Making money is hard, but spending it is quite the opposite. One of the requirements for success in life is learning how to manage your finance and thus controlling your spending habits.
Technology today is in an advanced stage; we have things easier now than in the days of old. For everything we need to do, there is an application or software to assist us. And in this article, we will be seeing some of the best budgeting apps like Cleo that can be of great help in our quest to finding financial freedom.
But first, let’s see what Cleo is.
What is Cleo?
Cleo is an Artificial Intelligent financial planning chatbot that is designed to handle all your finances, plan a good budget, and help you avoid banking overdraft. Since it was launched in 2016, it has quickly risen high to the ranks of the most sort-after financial planning applications.
Cleo works by linking its digital assistant to your bank account and afterwards, track and manage your spending, make budgets, and give recommendations on your savings.
To add a little bit of fun to your financial planning, Cleo can also play games with you and participate in human-like conversations. It is used by over 3 million users on both the Android and iOS platforms.
Although Cleo is almost flawless when it comes to handling your finances, we will cover 7 best apps like Cleo, what they have to offer, and why you should consider using them as your financial planner.
Best 7 Apps Like Cleo Financial Planning Chatbot
In no particular order, we present to you some of the best alternatives to Cleo financial chatbot…
1. Empower: Budget & Savings app
Starting off our list of apps like Cleo, is Empower Finance. It’s an all-in-one financial planning assistant that can easily keep track of your credit usage, find budget savings, stop unused services linked to your bank account, and track your economic activities.
Empower was launched in mid-2017 with the sole purpose of helping its users control their finances directly from their home screen. It has received accolades from well-respected organizations such as Apple Inc., Time Magazine, and Forbes, all tagging Empower as the “Best Tech Apps To Help You Save, Invest, And Manage Your Finances.”
Features of Empower
Financial Chart: After signing up and linking Empower to your bank account, its first task is to give you a graphical representation of your financial life. It displays your account balance in all your bank accounts, your retirement, loan, and credit account types. An Empower account can be linked to over 10 thousand U.S banks, loan investments, and credit cards.
Spending Tracker: To be in total control of your financial life, first you have to understand how your money is being spent and all the sources it is being spent on. Empower helps you track all your spending and also regulates how you spend by making a budget.
Automated Savings Deposit: Empower can automatically move money from your checking account to your savings account. Other financial apps like Cleo might require you to open another account for this, but it can be done in one Empower account.
Other Empower Features Includes:
- Empower Credit Tracker
- Empower Assistant Tool
- Empower Security
2. YNAB (You Need A Budget)
YNAB is one of the best apps like Cleo. It integrates the latest financial technologies to your bank account to give you one of the best financial planning services available. It gives you real-time updates of your economic activities and account balance across your bank accounts. It algorithm helps you create budgets, analyze your spending and saving habit, and gives recommendations to have a better financial life.
Core Features of YNAB
Age of Money: This is a feature that suggests that the longer your money stays in your account before being spent, the better it is for your financial life. This feature shows you how long a certain amount of money has stayed in your bank account and recommends that you only spend those that have stayed for more than 30 days.
Direct Transaction Import: It automatically imports your banking transactions directly from your bank with just one click. It sends you all transactions that have been cleared by your bank.
Financial Goals: You can set up goals that you want to achieve in a certain period, and it automatically helps you reach those goals by creating a budget, and giving recommendations.
3. Qapital Finance: Budget & Save
Launched in mid-2015, Qapital quickly spread across the 50 states in the United States of America. You can effortlessly save money with Qapital, it allocates small purchases to your Qapital account, thus enabling you to save for major purchases, paying debts, and vacation plans. It is an excellent Cleo alternative.
Features of Qapital Finance
Qapital Account: It gives you a savings account that will be linked to your checking bank account.
Account Protection: Your money is 100% safe, Qapital account is linked to Wells Fargo, which is maintained by FDIC Insurance.
Qapital Spending Digital Wallet: You will be given a Visa debit card that you can integrate into your digital wallets to make payments easy, fast, and secure.
