5 Apps to Improve Your Financial Situation

Once upon a time, financial management required a lot of patience and effort.

Not anymore. Today’s financial and credit management apps make it easy to handle everything involving money, from building and managing a budget to improving your credit score.

You have many choices when it comes to these tools. And we decided to help you out by researching and reviewing some top financial and credit management apps. Read on to learn more!

How Apps Can Help with Financial Management

Financial management and credit management apps offer convenience and help you save time. Before these apps were around, managing finances involved a long process. You had to set up a budget, and then you needed to record your income and expenses. And all of this was usually done by hand.

It took time to write everything down, which often drove people away from budgeting. The result? Overdrawn accounts, overextension on credit, or living from paycheck to paycheck.

Not anymore. Today’s financial and credit management apps assist you so you can stay on budget, monitor your credit, and save money. Even better, these user-friendly apps mean financial management is no longer a chore. You can manage your spending and focus on credit with a few mouse clicks (on your laptop) or taps (on your tablet or smartphone).

The following apps rank high in “best-of” lists and can help you get a handle on your finances.

Best Financial Management Apps

Financial management apps assist you with everything involving money. A well-rounded financial management app helps you budget, estimate bills, and save money. Some can even lower your bill payments. Read on to learn more.

You Need a Budget

You Need a Budget (YNAB) is aptly named. This personal finance app is designed — yes, you guessed it — to help you budget.

But YNAB works differently from other financial management apps. It operates through the zero-budget method rather than through your previous spending habits.

In other words, YNAB helps you direct each dollar to a specific bill or debt payment. You know what part of your income pays for which expense ahead of time. YNAB also recommends ways in which you could “age your money.” In other words, use your last month’s pay for this month’s bills. This app allows you to organize your expenses, pay off debt, and be less stressed about money.

YNAB also offers a resource page about various finance areas, like steps to pay off debt and tips to stop living from paycheck to paycheck.

The one downside to YNAB is that it isn’t free. The cost is $14.99 monthly (or $99 for the entire year). But the company offers a 34-day trial period, allowing you to test-drive the app.

Rocket Money

Previously known as Truebill, Rocket Money makes financial information available through one convenient interface. All your bank and investment accounts are in one location to help you track where your money is going. You also receive spending notifications, low-balance alerts, and customized budget tools.

Another fun feature is the “autopilot” savings. This feature lets you direct money to savings accounts with little effort and avoid overdraft fees.

There’s also a “Learning Center” with content involving everything financial. You can learn about investment, debt, credit, budgeting, savings, and real estate loans.

The above services come free. You can get other services for a small extra monthly fee (a sliding scale ranging from $3- $12). These include bill reduction negotiations and a “cancelation concierge.” The latter seeks out your subscriptions and cancels them if you no longer use them.

Best Credit Management Apps

You need to know your credit score when applying for a loan. This is where credit management apps come in.

The ones we list below give you clarity on your credit health with help from user-friendly interfaces and help monitor your credit activities. A couple of these apps can also help you improve your credit and even heal your credit score.

Credit Karma

Credit Karma’s many services include credit-score monitoring provided by Equifax and TransUnion credit bureaus. You also have access to plenty of resources, like blogs about improving your credit score and reaching your financial goals. Credit Karma offers a Credit Builder function to help increase your credit score. The app also helps if you’re overwhelmed with debt. The “relief roadmap” connects you with government support and debt relief options.

Additionally, the app recommends financial products from Credit Karma partners, like credit cards, savings accounts, and home loans. Another plus: Credit Karma can help you search for owed, unclaimed funds.

Credit Karma’s suite of services is available to you for free. The company earns money if you use the app’s recommendations for financial products.

Credit Sesame

Credit Sesame offers three things: credit score, credit report, and credit monitoring. Also included? Tools to help you save money.

Credit Sesame relies on TransUnion credit bureau’s VantageScore 3.0 scoring model to analyze your credit score. You also have the opportunity to build credit through the app and review resources about credit, savings, and investments. Plus, Credit Sesame provides recommendations on financial products like loans, credit cards, insurance, and other financial services.

The Credit Sesame app is free, as are the basic services. A monthly premium can supply you with more bells and whistles, such as a daily credit score update and credit reports from all three credit bureaus. You can also access dispute resolution, identity theft insurance, and rent reporting.

myFICO

myFICO, as suggested by its name, is the same organization behind the FICO scores used by lenders. Now all this information is available to you through this app.

myFICO’s main benefit is its comprehensive data and credit intelligence. But unlike Credit Karma and Credit Sesame, myFICO isn’t a free service.

While myFICO tools are available via subscription, you can access the app’s resource center for free. Information includes tips on improving your credit, credit scores, and loan calculators.

Pair These Apps With Jora Credit

The apps mentioned in this article can help you improve your finances and credit management activities. But even with these apps, you could find yourself short of cash. If you need extra funds to pay for unexpected emergencies or to get you to the next paycheck consider Jora Credit. It only takes a few minutes to apply. You could receive your funding on the same day!* Also, take advantage of Jora Credit’s educational resources.