Three Applications to Consider When Managing Finances for Millennials

Before he became the president and owner of Windsor Securities and MFIP Inc., Steven Prusky acquired a bachelor’s degree with honors in computer science at Brown University. At present, Steven Prusky focuses his energy on his companies, which manage client assets using updated mathematical programs.

With the rise of credit cards, digital banking, and mobile shopping, many millennials now live in a so-called cashless society. While offering certain benefits, the move away from paper money nonetheless detaches millennials from their expenses and potentially leads to overspending. With this in mind, here are three digital applications millennials should consider to help them manage their finances:

1. Mint notifies the user how much they are spending daily. It also gives real-time access to pending payments and account balances. It brings together all of the finances of the user in one application with a friendly and easy-to-access interface.

2. Robin Hood requires its users to select their own investments, with its mission to democratize access to the financial markets. Furthermore, the application is expanding internationally, meaning users outside United States can now have access to the application.

3. Albert brings the idea of giving the best financial advice with simplicity and jargon-free instructions. It’s easy to take action directly from the application and it’s free. Moreover, it sends tips on financial improvement, credit card usage, and insurance policies.

Mr. Prusky is not recommending these or any other services. He does not offer expertise in giving financial advice, but is rather a discretionary money manager, who accepts clients' funds for a defined method of investing and allocates those funds as he sees fit within the confines of the Client Contract. The notes above are personal reflections and are not to be construed as advice.