Help:
I’m sinking into debt with no end in sight. I spend more money than I make. Home needs repairs, increasing NSF, late, over-limit fees, car repairs, etc. I can’t retire, I’m getting close to losing my home. I need an app to automate my bills, know where my money is going, create a budget, start an emergency fund, and save for retirement and home repairs. Which app is best? YNAB, Empower, Rocket Money, Quicken, Monarch, etc.? I want to be hands off.
There is no way to be hands-off with your finances unless you’re making a lot of money. Start by figuring out your monthly income and expenses. If you’re spending more than you make, you need to cut back on expenditures before automating anything.
The hands-off approach hasn’t worked for you so far. Make a household budget and set limits for groceries. Cancel anything you can until your income is larger than your expenses. Then you can make a debt payoff plan.
Are you willing to change your habits? No automation will help if you don’t confront your income and expenses. Pull your bank statements and analyze where your money is going. Prioritize must-pay bills and make a budget for everything else. I recommend YNAB for its community and resources.
I understand that it feels overwhelming. Habit Money has been great for me; it tracks spending, creates budgets, and sends reminders to keep me in control without a huge time investment.
I recommend YNAB. If you’re facing losing your house, now is the time to dive in, not go hands-off. YNAB teaches you how to manage money effectively.
Most serious budgeting apps will cover your needs, but they won’t fix your problems. Your issues likely stem from bad financial habits. You need to take control and be more hands-on with your finances.
Not sure about apps, but there are spreadsheets that might fit your needs. They can be set up to be largely hands-off until you need to update something.