In today’s world, financial literacy is paramount to wealth building and unlocking your life dreams, whether it’s owning a home, buying that expensive new toy, or retiring early.
Building wealth is a slow and patient process, but with the right digital tools, you can achieve your financial dreams faster than ever. BLACK ENTERPRISE is here to help you with a list of wealth-building apps that can put you on the fast lane to financial freedom.
1 . Empower Personal Wealth
The Empower Personal Wealth app is largely an investment tool. However, it also includes tools that can help users track spending and monitor checking and saving accounts and credit cards. Users can also use it to keep track of their 401(k)s, IRAs, mortgages, and loans.
Users can also tailor the settings to break down their monthly spending and see the percentage of total monthly spending each. This app is great for getting your finances in a position to begin investing and having your money work for you.
The Empower Personal Wealth app is available in both the Apple Store and the Google Play Store and is available on desktop as well.
2. Goodbudget
Goodbudget helps its users develop good financial habits by using the traditional envelope system to help its users budget their expenses—the app includes both a free version and one with more capabilities that cost $8 a month.
Additionally, Goodbudget analyzes your income and where users spend their money. The app also provides resources, including podcasts and courses, to help users better save and spend money.
While the app doesn’t have investing resources, this is another terrific app that can help users get to the point where they begin to think about investing. The app has earned a spot on Forbes Advisors’ Best Budgeting Apps of 2023.
3. Acorns
For those who want to invest but aren’t experienced with it, Acorns Invest could be the full-service app for you. Not only does Acorns allow users to invest in a range of accounts, including brokerage accounts, retirement saving accounts, and Environmental, Social, and Governance (ESG) portfolios, but Acorns also includes banking options, including checking accounts and debit cards.
Additionally, Acorns includes multiple options for investing for as little as $3 a month. Acorns offers educational videos and tips so users can learn the ins and outs of financial literacy.
Acorns Invest is also partnered with a bevy of companies, including Airbnb, Google, and PayPal. When users make a purchase with one of its partnered retailers through its Found Money portal, Acorns will invest a percentage of your sales into your Acorns Invest account.
4. Ellevest
Ellevest is the first and only investing platform founded, funded and built by women, for women, although the app is for both men and women.
Unlike other investing apps, Ellevest charges a flat $12 fee for new clients no matter the amount you have, so as your assets grow, your advisory fee will stay the same. Ellevest clients receive up to a 50% discount on one-on-one financial planning with a certified financial planner. Clients can also access individual sessions on budgeting, homebuying, and more. If you want to access 1:1 support and guidance, it’s best to become a client, saving you money.
If you will use most or all of Ellevest’s features, it’s best to become a member, saving you money.