Best mobile apps and tools you need on your phone in 2022 to achieve financial freedom
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PUBLISHED ONJune 17, 2022 8:50 AMByManali Patil
Want to take your finances to the next level?
We all want to earn more money, save more and even retire early. But how exactly would you want to do that?
What if we told you that you have something you always carry by your side that will help you reach your financial goals?
From expense tracking to investing, apps these days can help you in every facet of your life. We have curated a list of the best apps for each kind of financial goal you may possibly have.
Best apps for expense tracking
Some of you out there love tracking expenses. Others find it a huge chore, and unnecessarily time consuming.
However, tracking expenses is one of the most effective ways to save money and reach your financial goals.
It makes you more aware of where you are spending. It helps you cut down on unnecessary expenses. And best of all, it helps you plan your expenses to make the most efficient use of your money.
Thanks to technology, there are so many apps out there that can make the process easy, quick, and rewarding.
Here are some of our favourites.
|
App |
Pros | Cons | This is great for you if… |
|---|---|---|---|
| Money Lover |
|
|
You are on the hunt for an app that is easy to use and can suit your every budgeting need. |
| YNAB |
|
|
You have been tracking your expenses for a while and want to up your budgeting game. |
| Notes & Excel |
|
|
You want a no frills customizable budgeting application and do not mind doing some of your own leg work. |
1. Money Lover
If you love your money, then this app might be perfect for you.
MoneyLover hosts a wide variety of features including credit card and bank account syncs across multiple devices. It can even sort your expenditures based on pictures of your receipts.
Touted as one of the most simple and pain-free expense tracking applications out there, this is a great all-rounder for any type of budgeter.
One potential con of this app is its simplicity. It does not have any ultra-high-tech features or insane details.
For those who want extremely detailed breakdowns and reports, perhaps our next pick might just be the one for you.
2. YNAB
YNAB or You Need a Budget has been a fan-favourite in recent years.
According to YNAB, the average new user saves $600 in the first two months and more than $6,000 in the first year.
Designed to get you out of debt, this is a great app for any series budgeters out there. One of its key features is detailed expense tracking, with each dollar given a 'job' as they are sorted into digital envelopes.
However, one big hurdle that comes with the app is its relatively high cost, which is slightly ironic considering it's a budgeting application.
Furthermore, the many widgets may confuse those of you who are new to budgeting, making the application not very beginner friendly.
3. Notes & Excel
We promise this is not a joke.
Excel is an old-school classic. It is free, completely customizable, and boasts thousands of functions so that you can manage your personal as well as corporate finances. Needless to say, there is a reason why this application has stood the test of time.
If Excel appeals to you, but the idea of creating your own spreadsheet by manually coding commands immediately cues a migraine, don't fret.
Nowadays there are many high-tech templates available for you to follow. Simply create a copy and customise it according to your preferences.
However, Excel is far easier to use on a desktop. So pair Excel up with a free note-taking app like Google Keep or even your plain and simple Notes app to record your expenses while on the go.
Then, once you have the time, you can consolidate everything on your fully customised Excel spreadsheet.
Best apps for trading and investing
Investing is risky, but it is also a great way to diversify your income stream and grow your funds.
Whether you're a serious investor or a newbie just exposed to the world of trading, there are applications with features out there that suit everyone's needs.
The best time to start investing is now. So, here are our top three mobile apps that let you trade on the Singapore Exchange.
|
App |
Pros | Cons | This is great for you if… |
|---|---|---|---|
| Tiger |
|
|
You want a simple, to-the-point application that has all the things any investor may need. |
| moomoo |
|
|
You want an app with many features that give you insight as you invest. |
| uSMART |
|
|
You have never really invested before but would like to dip your feet in without high costs. |
1. Tiger
PROMO: Enjoy 180 Days unlimited commission-free trades for U.S. stocks and more when you sign up
Learn More Learn More Consider this if you are looking for a cheap online brokerage with relatively broad market access Read ReviewTiger Brokers is pretty much a staple for investors.
With one of the lowest commission rates on the market, live prices for Singapore stocks, and intuitive platform design, Tiger Brokers sets itself apart from the crowd.
Furthermore, for those interested in trading abroad, Tiger brokers gives customers real time access to markets in the United States, Australia, China, and Hong Kong.
However, this reach does not extend too far, and those of you interested in having a larger market access may find this brokerage lacking.
2. moomoo
PROMO: Welcome Rewards worth up to SGD 1,000
Learn More Learn More Consider this if you only want to trade stocks in SG, US, and HK Read ReviewNext we have moomoo, a brokerage that also boasts one of the lowest commission rates.
This mobile application has an incredibly simple UI/UX design offering features like chat functions, technical indicators, ratings, and insights.
One potential limitation to moomoo would be that it has relatively limited market access as compared to its competitors.
So, if you’re looking for a comprehensive brokerage that lets you reach markets far and wide, moomoo may not be for you.
