Are There Any Apps to Save Money and Cut Back on Spending?

In today’s digital age, there is an app for almost everything – from tracking your fitness goals to ordering food with just a few taps on your phone . But did you know that there are also several apps available that can help you save money? Money-saving apps are designed to assist in effectively managing finances, finding deals that best suit you, and making wise purchases decisions. Whether your aim is saving for an important goal or cutting unnecessary spending expenses altogether, money-saving apps can prove immensely valuable.

Saving more money and spending less are usually two goals that most people have. Traditional solutions, such as budgeting plans, can be helpful, but they require time and effort that some individuals may not have.

The good news is that there are apps that can help you take control of your finances, no matter what your goals are. Here are some apps that can help you save money and cut back on spending:


One popular budgeting method is the envelope method. With this, people manage their money and control their spending by using physical or digital envelopes to allocate funds for different spending categories. 

Once that money is allocated into the categories, that is the maximum amount that you get to use that month. 

Goodbudget is one app that allows for this budgeting method digitally. With Goodbudget, you can:

  • Create a digital envelope budget with different categories.
  • Share your budget with another person. 
  • It can help you create a plan for debt. 
  • Goodbudget can also help you make a savings plan. 

Rocket Money 

Rocket Money provides the ability to manage your money through a single platform. You can get notifications every time you spend or a bill gets paid. Along with that, they offer budgeting and savings goal options. One thing that makes them unique is that they help you monitor your subscription services and can even cancel some for you. With Rocket Money, you can:

  • Check your net worth
  • Create a budget for yourself.
  • Track your spending down to a category. 
  • Analyze spending patterns.
  • Cancel subscriptions (as mentioned above).
  • They may be able to negotiate bills!


PocketGuard offers a complete overview and management tool for your finances. With Pocketguard, you can link up your major financial accounts, such as checking, savings, investments, debts, etc., and then manage your money based on any goals you have. Here are some features that PocketGuard offers:

  • Credit score monitoring.
  • Budgeting. 
  • Bill tracking. 
  • Expense tracking.
  • Gives you an idea of how much money you have to spend after all your important bills are paid.


Mint is a popular personal finance app developed by Intuit. It is designed to help individuals:

  • Manage their money.
  • Track expenses.
  • Create budgets.

Mint provides a comprehensive overview of your financial situation by connecting to your bank accounts, credit cards, loans, investments, and other financial accounts.

YNAB (You Need A Budget)

YNAB is a budgeting app that follows the “zero-based budgeting” approach, where every dollar is assigned a specific purpose. It helps you plan your expenses, prioritize savings, and avoid overspending.


Trim is an app that analyzes your spending patterns which can be a huge help for many people! Along with that, it helps you find recurring subscriptions or services you might not need. It can also negotiate bills on your behalf to potentially lower your expenses like car payments and car title loans.

Some Things to Keep in Mind With Budgeting and Money Apps

Even though budgeting apps may be useful, they might not suit every person. Here are a few factors you should keep in mind with budgeting apps:

  • You will likely need an online bank account: Even though an online bank account may not be necessary, most money apps allow their users to link directly into a physical bank account for transfers and account management.
  • You may have to link your financial accounts on top of your bank accounts: Money apps often ask that you link other financial accounts, like credit cards or investment funds, with them.
  • It is important to review an app’s security policy: Choose apps from reputable developers and check their security measures. Ensure the app uses encryption to protect your financial data and that it has a strong privacy policy. Avoid sharing sensitive information with untrusted apps.
  • Phishing and scams: Be cautious of phishing attempts or scams related to money apps. Never share your login credentials or sensitive information through emails or suspicious links.
  • Read terms and conditions: Familiarize yourself with the app’s terms and conditions, especially regarding data usage, sharing, and any potential third-party involvement.

Financial apps can be invaluable tools when trying to save money or reduce spending, with so many available to choose from. Before selecting one though, make sure that you research their terms and conditions thoroughly first!

What Should I do if I Can’t Save Money?

Those having difficulty saving money should take several steps to better their situation. First and foremost is taking an honest inventory of both income and expenditure to identify any wasteful spending patterns or areas for savings. Second, create a budget. Use any one of the aforementioned apps to help you establish your budget, such as RocketMoney or Trim! Thirdly, the most important thing you should do if you can’t save money is take an honest look at your finances and spending habits. If you are in over your head in debt, a budget isn’t going to save you! The last thing you need to do is consider a debt consolidation loan from LoanMart to get back on your feet and get your finances in order.