Best Apps to Manage Your Finances in a Foreign Country

Managing your finances is tough, especially when you’re in a foreign country as a student. As international students living within the budget is difficult, the need to experience and try out new things in a new country is always there. Yet, all students have to find the right balance between managing all the expenses and living a financially fulfilled life. This is possible with the help of some apps which make life simpler and help you prioritize your spending. In this blog, we cover all the best money management apps that help you save like a pro!

Also Read: Difference between Credit Card and Debit Card

Mint

Mint is considered the most useful and the best money management app. The format of the app is easy to understand and can be used whenever and wherever you want in the world. There is a budgeting feature on the app which is amazing to use for planning a trip or to know how to save more for some other expense you want to make. The best thing about this feature is that you can break down your spending so that you know exactly where you are using the money, and it helps you to be on track. Here are the main features:

Features of Mint

• Email or text alerts for unusual account activity
• Bill and Low balances reminders
• Bank-level data security for account aggregation
• Easily customizable
• Easy financial reports. 
• Can create spending and income categories

XE 

XE App is next on our list of best apps to manage your finances in a foreign country. This is an excellent app that helps you make your home currency with 10 other preferred foreign currencies. You can save all the foreign units up to 10 and compare them anytime. This feature can help students who are living abroad manage their bills and it even includes a rate alert option to know exactly how much money you are spending by living abroad. Here are the main features:

Features of XE

1. Transfer money in 65 currencies to over 170 countries.
2. Monitor up to 10 currencies of your choice.
3. Historical charts for any currency pair in the world.
4. Customize your currency list to your priorities.
5. Set rate alerts and receive notifications.

Must Read: How to Manage Money While Studying Abroad?

Splittr

Next on our list of best money management apps for abroad is Splittr. This is a great buddy for managing budgets if you would be splitting meals and currencies between a restaurant or while on a road trip. Splittr can even break down everyone’s share in different currencies if you wish to split the bills and know everyone’s share. This helps in saving money and stops students from making unnecessary payments on road trips or while out with friends. Here are the main features:

Feature of Splittr

1. Beautiful, clean metro design
2. Support for tracking both group and individual expenses
3. Mobile-optimized bill entry to save you time
4. Split bills equally, by percentage, shares, dollar adjustments, or dollar amounts
5. Custom dashboard lets you easily figure out who you owe
6. Beautiful personalized pinned group tiles
7. Support for all Splitwise expense types, including recurring expenses
8. Ability to add users and create groups directly from the app
9. Built-in tip calculator
10. Email reminders

Prosper

If you are a student or working professional living abroad and hoping to understand the world of investing then Prosper is the best money management app. Prosper helps users to invest while traveling. One of the best things is that the Prosper app can be used on both iPhone and Android services. Prosper Invest will help to keep a track of your performance and check all your investments. Investors can even update their investment portfolio, transfer funds, and check returns. 

Features of Prosper

• Set up, review, and adjust target portfolio allocations using the Prosper Auto Invest tool.
• Add cash to a Prosper investment account in one-time, weekly or monthly increments.
• Monitor and manage portfolio performance
• View historical return information for the Prosper portfolio

Expensify

Another one of the best apps to manage your finances in a foreign country. This app is brilliant for travelers, international students, freelancers who are or are planning to commute to different countries. Expensify can help with travel, business expenses and keep track of all the transactions. Best of all, there’s a built-in program to scan receipts, taking a lot of the paperwork out of your busy student life.

Features of Expensify

• One-Click Receipt Scanning
• Credit Card Import
• Multi-Level Approval Workflows
• Corporate Card Reconciliation
• Accounting, HR, and Travel Integrations
• Multi-Level Coding
• Advanced Tax Tracking
• Audit and Compliance.

Personal Capital

Personal Capital is a great app for money management purposes. From tracking your budget to getting information about the investment accounts, you can easily manage all your transactions from one place. The app is very user-friendly and can easily be used on a desktop, laptop, tablet, or phone. Investment and receipts are easy to understand and read, along with managing your portfolio. 

Features of Personal Capital

• Robo-advisor platform 
• Free financial management tools

Also Read: Evidence of Financial Support

Empower 

Empower is another one of the best apps to manage your finances in a foreign country. Empower has the power to combine budgeting with savings. Empower helps you to connect to other financial accounts as well while tracking activities to give a major control and understanding of your cash flow. You can even set reminders weekly and monthly about your spending limits and the app will notify you on how well you are with your budget by keeping track. There is an AutoSave feature as well. 

Features of Empower

• Cash Advance of up to $250^
• Excellent design — it’s easy and intuitive to use.
• Recognizes bills and subscriptions.
• Categorization of spending categories.
• Automatically sets spending limits.
• Connects to cryptocurrency accounts.
• Transfer money within the app.
• Set up auto-savings within the app.

This was all about the best apps to manage money in a foreign country. Which app are you going to use to save money? Let us know in the comments down below. Make sure you follow Leverage Edu on Facebook, Instagram, and LinkedIn for more informative blogs!