Evaluating Security for the Best Money-Saving App in 2025
Money-saving apps are revolutionizing financial technology, making saving easier and more enjoyable. These apps, available for both experienced and new users, offer a variety of tools and strategies to help build up your bank account. All you need is a checking account and a smartphone. These apps inspire saving habits without overthinking, but it’s important to review the terms and conditions before sharing your bank data with these apps.
The benefits of using a money-saving app
The best money-saving apps of 2024 will automatically move small amounts of extra money into designated savings buckets on a regular basis, assisting users in developing strong savings habits. The strange sums that are left over after frequent checks are easily saved with the help of these instruments. Online high-yield savings accounts from internet-based banks may provide larger returns than their traditional brick-and-mortar equivalents once a sufficient cushion has been built up through frequent little deposits helped by the best budgeting solutions. Furthermore, certificates of deposit that mandate that money stay in the account unopened for a specified period of time may increase returns for people who are positive they won’t need to access the money until it matures. Over time, savings can be accumulated by scheduling recurring transfers with the help of the best money-saving app in 2024. Among the best money-saving app in 2024 in no particular order include:
QUICKEN
Quicken’s personal financial software Simplifi approaches money management in a novel way. It is best for managing finances. It includes great options for tracking expenses, investing, budgeting, and more. It’s enjoyable to use thanks to the simple user interface.
Strong transaction tracking, a customizable budgeting tool called Watchlists, and an intuitive dashboard are some of Simplifi’s best features. The software provides a comprehensive view of spending and income by importing bank transactions. Users can examine portfolio details and set savings targets. Additionally, Simplifi offers powerful reporting features.
Normally, the app costs $47.88 yearly, but right now, it’s only $2.39 per month. Its cost is less than comparable premium services, even though it excludes a credit score like some rivals.
Simplifi offers creative methods to divide transactions and classify expenses. Users may keep track of anticipated refunds, make notes, and flag products. Recurring charge detection and reminder notifications are provided by the app.
Although Simplifi doesn’t establish set budgets, customers can monitor their spending goals and available finances over time with the help of its Watchlists and Spending Plan features. These tools automatically enter expenses from transactions that have been classified.
Because Simplifi is a product of a well-established corporation, data security is also a top emphasis. Financial information is safeguarded with multifactor authentication and encryption. Simplifi, as a whole, approaches personal finance management in a contemporary manner, emphasizing user data protection, helpful analytics, and customisation. To get started with quicken, click here
GUAC
Guac provides a variety of adaptable savings guidelines, ranging from options based on percentages to fixed amounts. Guac is best for saving while you spend. It is possible for users to set up direct deposits for automated savings. The app is appropriate for both inexperienced and seasoned savers. While more seasoned users value extras like cashback benefits, novice users can quickly become productive thanks to easy features.
Security is first focus, and savings are protected up to $250,000 by FDIC insurance. For user convenience, the app is available on both mobile and online platforms. In order to provide suitable tips that go beyond simple savings, auto-tip technology examines daily balances and spending.
For a complete financial picture, users can link bank accounts, debit cards, and credit cards. Notifications of purchases can prevent overdraft costs.
Apart from its saving features, Guac promotes user participation in financial decision-making. Goals and expenditures are combined with cashback benefits and percentage-based regulations. The pricing structure’s transparency fosters confidence.
Guac has established itself as more than simply a savings tool by offering a robust blend of automated and customized features that are ideal for a wide range of customers and their objectives. The app’s high rating of 4.6 out of 5 highlights how easy it can make saving money.
OPORTUN
Oportun is a microsavings platform that uses automated transfers to assist customers in gradually saving small sums of money. Although significant savings are unlikely, the software tries to instill a habit of saving. Along with savings objectives, users may now use the platform to manage monthly costs, create long-term investments, and budget.
Access to savings and investing tools on the app requires a $5 monthly subscription fee. When trading ETFs, there are no percentage fees or commissions. Try it for free for the first thirty days.
In addition to the subscription charge, Oportun also receives revenue from instant transfer fees and interest on cash holdings. Up to $250,000 in FDIC insurance protects savings. Information is protected with the use of security techniques like encryption.
Some consumers would want a more transparent savings methodology, even though savings transfers are automatic. Upgrades can include better interest rates or rebate incentives for purchases, similar to what rivals provide.
Although the software is authentic and takes security seriously, refunds are not assured. Depending on personal circumstances, the $5 charge may or may not be beneficial. Those who find it difficult to save manually might gain more than regular savers. It’s also important to take underlying investing fees into account.
Oportun is a helpful choice for budgeting, one-stop financial services, and automatic savings. For committed investing, alternatives like Acorns might be preferable. For long-term objectives, robo-advisors may provide greater investing freedom at reduced costs.
You Need A Budget YNAB
As the name suggests, the app is best for budgeting. With YNAB, users create a zero-based budget in which each dollar generated is allocated to debt, savings, or expenses. It enables tracking expenditure against user-set budgets and bank account connectivity for the purpose of importing transactions.
The app has a 34-day free trial and costs $14.99/month or $99 annually. Compared to other programs, it requires more manual management because users must consistently allot funds, classify transactions, and keep an eye on budgets.
