Technology can now ease our lives in ways we cannot even imagine. The software world has turned out to be truly amazing, giving us solutions to tackle our problems digitally.
Cannot manage your time? Don’t worry, there is software for that. Want to automate your business processes? There is software for that too!
So, saying that we are lucky enough to be living in a time when there is an app for everything would not be an overstatement. Apps are now a part of our personal lives, helping us lead a better life.
Similarly, finances are also a crucial aspect of our lives, but they are a sore spot for the majority of people. This is due to the crazy inflation and job insecurity. Combined with the pressure to maintain a certain style of living, these aspects can quickly push us under a mountain of debt.
This is why financial literacy has become a critical skill that everyone needs to learn to survive in this world. Don’t worry though, technology helps us tackle this problem as well.
The solution? Financial literacy apps. Let us learn more about these.
Importance of Financial Literacy
Finances are something that can define the kind of life we lead. Financial literacy is the only to ensure our spending decisions do not force us to accumulate huge debt or, worse, cause us to end up on the streets.
However, the sad part is that despite being such a critical modern life skill, it is still not taught to us in schools. Instead, as soon as we become adults, we are forced to face the consequences of our bad financial decisions.
Learning financial literacy can not only save us from going bankrupt, but it is also beneficial for us in so many ways. It can:
- Teach us debt management.
- Improve our everyday decision-making.
- Help us become independent and self-reliant sooner.
- Enable us to do long-term planning.
- Teach us ways to invest wisely.
But how do we learn it? There are many ways to learn how to be financially literate and make smart choices. One such way is using apps for personal finance.
Top 3 Apps for Financial Literacy
You can manage your finances by disciplining yourself and using Excel or Google Sheets. But, who is going to remember all the Excel formulas?
This is why we have apps that help us manage finances in super engaging ways. They teach feats like expense tracking, budgeting, tax management, and tips to spend wisely.
Some apps even integrate with your bank accounts, so you have a unified view of your finances. An important thing about such finance apps is that they are online and rely on a steady internet connection to perform fully. In case you don’t have reliable internet, you can check out Xfinity Internet deals for great internet at budget-friendly prices.
Now, let us see which apps are great for learning and implementing financial literacy.
MoneyPatrol
This app helps you stay on top of your finances by allowing you to track your expenses. It is a great app with a dashboard-like interface that helps you in feats like:
- Income tracking
- Bill tracking
- Budgeting
- Credit score tracking
- Receipt tracking
- Investment tracking
What I like about MoneyPatrol is that it is an all-in-one kind of app that can help you understand your spending habits, transactions, balances, debts, savings, and bills in one place.
You can sync it with your accounts and get a unified view of all your financial information. Moreover, on days when you feel like going into details, you can pull up charts and graphs of your finances to learn about your spending behaviors.
Lastly, you can also get insights on how to improve your spending and saving.
Wallet
This is a straightforward budgeting app that has a ton of financial functionalities. It has a great user interface that newbies can easily figure out. It gives you a simple but efficient view of every single penny.
Moreover, the app also allows you to:
- Sync your financial accounts together.
- Make custom budgets.
- Track your monthly utility bills.
- Set aside money for long-term savings.
- Discipline your spending with predictive alerts.
- Do budgeting with your partner or family.
It is easy to create custom budgets in Wallet for your unique financial needs. It doesn’t matter if you want to pay off your college debt or save up for a vacation. Wallet can make meeting your financial goals seem so effortless.
Lastly, their tips and insights also help you learn about your habits and find out problem areas.
Zogo
Although it is known as an app to help you earn while learning about finances, I will only focus on its ability to teach you financial literacy. It is not a budgeting app like the two apps I mentioned above. Instead, it helps you earn rewards as you complete each learning module.
Moreover, Zogo is great for people who want to learn financial jargon because it breaks down heavy concepts into small, digestible pieces of information. After completing each module, you get a quiz that tests what you have learned. In total, it offers 800 modules, some of which you can access after completing beginner modules.
As you go through each module, you will find yourself becoming familiar with financial terms and ways of improving your financial life. Then, you can implement your learning in real life and meet your budgeting goals.
All in all, these are just some of the apps I find useful in learning how to make good financial decisions. Beyond these, there are a gazillion more finance apps that you can use to lead a financially healthy and secure life.
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