Saving for a Down Payment? Here are 5 Budgeting Apps that can Help

Evelyn Reyes

Saving for a new home down payment may not be as difficult as you may think. Learn how these budgeting apps can help you gain control of your expenses and make saving money easier each month. Read below to see what app is right for you. You’ll have enough money saved up to make your home owning dream come true before you know it.

Mint

Mint is a budgeting and spending app created by the same people who created TurboTax. Mint allows users to stay on top of their finances by helping them with budgeting, paying bills and credit score tracking.

Mint allows users to stay on top of their bills by organizing all of them in one place. Users can see what’s due, when it’s due and what they can pay. Mint also saves time by allowing users to see all their accounts in one place and saving them the trouble of login into multiple sites. Mint users receive alerts and reminders that notify them when to pay their bills, low funding warnings and when there are signs of unusual spending.
Available for iOS and Android users.

Mvelopes

Mvelopes is a budgeting app that uses the envelope system to help users take control of their finances. Mvelopes believes in giving money a purpose. As well as empowering users to spend their money on what really matters to them; like saving for their kid’s college tuition, a home down payment or a dream wedding.

Mvelopes simplifies budgeting by providing access to all income and expenditures in one dashboard and creating a personalized envelope system that allows users to stay on track of their monthly spending goals.
Available for iOS and Android users.

You Need a Budget

You Need a Budget (YNAB) is a money management app that helps users stop living paycheck to paycheck, get out of debt and save more money.

              YNAB’s 4 Rules:
                   1.  Give Every Dollar a Job:
                   Be intentional about what you want to do with your money.
                   2.  Embrace Your True Expenses:
                   While it is tempting to “treat yourself” when that direct deposit hits your bank account, it’s important
                 
 to first set aside the money that will go towards monthly bills.
                   3.  Roll With The Punches:
                   This rule is straight forward, when you need to change your budget just do it. There is no time to fuss.
                   4.  Age Your Money
                   Your goal should be to spend money you earned the previous month.

Available for iOS and Android users.

Digit

Digit is another budgeting app that links to users’ bank accounts. What makes Digit different from other budgeting apps is that it calculates the perfect amount of money to put into savings. Digit studies users’ income and spending habits and automatically transfers money into their savings 2-3 times a week.
Digit also rewards users with a 1% annual cash back on savings paid every three weeks.
Available for iOS and Android users.

Unsplurge

Unsplurge is a budgeting app with a twist. Unsplurge works by allowing users to save for something they want, like a tropical vacation or a new car. However, what makes Unsplurge stand out is its social network community. Users can share their goals and achievements with other users. Seeing other users reach their goals encourages others to keep working towards reaching theirs.
Available for iOS users.

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