In the digital age, wallets are not only in their pockets but are also available right on the phone screen. Smart personal finance applications are helping users control each deposit, each savings deposit, in a simpler and more effective way than ever.
Technology has broken the psychological barrier to financial management, says Dr Laura Whateley, a personal finance expert at the London School of Economics (LSE). With just a few steps a day, you can see your financial picture more clearly than any Excel table.
mint (USA)
mint is one of the most popular spending management apps in the US. Users can connect to bank accounts, credit cards and e-wallets to track spending in real time. mint automatically classifies expenses ( catering, shopping, invoices, etc.), helping you easily detect "financial loopholes".
YNAB - You Need A Budget (USA)
This application is designed to teach you to budget instead of just taking a spending record. YNAB directs users to allocate each penny in a deliberate manner. This is a tool used by many overseas Vietnamese and office workers because of its extremely tight ability to create monthly spending plans.
Money Lover (Vietnam)
The application was developed by Vietnamese people, supports many types of currency and has a friendly Vietnamese interface. Money Lover is suitable for beginners in financial management, especially students and unskilled workers.
Pocket Guard (USA)
Pocket Guard connects to a bank account to warn when you spend more than the set amount. The app also makes smart savings recommendations such as cutting unnecessary services or renegotiating invoices.
Spendee (Czech Republic)
Popular in Europe, Spendee allows users to share photos with family or group of friends renting a house. The intuitive interface and vivid charts help the whole group easily track the general budget.
According to financial technology expert Peter Ramsey from market research company Built for Mars (UK): The most successful financial applications not only help users save money, but also make them feel more controlled in their lives. That is an extremely important psychological factor in today's spending behavior".