One of YNAB’s unique features is its color-coded progress bars, which fill up when monthly budgets are fulfilled. Additionally, graphs and charts monitoring spending patterns and net worth over time are produced by its reporting tool. An account can be shared by up to six persons.
Its pricing is more than most competitors’, and it only allows zero-based budgeting. However, it connects accounts and provides useful tracking. It also doesn’t have the investing tools, bill negotiation, or subscription cancellation that several alternatives provide.
According to the publication, YNAB is the greatest option for customers seeking a comprehensive budgeting process. Customer satisfaction with the elements that help manage money and financial goals is good, despite the fact that it needs human labor, according to comments. The suggested alternatives provide more automation or different approaches to budgeting.
Goodbudget
The envelope method of budgeting is used by the software Goodbudget. Users that use the envelope system divide their income into various “envelopes” or categories, such as savings, bills, and other expenses. Then, in order to keep within their budget, users keep track of the money coming in and going out of each envelope.
Creating household accounts with Goodbudget enables you to co-budget with others. For shared households, all modifications are synchronized across devices. It is not, however, connected to any other financial instruments or accounts. Users need to import files or manually record transactions.
To replicate the traditional envelope technique of tracking funds, the app uses digital envelopes. This aids users in reaching their financial objectives, such as debt repayment or saving for major expenditures. Reporting tools show trends in income and expenditure over time.
Positive reviews may be found for Goodbudget on both iOS and Android platforms. Both free and paid subscription versions are available. While the Plus edition, which costs $8–70 annually, gives unlimited functionality and email assistance, the free version only offers a restricted number of envelopes and devices.
The straightforward design that emphasizes the envelope budgeting strategy and the instructional materials that assist with financial planning are its main advantages. It does not, however, have the automatic features that other apps have, such as investment tools, credit monitoring, or transaction import.
Goodbudget is a better app for family budgeting than YNAB, which is comparable but requires a monthly fee. YNAB offers more sophisticated money management features. In conclusion, Goodbudget is a straightforward but efficient budgeting tool that employs the tried-and-true envelope system methodology.
ROCKET MONEY
An alternative to Mint for the budgeting app is Rocket Money. Rocket Money is a smartphone and web application that allows users to monitor their income, bills, and expenses by connecting to their bank accounts. Transactions are automatically categorized, however users have the option to change categories by hand.
The free edition offers simple budgeting features like tracking expenses. The more sophisticated features of the premium Premium version, which is billed annually and costs $4–12 each month, include automated savings targets, personalized budget categories, credit score and report monitoring, and net worth tracking.
The cost-effectiveness, the user-friendly interface, the range of alert choices, and the intelligent savings accounts and goals are among the salient characteristics that are emphasized. For a fee, Rocket Money can also bargain bills on behalf of customers in order to secure reduced rates.
Among the drawbacks are the limited features of the free edition, the absence of investment guidance and debt payoff planning, the ongoing testing of budget sharing, and the fact that not everyone can use the standard monthly budgeting method. Bill negotiation fees are furthermore applicable.
In terms of security, Rocket Money collaborates with Plaid and employs robust encryption, instead of retaining login credentials. Financial data is normally safe, but it could be compromised by misplaced or stolen gadgets.
The post presents Rocket Money as a strong Mint substitute by assessing it as a feature-rich but user-friendly budgeting tool. Essential tools are available in both paid and free editions, but access to additional capabilities necessitates a low-cost premium subscription. There are additional highlighted alternatives.
ACORNS
Acorns is an investing program that facilitates microinvesting by novice investors to get them started in the stock market. With Acorns, customers may round up their transactions to the closest dollar number and invest the extra change from regular purchases. This eliminates the need for big upfront deposits by allowing customers to start small and increase their investments over time.
In its capacity as a robo-advisor, Acorns invests users’ spare change and additional contributions automatically into a portfolio of about 25 inexpensive, diversified exchange-traded funds (ETFs) that includes over 7,000 stocks and bonds. A user’s timeline, risk tolerance, financial objectives, and other details are taken into account while customizing their portfolio. Index trackers, such as the Vanguard S&P 500 ETF, are examples of ETFs. Individual equities cannot be traded at the moment, but the company intends to change this in 2022.
Acorns provides IRAs (Traditional, Roth, SEP, 401k Rollover) and a kid’s account in addition to the main investing account. The Round-Ups tool, automated rebalancing, and hands-off portfolio management are important features. It is up to the users to select an ESG portfolio. A checking account with contemporary banking services is also offered by Acorns. Resources for education assist users in learning about investment.
Depending on the plan, Acorns costs $3 to $5 per month, which could reduce minor returns. It is advised to make additional, regular deposits for higher value. Some robo-advisors, like as SoFi and Robinhood, may provide free basic accounts and administration costs in addition to being commission-free. In conclusion, Acorns is an easy-to-use platform that allows total novices to experiment with diversified, passive investing with as little as spare change.
Conclusion
With so many excellent options available, choosing the best money-saving app in 2024 will come down to individual needs and preferences.. Whether you’re searching for features for investment, multi-user budgeting, or automated savings, this evaluation showcases the best options that could help you make the most of your money in the coming year. Carefully considering each app’s pros and cons may help you determine the clear winner to claim the title of best money-saving app in 2024.