The Top Apps You Need to Increase Your Financial Literacy

Feel like you could use some help when it comes to money management? Keep reading to find out how these handy apps can help you get up to speed

Not everyone is a money expert—and that’s ok! While it is important to be conscious of your spending habits and remember to set aside part of your paycheck for savings, there is a lot more to money management that you should know. The problem is, a lot of people are either too intimidated to look for financial advice or are too set in their ways to make any major changes to their budgeting or spending habits.

If you find yourself wanting to learn more about your own finances or find yourself stuck in a rut, then you’re in the right place. Today, we’re taking a look at the top apps to increase your financial literacy! Apart from taking a financial literacy course, these apps are some of the best resources out there to help you feel more confident when it comes to your long-term financial goals. So, if you are feeling overwhelmed or shaky when it comes to your finances, keep reading to find out which apps you can look to for help!

Best Overall Money-Saving Application: Fabric by Gerber Life

Fabric by Gerber Life allows users to set goals, save for the future, and get a term life insurance quote in seconds

Fabric by Gerber Life is ideal for new parents.

When it comes to financial planning apps there are a lot that do one function extremely well, but few that are able to appropriately address different aspects of good financial planning. The best one that can help you simultaneously manage your finances and plan for the future is Fabric by Gerber Life.

Fabric by Gerber Life has an array of features that will help people—like new parents—get a big picture idea of their financial future. When you open the Fabric by Gerber Life application you will be presented with a quick questionnaire that will give the app some information about your current financial situation and your goals in the future. From there, the app will automatically set financial goals that you can work towards. This is a great way to get started saving money if you have absolutely no idea where to start. The app presents these goals in the form of a checklist. Users are also able to attach their banking information so that the Fabric by Gerber life app can track your progress in real-time.

The Fabric by Gerber Life app also offers some financial solutions that you may not have previously considered if you aren’t super financially savvy. The first feature we’ll discuss is the ability to get a quote for term life insurance right from the app. If you haven’t previously thought about searching for a term life insurance quote, now is the time to start. Adults with college debt, newlyweds, and new parents are all excellent candidates for term life insurance. Though life insurance is commonly thought to be something only older people require, it is actually better to secure a low monthly premium while you’re young and healthy. 

Another extremely helpful aspect of the Fabric by Gerber life app is the will writing feature. Again, it may seem premature to write a will, but in reality it is never too early to have this very important document on hand. If you have recently become a parent, you definitely want to take advantage of this feature. In less than 10 minutes, Fabric by Gerber Life can make a will for you for free.

Lastly, Fabric by Gerber Life is the perfect app to share your information with your spouse or co-parent. If you have a loved one in your life who shares financial responsibilities, they should be able to access and view the same information as you do. The Fabric by Gerber Life application makes it easy to share information, policies, and account information in the app. We should also mention that the app is secured using the same encryption technology used by major banks.

Best Application to for Gamified Learning: Zogo

Get paid to improve your financial literacy by taking mini-courses using Zogo

Zogo rewards you for learning about money. Image courtesy of Business Insider.

Imagine a service that pays you to learn about financial concepts and tips for saving money—sounds amazing, right? A service like this does exist and it’s called Zogo. Using Zogo, you literally get paid to learn about personal finance. At Zogo, they’ve gamified financial education, making it simple, fun, and rewarding for anyone who wants to learn more about money management.

Currently, the Zogo app offers more than 700+ professionally verified educational games that deliver information in a clear and compelling way. Using the Zogo app, you’ll feel more confident taking proactive steps to plan for your future. In addition to providing courses to help novices get up to speed on their financial knowledge, the app also offers rewards for each module completed. These rewards are called “Pineapples” in Zogo and can be saved and exchanged for real-world gift cards, charitable donations. You can even deposit the “pineapples” as a bonus in your checking account. Not only will you be able to improve your saving and financial planning skills, you will also earn real rewards along the way. 

Best App for Learning About Investing: Invstr Pro

If you are new to investing, you might want a little help getting started. With Invstr Pro, you can monitor current investments and get recommendations for the future

Make your first investments with confidence using Invstr Pro. Image courtesy of SmartAsset.

Ready to make your first few investments? Try out the Invstr Pro app. Invstr Pro is designed to help you track your performance and optimize your investment strategy so that you can make better decisions in the future.  No matter where you’re starting in terms of finances or financial knowledge, there are tips and tricks you can learn from the Invstr Pro app.

The app includes a Stats feature that helps you keep track of what’s going on with your portfolio. Using Invstr, you’ll  be able to view how much money you’ve made or lost in the last day, week, month, or for longer periods of time. The app also shows you how many trades you’ve made, what kind of returns you’re getting, and more!

There is also the Portfolio Builder feature that helps users figure out what kind of investments are best for their style, risk tolerance, and long term financial goals. Additionally, the app promotes continued learning through the in-app Academy. The Academy will teach you everything about investing—from the basics to advanced strategies—so that when it comes time to invest you’ll know exactly what to do.

In order to access all of the benefits we’ve just mentioned that come with Invstr Pro, there is a charge of $3.99 per month. However, once you pay that flat rate you get complete access to the app without any additional hidden fees or charges. If you are ready to start learning about investments and making returns, then we recommend you try out the Invstr Pro app!

Best App for Debt Management & Bills: Prism Money

Get your finances in order and never miss a bill when you use Pism Money to help manage your finances

Pay all of your bills using one handy app. Image courtesy of Prism.

Money is hard to keep track of. After all, you only get paid a few times a month and bills seem to appear almost every day. If you aren’t financially savvy, it can be difficult to keep track of all of your outstanding payments. That’s where Prism Money can help. Prism brings together all of your money and bills so you can view them all at once in the simple app. As you use Prism, the app will remind you of upcoming payments so you can pay them with total confidence. You can use Prism to pay off outstanding credit card debts as well as monthly recurring charges like utilities. That’s the great thing about Prism, it can help you manage previous debts while providing helpful reminders for major upcoming payments. If you frequently have trouble remembering which bills come on which days—this is the app for you.

All you have to do is download Prism for your phone or tablet and the app will ask you to choose all of your billers. Once you connect them, the app will sync your account balances and bills and present them to you directly in Prism. From there, you can pay your bills right from the app. Using Prism, you can make sure no bill goes accidentally unpaid ever again!

 

If you feel you are behind others in your age group when it comes to financial literacy, we recommend you try any one of the apps we’ve listed based on your needs. Not every financial literacy app will work for everyone. You may find that there are some apps you need right now, and some you can use to plan for the future. Ultimately, choosing to pursue learning about finances is never a waste of time or money. So, if you feel like you’re lacking when it comes to money management, use one of these apps to get up to speed!

 

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