Are you looking for a financial app that does pretty much everything well? Empower Finance is a mobile app that has a comprehensive set of personal finance features and is perfect for people who want only one app to manage their finances.It lives up to its name when it says that it empowers people to take control of their money.Here’s what you need to know about .
is a personal finance app that helps you take control of your money. Once you connect a checking account, you’ll be able to get a complete and accurate snapshot of your financial life and effortlessly cut unnecessary expenses, save for a rainy day and uncover additional savings.Some of Empower’s key features include:Once you’ve connected your data, you can categorize expenses, track your spending, and more. Empower will automatically set a budget for each category. Empower also recognizes recurring bills including subscriptions that you might not be using.However, other apps like Clarity Money are a bit easier to use.Within the app, you can also set up AutoSave to pay down debt faster or to set money aside in your high-yield savings account.
In a lot of ways,is a financial app that says, “Me too.” However, it differentiates itself from the pack by doing so much well. As you can see, Empower has many more pros than cons.Here are some Empower pros:Here are some Empower cons:
Empower also offers a checking account and a high yield savings account – however, you only get savings if you have a checking account. The rate is competitive, but it typically a bit lower than you’d find with the best high yield savings accounts.Empower offers an integrated interest checking account. This checking account connects with the app. You can control the debit card anywhere and anytime within the app plus get 24/7 notifications to track your spending. There’s also no account minimums, no overdraft fees, no insufficient funds fees and unlimited withdrawals.Combining Empower’s budgeting and goal setting features with their integrated bank account can make saving for future goals easy!Banking services for new accounts provided by nbkc bank, Member FDIC.
Empower is free for the first 30 days. After 30 days, Empower charges $6 per month for continued access to its full suite of money management tools.Empower isn’t designed to be a proactive budgeting tool. For that, You Need a Budget, EveryDollar, or Mvelopes make more sense. Even Mint.com would be a better tool.
is impressive in its design and how much it empowers users to take action within the app. In my opinion, its only rival on the design front is Clarity Money which offers as robust of design with better budgeting options.If you look at each feature that Empower offers (such as transferring money, paying down debt, tracking spending, etc.) you can find an app that does it better. I think the Rize app makes a lot of sense for transferring money between accounts for example, and Mint.com or Personal Capital offer better financial tracking.However, as a total package, Empower is a contender to be called the top new financial app.
If you’re not tracking your finances, you should download Empower and start using it today. It’s a great app — designed for ease, information and action.I’m impressed by the app, but not so impressed that I recommend switching from an app that’s working for you. If you have your finances under control, then you don’t need to check out Empower. But for everyone else, Empower could be the start of controlling your money for the first time.Check out .
* Disclosure: Banking services for new accounts provided by nbkc bank, Member FDIC. 0.25% Annual Percentage Yield (APY) may change at any time. APY as of Apr 23, 2020. Empower charges an auto-recurring subscription fee of $6 for access to the full suite of money management features offered on the platform after your first 30 days.