7 features you’ll need in a money-saving app

If you’re looking for a way to save money, you need a money-saving app. These apps can help you track your expenses, set budgets, and even find coupons. But not all money-saving apps are created equal. So what features should you look for when choosing a money-saving app? In this blog post we will give you the 7 features that are essential for any money-saving app.

7 features that are essential for any money-saving app

1. Tracking your expenses

This way you can keep an eye on where your money is going and how much you spend daily/weekly/monthly on groceries, transportation, entertainment and more. You don’t have to do it manually or even type in numbers. It can be done automatically by linking your bank account, so there are no mistakes when entering data.

2. Goals

You need to know how much you earn and want to save for this month or year. There are great tools that let you set up these goals with an easy way of seeing the progress towards them every day/week/month. Once you see the numbers keep going up, you’ll start feeling motivated to make it happen faster.

3. Connecting multiple accounts

These apps work with all kinds of bank accounts and financial institutions. This way you can link them together and monitor everything related to your money at the same place (even if it’s an app).

4. Tracking your income

It’s what you need to do in order to see how much money you earn and how much goes towards bills, savings and other things. This way you can make a budget and know exactly where every cent is assigned.

5. Safe storage for sensitive data

These apps use cloud software which means they don’t store your details or information about your transactions on their servers. They only keep the links between your different accounts and what you’re doing with them.

6. Easy overview of spending habits

It’s easy to track how much you spend using this type of app because you can see all the numbers at once, just like in a spreadsheet. You’ll also be able to see how much money you’re spending in different categories and this will give you great insights on where your money is going.

7. Offering multiple payment options

The most popular apps let you pay for things using your bank account, debit or credit card, with a service like PayPal and even from your phone bill. This way you can keep an eye on your savings without leaving your account behind.

Now that you know what features you need to look for in a money-saving app and why they’re so important, let’s check out some examples.

Money-saving app

Penny

This is a free app which has helped thousands of users manage their money and save up every day, without any fees or charges. It connects your bank account and tracks everything you’re spending, so you can see where every cent is going.

You’ll be able to set up monthly goals and keep an eye on them with Penny’s charts and graphs. You can also connect different accounts, like PayPal and Venmo for one simple overview of all your spending.

This app is free to use, but you have the option of upgrading for added features, like being able to set up recurring transactions and getting alerts instead of paper receipts. Penny is available on iOS devices, Android smartphones and tablets as well as web browsers so it’s accessible from any device you own.

You Need a Budget

This is a budgeting app that can help you stay on top of your expenses and money management skills. It’s easy to use and it provides everything you need to track your income, expenses and savings goals. There are no complicated charts or calculators, just a straightforward way of getting your finances back in order.

It really stands out for its in-depth features and this is why many people decide to pay for it. You Need a Budget comes in two forms: the mobile app and the desktop version which you can install on your PC or Mac. It’s free to use, but if you want extra features like connecting payroll services and managing investment projects, you’ll need to upgrade.

Personal Capital

This is another free app with all the features you need to manage your money and stay on top of your savings goals. You’ll be able to see your accounts in one place, check spending habits, access detailed reports about where every cent goes and even set up custom categories for different types of expenses.

You can use Personal Capital on any device, but it’s especially helpful for PC and Mac owners since they can use it on their computer without having to rely on mobile apps.

Upgrading with Personal Capital is easy, thanks to the personal advice their team of experts offer. They’ll contact you by phone or email so you can discuss your options and create a financial plan suited to your needs.

MoneyStrands

This is an app for business owners which makes it easy to view all your company’s accounts, transactions and money management tasks, in one place. You can create budgets, identify trends and track how much you spend on different things so you know where every cent goes.

MoneyStrands doesn’t have a free plan, but the cost is quite affordable if you’re a small business owner and your company doesn’t have many expenses. It offers a 30-day free trial which you can use to check the app’s features and decide whether or not it suits your needs.

Banktivity

This is an award-winning personal finance app that has some of the best features, like customisable charts and graphs. Banktivity will help you stay on top of your expenses and manage your money with ease.

The app syncs with your bank accounts to track all of your spending and it organizes them into smart categories to keep things simple. You’ll be able to set budgets and make plans for the future, as well as analyze your financial situation and plan ways to improve it.

Banktivity costs $64.99 per device on a monthly basis but you’ll get several extra features with that package: like support, automatic updates and free online training for first-time users. The app is available on iOS devices and Mac computers, so it can be used on all your devices without any extra fees.

Spendee

This is another personal finance app offering a straightforward way to keep track of your spending habits and make plans for the future. You’ll get access to all your accounts in one place, along with detailed charts and graphs which you can use to analyze your income, expenses and budget.

The app is free of charge and you can use it on all your devices without any extra costs or subscriptions. You’ll get access to all the features you need for effective money management like assigning tags to each transaction, custom categories with different types of expenses, alerts for past due payments, offline mode support and more.

Mint

This is a free app and it’s likely the best-known budgeting tool on this list. You can use it to track all your accounts in one place, set budgets, plan for the future and identify areas where you can improve spending habits.

You can easily add new accounts (Savings, Credit cards, Loans, etc.) and manage everything from one place. Mint will create a sensible budget that you can stick to and it allows you to do all these things without multiple windows or constantly switching between apps.

The app syncs your data automatically and it even creates categories for expenses like groceries, restaurants and entertainment. It uses artificial intelligence (AI) so you can get an accurate picture of your financial situation and it also offers free credit score, alerts for past due payments and even goals where you can see how close to reaching them you are.

EveryDollar

This is a budgeting app that has helped thousands of people save more money. You’ll need to connect all your accounts and input how much money you get on a daily basis, but after that it’s fairly easy to stick to the budget and save every month.

You’ll have access to smart categories for your expenses where you can assign each expense a different spending rank. EveryDollar will automatically track all of your accounts in real-time and tell you when one of your expenses exceeds the preset budget.

You can use this app on all devices and it’s compatible with both iOS and Android so you don’t have to pay extra for compatibility with your smartphone. EveryDollar also has a Cash envelope system where you can allocate cash to different envelopes which will automatically track how much money is left in each one.

Wally

This is a handy budgeting app that lets you track your expenses and create plans for the future without much hassle. You’ll be able to see any spending patterns you have and use them to plan things like vacations or home improvements, so it’s likely one of the best options for absolutely everyone out there.

The main advantage of using Wally is that it doesn’t take too much time to get started. You can sign up in just a few minutes and start saving money right away, without having to monitor your expenses every single day and create custom categories for them.

The app automatically tracks expenses and tells you how much money you have left over at the end of each month. You can use Wally on all devices without paying for extra storage, so it’s likely the best app in terms of compatibility with all platforms.

The free version includes most of the features you’ll need, but if you want to access your credit score or get help from their support team then you’ll have to pay a small fee per month.

There are plenty of other budgeting apps out there, so if you want to try something else then you should definitely take a look at our list of the best money management tools . These apps can help you get started with your personal finance journey and teach important things like financial freedom. If you have any questions about how to save money or manage your budget, then don’t hesitate to ask us in the comment section below and we’ll try to help.