Are you one of the many people who need a little help when it comes to saving money? The phrase you hear often these days, “there’s an app for that” certainly applies. That’s because many of the newest applications employ clever methods for urging you to boost the amount of cash that ends up in your savings account, piggy bank or cookie jar. What’s the secret? The two-fold approach combines reminders and high-level computational ability, all rolled into a small chunk of computer code that you can download to your phone, computer or tablet.
The simplest, but often most effective, tactics remind users that it’s time to save a designated amount of money into a named account, like and IRA or passbook. Others use sophisticated math to help people see the bottom line on loan refinance deals, budget tweaks, estate planning summaries and vehicle lease or buy decisions. The market is currently overflowing with all sorts of code-based programs that assist consumers who want to spend less and retain more of their hard-earned cash. The following list includes some of the top-selling versions.
For some people, it’s just a matter of being reminded about the need to sock a few bucks away on a regular basis. Some of the free products let you download code directly to your phone or PC. After that, set your alert times and dates to get a gentle or very loud reminder to put money into a savings account at designated times.
Student loan refinance programs are an effective way to cut monthly bills, obtain a lower interest rate on your education debt, and get more time to repay. How can apps help? Before you even decide to re-do your agreement, you can dry-run different scenarios based on what your monthly cost would be based on varying interest rates, see how a longer repay period will look, and compare your monthly budget before and after the deal.
Monthly budget analysis
Budget analysis applications are some of the most sophisticated products in this niche. Not only can they synthesize your entire list of income and expenses, but they’re fully able to analyze the data, make recommendations and track everything over time with the goal of minimizing unnecessary expenses and free up extra money to contribute to retirement and provide funds to improve your investment strategy. Downloads are free except for business versions that can handle massive amounts of numerical information. In a way, these programs serve as robo-advisors and personal financial counselors, as long as you feed them enough data and set up preferences correctly.
Vehicle lease vs. buy analysis
One of the coolest of the new entries in this field helps answer the question, “should I lease or buy my next vehicle?” In fact, lease vs. buy apps have been around for more than a decade, but the new breed offers lightning fast decisions, user friendly interfaces, no fees, and super detailed reports. The biggest fans are small business owners, who often have trouble crunching the numbers when faced with purchasing or leasing a small fleet of cars, trucks or vans. Some of the more complex products in the niche cost around $20, but it’s possible to use cloud-based versions that are free.