PocketGuard is a personal finance took that helps users track their spending, budget for expenses, and save money. While the app may not bring in a ton of cash, it will help you build better and smarter finance decisions. Keep reading for more on PockGuard and its services.
(Visit PocketGuard to learn more)
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Before you can utilize PocketGuard’s services, you need to start by connecting your checking, credit and savings account. Linking your accounts will help the PocketGuard app track your spendings and also remind you when bills are due. The more accounts that you connect yo pocketGuard, the more efficient it will be in helping you budget.
When you link your accounts to the app, PocketGuard will automatically sync and categorize transactions into “pockets,” depending on merchants. Although this process is typically accurate, we recommend going in and manually double-checking whether or not the transactions have been auto-categorized correctly.
PocketGuard helps you save by setting spending limits on your “pockets.” If you overspent in a category, you’ll get a notification and the line under the spending limit will turn bright orange. The app will also display the amount you went over.
There is a special “pocket” for saving goals. Here, you can plan and save a specific amount each month. The goal will automatically start over every month with the same amount, but you’re welcome to change it at any time.
Spending Pie Chart
The spending pie chart is a great way to quickly check your spendings. It shows all you’ve spent over the current month, divided into categories, so you can easily see where your money is going.
To track specific kinds of expenses or assets, you can add hashtags. For example, you can link together all transactions from a particular trip – transportation, accommodation, restaurants, entertainment and etc. – by adding a hashtag with the name of the destination.
PocketGuard has partnered with various financial services that can help lower your bills, pay off your loans, improve your credit score, get shopping rebates and more. In order for this to work, you’ll need to answer a few questions about yourself in the Profile section, then the app will generate offers that are tailored to you.
In My Pocket
This feature shows how much money is left for everyday spending, after accounting for bills and subscriptions. It’s calculated using this formula:
Income – Bills – Savings Goal – Ongoing Spending = In My Pocket
In other words, In My Pocket prioritizes your funds for necessary expenses and savings, then gives you free access to what’s left over.
You should check your “In My Pocket” daily, or at least before you shop. Doing this will save you from impulse buys that add up to overspending.
PocketGuard Basic is free to use, but it has limitations. There is PocketGuard Plus which include’s the app’s full list of services. PocketGuard Plus has a monthly subscription of $3.99 or an annual subscription of $34.99. With the higher tier plan, you’ll get to:
- Track cash that you spend and receive
- Plan for cash bills
- Know how much cash is in your pocket
- Record ATM withdrawals
- Add custom pockets
|#Hashtags notes in transactions||x||x|
|Add your own categories||–||x|
You can utilize PocketGuard’s services for free when you invite friends, you can earn points when they start to use the app:
- 10 points for each of the first 3 friends you successfully refer
- 5 points each time a friend you referred purchases PocketGuard Plus for the first time
Your friends will also benefit from the referral program. Each will get 10 points just for getting started.
For every 30 points, you’ll get one month of PocketGuard Plus for free. In other words, 30 points has a value of $3.99.
PocketGuard analyzes your financial situation to help you decide if you can spend your mone. The app includes features like pie-charts and spending limits so that you can easily stay on top of your spending. If you’re looking to upgrade the process, there is also PocketGuard Plus.
(Visit PocketGuard to learn more)
An alternative to PocketGuard is Ellevest, which is a robo-advisor that creates and manages personalized investment portfolios. Interested in more Brokerage Promotions like this? Check them out here on HMB!
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