8 Best Personal Finance Apps: Opportunity or Threat For Asset Management Companies?

Acorns

I hate coins. They are inconvenient and I almost never use them because life’s too short to stay at a checkout counter digging coins out of pockets (especially when your pockets are too tight because you’re too chunky for your pants). That’s why I try to avoid paying with cash as often as I can. Many people that do pay with cash put their spare change in piggy banks and don’t count it in their monthly budgets, usually rounding expenses to the nearest dollar. Now there’s an app that does the same thing for electronic payments and more. Acorns does not just automatically round your spending up to the nearest dollar, it also uses the change to invest in thousands of stocks, bonds, ETFs and other asset classes. The app has a bunch of portfolios suited for users based on their risk aversion. Now, let’s see what’s next on our list of best personal finance apps.

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