5 Apps You Need to Manage Your Money

1 of 5

Your Bank's App

First things first: download your bank's app. Not all bank apps are created equally, but most allow you to check your account balance, pay bills, locate its nearest branch, even deposit cheques and transfer funds on the go. RBC's personal banking app, for example, uses Touch ID^‡ for better security, and acts as a companion to its wallet app, which will hold your debit and credit cards digitally, allowing you to make payments using your smartphone.

2 of 5

Mint^‡: Money Manager, Budget & Personal Finance

Free | Apple and Android

Mint is the granddaddy of personal finance apps, having won multiple awards since it's debut in 2008 for a good reason: it's easy to use. Simply sync it to your bank and investment accounts, and the app pulls all your financial information, displaying it on one easy-to-read dashboard. See where you can afford to splurge a little and where you need to reign in your spending by breaking down your expenses into different categories, such as mortgage payments, childcare, clothing and dining. This handy little app lets you set and save for financial goals, and keeps you on track by alerting you if you're approaching a set budget or when a bill is coming due.

3 of 5

Wally^‡

Free | Apple and Android

Wally is budgeting made easy—and with its slick interface, it's easy on the eyes, too. If your wallet is stuffed with receipts, then you'll appreciate Wally's ability to track your expenses simply by scanning a photo of your receipts. The app will then log and store these expenses into categories, using its location services function to help determine where you are and which category the receipt should be filed away in (an H&M receipt would be stored under "clothing", for example). Similar to Mint, the app can help keep you on track by alerting you when bills are due and when savings targets are met.

4 of 5

Stocard^‡

Free | Apple and Android

Ninety per cent of Canadians own at least one loyalty card, according to a 2015 study by Yahoo Inc., with the average Canadian keeping four in their wallet at all times. If this sounds like you, it's probably time to consolidate. Unfortunately, not all digital wallets sync with the loyalty cards you may carry. Enter Stocard. All you have to do is scan your loyalty card with your smartphone camera and you instantly have a digital version of it on your phone. One caveat: not all scanners will be able to pick up the bar codes from your phone. In these cases, the cashier can easily enter them manually.

5 of 5

Debt Manager

$0.99 | Apple

Swimming in debt? This app gives you the visual satisfaction of whittling it down, while also offering sound strategies for doing just that. Simply plug in your debts — mortgage or car payments, students loans, or a personal loan, for example — and start building your own custom payment plan. The app allows you to play with different ways of paying your debts down, such as organizing debts by interest rates or the smallest balance, for example, and it visually charts your progress. This particular app is only available on iTunes, but there are many similar apps available for Android users, such as Debt Payoff Planner and IOU - Debt Manager.

^‡Apple and Touch ID are trademarks of Apple Inc., registered in the US and other countries. All other trademarks are the property of their respective owner(s).

Kara Aaserud is a freelance writer who covers small business, finance, technology, health and parenting. Her work has appeared in Canadian Business, PROFIT, Today's Parent, and Glow.

This article is intended as general information only and is not to be relied upon as constituting legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. Information presented is believed to be factual and up-to-date but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or any of its affiliates.