The best budgeting app for beginners

The mobile app called Mint is considered one of the most popular apps for budgeting worldwide. With up to 25 million users, Mint deserved to take first place in a list of the best budgeting free app for a few reasons. Firstly, you can find all your accounts in one place, and daily financial tracking significantly influences convenience in working. Secondly, you can get the monthly bill tracking – Mint will offer you some payment reminders too. Additionally, the app allows you to track your investments and check certain portfolio fees successfully. Another great option of Mint is the ability to get access to the TransUnion credit score.

Although Mint has many benefits worth your attention, some slight downsides also take their place here. Since the app is free, you can notice an excess of different advertisements. Nonetheless, you can deal with some technical issues during the app work according to users` reviews. Some users wish the spending categorization were better, but it is a matter of taste.

Reliable budgeting app for iPhone and iPad users

Moneyboard app is an answer to the question of what is the best iPad app for home budgeting. The program is available on iPhone, Mac, and iPad providing an easy to perform iCloud synchronization of all your Apple gadgets. Using the Moneyboard, you can easily track all your incomes and spending that is not complicated to add to the app. In addition, this app provides users the ability to have multiple accounts even in various currencies. Easy to understand interface combined with great financial options makes the Moneyboard an excellent financial management tool for all Apple users!

The best budgeting Android app

AndroMoney budgeting app is considered one of the most popular and recognizable apps on Google Play (support for IOS and web is included). This app is free for users and has several reliable financial features, like access for account balances and different currencies, support for account transfers and multiple accounts, etc. The easy-to-understand app’s interface and good economic philosophy are the first signs of this program’s favorite free budgeting app. Spend and control your money correctly with the help of AndroMoney!

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How to open a high-interest savings account

A high-interest savings account is also known as high-yield. It works in the manner that you deposit money into a savings account, and a bank later pays out the interest on your balance. The main difference between the usual and high-yield savings account goes for the savings interest rates and APY (accompanying annual percentage) you will get is typically 10-25 times higher.

Once you have chosen the suitable account type and the bank which services you will use, it is time to start opening your savings account. You need to be aware of few things of a savings account interest and other financial features before account opening:

1.     An interest rate and APY itself

No doubt, the first thing you would be willing to know is savings account interest and APY. With that knowledge, you can easily compare a few banks to choose the most profitable conditions for your savings account.

2.     Requirements for fees

Fees can be an obstacle in the way of earning the interest of your savings account. So, check up whether your banking service charges a fee for minimum balance, customer service, maintenance, etc. to make the most felicitous decision.

3.     Requirements for a minimum deposit

Consider how much money you want to deposit for a high-yield savings account. Keep in mind that some banks can require a minimum account balance that is necessary for accurate returns.

4.     Access option

Make sure you will have access to ATM or branch banking once you have used an online service for opening a savings account – the method for withdrawing funds is an important thing to consider.

5.     Financial app or mobile banking

Digital banking is a convenient and easy-to-use tool, especially if it comes to a savings account. Look through the reviews about certain banking apps or mobile banking to make sure it is good enough for you.

6.     Banking service

Make sure your bank provides you with reliable customer support options. You will be able to ask questions about savings accounts using a suitable method – a live chat, by phone, etc.

Top reliable banks for savings accounts

1.     SmartyPig by Sallie Mae – provides 0.70% APY with no monthly fees and minimum initial deposit
2.     Affirm – offers 0.65% APY with no ATM card or fees
3.     Axos Bank – offers 0.61% APY for high-yield savings accounts with no minimum ongoing balance

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