Like everyone, experts have their favorite ways of managing money, whether they’re budgeting, managing credit card rewards, investing or keeping track of their expenses.
What we love about the members of our CNET Expert Review Board is that they know what it’s like to start from scratch to save your first $1,000 or get out of debt. And now they’re dishing on the apps they use to keep their money organized.
CNET Experts’ favorite money apps
How you manage your money is personal. So there’s no one choice all experts agree on -- and that’s OK. But here are a few of their favorites.
1. Empower
Combines budgeting and investing features
There are many money apps that can streamline your budget, and apps that offer robust investing tools, but you usually don’t find both in one app. Empower is the exception.
Empower is a budget planner that Jannese Torres, a money coach, founder of the Yo Quiero Dinero podcast and CNET ERB member recommends. The app lets you set a line-by-line budget, create savings goals and open investment accounts. And you can customize categories to figure out where you’re spending most.
Empower has a few additional upsides, including a retirement planner and an all-in-one dashboard to keep track of all of your financial goals in one spot. Even though the app seems geared toward those focused on investing, you can also link your credit card and bank accounts.
It’s also worth noting that account users mentioned that some accounts don’t update so your balances may not always be accurate. And some accounts don’t work with the app, such as American Express and Virgin.
Pros
Manage budgeting and investing together.
All-in-one dashboard to track goals.
Offers retirement and budget planners.
Can link bank, investing and credit card accounts.
Cons
$100,000 account minimum to invest.
2. AwardWallet
Great for managing credit card perks and rewards
AwardWallet is like the one-stop shop for all of your rewards, whether it’s your Target Circle or Chase Ultimate Rewards.
If you have several reward credit cards, it’s the go-to app that Jason Steele, a credit card expert, recommends.
It tracks your points for most hotels and airlines, such as JetBlue and Marriott.
Plus, you can manage all of your credit card benefits, rewards and any available credits in one spot. This can come in handy when you’re planning a trip and want to see what’s available to maximize your rewards. And when you book your trip, all of your itineraries can be stored in the app. AwardWallet also sends reminders when credits and benefits are about to expire.
Even if you don’t have a ton of credit cards, the app can still keep all of your loyalty cards in one spot and you can scan them in person at checkout. While the app is free, an upgraded version costs $30 for a one-year membership.
Pros
Track all of your credit card rewards and miles in one place.
Keep loyalty cards in one place for easy access when checking out.
Expiration reminders for benefits and credits that will end soon.
Cons
Not all accounts work with the app.
Accounts may not always be up to date.
May have to pay $30 annual subscription if you have a lot of rewards to track.
3. Qapital
Helpful for couples managing combined finances
Qapital is another saving and investing app option that experts love -- especially for managing shared finances.
Alaina Fingal, owner of The Organized Money, uses Qapital Basic since she doesn’t need investment or debit card services that come with the upgraded tier. She mainly uses the app to keep track of her additional savings. “With the basic option I am still able to automate my savings and add additional saving rules,” Fingal said. “It’s perfect for my needs.”
She has used the app for over five years, and it has helped her save over $25,000.
It may also be an ideal pick if you want to partner with someone to manage finances in one spot. You’ll still be able to keep some financial information private if you want. Qapital lets you set goals, make automatic deposits and divvy up your money for each budget category or goal with each deposit. For example, you may decide to put 20% toward your emergency fund for each paycheck. You can also make adjustments when needed -- like skipping a deposit or putting less toward a certain goal. Investing features are also available.
And Qapital is FDIC-insured for up to $250,000. But you won’t earn interest, as you would with a high-yield savings account. Transferring money to your external account usually takes three days, Fingal added. So the account can come in handy if you know you’ll need the money on a specific date, like Christmas or birthdays -- but not in a pinch.
Qapital accounts cost $3 up to $12 for its Premier account and offers a 30-day money-back guarantee.
Pros
Two people can manage one account to keep savings together.
Set and track financial goals.
Automatic deposits available.
Ability to allocate how much money goes toward each goal.
FDIC-insured up to $250,000 per person, per account.
30-day money-back guarantee.
Cons
External transfers are not automatic.
Plans cost from $3 to $12 per month.
4. Quicken
Useful if you’re self-employed and need to track personal or business transactions
Mark Kantrowitz, a student loan expert, and Aaron Hurd, a credit card expert, both are big fans of Quicken’s accounting features.
Kantrowitz has been using Quicken for almost 30 years. He uses the Quicken Classic Business for business transactions and the Quicken Personal account to track his personal cash flow.
Plus, it’s easy to reconcile online transactions with manually entered transactions, he added. Kantrowitz also uses Quicken to record payments from freelance work, but he still uses spreadsheets to track assignments before invoicing them.
Hurd agrees -- he likes Quicken because it helps him audit transactions and he can automatically download and review all of his bank transactions in one place.
This feature may come in handy if you’re managing several credit cards or bank accounts and want a full understanding of your spending. A few other helpful features include bill payment reminders and real-time alerts. Plus, you can track your investing accounts too.
Quicken has three plans to choose from, ranging from $3 to $10 per month with a 30-day money-back guarantee. If you’re looking for a place to manage both business and personal finances, it’s worth checking out. An app and desktop version are available.
Pros
30-day money-back guarantee.
Personalized spending plans.
Customizable reports for your spending, saving and income.
Manage both business and personal finances.
Cons
Monthly cost ranges from $3 to $10.
Choose the app that’s best for you
Whether you’re looking to track all of your accounts in one place or take the guesswork out of saving, the right money app can help you keep track of your money goals and help with steps you can take to reach them. But even if it’s not an expert pick, it’s more about finding the best way to keep track of your income and spending.
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