BANKING

Save Up for Big Purchases Accrue Savings

COST: $0

Throwing down a card for something you think you need ASAP—like a new guest room mattress before the in-laws visit—can seem like a good idea…until the bill comes. When you’re itching for a spendy item, Accrue holds you accountable. Choose your splurge from one of its partner brands (Casper, Smile Direct Club, fine jewelry companies, and more) and make a savings plan. Get cash rewards (like $120 of a mattress) as you hit your goals

WHY IT’S A WINNER: Accrue rewards you for being patient. “Linking the act of saving with its purpose—what you’re saving for—is a powerful motivator for those who struggle with debt,” says judge Kiersten Saunders (see page 59 for more info on our experts). “I’m also impressed with Accrue’s wide roster of retail partners.”

Score Impressive Debit Card Rewards

American Express Rewards Checking COST:

$0

AmEx is known for its credit card perks, including cash back on essentials, like groceries, and hotel and travel points. This online checking account gives you similar rewards for a debit card. Plus, points get pooled with those from your credit card, and you can earn 0.5 percent interest on your balance. That’s better than what most national banks ofer.

WHY IT’S A WINNER: You can grow your money and get better benefits while also streamlining your banking. “This is a no-brainer for existing AmEx customers,” says judge Grant Sabatier. “And it’s also attractive to new users looking for a higher-than-average return.”

Build “Set It and Forget It” Savings Digit

COST: $5 PER MONTH

You know those coin sorters that separate quarters, dimes, and pennies when you pour in a bag of change? Digit is like that for your paycheck. Every time money comes in, the app divides it into bills, savings, an investing account, and a spending account, keeping you from absentmindedly using cash you’ll need for, say, your student loan payment at the end of the month. And you can pay bills straight from your account.

WHY IT’S A WINNER: Once you set up your monthly payments and savings goals (anything from retirement to a new laptop), Digit does the math. Automating saving “lets people who traditionally struggle with budgeting feel like they have everything under control, while still allowing them to freely use the spend category guilt-free,” says judge Erin Skye Kelly.

Access Traditional Banking if You’ve Been Shut Out Majority

COST: $5 PER MONTH

Immigrants and refugees deserve safe banking, regardless of their citizenship status, and Majority ofers banking without requiring a Social Security Number. All you need is a government-issued ID (from any country) and proof of U.S. residence to set up an account virtually. The company provides financial advising in more than 10 languages. And along with a checking account and debit card, customers get no-fee money transfers and unlimited, discounted phone calls to more than 20 countries. “As an immigrant 20 years ago, I had trouble opening my first bank account. I remember how miserable I felt when the bank said they couldn’t help me. Good job, Majority,” says judge Tatiana Tsoir.

WHY IT’S A WINNER: By removing hurdles, Majority makes banking—and thus saving and the ability to build credit—accessible to a huge underserved population. “Majority fills a need that immigrants and refugees can immediately benefit from. I love this,” says judge Marsha Barnes

Share Expenses Simply WellPaid

COST: $0

WellPaid saves you from hassling roommates, friends, or family to chip in for expenses. Link your bank accounts on the app, and when someone pays a bill, WellPaid triggers everyone else to send either a portion (a quarter of the electric bill, for example) or a fixed amount (like $40 for Wi-Fi)

WHY IT’S A WINNER: WellPaid is great for roommates or partners who don’t want to mingle bank accounts, and for exes who share childcare expenses.

“Sending money back and forth on Venmo becomes clutter. Linking accounts without needing a joint account makes splitting simpler,” Tsoir says.

REAL SIMPLE STAFFER SAYS: “I live with my boyfriend, and we’ve been playing a constant game of tag on Venmo. After we linked our accounts with WellPaid, life got a little easier. No more tracking receipts, pulling up bank statements, and doing the math. Now the only trouble is deciding who pays the extra penny on rent.”

—Teddy Willson, assistant editor

Take the Guesswork out of Points and Rewards

Card Curator (Premium)

COST: $6 PER MONTH

Rather than accumulating points and then trying to figure out when and where to use them, work backward with Card Curator. Set a goal—tickets to Fiji, a twoweek tour of Tuscany—and the app steers you to the credit card to use for each purchase to maximize the points you’ll need.

WHY IT’S A WINNER: For people who’d love to save on travel but don’t have the time or patience to research and optimize, Card Curator is a valuable adviser. “I love that it automatically updates with the latest rewards—one less thing to have to monitor,” says judge Dawn Dahlby.

Cut Big Purchases into Smaller Payment Chunks

Chase My Chase Plan

COST: FIXED MONTHLY FEE (AMOUNT VARIES PER USER)

Your car breaks down. Your roof leaks. Your water heater dies. We all have moments when we’re hit with a big, unavoidable expense. Existing Chase credit card holders can use My Chase Plan to break down any purchase over $100 into installments, without accruing the interest you normally would after not paying a bill in full. In the app, click on the purchase and choose a payment plan ranging from 3 to 18 months. The purchase appears as a smaller amount on your monthly bill until it’s paid of.

WHY IT’S A WINNER: While experts warn that this is not a tool for splurging on a $400 pair of sneakers, it’s ideal for handling a big emergency expense. “This is a great solution for people who are on a tight budget or are temporarily financially challenged,” says judge Cathy Curtis.

Earn Cash for What You Need Citi Custom Cash Card

COST: $0

The idea is simple: Every month, Citi determines where you spent the most grocery stores, restaurants, live entertainment (hey, tickets to Harry Styles!)—and gives you five times the cash back in that category (up to $500). Next month, if your biggest expense category changes, the Citi card adjusts, so you reap the extra bang for those bucks without any efort.

WHY IT’S A WINNER: “Finally, a company that recognizes that monthly budgets aren’t carbon copies of each other,” says judge Julien Saunders. We like to think of it as getting a discount on something you were going to buy anyway.

