The Best Financial Apps for Families

 

Apps can be a great way to help families manage their money more effectively. Below I have put together a list of some popular financial apps and some of the important information you’ll need to know to make the best decision. 

1. YNAB (You Need a Budget)

YNAB is a budgeting app that focuses on helping users give every dollar a job, prioritize expenses, and save money. It’s known for its proactive budgeting approach and educational resources.

Features: 

Zero-based budgeting approach.

Goal tracking for savings, debt payoff, and other financial goals.

Bank account syncing and transaction tracking.

Detailed reports and visualizations.

Pros:

Encourages proactive and mindful spending.

Excellent customer support and educational content.

Highly customizable budgeting categories.

Cons:

Requires a learning curve, especially for beginners.

Subscription fee ($14.99/month or $99/year).

Best For: Families looking for a structured, detailed approach to budgeting and those serious about taking control of their finances.

2. Mint

Mint is a free, user-friendly app that allows users to track spending, create budgets, and monitor financial accounts in one place. It’s widely used and well-known for its simplicity.

Features:

Automatic account syncing for bank accounts, credit cards, loans, and investments.

Budget creation and tracking with customizable categories.

Bill tracking and reminders.

Credit score monitoring.

Pros:

Free to use with robust features for basic budgeting and financial tracking.

Easy to set up and use.

Visual spending insights and trends.

Cons:

Ads and promotions within the app can be distracting.

Limited customization compared to other budgeting apps.

Best For: Families looking for a simple, free solution to track spending and manage finances with minimal setup.

3. PocketGuard

PocketGuard is a budgeting app designed to help users quickly see how much disposable income they have after accounting for bills, goals, and necessities. It simplifies financial management by focusing on what’s available to spend.

Features:

Automatic account syncing and transaction categorization.

"In My Pocket" feature shows how much money is available to spend.

Budgeting for bills, savings, and spending categories.

Insights into spending habits.

Pros:

Simple, user-friendly interface.

Helpful for managing day-to-day spending.

Free version available with essential features.

 Cons:

 Limited goal-tracking features compared to other apps.

Some features require a paid subscription ($7.99/month or $79.99/year).

Best For: Families seeking a straightforward app to manage everyday spending and avoid overspending.

4. Goodbudget

Goodbudget is an app that uses the envelope budgeting method, where you allocate money into different “envelopes” for various spending categories. It’s ideal for families who want to stick to a predetermined budget.

Features:

Envelope budgeting system with customizable categories.

Syncing across multiple devices for family use.

Debt tracking and saving for goals.

Manual transaction entry and import from bank statements.

Pros:

Easy to use and great for families who prefer a traditional envelope system.

Syncs across devices, making it easy for couples or families to manage together.

Free version available (though limited).

Cons:

No automatic bank syncing (transactions must be entered manually or imported).

Limited reporting features.

Best For: Families who prefer a manual, envelope-style approach to budgeting and want to manage money as a team.

5. EveryDollar

EveryDollar is a budgeting app developed by Ramsey Solutions, following the principles of Dave Ramsey’s financial advice. It’s designed to help users create and follow a zero-based budget.

Features:

Zero-based budgeting with customizable categories.

Track spending and savings goals.

Sync with your bank accounts (in the paid version).

Simple, intuitive interface.

Pros:

Easy to use with a clear focus on zero-based budgeting.

Helps users stay on track with the principles of debt reduction and savings.

Free version available with basic features.

Cons:

Bank syncing is only available in the paid version ($12.99/month or $79.99/year).

Limited advanced features compared to other apps.

Best For: Families following or interested in Dave Ramsey’s financial principles and looking for a straightforward budgeting tool.

6. Honeydue

Honeydue is a budgeting app designed specifically for couples, allowing them to manage their finances together while keeping some spending private if desired. It’s useful for tracking shared expenses and budgeting together.

Features:

Joint budgeting and expense tracking.

