4 useful tools and apps to improve your personal finances

improve personal finances

Personal finance is the first step to and the most basic to improving your finances. Many people have trouble with personal finances and hence never get any further towards their dream of achieving financial freedom.

Having better finances is a matter of self-control more than anything else. You will need to improve aspects such as budgeting and money management. Improving your personal finances takes sacrifice and commitment, but thankfully, some tools and apps can help you do it, such as:

SoFi Relay: Credit Score Monitoring, Spending Breakdowns, and More

If you need a personal finance app that will help you have an overview of your personal finances at all times, you need SoFi Relay. It is an application that will track all your money, whether it is coming in or going out from a single location. It will help you with various aspects of your personal finance, including credit score monitoring, tracking your spending, and providing financial reports.

SoFi spend tracker is particularly effective at helping you reduce your expenses. The application can help you set monthly spending targets and review your top spending categories. It is developed by the country’s three national credit reporting agencies meaning your credit score will always be on point whenever you need financing. The best part about SoFio Relay is that it is free.

You Need a Budget (YNAB)

Never has an app been so aptly named. You Need a Budget (YNAB) because it fits anyone who has issues with their personal finances. The app was designed around four pillars of personal finance:

  • Giving every dollar a job
  • Embracing your expenses
  • Rolling with the punches
  • Aging your money

The foremost way to use the app is to create a detailed budget to guide your monthly spending. The application is famous for its budgeting philosophy. You can link it to each of your accounts to provide you with an accurate picture of your expenditure across every budget category.

YNAB has an excellent reputation for helping people save up to $ 6,000 in the first year of using it. You can get the free version and use it for a month before purchasing it.


Simplifi by Quicken is one of the best personal finance applications today. As the name suggests, it tries to simplify your personal finances to make it as easy as possible for you to manage them. The application helps you create a personalized spending plan and provides you with real-time information about how you are spending your money.

You can connect your bank accounts to the app to get real-time data on your financial situation, and how far or close away you are from achieving your financial goals. You should note that it is always important to take steps to protect your data online.

Simplifi will track your bills and subscriptions throughout the month, even dormant ones. Its cash flow tracking feature has been touted by many hence its capacity to help with spending. It also has a free 30-day trial, so test it out and see.

Personal Capital

If your personal finances are managed to a certain degree, it may be time to move on to the next step of wealth creation, and Personal Capital is the best application in that regard. Personal Capital is a wealth management and personal finance tool that will help you organize your assets and investments, no matter how small. It will also help you with your personal expenditure.

Personal Capital has a portfolio tracking feature so you can receive real-time information on all assets, securities, and accounts. It will help you make the most out of your investments by providing diversification and risk management recommendations. The app will also apprise you of any hidden fees that may be eroding your returns.

With Personal Capital, you can compare the performance of your investments against industry benchmarks like the S&P 500 to know if you should make any changes. The application will also show you if you are meeting your investment goals based on your preferred period and connect you to financial advisors to help you meet them.

There are numerous personal finance applications available on the market today. Personal Capital, SoFi Relay, Simplifi, and YNAB are some of them but some of the best. They will help you track your income, expenditure, and investments. Anyone who wants to improve their personal finances should consider using them.

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