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How to Use Mobile Apps to Manage Your Personal Finances

How to Use Mobile Apps to Manage Your Personal Finances

In 2023, you don’t need to travel to your local high street bank to make amends to your personal finances. Instead, there are many ways that consumers can take control of their money from the comfort of their own homes. This is all thanks to revolutionary technology that has enabled providers to offer secure and effective mobile finance solutions. 

Despite the growing popularity of online banking, many consumers fail to take advantage of everything that is available to them. To help, we take a look at 3 easy ways to manage your personal finances from straight from your phone. 

1. Save Your Spare Change

If you regularly use your phone to make contactless purchases, you may want to consider using an automatic savings app. These apps round up the amount you spend on each purchase and save the excess into a mobile savings account. This allows you to save money passively every time that you spend. 

The best apps that offer this feature include Plum, Acorns and Betterment. You would be surprised at the amount you can save just by rounding up every time that you spend. These apps are an excellent way to maximise your savings without having to think too much about it.

2. Invest in Stocks and Shares ISA

The majority of mobile banking apps offer much more than just sending and receiving money. Many users overlook the fantastic online investment options that are available on their phones. In particular, investing in an online stocks and shares ISA could be a great way to grow your savings in 2023. 

Stocks and Shares ISAs are a type of savings account through which your savings are invested into the stock market. If the market moves in your favour, this could lead to fantastic returns. You can access a range of stocks and shares ISAs on mobile apps such as Moneybox and Chip. 

In the UK for the 2022/2023 tax year, savers can invest up to£20,000 into stocks and shares ISAs. With the end of the tax year rapidly approaching, maximising your Stocks and Shares ISA allowance is key otherwise, you may miss out on potential returns. 

3. Use a Budgeting App

As well as using apps to save money, you can also use mobile apps to manage the amount of money that you spend. There are a number of excellent applications available that can create a personalised budget based on your financial situation and provide you with the tools that you need to stick to it.

Budgeting apps typically use the information to formulate a daily spending plan and use your phone notifications to hold you accountable throughout the day. These apps can be a fantastic way to live below your means and free up some extra cash for your savings. 


There are hundreds of mobile apps available that could help you to improve your personal finances. Understanding how to use them could be a great way to meet your financial goals in 2023. It is important to conduct thorough research before using any kind of money management application. While most apps are safe, always be aware of possible scams!

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