Bill reminders and alerts.

Customisable privacy settings for individual spending.

Sync with multiple financial accounts.

Pros:

Tailored for couples, with features to manage shared and individual finances.

Free to use with no ads.

Privacy options allow for some financial independence.

Cons:

Limited advanced budgeting and investment features.

May not be as comprehensive for larger family budgeting.

Best For: Couples who want to manage shared finances together while maintaining some financial independence.

These apps offer a variety of features to help families manage their money, from simple budgeting tools to more comprehensive financial management solutions.

Depending on your family's needs and preferences, you can choose the one that best fits your financial goals and lifestyle.

How to Turn Your Car into a Money-Making Machine

 

Earning money with your vehicle through ridesharing, delivery services, and other opportunities can be a flexible and even a profitable way to supplement your income.

1. Explore ride-sharing services

Uber/Lyft: Sign up as a driver for popular ridesharing platforms like Uber or Lyft. These services allow you to earn money by giving rides to passengers in your area.

Driver requirements: Ensure your vehicle meets the requirements for the platform you choose. This often includes passing a vehicle inspection, having a valid driver’s license, and passing a background check.

Maximise earnings: To maximise earnings, drive during peak hours, such as rush hours, weekends, and holidays when demand is higher.

2. Consider delivery services

Food delivery: Platforms like DoorDash, Uber Eats, Grubhub, and Postmates allow you to earn money by delivering food from restaurants to customers.

Grocery delivery: Services like Instacart and Shipt enable you to shop for and deliver groceries to customers.

Parcel delivery: Amazon Flex allows you to deliver packages for Amazon, typically offering a higher per-hour earning potential compared to food delivery.

Efficiency tips: To increase efficiency, plan your routes in advance, deliver during high-demand times, and consider using multiple platforms simultaneously.

3. Leverage specialised delivery services

Medical deliveries: Some companies specialize in medical deliveries, including medications and lab samples. These jobs often pay more but may require additional background checks or certifications.

Pet transport: If you love animals, consider working with pet transport companies to earn money by transporting pets between locations.

Courier services: Many local businesses or individuals need courier services for documents or packages. You can find these opportunities through apps or local classifieds.

4. Rent out your vehicle

Car rental services: Platforms like Turo or Getaround allow you to rent out your car to others when you’re not using it. This can be a good option if you have a vehicle that isn’t in constant use.

Lease to ride-share drivers: Some rideshare platforms or independent businesses allow you to lease your vehicle to other drivers, earning a passive income while someone else drives.

5. Start a moving or delivery business

Small moves: Use your vehicle for small moving jobs, helping people move furniture or small loads. Apps like Dolly or TaskRabbit can connect you with clients.

Local deliveries: Partner with local businesses to offer delivery services. This could include delivering flowers, groceries, or other items for a flat fee.

Advertise locally: Promote your services in local communities through flyers, social media, and online classifieds like Craigslist.

6. Be aware of costs and maintenance

Track expenses: Keep detailed records of your expenses, including gas, maintenance, insurance, and depreciation. These can often be deducted as business expenses if you’re filing taxes as an independent contractor.

Insurance: Check with your insurance provider to ensure you have the proper coverage for commercial activities, such as ridesharing or delivery.

Vehicle maintenance: Regularly maintain your vehicle to avoid breakdowns and costly repairs. Consider setting aside a portion of your earnings for future maintenance.

7. Manage your schedule and earnings

Flexible hours: One of the biggest advantages of using your vehicle to earn money is the flexibility. You can set your own hours and work as much or as little as you want.

Use multiple platforms: Sign up for multiple platforms to diversify your income sources and minimize downtime. For example, you can drive for Uber and deliver for DoorDash when ride requests are slow.

Set income goals: Set daily or weekly income goals to stay motivated and track your progress. Adjust your working hours or strategies based on your earnings.

