Best apps to help students save money and manage their finances

There’s no better time to start building smart money habits than when you’re in college. 

“Doing so will equip you with a fluency you’ll carry throughout your adult life, long after you graduate,” said Iván Marchena, senior economist at Just2Trade, an online brokerage company.

Fortunately, many money-saving apps can help you spend less and save more. Since each app has its own purpose and benefits, it’s a good idea to explore all the options at your disposal.  

The right apps for you will depend on your financial goals and personal preferences. Below, we’ll look at the best money-saving apps for college students and how to get the most from them. 

How we chose the best money-saving apps 

There are countless money-saving apps on the market, but not all of them are ideal for college students. We focused on apps that are easy to use and free or affordable for college students with limited budgets.  

We also considered factors such as privacy and security, customer reviews, and useful features like no fees, automatic savings transfers, and cash back rewards.  

Best budgeting apps for students 

Budgeting apps can help you create a realistic budget while in college and stick to it. With the right app, it may be easier to live within your means and avoid overspending.  

Here’s a breakdown of the best budgeting apps for students: 

YNAB (You Need A Budget) 

YNAB can help you track your spending, pay off debt, and monitor your net worth. College students can qualify for a free 365-day trial. Plus, you can share a single subscription with partners, families, and other close-knit groups of up to six people.  

Rocket Money 

With Rocket Money, you can find and cancel unwanted subscriptions. The app also lets you create custom budgets and automate your savings.  

Monarch Money 

Monarch Money lets you build a budget, see your net worth, and visualize your money through custom reports. The Plus membership adds on retirement forecasting and investment analysis tools. 

PocketGuard 

With PocketGuard, you can create a budget with unlimited categories. Other noteworthy features include subscription tracking, goal setting, and financial insights.  

Cleo 

Cleo’s free plan offers basic budgeting tools. However, depending on the paid plan, additional features include credit support, high-yield savings, artificial intelligence (AI) coaching, and cash advances.  

Best savings apps for students 

Savings apps can simplify the way you save money in college. You can use them to meet various short- and long-term savings goals, such as building an emergency fund or saving for a car.  

This table outlines the best savings apps for students.  

Acorns 

Acorns offers three plans to accommodate different savings and investing goals. Each one includes an investment account with an expert-designed portfolio, spare-change Round-Ups, and an Acorns Later retirement account. 

Qapital 

With Qapital, you can create as many savings goals as you’d like and set up rules to automate savings. The higher-tier plans also come with a Visa debit card and pay-yourself-first tool. 

Oportun 

The Oportun app offers its Set & Save feature, which automatically transfers money from your bank account into your savings account based on your finances. You can also set savings goals with various due dates.  

Chime 

With the Chime app, you can take advantage of built-in saving tools and fee-free banking. You may also be able to receive your paycheck up to two days early.  

SoFi 

While the SoFi app is free to download and use, an optional SoFi Plus membership for $10 per month includes unlimited financial planning sessions and rate discounts on loan products. 

Best mobile banking apps for students 

If you’re a busy college student, a mobile banking app can help you keep tabs on your bank account, make deposits, initiate transfers, and more from virtually anywhere.  

Here are the best mobile banking apps for college students.  

SoFi 

The SoFi banking app prioritizes security through two-factor authentication. You can use it to deposit checks, send funds, and monitor your credit score.  

Ally Bank 

Ally Assist is Ally’s mobile banking tool that will answer questions you might have about your accounts. The app also offers savings buckets to help you stay organized and save for different financial goals.  

Capital One 

With the Capital One mobile app, you can check current balances, redeem credit card rewards, and keep tabs on your credit. The subscription manager tool can help you block or cancel subscriptions you don’t want or need.  

Discover 

The Discover mobile banking app includes Freeze It, which lets you stop new purchases if you lose your debit card. You can also use it to monitor and redeem your rewards. 

Chime 

Chime’s app lets you pay bills, transfer money to and from external bank accounts, and deposit checks. The SpotMe feature can help you avoid costly overdrafts.  

