Best Finance Apps For Beginners To American Money Systems
Many of the financial tools you need are right on your phone! We have the best finance apps for beginners to the American money systems.
Part of being financially healthy is managing all aspects of your financial life. Thanks to all of the apps available, that’s easier than ever. You can see critical financial information right on your phone, 24/7, no matter where you are or what you’re doing, as long as you have smartphone reception!
But there are a lot of finance apps out there, and not all of them are created equal. Some of them aren’t user-friendly, and some are more complex than a beginner needs. We waded through dozens of apps to find the best finance apps for beginners.
We’ll look at the best budget app for iPhone and Android users, the best personal finance app for those who frequently send money home, the best budget planner app, and the best money-saving app.
Best remittance app
Maybe the most essential app for newcomers to America is a good remittance app, so they have a reliable, affordable way to send money and pay bills back home. Remitly is an online company that lets users send money and pay bills quickly from the U.S. to more than 90 countries.
Pros
Speed. Money is received in minutes when you use a debit card.
Cost. Remitly’s Economy option has fees as low as $3.99 and charges nothing to send amounts over $1,000 to some countries.
24/7 Customer service. Users can access phone and chat support around the clock.
Cons
Slow delivery. Yes, the Economy option is cheaper than other options, but transfers from a bank account can take 3-5 business days.
Sending caps. Remitly limits the amount of money that can be sent. Limits range from $2,999 to $10,000, depending on how much identification information you provide. This cap is lower than some remittance companies, and other companies have no cap.
Fees. When using a credit card to fund a transfer, you’ll pay an additional 3% of the transaction amount.
Best budgeting app
Mint is a free personal finance app that is far and away the best money management app out there. Mint offers several features, but where it really shines is its budgeting capabilities. Creating and maintaining a budget is one of the most impactful things you can do, and Mint makes it easy.
Pros
Easy to use. Once you connect your financial accounts to Mint, it pulls in all the data for you and categorizes it.
Cost. Mint is free!
User friendly. Both the app and desktop versions of Mint are easy to navigate.
Comprehensive. Mint gives you an overview of your finances, including your credit score.
Cons
Synchronization. Occasionally Mint loses access to one of your linked accounts, and you have to go back in to reconnect it.
Limited currency. Mint only supports transactions made in U.S. or Canadian dollars. For those who send money home or receive money from home, tracking those transactions in Mint will be a hassle.
Best money-saving app
A credit card is a great way to build credit, something that is essential to American financial life. But many credit cards charge various fees which can add up over time. Petal is not only a fee-free credit card, but it’s a cashback reward credit card too.
Pros
Easy approval. When you don’t have a credit history, it can be hard to get approved for a credit card. Petal relies on other forms of information for approval.
No fees. Petal doesn’t charge an annual fee or foreign transaction fees, something especially important for immigrants who may make credit card transactions in their home countries.
Credit building. Petal reports to all three major credit bureaus which helps build your credit history.
Cashback. 1% cashback on all eligible purchases and up to 1.5% back on eligible purchases after making 12 on-time payments.
Cons
No signup bonus. Some credit cards offer special rewards for new users.
No intro APR. Some credit cards offer new users lower interest rates for a set period of time.
Finance on the go!
Being able to access your finances right from your phone makes it easier to stay on top of your finances. Upwardli is an on-the-go financial app too! We can help you find the financial tools you need to build and manage your new financial life in America.