3. uSMART
New uSMART users can enjoy Tesla share worth up to S$100 upon their First Deposit!
Learn More Learn More Consider this if you are looking for an online brokerage with specially-curated investing content for beginner investors Read ReviewLast but definitely not least, is uSMART.
uSMART comes with the cheapest commission rates of a mere 0.02per cent. This may not seem a lot, but when you’re investing in the thousands, you want as little of your money to go to commissions as possible.
The app also features specially-curated content for investing beginners as well as a large treasure trove of resources to get you started.
A potential limitation is that uSMART does not have a desktop application. So if you wish to have access to your account without your phone, this app may fall short.
Best pp for managing insurance policies
Nowadays, there is an insurance policy for everything, ranging from cars to health to homes.
Managing these multiple policies is crucial for successful financial planning.
Imagine: in one glance you can see the premiums you have to pay and the coverage you might be missing. This would make setting aside funds and meeting the terms of your policy far easier.
It also makes you aware of future payments you have to make, and allows you to plan accordingly so that you never find yourself in a tight financial spot.
1. PolicyPal
Introducing PolicyPal, an app designed to help you do just that.
In just 2 minutes, you find your coverage gaps after uploading your policies. Never again would you need to deal with messy paperwork and haphazard management.
With over 100,000 users, the app helps you keep track of your policies digitally, wherever you may be.
Best apps for payments
Cash is quickly becoming a thing of the past, if it isn’t already. Nowadays, almost any store, from an upscale boutique to a hawker stall, accepts some form of online payment.
The convenience that comes with online payments is undeniable. You may lose track of your cards and accidentally misplace them, but you probably won’t ever lose your phone.
Additionally, online payment apps allow you to earn rewards at two places with one transaction. Credit cards, like Citi Cash Back Card and have good rebates and cashback for customers.
Most online payment platforms offer additional rewards, on top of the cashback you would already receive. So if you want to earn more bucks by making purchases you already do, downloading one of the apps we’ll mention may serve you very well.
|
App |
Pros | Cons | This is great for you if… |
|---|---|---|---|
| Google Pay |
|
|
You want to receive additional cashback and rebate on your purchases. |
| DBS PayLah |
|
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You want to make online payments but are hesitant to provide your credit card details. |
| GrabPay |
|
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You are an avid Grab user and want an all-in-one payment application. |
1. Google Pay
If you’ve seen people going crazy to collect huat pals during Chinese New Year, you can thank Google Pay for that.
Google Pay is a well designed payment application that allows users to transfer money. You can send money to other accounts, scan QR codes to pay vendors, and even be eligible for rewards.
For every transaction over S$10 you make to a unique person, Google Pay offers you a scratch card, where you can earn up to S$10 of cashback.
They also have seasonal deals, like the huat pals in Chinese New Year, so be sure to keep watch.
2. DBS PayLah
DBS PayLah is a payment app that doesn’t require you to input your credit card details. This makes it perfect for those of you who are more conscious about security.
Furthermore, PayLah has been a long running payment method, accepted by most vendors in Singapore. It also lets you pay by scanning an SGQR code, making it super convenient to use.
Ofcourse, it’s quite troublesome for non-DBS/POSB account holders to sign up, but once you’ve crossed that bridge the entire process is pretty smooth sailing.
3. GrabPay
Most of you probably know GrabPay as the way you pay for a ride or food delivery.
But GrabPay has many more uses. More and more vendors are making online payments via GrabPay accessible. So if you already use Grab, which you probably do, you can now use it for a greater variety of online payments.
While GrabPay does not have cash back rewards, you do get benefits in the form of points. These can come in really handy when you need to dock off a few dollars from an expensive Grab ride at peak hour.
Best apps for financial literacy
|
App |
Pros | Cons | This is great for you if… |
|---|---|---|---|
| Kindle |
|
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You enjoy reading about finance and want a mobile app that is easy to use. |
| Audible |
|
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You want to gain information from books without having to read. |
| Spotify |
|
|
You want a convenient app to listen to financial podcasts without having to pay. |
1. Kindle
Kindle is probably one of the best-known apps in the realm of eReaders. It gives you access to millions of books, newspapers, and magazines that contain great information to improve your financial literacy.
It comes with some amazing features like the option to sync across devices, highlight phrases, and look up terms on Wikipedia.
There are no real cons associated with the app but there is something you need to note. The app itself is free, but you may find that you need to pay for most books.
2. Audible
If you’re not a fan of books but want the same quality of information, then audiobooks might be the way to go.
Audible is the biggest and most famous audiobook service out there with over 200,000 audiobooks in their repository.
Many people around the world are huge fans of their one month free trial, and get hooked on the convenience and ease of Audible.
Audible has a couple of plans for you to choose from all with different price points, but none are free. So if you’re thrifty, perhaps this is not the app for you.
3. Spotify
Spotify makes it to our list because it is one of most widely used apps out there. You probably have it on your phone right now.
