Creating and sticking to a budget is key to financial success, but it can also result in feelings of stress and anxiety for many Canadians.
Luckily there are budgeting apps available to simplify our ever-increasing complex financial lives. Budgeting apps show users an overview of their financial well-being by displaying the current status of multiple linked accounts on one screen.
The OG budgeting app was Mint.
Acquired by Intuit in 2009, Mint was retired last month with the Silicon Valley software giant urging users to migrate their accounts to Credit Karma—another Intuit-owned tool.
In Canada there is no shortage of alternative apps to bring ease and convenience to managing finances and developing budgets.
RBC has NOMI Budgets available through their mobile app. NOMI uses AI to proactively analyze a customer’s spending history, recommend an appropriate budget and send timely updates to help keep them on track in a seamless and convenient way.
And there are niche apps like Mydoh that targets parents to help teens make smart money choices and fuel their passions. Powered by RBCx Ventures, Mydoh already has 120,000+ Canadians using the app to have easier experiences, and enriched conversations, about money.
Thanks to open banking innovators like Flinks, fintech startups are jumping into the budgeting game to give the Big Five a run for their money.
One tool that recently launched as a Mint substitute in Canada is Wilbur, a free app that is also 100% ad and marketing free.
What differentiates Wilbur from other apps in the market is the opportunity to answer targeted surveys in-app to earn a little extra spending money.
Side hustles are everywhere and that is exactly what Wilbur is pitching users.
Founded by veterans of the market research industry, Wilbur offers users the opportunity, at no obligation, to earn between 50 cents to $12 for answering a marketing survey, simply by clicking a link from within the app.
Surveys are based on your actual purchasing habits, so marketers can get amazing consumer insights in the process.
Wilbur is a convenient way to monetize a spare 10 minutes of your day and once you hit a minimum $20 threshold, they’ll send you a prepaid credit card.
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