Let’s speak about money, or more specifically, how your relationship with it is all over the
place. You promise that every month will be different: “This time, I’ll save.” Then, all of a
sudden, it’s the weekend, an Uber fee happens, and you’re asking that one friend who
“forgot” to give you back money from 2021 to pay you back.
Enter: personal finance programs, which are fancy pieces of software that assist you keep
track of your money. These apps say they will help you manage, analyze, and shame your
spending habits, all while making it look like you’re doing something really grown-up.
So, yeah, this is your intervention, but it’s wrapped up in a blog post. It’s time to upgrade if
your present “system” is to check your bank app and say “please be enough” quietly.
A harsh but fair comparison of your brain and a finance program
Let’s be honest: your brain was not built to budget. It was made to go after dopamine, not
compound interest.
When you try to handle your money alone, your brain focuses on exciting things like buying
expensive coffee and buying tickets to concerts on a whim, and it ignores tedious things like
saving, paying bills, or getting ready for taxes.
That’s where programs for personal finance come in. They don’t care about vibes. They
worry about numbers.
These apps help you be an adult:
Keep track of every cost, even that $9.50 energy drink.
Put your terrible choices into groups, such “Food” and “Definitely Not a Drink Problem.”
Let you know when your bank account is empty.
Make graphs that you may safely ignore.
Sending push notifications such, “This is where your money went this week!” Thanks for the
reminder, Mint. I didn’t need that emotional hurt today.
But really, they really work. They are real. They’re the helpful friend who will hold you
accountable for your pocketbook.
What could be more motivating than an app that tells you you spent $37 at Taco Bell in a
month?
The Big Guns: The Well-Known Programs That Everyone Says They Know
So, you’ve finally made the decision to take your money seriously. When you search for
“best personal finance programs,” 10,000 results come up, all promising to alter your life.
Spoiler: a few might actually work. Here’s a quick guide to the most popular fans:
- Mint (RIP to the original)
Mint was the app that broke millennials used to pretend they knew how to read charts. It kept
track of your spending, put your expenses into groups, and sent you judgmental warnings
faster than your mom inquiring if you’ve paid your vehicle insurance.
But Intuit, the corporation that owns it, just chosen to combine it with something called Credit
Karma Money. Translation: branding confusion.
Still, Mint went right into your private data so that every other budgeting software could run. - You Need a Budget (YNAB)
YNAB is not an app for budgeting. It’s a cult, but a good one. “Give every dollar a job” is their
main idea. That sounds good until you realize that half of your money is just sitting around
doing nothing.
The secret to YNAB’s success is accountability. Every dollar goes to a specific purpose,
such rent, savings, therapy, or skincare (since we value mental and emotional health).
Also, YNAB costs money. But bad planning isn’t free either. - EveryDollar
EveryDollar was made by financial expert Dave Ramsey for people who like to stick to the
rules. It’s easy to use, works well, and has a lot of “no-nonsense middle-class dad energy.”
If you want structure, detest credit cards, and like to feel guilty to get motivated, you’ll love it. - Speed up
The dinosaur of software for finance. Your parents probably used it. It keeps track of
everything, from your financial worth to the trauma you went through in 2008.
It’s a bit clumsy, but it’s the kind of application that says, “I own a house and one smart
Subaru.” - Empower, which used to be called Personal Capital
Empower is the place where investing and budgeting come together. It looks slick and
sophisticated, and even while you’re using it, it feels a little out of your league. It keeps track
of all your spending, retirement, and stocks in one location.
In a nutshell, if Mint was your ex who ghosted you, Empower is the calm, grown-up rebound
who really texts you back.
They are there to help you, both with your money problems and with your insomnia.
How personal finance programs make you feel like you have to be responsible
This is where the magic happens: these apps make being responsible a little bit fun.
They know how to exploit psychology better than your ex ever did. Here’s how:
Gameification: Now, budgeting seems like a game. You reach your goals, gain
achievements, and feel the exhilaration of “You saved $10 on gas!”
Color coding: Your brain likes pretty things. Red indicates “suffering,” whereas green means
“treat yourself (but be responsible).”
Alerts for cars: They make sure you never forget about bills, paycheck, or tax season. You
can ignore them, but the guilt will stay with you, just as they wanted.
Keeping track of progress: Seeing your debt go down or your savings go up is like seeing
how much weight you lost at the gym (but without the painful abs).
They make you feel happy by doing things that would normally make you cry. They’re like
workout applications for your pocketbook, but instead of getting six-pack abs, you get “not
broke” energy.
And let’s be honest: when a graph goes up instead of down, it’s the little serotonin boost we
all need.
Personal finance programs show that even pain can sell itself as progress if it has enough
nice pictures.
The Dark Side: Apps That Judge You (and Sort of Own You)
It’s all sunshine and thoughts of passive money until your budgeting software starts sending
you reminders at the worst moments.
Think about this:
You are at Target.
You just spent $85 on snacks and candles.
Your app sends you a message that says, “You’ve gone over your shopping budget for the
week.”
Not nice.
Let’s also talk about the privacy panic. To use these financial programs, you need to connect
your bank accounts, credit cards, and personal information. It’s useful, but it’s also a digital
nightmare for people who are worried.
“Bank-level encryption” is a terrific way to market something, but hackers undoubtedly laugh
every time they hear it. Most apps are rather secure, but if you use a free one, remember
that you’re not the customer; you’re the product.
Automation sounds great, but it’s also scary: “Wait, did my app just move $300 out of my
checking account on purpose?”
When it comes to personal finance technology, you have to trust it. Your parachute is
customer support that gets back to you in five to seven business days.
Do programs really work, or is this just a bunch of digital snake oil?
Yes, they do work. But only if you want to. No program can change how you spend money
on Amazon at 3 a.m. or make you remember that “emergency fund” doesn’t imply “Taylor
Swift tickets.”
They’re not miracles; they’re tools. You get what you put in. You might have YNAB, Mint, and
Empower all downloaded, but if you only open them once a month and head directly to the
“net worth” tab to feel horrible, nothing will change.
The software in a personal financial program isn’t what makes it powerful; it’s the
accountability. Seeing your financial problems laid out in pie charts and thinking, “Wow.” This
might be the story of how I became a bad guy.
Make sure you use it often. Make sure your accounts are in sync. Celebrate small
successes. And when the guilt hits (and it will), use it as fuel instead of giving up.
It’s not punishment to budget; it’s just a way to retire early.
The “You’ve Read This Far, You Must Be Desperate” End
Congratulations if you’re still here. You’re already doing better than half of Americans, who
try to “avoid eye contact with debt.”
Personal finance programs can’t fix everything. But they can help you understand your
money better and calm down a little. You can finally stop guessing and start controlling your
life with the proper software and a short attention span.
So go ahead. Get something valuable. Connect your accounts. And maybe, just maybe, this
will be the paycheck that doesn’t go away before the rent is due.
