Managing your finances doesn’t have to be overwhelming. With the rise of financial technology – sometimes called fintechs in the banking world – there are now countless tools and apps designed to make budgeting, saving and investing easier than ever.
Here’s a quick guide to help you make the most of your wallet:
Budgeting Apps: Track Every Dollar
Budgeting is the foundation of financial health, and the right app can make it simple.
Top Picks for Budgeting
- Rocket Money: Rocket Money can help categorize your spending, give you alerts when you’re nearing your spending threshold and analyze your income streams.
- YNAB (You Need a Budget): Designed to give every dollar a job (called zero-based budgeting), YNAB is great for proactive money management.
Pro Tip: Link your bank accounts to these apps for real-time updates and deeper insights.
Learn more about how to set up a successful budget with our budgeting tips.
Savings Tools: Automate Your Future
Saving can feel daunting, but automation makes it easier and ensures consistent contributions, whether you're building an emergency fund or saving for a vacation. OMB’s online banking platform allows you to set up recurring transfers, utilize free Bill Pay and so much more.
Investment Platforms: Grow Your Wealth
Investing no longer requires a stockbroker or significant capital.
Beginner-Friendly Platform
- Robinhood: Great for beginners looking to trade stocks with no fees.
This platform often includes educational tools, making it easier for beginners to learn about investing. You can also open an OMB Stock Rewards Checking account, which takes a percentage of your monthly debit card spend and invests it in the form of fractional shares of your favorite stocks. You can also manage this account digitally with ease through online and mobile banking.
Check out our beginner’s guide to investing for the future for even more tips.
Debt Management Apps: Tackle Loans and Credit
Struggling with debt? These apps can help you pay off loans faster.
Apps to Consider
- Debt Payoff Planner: Visualize your progress and strategize payments.
Debt management apps can be life-changing when paired with a clear strategy.
Read our article on strategies for managing and reducing debt to really help you get ahead.
Financial Wellness Platforms: A Holistic Approach
Want to improve your financial literacy while managing your money? These platforms combine education with tools.
Notable Tools
- PocketSmith: Provides detailed financial forecasts based on your spending habits.
- Zeta: Perfect for couples managing shared finances.
Financial wellness platforms can help you make smarter money decisions and align your finances with your life goals.
OMB’s Money and More blog also has a section dedicated totally to financial literacy. Our site also has a wide selection of calculators that can help you do everything from calculate loan payments to compare savings rates.
Final Thoughts: Smart Tech, Smarter Decisions
With so many apps and tools available, managing your money has never been more accessible. Start by identifying your goals—whether it’s budgeting, saving, investing or paying off debt—and choose the tech that fits your needs.
Ready to take control of your finances? Begin exploring these smart tools today. Small steps now can lead to a brighter financial future!
OMB and its affiliates do not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decision.
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