Best cash back apps for students 

Some apps let you earn cash back rewards for making everyday purchases, like groceries, for example. The rewards can help stretch a limited college budget.  

Below, you’ll find a breakdown of the best cash back apps for college students. 

Rakuten 

Rakuten lets you earn cash back online and in stores. You’ll get your rewards every three months via PayPal, Bilt Points, or check. If you’re an eligible American Express member, you may also choose Membership Rewards® points. 

Ibotta 

With Ibotta, you can collect cash back rewards whenever you shop through the app. Once you reach $20 or more, you can withdraw your cash earnings or choose a gift card instead. 

Fetch Rewards 

Once you earn points through Fetch Rewards, you can redeem them for gift cards. Fetch also lets you earn points by playing mobile games.  

Upside 

Formerly known as GetUpside, Upside offers cash-back rewards on gas, groceries, and dining purchases. The Pay with Upside feature offers another way to earn rewards. 

Best student discount apps 

Student discount apps give students access to special offers that can help you save money on clothing, restaurants, software subscriptions, and other purchases you make frequently. 

This table highlights the best student discount apps for college students.  

UNiDAYS

Specifically designed for students, UNiDAYS offers a long list of deals at retailers you likely already shop at. You can also participate in giveaways.

Student Beans

Student Beans lets you track your favorite brands and receive discount codes. You can also sign up for daily deal alerts.

ISIC (International Student Identity Card)

ISIC functions as both a virtual student ID and a global discount platform. The app gives verified students access to deals on travel, attractions, and everyday purchases across more than 130 countries.

Amazon Prime Student

Amazon Prime Student provides enrolled college students with a discounted Prime membership at half the standard price (after a six-month free trial). It includes fast, free shipping on textbooks and everyday items, streaming access, and exclusive student-only deals.

Best bill-splitting apps for students 

In college, it’s common to share living expenses with roommates and split bills when you go out with friends. Bill-splitting apps can help eliminate the guesswork. 

Here’s a breakdown of the best bill-splitting apps for college students.  

Splitwise 

Splitwise offers a free tier that allows you to split your expenses but limits how many you can add each day. If you upgrade to Splitwise Pro, you’ll get unlimited expenses, currency conversion, spending insights, and receipt scanning. 

Venmo 

Once you make a purchase, you can use Venmo to request payment from others. The app can send automatic charge requests. 

Cash App 

Cash App lets you spread out the cost of eligible payments in weekly installments. This gives you more flexibility when you pay back roommates or friends, but an upfront fee may apply. 

PayPal 

You can split costs with friends and roommates using the PayPal Bill Split feature. The app also lets you split bills on select websites.  

Best shopping and coupon apps for students 

If you’re always on the hunt for a good deal, shopping and coupon apps can help you find one. They let you monitor prices, compare options, and home in on the most affordable product or service for your needs. 

This table outlines the best shopping and coupon apps for college students.  

Honey 

Honey gives you access to promo codes, coupons, and deals. It can help you save when shopping at over 30,000 sites. 

Capital One Shopping 

Capital One Shopping scans thousands of retailers and automatically applies coupon codes when you check out. You can also earn reward points on certain purchases and redeem them for gift cards. 

Slickdeals 

Slickdeals allows users to share and vote on discounts they find online. It can help you find discounts you might not know about otherwise.  

Flipp 

The Flipp app is designed to help you save on groceries. Once you download the app, you can access weekly circulars and digital coupons. 

Best investing apps for students 

The sooner you start investing, the more time your investment returns have to compound and potentially grow your money. Investing apps can make it easier to get started. 

Here’s a look at the best investing apps for college students.  

Fidelity 

Even if you have limited funds to invest, Fidelity can help you get started, as there are no account minimums on standard brokerage accounts. You can also trade eligible securities online without paying commissions.   

Charles Schwab 

The Charles Schwab investing app includes account summaries, stock alerts, and investment income summaries. With the customized watchlist feature, you can follow the prices of securities over time. 

