – Is your portfolio optimized? Personal Capital has a free Investment Checkup Tool. This tool compares your current portfolio allocation to the ideal target allocation designed to minimize risk and maximize returns.
- The Best Retirement Planning Calculator – Are you on track for retirement? Personal Capital’s Retirement Planner allows you to know exactly where you stand relative to your retirement goals. As it uses real-time information, it’s my choice for top retirement calculator on the market.
Personal Capital is free to use and takes less than a minute to sign up. You can even get access to a low-cost financial adviser, if interested.
After years of tracking and updating excel spreadsheets, Personal Capital is the comprehensive financial app I’ve always wanted.
Rating: 4.3 – 20,960 votes
Devices: iOS & Android
Your credit score is important. Like it or not, a good credit score can save you tens of thousands of dollars.
For example, let’s say with a good credit score, you’re able to achieve a .25% lower rate on your mortgage. On a 30-year, $300,000 mortgage, at a 4% rate compared to a 4.25% rate, you’ll save $15,688 on interest.
Beyond your mortgage, a good credit score allows you to save on other loans, insurance, and even cell phone plans.
It’s important to know and manage this number.
The Credit Sesame App, can help you do just that. Here’s what you can expect:
- See your credit score for free, then get monthly updates
- Get personalized tips on managing your credit, based on your credit profile and goals
- Instant alerts for when an important change has been made to your TransUnion credit report
The last point above is worth signing up for alone. The Equifax hack has put the majority of the U.S. at a greater risk of identity theft. The quicker you identify a hack, the easier it is to recover.
# 3 – eBates (Get A $10 Signup Bonus)
Rating: 4.5 – 33,504 votes
Devices: iOS & Android
If you like saving money, you’ll love eBates.
As the top coupon and comparison app in Google Play, the eBates App saves you money in a variety of ways. This includes:
- Cash Back Rewards – Earn up to 40% Cash Back on almost everything you buy from over 2,000 participating stores.
- Instant Coupons – Save big with over 10,000 coupons, promo codes, offers and gift cards.
- Deals of the Week – Checkout eBates deals of the week to make sure you’re find the best offer on what you’re looking for.