Is There An App For That?

Financial apps are all the rage ranging from budgeting, to investing, to keeping track of our bills. There seems to be plenty of apps available. However, are any of these apps really useful? Will they make a difference in your financial life? We have reviewed 4 apps for personal finance to see if they are worth the snuff. Here's our take:

1. Mint

Mint is an app that covers your holistic financial life. Mint is free and it allows you to key in your online login for financial accounts. Mint is helpful for budgeting, creating goals, and aggregation of all accounts. Mint was acquired by Intuit. Mint is made for the masses but one drawback is that it does not hone in on investing capabilities. 

Our Rating: 8/10

2. YNAB (You need a budget)

You need a budget is focused on budgeting only. It does one thing and it does it very well. YNAB does not have bill pay or investment tracking capabilities. YNAB is free for the first two months then charges $6.99 per month. YNAB is great for reducing debt and trying to manage your cash flow. 

Our Rating: 8.5/10

3. Personal Capital

Personal Capital is a leader in the industry and meshes budgeting and investing seamlessly. Personal Capital does not have bill pay capability. Personal Capital has a retirement planner, 401k analyzer, and a wealth management service. Personal Capital also has a beautiful design that makes it easy to use and understand. This is our personal favorite. 

Our Rating: 9.5/10

4. Dave Ramsey's Everydollar

Everydollar is a budgeting app that is based off the zero-sum budget. This means, every month, you are telling your money where to go so that you "give every dollar a job." There is a free and paid version for $99 annually. This follows Dave Ramsey's baby step theory. The interface is easy to use but the free version has very limited capability. 

Our Rating: 7.5/10

final thoughts:

You can't go wrong with any of these 4 apps. However, they are designed for different purposes. Pick Mint if you want a simple, overall view of your finances. Pick YNAB if you are trying to figure out how to budget and stay on track. Pick Personal Capital if you have a good grasp on your finances and want to manage your investments. Pick Everydollar if you like zero-sum budgeting and are new to budgeting. 

What are your thoughts? Have any apps we missed?