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Financial Literacy Month: Apps for Managing Personal Finance



Adds up to big savings

Celebrate Financial Literacy Month in Canada by making a plan to be the master of your finances.

Happy Financial Literacy Month 😁 Join us as we navigate the world of budgets, savings, and investments, remember: financial mastery is within reach.

In this article, we’re sharing our favourite tools for managing budget. As you get older your financial responsibilities are likely expanding. Having financial goals and a detailed budget that accounts for living expenses, debt repayment, savings, and discretionary spending is key to achieving financial health. 

A realistic budget serves as a roadmap for your financial journey. The build and keep track of your budget, we recommend these apps:


1. Mint

Features: Mint is a comprehensive budgeting app that allows users to track spending, create budgets, and set financial goals. It automatically categorizes transactions and provides insights into your financial habits.
Pros: User-friendly interface, credit score tracking, and expense tracking.
Cons: Limited investment tracking.


2. YNAB (You Need A Budget)

Features: YNAB follows a zero-based budgeting approach, giving every dollar a specific job. It offers real-time budget tracking, goal setting, and educational resources to help users improve their financial literacy.
Pros: Emphasis on proactive budgeting, goal tracking, and educational content.
Cons: Subscription-based model.


3. PocketGuard

Features: PocketGuard helps users manage their money by tracking income, expenses, and savings goals. It provides a snapshot of your financial situation and suggests ways to save money.
Pros: Simplified budgeting, bill tracking, and personalized saving suggestions.
Cons: Some users may find the free version limiting.

4. Wismo

Features: Wismo (formerly known as Wisely) focuses on expense tracking and budget management. It categorizes expenses automatically and provides insights into spending patterns.
Pros: Simple and intuitive interface, automatic expense categorization.
Cons: Some users may miss advanced features available in other apps.


5. Spendee

Features: Spendee is a budgeting app that allows users to track expenses, set budget limits, and create shared wallets for group expenses. It provides colorful visualizations of spending.
Pros: Intuitive design, multiple currency support, and shared wallets for group budgeting.
Cons: Some users may find it less feature-rich compared to other apps.

Teaching kids lessons about money - Moola, Canada's favorite money-saving app

Before choosing a budgeting app, consider your specific needs, such as whether you prefer automated tracking, goal setting, or educational resources. Also always review the app’s privacy and security features to ensure the safety of your financial information.

Remember embarking on a journey toward financial health is more than a resolution; it’s a commitment to a secure and prosperous future. 

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