Managing and getting the most out of your money is so important. Today I’m sharing the top 5 apps for managing your money in 2020!
We are going to dig into apps for getting cash back for simply shopping, where to keep your money, how to safely send money, and where to invest your money!
$2 Bonus for using code QHKBH and scanning your first receipt.
Fetch rewards is a free grocery savings app that rewards you with free gift cards just for snapping pictures of your receipts.
That’s really it.
Free gift card rewards on groceries on thousands of products every day, no matter where you get your groceries. Just scan your receipts and earn gift cards – FOR FREE!
There are thousands of gift cards that you can redeem from charities to entertainment to retail to electronics to travel.
Some of my favorites are Amazon, Target, Applebee’s, Panera Bread, Cheesecake Factory, Bass Pro Shops, CVS Pharmacy, Khol’s Marshall’s, Nordstrom Rack, The Home Depot, and Walmart.
CIT Bank is my trusted bank for all of my savings accounts. I am a big believer in sinking funds as well as a solid emergency fund. I hold all of those accounts in a high-yield savings account because it allows me to earn a higher amount of interest than in a traditional bank.
I get asked a lot of questions if online savings accounts are secure and safe. YES! CIT Bank is FDIC insured up to $250,000 per account.
M1 Finance is my go-to app for buying stocks.
M1 Finance is a workhorse as far as investment apps go. They offer portfolio level dividend reinvesting, which simply means that when you receive a dividend balance of $10, you have the option to allocate that balance to your whole portfolio.
It is also worth noting that M1 Finance is a pie based platform or an investment strategy that uses the visual aid of diversifying into a pie chart. This makes it extremely easy to see your investments, how they are doing, and if you are diversified enough in your portfolio.
You have the ability to have different pies. For example, you can have a tech pie, a utility pie, a dividend pie, a growth pie, and more. You can visually see which pies are doing better than others.
On top of the varying pies, they have ‘template’ pies or expert pies. These pies are already divided up for you with pre-selected stocks, so it takes the guesswork out of diversifying. That’s the most beginner-friendly feature of M1 Finance. The expert pies make it easy to fiddle around with investing and get the hang of it.
On the flip side of the pies, you have the ability to ‘rebalance’ your pie. This means that if you specify that ‘Company X’ is to take up 10% of your portfolio and later down the road you realize that ‘Company X’ over or underperforming, you can rebalance the pie to make ‘Company X’ take up an originally specified percentage. The purpose of this is to ensure that you aren’t overbalanced in one stock or category and well-diversified.
Check out these videos on M1 Finance:
Another wonderful feature of M1 Finance is the ability to purchase fractional shares of a company. If you don’t have enough money to buy into a company, you can purchase a fractional share at a minimum of $10.
Say you want to purchase stock in Tesla. Tesla’s stock is currently trading at $700 — which isn’t chump change. Let’s say, you only have $100 to put towards your portfolio at the moment. With M1 Finance, you can take the $100 and purchase a fraction of tesla. You get 1/7 of a share.
The last pro is that when you invest in M1 Finance, you don’t have to purchase just ETFs and stocks. They have options for retirement accounts as well. With M1 Finance, you aren’t limited, which is the greatest advantage of investing with them. M1 Finance offers Individual Brokerage Accounts, Joint Brokerage Accounts, Traditional IRAs, Roth IRAs, SEP IRAs, and Trust Accounts.
Cash App has become my preferred way of sending and receiving money from friends and family.
Cash App is a mobile payment service developed by Square, Inc., allowing users to transfer money to one another using a mobile phone app.
Cash App does so much more than just allowing you to send and receive money. They also have banking, cash card, and boost features.
The banking feature in Cash App allows you to receive your paycheck, tax return, and other direct deposits up to two days early using your account and routing number.
The Cash Card is a free debit card that lets you pay online and in stores. This is a great option for teenagers to learn to responsibly use a debit card.
Boosts are instant discounts on your purchases like $1 off any coffee shop, 10% off Door Dash or $1 off each Lyft ride.
Rakuten (formerly Ebates) is the top app for earning cashback on places that you already shop. They have an app as well as a chrome plugin that will ensure that you never miss a cashback deal.
How it works is when you shop at your favorite stores Rakuten will trigger that you went through them and give you a set amount of cashback!
The best part is it will come to you directly through Paypal quarterly. They do have a feature where you can get a BOOST in your rebate if you redeem for a gift card!
Ways to save money:
Here at Freedom In A Budget, I am all about saving money! Here are some of the EASY ways that I save money:
• Fetch Rewards is a free grocery savings app that rewards you just for snapping pictures of your receipts. That’s really it. Free gift cards on groceries on thousands of products every day, no matter where you get your groceries. Just scan your receipts and get gift cards from places like Amazon, Starbucks, Target, Ulta, Applebees. Use code QHKBH to earn 2,000 points ($2)!
• Rakuten/Ebates: Rakuten is my to go way to earn Cash Back from over 2,500 stores like Macy’s, Amazon, Sephora, Walmart and much more. Join Rakuten today for free, and you’ll get a $10 Cash Bonus to get you started! Every three months, you’ll get a Big Fat Check in the mail or a PayPal payment just for shopping.
• CIT Bank offers high-yield savings accounts that provide a safe, secure way to grow your savings.
• M1 Finance is an easy to use brokerage platform that allows you to invest in Fractional Shares and auto reinvest!
• Honey: Stop wasting money- Honey finds you the Internet’s best discount codes.
• Budget Templates: Excel budget templates with pre-populated categories and formulas to keep you on track with hitting your financial goals.