Let’s face it… managing your finance’s may not always be the easiest nor timely matter that consumes your busy day. With the thousands upon thousands of mobile applications available to millennials, these are the ones that I have personally used and can say are very rewarding to have on your mobile device. If you have any I haven’t listed, please don’t hesitate to include in the comments!
Whenever I heard the idea of this app from my fraternity brother I was mindblown. It was certainly one of those “Why didn’t I think of that?” moments that we all have from time to time. Acorns will link to your personal debit or credit card and round up & invest the difference in the next dollar of your purchase. For example, if you buy a $1.50 coffee, $.50 will be contributed to one of the 5 risk investment portfolios Acorns offers. A great app for anyone who wants to get their feet wet in investments.
Robinhood’s main selling point is that it offers commission free trades. This has been unheard of until recently (brokerage companies typically charge a “trade fee” which results from $5-$10 per trade) and while Robinhood makes their money on interest from uninvested cash you should do everything in your power to make yours! Simply deposit a few dollars into the app and execute a stock trade within minutes! This is another great app to get you involved with the stock market and offers stock selection, unlike Acorns.
Cash or Venmo
Both apps are extremely useful and pretty much do the same thing so take your pick! These apps provide you with an instant money sending service that is linked to your personal bank account and is as easy as sending a text! I have heard of friends using this to pay utility bills, pizza collection money and even saves you when you forget your wallet at home! This app should definitely be added to your mobile device.
Do you hate spending $2.50 every time you have to go to an ATM? If you are like me and live on the complete opposite side of town to the bank that you use this may be for you. Moven is a personal budgeting app & debit card that can help you keep on top of all of your purchases by categorizing them into an easy to read graph so you can always be on top of where your money is going. Along with no ATM fees, you can send and receive money to anyone in the world all within the app.
Mint Bills allows you to link all of your personal accounts into one place and..well…pay bills. Even though it’s not the most glamourous finance app it is definitely useful! You can set up bill reminders and paying bills within the app takes 45 seconds at most. This is a very easy app to use and is essentially a necessity when you are out on your own!