When times get tough, people look for better ways to track and manage spending. That’s where financial tools like Mint and PocketGuard come in. These money management tools can help you take control of your personal finance, become more efficient at planning your budget, and be smarter when spending your money. These tools can even help you discover ways to achieve your long-term financial goals. You can learn more about how to achieve your financial goal here.
The main function of this money management software and tools is to help people create a workable budget. Some money management tools may get even deeper, providing a more specific budgeting approach. The good news is that we have plenty of tools to choose from, and choosing the right money management tool depends on your current financial needs. Some personal finance software can help you master budgeting and expense tracking, while others can help with investment portfolio management. You can learn more about money management tools here.
The good news is that we have plenty of money management tools in the market and all of them have the fearsome reputation of being powerful financial management tools that will help you manage your budget and track your expenses. Unfortunately, we’re not going to list them all, that would take much time and space. Instead, we will select only the best tools. Let’s dig into some of the key differences between these three money management tools.
Mint (Best Budgeting App )
First established in 2006 by Aaron Patzer, Mint is a personal financial management site and popular budgeting app for the North American market. In 2009, Intuit, the American software giant that produces TurboTax and QuickBooks, acquired Mint. Since then, the financial money app gained the confidence of the mainstream and has grown even much larger. Today, Mint has over 25 million users and has become one of the most downloaded personal finance applications in the market.
Using the Mint app, you can have all your financial things on a single dashboard, providing you a high-level view of your overall financial health. This includes savings, checking, credit cards, investment accounts, and other loan accounts. It can also help you automate your budgeting process and even help you find better ways to save money for your future goals.
Mint has become a top favorite for two reasons, first, the app is completely free and easy to use. You can use Mint on both iOS and Android-powered devices as well as desktop PCs. Second, the app boasts tons of useful features. It offers monthly bill tracking, including bill payment reminders to avoid expenses on late payments, or missed payment. The app also offers the ability to keep track of your investments, check your portfolio fees, and even access your TransUnion credit score. Not just that, users can also create budgets and even set financial goals.
There’s nothing to worry about data security. Mint uses security features like touch ID mobile access, multi-factor authentication, and security scanning with Verisign. The user’s login information is encrypted and stored in a separate database with multiple layers of added security protections, such as firewall, and software encryption. You can learn more about Mint here.
In addition to those features, the financial management tool also offers a few education resources like a financial blog, home affordability calculator, and loan repayment calculator. You can learn more about Mint’s education resources here.
Pocketguard (Best Financial Management App for Overspenders)
Founded in 2015 by Igor Kuznetsov, the PocketGuard money management app is designed for people who want to control spending and grow savings. Its main goal is to help users optimize their spending and help them save more money each month. Pocketguard earned the top spot as the best money management tool for people who struggle with overspending because its features were designed to help users control overspending. It helps people analyze their spending habits, providing them insight into how to wisely spend their money.
This money management tool helps you keep track of your expenses and cash flows. The app’s unique In My Pocket feature provides you with more precise figures about how much money you can spend. This feature also tells you how much spendable money you have left in your pocket. Pocketguard helps you can create savings goals and ensure you are on the right path to achieve your long-term financial goals.
PocketGuard mobile app is available for download on both iOS and Android-powered platforms as well as desktop PCs. The basic version is free to download from Google App Store and Apple App Store), but it has a number of limitations. The paid version, Pocketguard Pro, will cost you $4.99 a month or $34.99 a year, and it comes with a number of extra features. You can learn more about Pocketguard here.
Personal Capital (Best Investment Management App)
Founded in 2009 by a group of tech entrepreneurs, Personal Capital (now owned by Empower Retirement)is an all-in-one financial management platform with a strong focus on investment management. This web-based financial management tool offers people a smart way to monitor and manage their investments, retirement, and personal finance, all in one place.
Personal Capital includes several savings tools designed to help you build your emergency funds, retirement savings, and even help you pay your debt. It also has an excellent suite of financial tools, including an Investment Checkup Tool, a Cash Flow Analyzer, a Net Worth Calculator, a Retirement Planner, and an education cost planning. All of these financial tools are designed to help you build your future.
Like PocketGuard, Personal Capital also offers two versions, the basic free version, and the premium version. The free version includes a personalized analysis, while a premium version comes with direct management of your investments.
The Personal Capital app is currently available on both iOS and Android-powered devices. This financial management tool is rated 4.4 stars out of 5 on the Google Play Store, and 4.7 stars out of 5 on the Apple App Store. There’s also a desktop version, providing users a multi-platform approach to managing their personal finances. You can learn more about Personal Capital here.