It’s no secret that teenagers can be pretty impulsive when it comes to spending money. In fact, a recent study found that nearly half of all American teenagers have made a financial mistake that has cost them money.
With that in mind, it’s important to teach your teen how to manage their money wisely. One way to do that is to help them find smartphone apps that can assist with budgeting, tracking expenses, and saving money.
Here are five great smartphone apps to get your teen started on the path to financial success:
Mint
Mint is a free app that helps users track their spending, set budget goals, and stay on top of their financial progress. It’s a great tool for helping your teen see where their money is going and where they can cut back on expenses.
Wally
Wally is another free app that’s great for budgeting and tracking expenses. It also helps users find ways to save money and reach their financial goals.
Acorns
Acorns is an investing app that helps users grow their money by investing small amounts of spare change. It’s a great way to get your teen started on the path to long-term financial success.
Digit
Digit is an app that helps users save money by automatically transferring small amounts of money from their checking account into a savings account. It’s a great way to help your teen build up their savings without having to think about it.
You Need a Budget
You Need a Budget (YNAB) is a paid app that helps users create a budget and stick to it. It’s a great tool for teaching your teen the importance of living within their means.
Helping your teen find smartphone apps that can assist with their finances is a great way to teach them how to manage their money wisely. By using these apps, your teen will learn how to budget, track their expenses, and save money.
