Editorial Team
As a working mom, our time is divided between more people, chores, and projects than we can keep track of. Money comes in from the work we do in the brief hours of peace away from our kids, and then goes right back out to help pay for their upbringing, household maintenance, and other everyday expenses. Keeping tabs on our finances isn’t often easy, but it doesn’t have to be difficult, either. Your iPhone can be the key to unlocking financial freedom and stability this year. Here is a list of the best iPhone finance apps for moms.
#1 – Mint
The Best Entry-Level Personal Finance App
Mint ranks highly on just about every personal finance list you’ll come across, and for good reason. Mint is utilized by over 24 million people around the world, and is completely free to use. Connect your credit card(s), debit card(s), and bank accounts to Mint, and it will quickly categorize your spending under different sections relevant to you. With its neat and colorful graphs, you’ll be able to instantly see where you’re overspending (or underspending). You can set goals and budgets to stick to, as well as keep tabs on your bills, loans, and more. The iOS app even lets you access your credit score for free.
#2 – Acorns
The Best Family-Friendly Savings App
Link your cards to Acorns and you’ll start saving immediately, since every time you pay for something with your card, the amount is rounded up to the nearest dollar, with the extra cents going into your Acorns savings. This money can then be invested (if you like) into any number of investment portfolios available through the Acorns app. What Acorns does best is offer a family plan, which allows you and your kids to learn together how to best save your cash, and invest it smartly in a range of investment packages and portfolios. This family plan starts at just $5 per month, but you can trial the app for a month for just $1.
#3 – YNAB (You Need A Budget)
The Best Budget-Focused Personal Finance App
Whilst Mint may be the best entry-level overall finance app, YNAB is the app you should turn to if you have difficulty setting and sticking to budgets. YNAB helps you set attainable budgeting goals, and keeps you on track with regular updates, charts and graphs to let you see clearly how well you’re doing. The iPhone app costs $84 a year, or $11.99 a month. Tailored specifically for individuals and couples who struggle to stay out of their overdrafts or credit cards on a regular basis, YNAB boasts that the majority of its customers save around $600 in the first two months, and $6,000 in the first year.
#4 – Honeydue
The Best Personal Finance App for Couples
Most finance apps for the iPhone are tailored toward the individual. Honeydue is a fantastic example of an exception to this rule. Honeydue is designed to be used by couples, so as to make financial matters between spouses, partners, even flatmates, as simple and stress-free as possible. For the working mom, Honeydue allows you to keep track of joint and separate accounts, as well as bills and budgeting goals shared between you and your partner. By exporting the financial conversation from the house to the Honeydue app, you can both save time and energy.
#5 – Robinhood
The Best Beginner Investment App
Robin Hood famously stole from the rich and gave to the poor. The Robinhood app helps you invest your money in wealthy and up-and-coming companies, to make more out of what you’ve got. Robinhood is completely free to use, meaning that you can dabble in the investment niche without paying to do so. It has a super simple and attractive interface, as well as charts and graphs to help you keep on top of your investments, and guides on how to invest sensibly. A fantastic app for a working mother who wants to make her money work for her.
#6 – Personal Capital
The Best Wealth-Management Finance App
Personal Capital is the iOS app for mom’s managing a lot of money invested and stored in different places. Instead of focusing on day-to-day budgeting, like YNAB and Mint do, Personal Capital is an app for those moms who have already built up significant personal (or familial) wealth. This best iPhone finance apps for moms shines best when used to track a variety of investment portfolios, manage your net worth, and oversee the risk management of your assets. It even gives you the ability to work towards retirement goals, so that you can spend your golden years as they should be spent… relaxing!
#7 – Good Budget
The Best Envelope-Style Personal Finance App
Back in the day, we used to budget the old-fashioned way: by separating our monthly incomes into envelopes labeled by category. Groceries, rent, energy bills, kids, and so on. Good Budget is a free-to-use app which converts this simple-yet-effective style of budgeting into a digital medium. On the Good Budget app, you simply do the same thing: setting up ‘envelopes’ to cover your budgeting needs, and allocating them money. Over the course of the month, you can see where that money is going, and thus readjust your budgeting to make your salary stretch as far as possible.
#8 – Prism
The Best Bill-Paying Personal Finance App
One of the most stressful days in a working mom’s monthly calendar is the day you have to sort through all of your bills from various utility companies, banks, cell phone providers, schools, and more. In the life of a busy woman, it’s easy to worry you might miss a bill payment, or be late on one you weren’t prepared for. Prism eliminates this stress by tracking your bills specifically, and even allowing you to pay them all off each month through the Prism app. With Prism, you’ll be sent timely reminders of upcoming due dates, and can even schedule regular payments so that you never have to think about whether a bill will or won’t be paid on time. The Prism app is free to download and free to use.
Conclusion
Don’t let your personal finances be a source of frustration, stress or worry. As a working mom, you’ve already got enough on your plate. The best iPhone finance apps for moms make keeping track of your incomings and outgoings, paying bills, setting budgets, and saving and investing with partners and family a total breeze. Using one (or several) of the 8 best personal finance apps available on the App Store in 2022 will help you to save some money, and will free up your time to be better invested elsewhere (like putting your feet up with a nice glass of wine…)
About the Contributor
Georgi Todorov is the founder of ThriveMyWay, a place for online entrepreneurs, bloggers, SEO specialists, and freelancers to find success in their own way.
LinkedIn: Georgi Todorov
Twitter: @GeorgiTodorovBG