Acorns 

Acorns is designed to help you invest automatically with your spare change. You can choose from three paid plans.  

Public 

Public lets you manage your investments with some support from an AI agent. You’ll also get access to historical insights, earnings call summaries, and more. 

How to choose the right money-saving apps 

As you shop around and compare money-saving apps, keep these tips in mind. 

Match apps to your financial goals 

Think about what you hope to accomplish financially. Maybe you’d like to build an emergency fund. Or perhaps you want to find the best deals when you shop or get a jump start on investing. Once you figure out your financial goals, you can look for apps that are tailored to them. 

Focus on apps you’ll actually use 

If an app is complicated or expensive, there’s a good chance you’ll ignore it. That’s why it’s important to choose the money-saving apps you actually find useful. You can download a few apps and try them to determine which ones are a good fit. 

Compare free and paid features 

As a college student with a limited budget, you don’t want to overpay for a money-saving app. Some apps offer free trials or memberships, while others require a monthly subscription or reserve certain features for paid plans. It’s up to you to decide how much you can comfortably spend on apps and whether the potential benefits are worth it. 

Prioritize security and privacy 

Some money-saving apps require you to link your bank accounts or share other sensitive information. Before you do so, review the app’s security and privacy practices and look for protections such as multifactor authentication and fraud monitoring. 

Build a personalized money-saving toolkit 

To find the right combination of apps, consider your situation. If you’re a freshman living on campus, for example, you might benefit from a budgeting app, student discount app, and cash back app. However, if you’re a graduate student with a part-time job, a budgeting app paired with savings and investing apps might make more sense.  

Common mistakes students make when using money-saving apps 

To get the most from money-saving apps, avoid these common mistakes.  

Downloading too many apps 

It might be tempting to download every app that seems useful. However, you’re unlikely to use all of them. Instead, focus on a few apps that you know you’ll use on a regular basis.  

Paying for features you don’t need 

Some apps encourage you to upgrade to a paid plan or pay for additional features. Before you upgrade, make sure the benefits justify the cost. Otherwise, the app could work against the financial goals you’re trying to reach. 

Forgetting to activate cash back offers 

Some cash back offers require activation before you shop. If you choose a cash back app, make it a habit to check for offers that require activation so you don’t miss out. 

Not automating savings 

By automating a percentage of your paycheck to your savings account every month, you can build your balance over time without a lot of effort. You’ll also be less tempted to spend the money before you have the chance to save it. 

Ignoring budgeting insights 

Budgeting apps can give you a better idea of whether you’re on track with your spending and what you can do to improve it. Using this information can help you avoid overspending and meet your goals.  

Which money-saving apps are right for you? 

With so many money-saving apps available, choosing the right ones can be difficult. The table below offers recommendations based on different goals.

Build better financial habits with the right apps 

Ideally, you’d begin with two apps that solve your biggest financial challenges while in college. For example, you may want to combine budgeting, savings, and banking apps. Once you decide on the right apps, review them every few months because your needs will likely change throughout college. Don’t be afraid to stop using certain apps or download new ones as your priorities shift.  

Frequently asked questions

What is the best money-saving app for students? 

The best money-saving app for students depends on each student’s financial goals and priorities. Rocket Money, Ibotta, Venmo, and Honey are examples of money-saving apps that could benefit college students.  

Are money-saving apps free to use? 

Some money-saving apps are free to use, while others require a paid subscription or offer paid features. There are many free and affordable options for college students.  

Which apps help students save money automatically? 

Acorns, Qapital, Oportun, Chime, and SoFi are some examples of apps that let college students automate their savings.  

Which budgeting app is best for college students? 

The best budgeting app for college students depends on each student’s financial goals. YNAB, Rocket Money, Monarch Money, PocketGuard, and Cleo are options to explore.  

Can I use multiple money-saving apps at the same time? 

Yes, you can use multiple money-saving apps at once. However, using too many could be overwhelming, so it’s usually best to focus on a few at a time.