Effectively managing finances involves tracking expenses and budgeting, which becomes much easier with apps. For students, Mint, YNAB (You Need A Budget), and PocketGuard are useful in tracking spending habits, categorizing expenses, and establishing financial goals. Such apps help keep students within their budget and avoid overspending by tracking financial habits in real time.
Cashback rewards can also be utilized to save money on everyday purchases. Cashback apps such as Rakuten, Ibotta, and Dosh allow students to earn money back on qualifying groceries, clothing, and even online shopping. Students can take advantage of these apps as they partner with major retailers, allowing users to get a portion of their expenses back with qualifying purchases. If used correctly, these apps can help students save a considerable amount over time.
With the rise of technology, many students grant exclusive deals to different companies. These deals can be accessed through apps such as UNiDAYS, Student Beans, and ID.me. These platforms grant students discounts on clothing, food, tech products, as well as entertainment services. Students can unlock significant savings on brands they regularly use by simply signing up with a valid student email address.
Cuts on Food Expenses Using Grocery Savings Apps
The costs associated with food tend to grow in number quite quickly, but grocery savings apps can help reduce the burden. For example, Flipp, Checkout 51, and Too Good To Go provide cashback, discounted and listed groceries. While Flipp assists students in searching for digital coupons and deals for the week, Too Good To Go enables them to purchase food at a very low cost from restaurants and grocery stores that have surplus unsold food.
Splitwise and Venmo Help Roommates and Friends Share Expenses
Sharing expenses and some bills with roommates or friends can be difficult, made easier with apps like Splitwise and Venmo. With Splitwise, users can list shared costs and make sure that each person’s contribution towards rent, utility bills, and groceries is accounted for. Venmo eases the process of sending money to friends, providing an easy way to share payments for meals, rides, and subscriptions.
Avoid Subscriptions Charges Using Subscription Management Apps
Apps tailored for managing subscriptions are problematic for students, as they can spend above the budgetary limits. Truebill and Trim are tailored towards students as they let users monitor subscriptions, remove unwanted ones, and re-establish service agreements for more favorable terms. These apps also detect some parameters school students tend to ignore and helps students minimize spending impacts.
How Apps Can Reduce Travel Costs
Apps like Skyscanner, Students’ Universe, and Hopper offer discounts on flights and accommodation to students, making travel easier for them. Transportation booking and hotel accommodation services are both offered by these apps. While Hopper recommends the most favorable time to purchase tickets, Students’ Universe gives students exclusive deals when they wish to travel.
How Apps Can Help Students Purchase Reasonably Priced Goods
Several apps, such as Poshmark, Depop, and Facebook Marketplace, allow for clothes, furniture, and even textbooks to be sold and bought literally at a fraction of the original cost. Students are able to sell and purchase items, which helps in saving money and putting extra cash in hand.
Free Apps For Study Material and Textbooks
Study materials such as textbooks and guides can become really pricey, and apps like Khan Academy, and Chegg offer free and reasonably priced study materials. Chegg also provides additional services for tutoring and textbook rentals. Students can borrow digital books from public libraries.
Program and Applications to Achieve Side Earnings
Using side earning programs and applications such as Fiverr, Task Rabbit, and Upwork allows students to ease their financial burdens. Students offer tutoring and graphic design services, freelance writing, and many other assignments that require their expertise. Additionally, students can take advantage of gig apps such as DoorDash and Instacart, which allow them to work when they have free time.
Savings and Investment Apps to Build Wealth
With so many options available, even students on a budget will be able to save and invest with Acorns, Robinhood, and Stash. Acorns, for example, rounds up the purchases made and invests the leftover cents, and Stash is perfect for those who want to get into investing because of the ultra-simplified investment opportunities provided. It is essential to instill these types of behaviors into students at an early age in order to set them up for success later in life.
Energetic And Utilitarian Apps to Automate Saving Money
Saving money on utility bills through negotiation frees up cash that can be put elsewhere. Using apps such as Sense helps track power usage while Billshark takes the hassle out of internet and phone bill negotiation. Sense gives students clear feedback on their power usage while Billshark assists with getting the best prices out there.
Discount Meal Delivery Applications
Meal planning combined with food discount apps makes dining on a budget extremely easy. For instance, Mealime and Paprika enable students who have limited financial resources to plan their meals and reduce grocery shopping and food waste. Discounted takeout meals via student promo codes are also available through DoorDash and Uber Eats, making meal takeout more affordable when necessary.
Personal Finance Educational Apps for Enhanced Decisional Autonomy
Practicing personal finance is an essential aspect of being financially independent, and platforms like Financial IQ as well as Goodbudget and Wally offer financial literacy services to students. These apps outline budgeting and saving and investing strategies, enabling students to make sound financial choices even when money is scarce.