But many don’t know about or don’t use Spotify’s podcast feature. We’re here to tell you that it’s so worth it.
Spotify houses podcasts from established financial institutes like The Economist, NPR, and many more.
With weekly episodes on interesting topics such as current affairs, personal finance, and many more, Spotify podcasts are an incredible untapped resource for improving your financial literacy.
And what’s more, it’s totally free (provided you’re willing to give a minute of your time to ads).
Best apps for productivity
Productivity apps are great for three main things: getting you organized, improving your good habits, and increasing your focus.
Being productive has many benefits. For instance, being more productive can give you time for a side hustle. It can give you more time to increase your financial literacy or manage your stock portfolio. It may impress your bosses and put you up for a promotion.
With so many things to do and so little time, here are two productivity apps that will help you become a time management pro.
|
App |
Pros | Cons | This is great for you if… |
|---|---|---|---|
| Kindle |
|
|
You are looking for a one stop shop to manage projects and take notes. |
| Forest |
|
|
You struggle to keep away from your phone and want an app to keep you in check. |
1. Notion
Notion is truly an all-in-one workplace. You can start a daily journal. You can track your habits. You can create a Kanban board. With thousands of templates, the possibilities are endless.
Part project management tool and part note-taking app, Notion can be your go-to for anything productivity related.
While you can choose to opt for the premium plan, many find that Notion’s free plan sufficiently helps them become more productive.
However, Notion lacks some advanced functionalities, choosing breadth over depth in their features. Additionally, its wide array of templates may confuse a new user and make the application less straightforward to use.
2. Forest
If you have a hard time putting down your phone and getting off social media, Forest might be the app for you.
The app’s premise is simple: open the app and plant a tree for a certain duration. If you leave the forest app before your time is completed, your tree will die. The more trees you plant, the rewards you will be entitled to.
Forest boasts a partner feature where you can plant trees with multiple people and if one leaves, everyone’s tree dies, making it a group effort to complete tasks.
Coming in at $1.99, some may consider this a small price to pay for greater focus and productivity.
Best apps for discounts
A good way to be financially savvy is to always be on the lookout for ways you can save your money. That’s why discount apps are the next on our list.
Here are some that have caught our attention.
|
App |
Pros | Cons | This is great for you if… |
|---|---|---|---|
| Eatigo |
|
|
You are a food enthusiast looking for discounts and don’t mind eating at strange hours of the day. |
| Shopback |
|
|
You are an avid online shopper that wants to buy things while saving a little extra money. |
1. Eatigo
Eatigo offers 10 per cent to 50 per cent discounts during off-peak periods at absolutely no cost to you. Free to use at hundreds of restaurants at 32 locations around Singapore, this app is a go-to for a foodie hungry for a good deal.
Download the app, make the reservation and you’re done. You can even cancel up until a few hours before with no charges.
But, as mentioned above, the timings of good discounts are going to be inconvenient (think lunch at 3pm or dinner at 8.30pm).
2. Shopback
Shopback is another app that operates with no cost to you. It provides you additional cashback on online purchases you would make.
Shopback also provides coupons and voucher codes for additional savings, so do be sure to check it out.
Some may think that cash rebates of a few percent are a bit low, but if you’re an avid online shopper, these can easily add up to hundreds of dollars.
Best apps for side income
Our last category is applications for side income.
Ever find yourself having free time in the day and not knowing what to do? Already binged nearly every show on Netflix and are getting bored?
If you have a one or two hours to spare, side hustles can be a great way to get some additional income.
|
App |
Pros | Cons | This is great for you if… |
|---|---|---|---|
| Carousell |
|
|
You have a lot of unused or used items in great condition that you can sell off. |
| Fiverr |
|
|
You have skills that can be done remotely (writing, editing, coding, etc.) and want to explore part-time freelance work. |
1. Carousell
Selling off used items is not only a good way to get some extra cash, but is also great for the environment.
In an era of sustainability, an app like Carousell can come in very handy. Sell items around your house that you can’t find the time for to another home where they’ll be used and loved.
Nowadays with online payment apps (see our payments section), there is no need to have a physical transaction. All you need to do is receive proof of transfer and mail the items to your buyers the desired address.
2. Fiverr
If you have a unique skill and a few more hours on hand, you can sign up for a Fiverr account.
Using Fiverr, you can post listings of services you offer (i.e. graphic design, front-end coding etc.) along with a portfolio and price. Then wait for people to contact you for a gig.
By turning your skills and hobbies into part-time jobs, Fiverr allows you to earn a few bucks doing something you love.
Conclusion
So there we have it - the best mobile apps out there to help in every facet of your financial life.
From expense tracking to getting discounts, and many more, we hope that you have gained some insight on ways to achieve your financial goals.
We hope that you have found something useful here and that our recommendations will be helpful to you in one way or another.
This article was first published in ValueChampion.
