These 5 apps help me hit my financial goals, stress free

I’m very organized when it comes to everything money-related. I always save a certain percentage of my income for a rainy day, invest regularly for the future, and try to stay on top of all the latest news on the financial markets to spot short-term opportunities. However, the road to achieving my financial goals is long and unpredictable, so I take any help I can get. I regularly rely on five apps that help me on my journey and have proven to be invaluable. Here’s why.

It all starts with money management. I like to know exactly how much money I have at all times and where it’s at. So, how much is in my checking, savings, and investment accounts, and how much do I have stashed under the mattress, just in case. I also like to know exactly how much I’m spending on groceries, bills, transport, and entertainment, as that’s the only way to know if I’m going overboard in any of these categories.

You Need a Budget (YNAB) helps with all of this and more. For me, its biggest strength lies in a system of rules that power my budgets, giving me a framework for managing money. That’s different than most other money management apps where you’re kind of left to figure out everything on your own.

For example, every dollar I make has to be given a job, meaning I put it towards something. Whether it’s paying the bills, saving for a rainy day, or buying a new computer. The genius lies in YNAB nudging me to prepare for bigger expenses that come once a year, for example. So if I know I spend $2,400 on my vacation every year, I put aside $200 each month. When the time comes, the money is there, and I don’t need to take it out of my savings account just so I can get that tan I dreamed about all year long.

It’s a simple but powerful system that keeps me on top of my finances. It makes sure I don’t overspend, save monthly, and create an emergency fund to avoid living paycheck to paycheck. It also helps me calculate how much money I can realistically save per year since I account for both small and big expenses that are coming my way. The drawbacks are that the app has a learning curve many people won’t like and that it’s quite expensive, going for as much as $14.99 per month.

YNAB helps me put a certain percentage of money aside each month, but that money isn’t doing me any good if it’s just sitting in my bank account. The interest rates on savings in my region are beyond terrible, and since inflation keeps devaluing my hard-earned money, putting it to work through investments is the way to go.

There are plenty of brokers out there, with something like Robinhood being extremely popular — especially among the younger generation. My broker of choice is Interactive Brokers (IBKR), and it’s one I recommend to most people. It’s a large and established company, which gives me peace of mind that they won’t go out of business overnight. It’s still a possibility, since no financial institution is too big to fail, but I trust IBKR a lot more than some of the smaller brokers that are gamifying the investment process through their apps to make it seem less daunting.

With IBKR, I have different investing platforms to choose from, depending on whether I want something simpler or a bit more professional. I also have access to stock markets in over 160 countries, great currency exchange rates, and top-level tools for analysis. The support isn’t that bad either. I also never had any issues or delays with deposits or withdrawals, and I can easily export all the docs from my account that I need for tax purposes when the time comes. More importantly, the stock market has been good to me lately, so it’s nice to see my money is making money for me.

Technically, I could just get up to speed with all the latest on the financial markets using my broker’s app, but I’m using Koyfin instead. It’s a little bit better in this area, allowing me to create watchlists, see the biggest daily losers and gainers, and check companies’ detailed financial records.

I really like the main dashboard, which shows me an overview of the entire market. Not only can I see exactly how the major indexes are doing, but it also shows me the prices of gold, oil, Bitcoin, and other assets. There’s even a breakdown of each S&P 500 sector (health care, technology…), so I can see which ones are doing better or worse. All this info gives me a great overview of what’s happening on the market, while detailed financial data assists when making decisions on which companies to invest in. I invest most of my money in large indexes like the S&P 500 and the Nasdaq 100, but I buy individual stocks as well, hoping to beat the market.

The app is free to use, and I’m generally happy with it, although there are limitations to be aware of. You can only create two watchlists and have access to the last two years of a company’s financial records. That’s good enough for me, and if I need more, I switch over to the IBKR app that gives me more financial data, although it’s structured a bit differently. For those who need extra data within the Koyfin app, there are paid plans available starting at $39 per month. Expensive, I know, but it’s worth it for people who invest a lot of money, whether long-term or by trading.

Koyfin is great at providing raw data, but when it comes to commentaries and analysis, I turn to MarketWatch. It’s a great source of news, keeping me on top of the major shifts on financial markets. Whether it’s an upcoming FED meeting, reports on inflation or the job market, and up-to-date financial reports released by big companies, MarketWatch has my back.

The market moves with the news, so staying on top of all the latest has given me plenty of opportunities over the years. Although I prefer to buy and hold, so invest for the long term, I also trade a bit, as already mentioned. Breaking news has translated into a few winning trades that made me feel like a hotshot Wall Street trader. There were some losses as well, but let’s not get into that for the sake of my ego.

MarketWatch’s coverage is great, and free. Well, at least some of it. There’s a limit on how much you can read without opening your wallet, after which a subscription is required. There are deals to be had, some of which even bundle access to The Wall Street Journal for just a few bucks per month.

Last but not least is Gemini, an app that I use more and more on a daily basis. I use it for a couple of different reasons. I sometimes prompt it for an overview of yesterday’s trading day with very specific details I want to know.

These include a look at all the major indexes and what drove their prices up/down, top 10 gainers and losers for the day alongside a quick analysis about reasons behind their moves, and a look at what to expect today. It’s a great way to get an overview with the exact details I need as opposed to reading a general overview online that may leave me with a few open questions.

Gemini is also great at helping me learn about everything money-related as well as just refreshing my memory on specific things. Whether I want to dive deeper into the details of IPOs, all the main factors that are moving financial markets, or something more general like how the money supply is actually increased in our economy, Gemini has my back.

Gemini’s new Guided Learning is great for refreshing my memory, for example, since it doesn’t just spit out answers but nudges me to think. It asks questions and gives me hints for what the answers might be, which is a great way to learn if you ask me. At least if you are already somewhat familiar with a certain topic. If not, it can be a bit of a pain, as my colleague Megan explained in her recent article.

These are the five apps that help me reach my financial goals, although there are plenty of other great options out there. Which ones do you use, and how do they benefit you? Let me know in the comments.