Spending Sweet Spot: This helps you to create a weekly spending budget and gives you an insight of how you spend.
Payday Divvy: It helps you set aside money when your payday arrives. This money can be channeled into your goals or other essential expenses.
Nerdwallet combines your income, spending, and credit score into one metric to keep your head above the financial waters. It helps you make better financial decisions by comparing services (from banks, financial institutions, and insurance companies), and recommending the most suitable.
Features of Nerd Wallet
Credit Card Review: Using a horrible credit card can frustrate your financial life. Nerd wallet uses the top credit cards in the United States and gives an honest review of the best ones. Nerd Wallet focuses on the types of cards, cashback, best rewards, and travel cards.
Bank Review: It gives you the best credit and checking accounts to use. It categorizes these banks based on;
- Big Banks
- Online and Mobile Banks
- Credit Unions
- Brick and Mortar Banks
Investment Guide: There are lots of available investment options (both legit and scam), Nerd Wallet recommends the best investments to put your money into by looking into the basics of financial management and investing (best brokers, best IRA providers, tax software and online brokers).
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5. Clarity Money – Budget Manager
Next on the list of best apps like Cleo is Clarity money. This app links your checking and credit account into a single account so you can easily manage, track, and regulate your finances from a single click.
If you want a financial planner that can independently handle your bills, credit and checking accounts, then Clarity Money is your best bet. It uses high-grade financial planning technologies to help offer significant saving opportunities by streamlining your finances.
Clarity Money Main Features
Graphical Spending: It shows you a graphical representation of your spending pattern, giving you a better insight into how your money is being spent and how to avoid overspending.
Automatic Negotiation: It helps you negotiate with your service providers to reduce the cost of your spending.
6. Dave – Banking For Humans
Bank overdrafts fees can be annoying; thankfully, you can avoid paying overdrafts if you use Dave financial planner. It alerts you whenever your account balance is getting low, and it also gives financial support that can be repaid during your next payday.
Feature of Dave – Banking For Humans
Low Balance Alerts: When your account balance is low, and you have an upcoming bill to pay, Dave sends you a notification about this issue and also gives you an option to ask for a cash advance to pay your bills and avoid an overdraft.
No interest: When given a cash advance to sort your bills, you do not have to pay with an added interest when repaying. Dave offers a 0% interest on all cash advance given to its users.
Low withdrawal limit: Depending on how much cash advance is given to you, your repayment date starts from the next Friday from the day you received the advance or on your next payday. The maximum amount every user is eligible to receive as a cash advance is $100.
7. Mint: Personal Finance & Money
Mint is a web-based simple financial planning service with advanced functionalities. It has an easy to use web interface that helps you understand your finances without stressing. With more than 15 million users, it is one of the most trusted free financial services available.
You get updated information on all your bank accounts whenever you log in to your account. It covers both basic and advanced tasks such as tracking spending, creating goals, making budgets, accumulating your financial information in one place—a great Cleo alternative.
Features of Mint Financial Planner
Tracking and Budgeting Expenses: It helps you keep a close eye on your expenses, notify you whenever you are overspending and also create budgets to regulate your spending patterns.
Creating and Managing Goals: Meeting up to your financial goals is a beautiful feeling. Mint helps you create goals, enables you to track your progress, and guides you on how to achieve those goals.
Credit Score Tracker: Keep your head above a bad credit score. Several banks, loan agencies, and financial institutions use your credit score as a requirement, so it is good to have a great credit score. Mint helps you keep track of your credit score, credit account age, view payment history, and many more features.
9. Money Manager
Apps Like Cleo – Conclusions
In a bid to improve your financial life, and in your search for the best apps like Cleo, you stumbled upon this article. So having fully read it, we hope you were able to pick an app or two out of the 10 Cleo alternatives listed above. And if you found this helpful, you should help us grow by sharing this article with your friends and families across all social networks.
Last Updated on September 5, 2020 by Richard Nwanekezie