Today, almost 80% of Americans use three or morefinance apps to track their expenses, including bills, subscriptions, and bank transactions. While financial apps have gained global popularity over the past decade, many Americans still have concerns about security, fraud risks, privacy, and misleading financial advice, as highlighted in this research. Why you need financial app The increase of demand for financial apps was detected in 2023 and from then to now it has been increasing from year to year. Key reasons: Convenience: You can check their balance, transactions and pay the bill at any time. Budgeting: Apps like Hubmee allow you to see all the regular payments ahead of time, it helps for better budget planning,run business and family finances. Credit score monitoring: Credit Score Monitoring: Rather than searching for a website to check your credit score, a financial app provides a quicker, more convenient way to access this information anytime. 📊 Statistical Insight: According to The Clearing House Consumer Research Report , 39% of U.S. banking customers have used at least one fintech app in the past year. Among them: 19% use personal finance managers or budgeting apps. 11% use investment tracking services. 10% rely on lending services. While financial apps are widely used, many users still have concerns regarding data privacy, security, and financial fraud. 99% of users are at least somewhat concerned about data privacy when using fintech apps. 67% are either very or extremely concerned about how their data is handled. What Finance App to choose Let’s see what financial apps are on the digital market right now and talk about their pros and cons. Hubmee - The All-in-One Financial & Life Manager Hubmee is all in one digital assistant for managing your life's areas: money, cars, property, daily agenda. It has a solid Financial Hub that covers all the main needs. Pros: Comprehensive Finance management: System allows you to all your bank accounts and it creates one combined dashboard with all your incomes and expenses and credit score. Different Accounts: In Hubmee you can manage your business, personal or family accounts. Payment Calendar: All regular payments are added to the calendar. So, you can see on what day and how much you will be charged. Life Organization: Together with finance management tools, you will get access to document management, you can upload all your insurance and Hubmee will remind you about expiration date. Security:Hubmee keeps your data safe with bank-grade encryption, automated backups, and privacy settings you control. Availability: The app is available on every device Android, IOS, WEB Cons: New on market: As a relatively new app, it may lack some advanced features found in more established financial management tools. Limited financial analytics: The app shows you how much you earn, how much you spend and analyzes all the recurrence payments and compares them to the previous month. Mint Mint is the app for personal finance management that helps people track their expenses, create good budgeting and manage accounts . Pros Budgeting: You can set budgets for different spending categories and receive alerts when exceeded the limits. Analytics: App provides analytics and reports about expenses, so it makes easier for you to monitor finances Free usage: Mint's basic features are available for free, which is good compared to other paid financial apps but with limited functions. Cons Ads inside the app: The app is free, but instead recommends financial products (credit cards, loans, etc.). Lack of investment analysis: App has basic features for tracking investments, but does not offer detailed analysis or advice. Limited customization options: You can not change the expenses categories or create customized analytic reports. YNAB - You Need a Budget YNAB is a powerful personal finance management app focused on budgeting using the "planned spending" method. It is suitable for those who want to closely monitor their money and improve their financial habits. Pros Flexibility and control: The system allows you to adjust the budget in real time and input transactions manually. Effective budgeting methodology: YNAB uses the "every dollar counts" approach, it helps to treat your income wisely and avoid random spending. Focus on long term goals: The system motivates not only to save, but also to create a financial "safety cushion" and accumulate funds. Manual input and automation: You can either manually enter transactions or synchronize the app with your bank accounts. Cons Lack of investment tools: The app lacks investment tracking features, which may be a downside for those who want to monitor their assets. No accounts tracking: YNAB does not have features for tracking bill payments or automatically paying them. Limited reports: YNAB has less analytical tools, then competitors which can make it difficult to assess your financial situation. No overview: App is mostly focused on budgeting tools and it doesn't provide a comprehensive analysis of your finances. 4.Pocket Guard Personal finance management app that helps users control spending and leave more money for savings Pros Expense Tracking: The application connects to bank accounts, credit cards and automatically analyzes expenses. Convenient budgeting: You can set spending limits in different categories and receive notifications when you reach the limit. Subscription Detection: PocketGuard finds subscriptions and helps you cancel unnecessary expenses. Multi currency support: It works with accounts in different currencies, which is convenient for international users. Cons No investment tracker: If you want to track stocks or cryptocurrency, you'll have to use a different app. Less Analytic: Reports and graphs are not as detailed as those of competitors like Hubmee. ted 5.Quicken The financial apps that help you manage your budget, track your expenses, investments, and even plan for retirement savings. It's more geared toward users who want to delve deeper into their finances. Pros Comprehensive financial tool: The app allows you to control your budget, expenses, debts, investments, and savings in one place. Overall financial analysis: Provides in-depth reports, graphs, and the ability to export data to Excel. Manage business finances: Quicken Home & Business versions allow you to track small business income and expenses. Cons Complex interface: Due to the large number of features, it may be difficult for beginners to understand all the features. Limited mobile version: The smartphone app is less functional than the desktop version. Single device lock: Quicken doesn’t run entirely in the cloud, so users have to store files locally.
While apps like Hubmee offer an all-in-one financial and life management solution, others like YNAB and Mint focus mostly on budgeting and expense tracking. Meanwhile, PocketGuard helps users control spending, and Quicken provides comprehensive financial management, including investment tracking. However, Hubmee is much more than just a financial app - it integrates task management, document storage, property tracking, and daily planning, making it the ultimate tool for organizing both your finances and your life. Each app has its strengths and weaknesses, making it crucial to choose one based on individual financial needs.
