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Personal finances have become easier to manage with all the technological advances available at our fingertips.

With all the budgeting apps and investment apps and tools available on our iPhone and Android smartphones, one can say that personal finances are now even more “personal” than ever before.

In this post, I highlight some of the free money management apps I use and a few paid ones that come highly recommended.

Best Budgeting, Money Management, and Personal Finance Apps and Tools

Here’s a quick summary of the financial apps you should have on your smartphone:

Best Personal Finance Apps, Tools and Websites To Save Money in Canada

Free Budget App for iPhone and Android

This budget app has a totally free version that you can access using the web or download from the Apple Store and Google Play.

1. Mint

Available in multiple countries including Canada. 

This budget app aggregates all your financial accounts in one place and simplifies the budgeting process. I have been using Mint for over 6 years and like that it:

  • Gives you an overview of all your bank and investment accounts on one dashboard
  • Categorizes and tracks bills and transactions
  • Helps you set a budget
  • Sends email alerts for upcoming bills so you never miss a payment
  • Suggest ways to save money
  • Uses 128-bit SSL encryption to protect your account similar to what the banks use
  • Provides users in the U.S. with a free credit score

Join Mint here.

Best Money Management Apps in Canada

The best money management apps make it easy to take control of how your money is invested. You also save a ton in fees with zero commission trades and low-cost ETF portfolios.

2. Wealthsimple

Available in Canada and the U.S.

Wealthsimple is a top-notch online investment services firm aka robo-advisor. They offer everyday investors access to globally diversified and customized investment portfolios at a lower cost compared to traditional mutual funds.

Wealthsimple is highly rated on the Apple Store and Google Play and offers additional benefits including:

  • Automatic deposits
  • High-interest savings account
  • Automatic portfolio rebalancing
  • Dividend re-investing
  • State-of-the-art security
  • Spare-change investing capability (Roundup)

Want to trade individual stocks and ETFs? Wealthsimple has got you covered with its commission-free Wealthsimple Trade App. Read my Wealthsimple review.

Join Wealthsimple and get a $50 cash bonus!

3. Questrade

Available in Canada.

Questrade is the discount broker of choice for self-directed investors in Canada. Their mobile app is highly intuitive and some of the benefits for investing with Questrade are:

  • No annual fees in RRSP and TFSA accounts
  • Free ETF purchases
  • 1 cent per share when you purchase stocks (a minimum of $4.95 to a maximum of $9.95 applies per transaction)
  • Easily buy mutual funds, bonds, GICs, stocks, options, and alternative assets

If you prefer to go the automated investing route, Questrade also offers a robo-advisor platform, Questwealth.

Join Questrade here and get $50 in free trades after funding your account.

Best Money Saving Apps in Canada

These grocery and shopping apps give you cash back when you make everyday purchases in-store or online.

Even better, they are all free and available on iOS and Android.

4. Checkout 51

Available in Canada and the United States.

Checkout 51 is my go-to cash back app when I shop for groceries. Every week, the app provides offers and discounts on grocery and household items, with some discounts as high as 35%.

Simply accept an offer and upload your receipt via the app to claim your cash back. You can redeem your earnings via a cheque in the mail when it reaches $20 or more.

Read my complete Checkout 51 review.

Join Checkout 51 here and receive a $5 bonus after redeeming your first offer.

5. Drop

Available in Canada and the United States.

I love “automatic” and that’s one area where the Drop app shines. Drop gives you points when you shop using the credit or debit card linked to your account.

There’s no need to update your purchase receipts and the points earned can be redeemed for hundreds of popular gift cards like Amazon, Starbucks, Lululemon, Uber and several others.

As of this writing, Drop has paid out over $20 million in rewards. Check out my Drop review for more details.

Join Drop here and get a $5 bonus after linking your first card.

6. Rakuten

Formerly known as Ebates, Rakuten is the most popular cash back app/website in Canada and the United States. 

With over 2,500 brands and retailers on the platform, earning cash back with Rakuten is very easy.

To ensure I remember to activate available offers when I shop online, I have installed their Chrome Brower Extension so it pops up when I’m about to make a purchase. I also use their mobile app.

You can choose to cash out your earnings using PayPal or a cheque in the mail.

Join Rakuten here.

When you sign up using the links above, you receive a $5 to $10 bonus after completing your first online purchase of $25 or more. Read my full Rakuten review.

7. Caddle

Caddle is another Canadian grocery cash back app.

In addition to cash back offers, Caddle also pays you to take short surveys and watch video ads.

Similar to Checkout 51, they send out new offers every week. 

Get Caddle here and enter the promo code ENOCH48192 to get a $1 bonus.

8. Paymi App

Paymi is a Canadian cash back app similar to Drop and offering cash back as high as 10%. To earn with Paymi, sign up here, link your debit or credit card, and shop as usual at their partner stores.

Popular retailers affiliated with the app include BurgerKing, Lowe’s, SportChek, Starbucks, Sobey’s, Netflix, Sephora, and others.

Spare change apps

Best Spare Change Investing App

Small sums of money contributed on a regular basis and invested over time can significantly impact your retirement savings in a good way.

9. Mylo

Available in Canada.

If you find it challenging to set aside a specific sum of money every month for investing, Mylo has got you covered.

The Mylo app automatically rounds up your purchases and invests the difference. You choose how much to invest (i.e. whether to roundup to the nearest $1, $5 or $10) and the app takes care of the rest.

To use Mylo, simply sign up and download the app ($5 bonus), link your bank account, and watch your investments grow.

Mylo costs $3 per month and you can invest in a non-registered or registered account (i.e. TFSA or RRSP), earn cash back, and enjoy other perks.

Join Mylo here and get a $5 bonus.