8. Consider tax implications

Self-employment taxes: Remember that earnings from ridesharing and delivery services are typically considered self-employment income, meaning you’ll need to pay self-employment taxes.

Quarterly payments: Consider making quarterly estimated tax payments to avoid a large tax bill at the end of the year.

Keep records: Use apps or accounting software to track your mileage, income, and expenses. This will help you maximize deductions and simplify tax filing.

9. Customer service and safety

Provide excellent service: High ratings and tips are crucial for maximizing earnings in ridesharing and delivery services. Be courteous, punctual, and attentive to customer needs.

Stay safe: Prioritise safety by following all traffic laws, keeping your vehicle in good condition, and being aware of your surroundings, especially when driving in unfamiliar areas or late at night.

10. Stay updated on opportunities

New apps: New platforms and apps are constantly emerging. Stay informed about new opportunities that might offer better pay or benefits.

Join online communities: Participate in online forums or social media groups for rideshare and delivery drivers to share tips, experiences, and information about earning opportunities.

By leveraging these strategies, you can effectively use your vehicle to earn money, whether as a side hustle or a primary source of income.

Preparing Your Child for the First Day of School

 

Easing the transition into school life, whether starting school for the first time or transitioning to a new school or grade, can be challenging for both children and parents. 

Making the transition easier can be done in a few simple steps. 

1. Prepare emotionally

Discuss what school will be like, addressing any fears or concerns your child may have. Use positive language to create excitement about the new experience.

Read books about starting school or transitioning to a new grade to help your child understand what to expect.

If possible, visit the school before the first day. Walk around the building, show them their classroom, and introduce them to their teacher if available.

2. Establish a routine

Begin establishing a school routine a few weeks before school starts. This includes setting regular bedtimes, wake-up times, and meal times.

Practice getting up, dressed, and ready for school to help ease the morning rush and anxiety.

If your child is old enough, establish a designated homework time and space where they can focus on their schoolwork.

3. Involve your child in preparation

Take your child shopping for school supplies, a backpack, and clothes. Letting them pick out their items can make them more excited about school.

Label your child’s belongings together, such as lunchboxes, backpacks, and clothing, to help them feel responsible for their things.

Encourage your child to practice skills they’ll need at school, like tying shoes, opening lunch containers, and organizing their belongings.

4. Connect with classmates

If possible, arrange playdates with classmates or neighbors who will be attending the same school. Familiar faces can make the transition less intimidating.

Attend any orientation events or meet-the-teacher sessions to help your child feel more comfortable in the new environment.

5. Encourage open communication

Ask your child about their feelings leading up to the first day of school and continue to check in regularly during the first few weeks.

Be patient and listen to your child’s concerns without dismissing them. Offer reassurance and solutions to any problems they might face.

6. Promote positive attitudes

Talk about the fun aspects of school, such as making new friends, participating in activities, or learning new things.

Model a positive attitude about school and learning. Your enthusiasm can help reduce any of your child’s anxiety.

7. Create a support system

Establish a relationship with your child’s teacher and communicate any concerns or questions you might have.

Attend school events, volunteer if possible, and stay engaged with your child’s school life to show your support.

8. Help develop social skills

Practice social scenarios, like introducing themselves to new friends or asking for help from a teacher, to build your child’s confidence.

Encourage your child to participate in class discussions and extracurricular activities to help them feel more connected to their school community.

9. Monitor progress

Pay attention to any changes in your child’s behavior that might indicate they’re struggling with the transition, such as changes in sleep patterns, appetite, or mood.

If your child is having difficulty adjusting, address the issues promptly by talking with the child, their teachers or seeking additional support if necessary.

10. Celebrate milestones

Celebrate your child’s milestones, such as their first week of school or making new friends, to reinforce a positive experience. 

Reward your child’s efforts and progress with praise or small treats to encourage a positive attitude toward school.

By taking some of these steps, you can help your child feel more comfortable and confident as they transition into school life.