The best budgeting apps of 2020 Most people would love to have a better handle on their finances, but it can be hard to find the time to budget, let alone the motivation to stick to that budget. Luckily, the tech world has provided a plethora of money management apps that make budgeting a breeze. Many of these services can automatically import your financial info and help you track, analyze and plan your spending. The number of apps can be intimidating, however, so we’ve done the heavy lifting and created a list of some of the best budget ing apps available today. You Need A Budget You Need A Budget , or YNAB, has garnered an almost cult - like following due to its unique budgeting approach and active community of users. YNAB is special among bu dgeting apps because of its zero - based budgeting philosophy, which has you assign a “job” to each and every dollar you currently have. Budgeting every dollar forces you to carefully consider where your money goes each month. YNAB’s main goal is to break yo u out of the paycheck - to - paycheck cycle until you’re one month ahead of your finances, spending money today that you earned 30 days ago. With a massive amount of educational resources, a community of helpful users who enjoy guiding new YNABers on their bud geting journey and an impressive desktop app, You Need A Budget is one of the best budgeting tools currently available. The app costs $84 per year (or $11.99 per month) after the initial 34 - day free trial, but their 100% money - back guarantee is difficult t o beat. Mint Mint is one of the oldest and most - used budgeting apps on the market, with over 20 million users. Owned by Intuit, the makers of Quickbooks and TurboTax, Mint is free to use (though you will see ads) and h as a simple design that makes budgeting accessible to anyone looking to improve their finances. Mint’s wide array of features include automatically categorizing transactions from linked accounts, sending alerts when going over budget, monthly bill tracking and more. Users of the Mint app can see their entire financial picture in one place. Mint is a safe option for anyone who wants better control of their money, but especially for those just starting out who want to save more and spend less. PocketGuard If you have trouble with overspending, PocketGuard may be the right budgeting app for you. Tracking your income, expenses and savings goals, PocketGuard’s algorithm analyzes your spending habits then crunches the number s to let you know how much money you have left “in your pocket” to spend. Those spending limits can make it easier to curb overspending and finally take control of your finances. PocketGuard offers other unique features, like looking at your recurring phon e, TV and internet bills to help you find a better deal on those monthly services. The app is free to use, but more features are hidden behind a $34.99 per year subscription. Personal Capital While primarily an investment tool for building wealth, Personal Capital ’s free app has plenty of features to help budgeters track their spending, including a full snapshot of their finances. You’ll be able to see your total income and expenses, add a budget and sort your spending by category, as well as monitor your checking, savings and credit card accounts, IRAs, 401(k)s, mortgages and loans all in one place. It may lack some features that the other apps in this list boast, but Personal Capital truly shines as a wealth management tool. Its Retirement Planner and Education Planner will prepare you for the future, while the Net Worth Calculator and Fee Analyzer can help you make informed decisions about your current financial state. Personal Capital’s basic features are f ree to use, but its investment services charge an annual of fee 0.89% of your balances on accounts under $1 million. Conclusion No matter what state your finances are in, using one of these or another budgeting app can help you analyze your accounts, rein in spending and empower you to finally get control of your money. The opinions expressed here are those of the author and do not necessarily reflect those of Draper and Kramer Mortgage Corp. Neither the author nor Draper and Kramer Mortgage Corp. were comp ensated for publication of these opinions. 5 Bad Credit Habits to Break In 2021 Are your credit habits ready for a New Year’s resolution? If you’re like many Americans, you may be able to improve your credit health and even your finances by changing a few of your credit practices. Here are five bad credit habits to break in 2021. 1. Ignoring your spending statements Reviewing your monthly credit card, debit card and bank account statements may not sound like your idea of fun, but it’s an important step for staying on top of your financial wellbeing. Regularly checking your credit statements makes it easier to catch ac cidental or fraudulent charges that might otherwise go unnoticed. Set aside a time each month to check your statements – or follow your spending habits with a popular budgeting app – to make sure everything is in order with your accounts. This could save you from a major expense or damage to your credit. 2. Missing payments or making them late From forgetfulness to financial challenges, there are many reasons why late or missed c redit card payments occur. Unfortunately, failing to make timely payments can cost you in fees and do damage to your credit scores. The biggest solution for forgetfulness is to set up automatic payments or schedule payments days in advance – just make sure you maintain a sufficient bank balance to cover your payments. While they are few simple solutions if you’re struggling to afford your payments, creating and following a budget and reac hing out to your credit card company for options may help you avoid the consequences of late or missed payments. 3. Carrying large credit card balances Maintaining large balances on your credit cards can lead to growing interest charges and debt, and it can also harm your credit scores. Protect your scores by keeping your combined balance across all credit cards below 30% of your combined credit limit. For example, if you have one credit card with a $10,000 limit and one with a $5,000 limit, you’ll want to a void carrying a total of $4,500 or more on both cards ($10,000 + $5,000 = $15,000, and $15,000 x 0.30 = $4,500). To avoid paying interest charges and taking on new debt, strive to pay off your credit card statement balances completely by each due date. 4. Ca relessly opening or cancelling credit Sometimes, you need a new line of credit or loan. Sometimes, it’s right to close one out. But each action comes with benefits and consequences, including an impact on your credit scores. Having a variety of credit ac counts open helps your credit scores in the long run, but opening new accounts can harm your scores a bit in the short term, and closing old accounts can weaken your scores. If you’re planning to finance a home purchase or refinance a mortgage within a year or so, consult with a mortgage professional before making any credit d ecisions like these. 5. Neglecting your credit reports The contents of your credit reports determine your credit scores and impact what kind of credit is available to you. If mistakes find their way into your reports, they can sabotage your credit, potentia lly costing you money and hindering plans like a home purchase. Click here to learn more about the importance of checking your credit reports and how you can do so once a year for free. Conclusion Savvy use of credit can save you money and accelerate your progress toward your financial goals. By ditching any or all these bad habits you may have, you can help ensure that credit will be a tool rather than a burden to you in 2021. If you have credit ca rd balances you’re ready to ditch, get in touch to find out if you could consolidate your debt with a mortgage refinance at today’s low rates.