Best Personal Finance Apps and Tools

From free credit scores and credit monitoring apps to an app that rewards you for paying your bills, these apps are a must-have!

10. Borrowell

Available in Canada and has over 1 million users.

Borrowell offers free monthly credit score updates and credit reports to its users. The credit score they provide is the Equifax score.

I use the monthly updates to monitor my credit file for identity theft or fraud. Read Borrowell review.

Get Your Free Credit Score – takes less than 3 minutes.

11. Willful (Create a Legal Will Under $100)

Willful is Canada’s premier provider of legal online wills. 

The process takes about 20 minutes and saves you up to $850 compared to visiting a lawyer. Willful is available in 7 provinces including Ontario, Alberta, Manitoba, Saskatchewan, Nova Scotia, New Brunswick and British Columbia.

Get your will online today and save an extra $20 when you enter the promo code SAVVY20!

Read my complete Willful review.

12. High-Interest Savings Account

EQ Bank offers one of the best high-interest savings accounts in Canada and its app is also highly rated.

Given the super-low rates that the big banks are paying (as low as 0.05%) when you save, EQ Bank’s non-promotional 2.00% savings rate is a breath of fresh air.

Get Started with a 2.00% Savings Rate.

Read our EQ Bank Savings Plus review.

13. No-Fee Chequing and Banking

Tangerine is Canada’s most popular online bank. 

They offer high-interest savings, no-fee chequing, index investing, and no-fee cash back cards. Tangerine provides easy access to over 3,500 ATMs in Canada and 24/7 phone support. 

I have been onboard the Tangerine train for several years and my experience has been positive. 

Check out this Tangerine review.

14. PolicyMe

Available in Canada.

Life insurance can be expensive and this is why some people don’t consider buying it. 

That being said, life insurance is very important, particularly when you have family members who are dependent on you.

Use PolicyMe to easily compare the lowest life insurance premiums available in Canada and based on your specific needs. The online process takes only a few minutes.

Visit PolicyMe for the lowest Life Insurance Quotes.

Another online platform that makes checking life insurance quotes very easy is PolicyAdvisor. Read my PolicyAdvisor.com review for more details.

15. Paytm Canada App

Want to be rewarded for paying your monthly bills? Try Paytm.

Property taxes, rent, phone bills, cable, water, hydro, car insurance, and even your credit card balance….you can pay with Paytm and earn points.

You can redeem your Paytm points for popular gift cards like Tim Hortons, Esso/Mobil, Instacart, Uber, Starbucks, Cineplex and more.

Sign up for Paytm here.

Use promo code PTM2477287 and receive a $5 bonus after paying your first bill of $50 or more. You can also read this Paytm review.

16. Credit Karma

Available in Canada and the United States.

Credit Karma is another free online resource for monthly credit scores and reports. The credit score is from TransUnion and may be slightly different from your Equifax score which is why I use both Borrowell and Credit Karma so I can compare.

Credit Karma is available on iOS.

Read my Credit Karma review.

17. Best Cash Back Cards

The best cash back credit cards can return hundreds to thousands of dollars to your wallet every year.

My favourite no-fee cash back card is the Tangerine Money-Back Credit Card

Here are some resources on the best credit cards worth checking out in Canada:

personal finance apps canadians

Best Mortgage Rates

A competitive mortgage rate can save you thousands of dollars over the life of your mortgage loan. 

Online comparison sites show you all available rates including those that beat what’s offered by your bank.

18. Intellimortgage

Intellimortgage is an online mortgage broker that allows you to compare rates across multiple lenders.

I like their rate guarantee which states that if you find a lower rate elsewhere, they will beat it or pay you $500 in cash after your mortgage is finalized.

Check out Intellimortgage.

Read my complete Intellimortgage review.

19. Ratehub

Ratehub is another mortgage rate comparison site that makes it easy to compare the best mortgage rates available in your area.

Check out my Ratehub review.

Best Cash Back App for Cash Spending

It’s one thing to earn cash back when you make your purchase with a credit card, but if you are spending cash, it’s another thing altogether.

20. KOHO Prepaid Visa

Available in Canada.

KOHO is a free reloadable prepaid Visa Card and app that rewards you for spending cash.

Earn 0.50% cash back on all your purchases with the basic KOHO package or 2% or more cash back with KOHO Premium. In addition to cash back, the KOHO app offers free budgeting capabilities.

KOHO also rewards you when you refer friends with up to 12% in cash back.

Join KOHO here and enter the promo code CASHBACK to get a free 1% cash back bonus for 90 days.

Best Tools for Tracking Your Net Worth

These financial resources show all your money in one place and make it easy to see your updated net worth on your smartphone.

21. Wealthica

Wealthica is Canada’s answer to Personal Capital in the United States.

It is a net worth tracking tool that connects to more than 60 Canadian financial institutions and investment platforms. Data from your account is synced daily and signing up is free.

Wealthica currently tracks over $4 billion in assets.

Sign up for a free Wealthica account.

22. Personal Capital

Available in the United States. If you are a Canadian living in the U.S., this tool is one of the best for tracking your finances.

Personal Capital is the ultimate net worth tracking tool and is available on iOS and Android.

The app offers the following:

  • Link all your accounts for free – IRA’s, 401k’s, mortgages, loans, checking and savings
  • Analyze your investments and find avoidable hidden fees
  • Set saving goals
  • Net worth calculator
  • Retirement planning

Personal Capital has over 2 million users.

Are there any other free personal finance apps and resources you have found to be useful? Leave them in the comments.

Check out this collection of the best personal finance apps and tools to improve your finances, save money, budget, pay off debt and make money this year. #personalfinance #savemoney #budget #finances #money

21 Best Personal Finance Apps and Websites To Save Money in Canada