Millennials love these free financial tools that make managing money a breeze.
Managing money isn’t always a thrill, but millennials have found clever ways to make it easier—and often free. With the digital age offering more than just funny memes and binge-worthy shows, financial apps and tools are stepping up to help this generation tackle everything from budgeting to investing.
These tools are not only effective but also free. If you’re tired of feeling like your money is slipping through your fingers, check out these 11 game-changers that millennials swear by to boost their financial confidence without spending a dime.
1. Mint keeps your budget on track with zero effort.
Mint is the go-to app for millennials who want a bird’s-eye view of their finances without wrestling with spreadsheets, according to Intuit. This app automatically tracks your income, expenses, and even investments, presenting everything in easy-to-digest charts and categories. With customizable budgets and bill reminders, Mint helps you stay ahead of your finances instead of playing catch-up at the end of the month.
Beyond budgeting, Mint offers insights into your spending habits. It sends gentle (and sometimes not-so-gentle) reminders when you’re overspending in specific categories. It’s like having a personal financial assistant that doesn’t ask for a paycheck.
2. Personal Capital makes investing and retirement planning a breeze.
Personal Capital combines budgeting tools with robust investment tracking, which is why so many millennials can’t get enough of it, according to Financial Mentor. You can link your bank accounts, credit cards, and investments, allowing you to see your entire financial life in one place. Unlike some apps that only focus on expenses, Personal Capital helps you analyze your portfolio and offers retirement planning tools.
Its investment checkup tool evaluates your assets and offers suggestions to improve your strategy. Users love that it goes beyond simple budgeting and dives into wealth management—without a fee. Whether you’re just dipping your toes into investing or keeping a close eye on your 401(k), Personal Capital delivers valuable insights without draining your bank account.
3. YNAB (You Need A Budget) helps you take control of every dollar.
While YNAB isn’t entirely free, it offers a 34-day free trial that’s worth every second. Millennials appreciate its hands-on approach to budgeting. Unlike traditional apps that just track expenses, YNAB encourages proactive budgeting by giving every dollar a job, according to Allegra Stein. This method helps users build emergency funds, pay down debt, and avoid living paycheck to paycheck.
The app’s educational resources, including webinars and tutorials, are a bonus. They’re perfect for those who might feel overwhelmed by budgeting but want to make a positive change. Even if you decide not to continue after the trial, the principles you learn can transform how you handle money moving forward.
4. Credit Karma keeps an eye on your credit score.
Credit scores can feel like a mystery, but Credit Karma demystifies the process by offering free credit score monitoring and personalized insights. Millennials appreciate that they can check their scores without impacting them—a rare feature in the financial world.
Beyond the scores, Credit Karma offers tailored recommendations for credit cards and loans based on your profile. It even shows how financial decisions, like paying off debt or opening new accounts, could affect your score.
5. Robinhood lets you invest in stocks without paying commissions.
For millennials who want to dip their toes into the stock market, Robinhood is a game-changer. The app allows users to trade stocks, ETFs, and even cryptocurrencies without paying commission fees. Unlike traditional brokerage accounts, Robinhood removes many barriers, making investing accessible for beginners.
The app’s sleek interface and easy-to-use features make buying and selling stocks feel more like a game (without the risk of actual gambling). Young adults new to investing love that they can start investing with as little as $1 and that the app offers fractional shares, so you don’t need a big bank account to own a piece of your favorite company.
6. Splitwise keeps your group expenses organized and fair.
Splitting bills with friends or roommates can get awkward, but Splitwise simplifies the process. The app allows you to track shared expenses, such as rent, utilities, or dinner bills, and helps keep everyone accountable. You can see who owes what and settle up via PayPal or Venmo directly through the app.
Millennials love that it eliminates those “I’ll get you next time” situations that often lead to unpaid debts and strained relationships. It’s perfect for managing group trips, shared housing expenses, or even recurring costs with a partner.
7. Acorns helps you invest spare change effortlessly.
Acorns rounds up your everyday purchases to the nearest dollar and invests the difference. It’s like a digital piggy bank with an investment twist. You will inevitably appreciate how easy it is to set up and let their spare change work for them in the stock market.
The app offers portfolios tailored to different risk levels, allowing beginners to start investing without needing to know much about finance. While it does charge a small monthly fee after the trial, many find that the ease of passive investing is worth it.
8. Honey finds deals and saves you money while shopping online.
Honey is a browser extension that automatically applies the best coupon codes at checkout. The extension also shows price histories, helping users decide if they’re getting a good deal or if they should wait for a sale.
Honey’s reward program, Honey Gold, offers points that can be redeemed for gift cards, adding another layer of savings. It’s a simple way to keep more cash in your pocket without changing your shopping habits.
9. Truebill cancels subscriptions you forgot about.
Subscription services are great until you realize you’re paying for things you don’t use. Truebill identifies all your subscriptions and makes it easy to cancel the ones that no longer serve you.
The app also helps negotiate bills and manage budgets, but its subscription tracking alone is a standout feature. With Truebill, you’re not just saving money—you’re gaining control over your expenses.
10. Goodbudget brings the envelope system to your phone.
Goodbudget is a digital twist on the old-school envelope budgeting system. It lets you allocate “envelopes” of money for different spending categories, such as groceries, rent, or entertainment. Millennials who appreciate visual budgeting love how it helps them avoid overspending.
The app is great for those who want to see exactly where their money is going and practice mindful spending. It’s not automated like some of the flashier apps, but the manual entry process encourages users to stay engaged with their finances.
11. PocketGuard stops you from overspending with real-time insights.
PocketGuard does what its name suggests—it guards your pocket from unnecessary spending. The app links to your financial accounts and calculates how much disposable income you have after bills, necessities, and savings goals.
It offers spending insights, helping you identify which areas of your budget might need trimming. If you’ve ever wondered, “Can I afford this?” while standing in a checkout line, PocketGuard has your back with real-time updates.