The Top Kiplinger’s Personal Finance Tools for Budgeting and Saving

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Get in Control of Your Finances with These Top Kiplinger’s Personal Finance Tools for Budgeting and Saving

Do you struggle to make ends meet, save up for big expenses, or invest wisely for your future? It’s essential to have a solid handle on your personal finance, but it can be overwhelming and confusing, especially if you’re not a financial expert. Fortunately, Kiplinger’s Personal Finance magazine has compiled a list of the best online tools and mobile apps that can help you streamline your budget, track your expenses, optimize your savings, and achieve your goals. Here are some of the top picks that you can try for free or at a low cost.

Budgeting Tools:

1. Mint.com: This all-in-one financial dashboard lets you connect your bank and credit card accounts, automatically categorize your transactions, set and track your budget, and get alerts when you overspend or receive a bill. You can also check your credit score, plan your retirement, and find savings opportunities.

2. You Need a Budget (YNAB): This app focuses on the zero-based budgeting method, which means that you allocate every dollar you earn to a specific purpose, such as paying bills, saving for emergencies, or treating yourself. YNAB syncs with your accounts, but also demands that you manually enter your transactions and adjust your budget as you go. This discipline can help you identify and reduce unnecessary expenses, prioritize your financial goals, and feel more in control of your money.

3. PocketGuard: This user-friendly app shows you at a glance how much you have left to spend, after subtracting your bills, savings contributions, and goals. You can also set up custom categories for your expenses, track your cash transactions, and get alerts when your upcoming bills or fees are due. PocketGuard also analyzes your spending patterns to suggest ways to save more money or get better deals on your bills.

Saving Tools:

1. Digit: This handy app analyzes your income and spending habits to determine how much you can afford to save each week, and then transfers that amount automatically to a separate FDIC-insured account. Digit aims to save you money without you feeling the pinch, and you can withdraw your funds anytime without penalties or fees. You can also adjust your savings goals and preferences, such as setting up a rainy day fund or saving for a vacation.

2. Acorns: This app helps you invest your spare change in a diversified portfolio of exchange-traded funds (ETFs), based on your financial profile and goals. With Acorns, you can link your debit or credit cards to round up your purchases to the nearest dollar, and then invest the difference. For example, if you buy a coffee for $2.75, Acorns rounds up to $3.00 and invests $0.25 in your portfolio. You can also add lump-sum deposits and withdraw your money anytime without fees.

3. SmartyPig: This online platform enables you to set up and track multiple savings goals, such as buying a car, paying off a loan, or funding a wedding. You can specify the amount and deadline of each goal, and then add money via automatic transfers, manual deposits, or gift cards. SmartyPig funds are held in an FDIC-insured account that earns an interest rate that is competitive with traditional banks. You can also invite family and friends to contribute to your goals and share your progress on social media.

Conclusion:

By leveraging the power of technology and the expertise of personal finance experts like Kiplinger’s, you can make your money work harder for you and improve your financial peace of mind. These top Kiplinger’s personal finance tools for budgeting and saving offer a variety of features and benefits, so make sure to choose the ones that align with your goals, preferences, and budget. With consistent and smart use, you can enhance your financial literacy, discipline, and success.

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