Get Rewarded for Earth-Friendly Purchases

FutureCard Visa Card

COST: $0

This climate-conscious card isn’t only for your monthly train pass; you’re likely already buying a lot of reward-eligible items. Ever ride a rental bike instead of taking a car? Shop online for vintage clothes? Use a charging station for your electric car? Those and much more all qualify for 5 percent cash back. You can even earn cash back on your Thanksgiving Tofurky—plant-based meat is eligible!

WHY IT’S A WINNER: If you’re already an eco-conscious shopper, this card puts money in your (recycled denim) pocket. On top of that: It might encourage you to make better choices. “I love that it’s incentivizing habits that are good for the planet,” Sabatier says. And if you occasionally balk at the higher price of sustainable goods, “the cash back helps subsidize that,” says judge Stephanie McCullough

Relect Your Values with Your Stock Choices

Alinea

COST: $0

The best-performing funds usually include diverse stocks, but with a traditional mutual fund, you may be buying into some corporate values you don’t love. With Alinea, you can choose a group of stocks with a theme, like companies that are woman-owned or fight climate change, so you diversify your portfolio while investing in companies your beliefs align with

WHY IT’S A WINNER: You can make data-based decisions (the app graphs out a stock’s performance). You can also see what other people in your network are buying and share your picks too. “I’d love to invest in more companies aligned with my values, and this makes it easy,” says judge Vee Weir.

Try a Nontraditional Retirement Plan

Alto Solutions Inc.’s IRA Account

COST: $100 PER YEAR

For many of us, simply having an individual retirement account (IRA) and remembering to contribute to it is a win. But for people who want to do their own research, take some risks, and put retirement funds into long-term assets other than stocks and bonds, Alto is a good choice. It allows you to invest your IRA, traditional or Roth, in alternative areas, like real estate and art, which can be riskier but may yield higher dividends. Alto’s partners include venture capital and private equity funds that specialize in these areas

WHY IT’S A WINNER: “Being able to self-direct your retirement funds has been pretty unavailable for many years, since very few institutions ofer the option. I love it,” Tsoir says. It’s not for newbies, though. “Take your time to research the partner organizations,” McCullough says.

Learn How to Invest

Schwab Starter Kit COST: $0

This is the investing equivalent of bowling with gutter guards—a little extra help for those who are just getting the hang of things. Here’s how it works: Open a Schwab account with at least $50, and Schwab will automatically add $101 of the bank’s money and invest it in the top five stocks on the S&P 500 Schwab also ofers investment guides and how-to videos so you can learn how to DIY

WHY IT’S A WINNER: It’s fairly low-risk to invest in the top five stocks, and it’s a good learning opportunity. “Schwab is a reputable company to start investing with, and this is a great ofer with a realistic strategy for beginners,” Dahlby says.

Embrace Risk and Excitement SoFI IPO Investing

COST: $0

Individual investors are usually shut out of pre-IPO investing; it’s the big banks that get to fund start-ups before they’re publicly traded. SoFi IPO helps regular folks buy in early. Customers must have an investing account with SoFi, an online bank, but there’s no minimum balance to participate. In the app, you see what IPOs are coming up and submit an “indication of interest,” like a reservation for shares

WHY IT’S A WINNER: Getting in at the beginning of a newly public company can be a big score. This app makes it easy to bust into this investment arena. But it can also be volatile. “This is not the place to start investing,” Skye Kelly says. “But if t you have a moderate level of experience, it’s a fun way to buy some assets.”

Help Your Teen Grow Their Allowance Fidelity Youth Account

COST: $0

This is a full-fledged brokerage account opened by you and managed by your openedbyyouandmanagedbyyour 13-to-17-year-old, who can spend, save, invest in stocks, and of course, deposit birthday money. A no-fee ATM card comes with the account, and while parents can see the transactions, the teens are truly in charge. They can buy fractional shares of stocks, transfer money via Venmo or PayPal, and put cash aside in a cash-management account. The app includes a library of educational videos to help them learn about investing

WHY IT’S A WINNER: Giving teens agency over their account is a great way to spark interest in investing. We also love that the account can transfer to an adult brokerage account when your child turns 18. “If you have investment experience and a teenager with a job, this is the product you’ll want,” Skye Kelly says.

Drill Down on Saving for College Personal Capital Education Planner COST:

$0

College is extremely expensive and may seem far of. Should you start socking away money as soon as you have a baby? Prioritize retirement and count on student loans? This tool can put things in perspective. Existing Personal Capital customers plug in data to the Education tab—like the age of your child and what you’re saving for (college, private school, etc.). If your kid is already accepted to college or has a goal school, input the tuition amount. The Education calculator will take your other financial data into account, adjust for inflation, and show how much you need to be saving, plus how it will afect your retirement funds.

WHY IT’S A WINNER: You can add in unexpected financial changes (such as an inheritance or job loss) and see how those impact your timeline. And colorful graphics make scenarios easy to compare. “Knowing how college afects your other long-term financial goals is crucial This app goes a long way toward helping families understand the impact of this big expense,” Curtis says.

Teach Kids How to Spend and Save Wisely SpendandSaveWisely Till App/Debit Card Combo

COST: $0

At some point in your parenting life, you will start to feel like a human ATM. Till, designed for kids, helps them earn, save, and spend using a debit card, which parents can freeze instantly in the app. Older kids with jobs can set up direct deposit, and there’s an option for parents to “match” their kid’s savings.

WHY IT’S A WINNER: If your child has a phone, this is a fun, streamlined app to help them see how much they have to spend. “Today’s kids will likely only ever experience direct deposits and electronic banking, so this app nails spending and saving education for kids,” Skye Kelly says.