Build Wealth With Your Phone: The Best Money Apps To Download Now
Money Technology

Build Wealth with Your Phone: The Best Money Apps to Download Now

Smiling father reading good news on an app on his phone
(Image: iStock / PixelCatchers)

Wealth building can be simple and easy, especially when it’s at your fingertips.

Grow your personal finance muscle with these Black-owned apps and tools designed for Black families. From financial education and investing to online banking, these digital platforms are available on Google Play and the App Store.

Financial Literacy Apps

“Achieve financial freedom faster” with Qoins

Co-founders Christian Zimmerman and Nate Washington Jr. launched Qoins to provide a solution for tackling debt and building healthy financial habits.

How it works: Set a goal, choose your transfer method, track progress, and erase debt. The app uses automation technology to turn small transfers throughout the month into one big monthly contribution towards your debt or savings goals.

Highlight Feature: The Qoins Visa debit card is designed to help you pay down debt or add to your savings. It comes with a Qash-back Rewards program, a 10% cash-back on roundups, and a $50 direct deposit bonus.

Cost: Free app download. For $4.99 a month, the company offers an array of benefits, including easy automation technology and cash back towards debt or savings goals with the Qoins Card. You can receive all benefits and save $10/year if you opt to pay $49.99/year.

 

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“Many ways to get financially fit” with Goalsetter

Former Nickelodeon executive and Goalsetter founder Tanya Van Court created her financial literacy platform with the goal of closing the wealth gap between Black and brown families in America, and educate Black youth across the country.

How it works: Sign up and start saving right away with automatic deposits, swipes, and round ups. Goalsetter also provides rules to set up allowances and gold-clients have access to investment education into stocks and ETFs to help them manage portfolios.

Highlight feature: A smart debit card that allows kids from 8 to 18 learn how to budget proactively and spend responsibly.

Cost: Free app download. Plans start at $3.95/month which includes financial quizzes and debit cards for kids and teens. The gold plan offers more benefits for $5.95/month.

 

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“Financial wellness for Black men” with Breaux Capital

HBCU grads and Breaux Capital co-founders Ras Asan, Brian L. Williams, and Derrius Quarles are shifting the culture of financial health for Black millennials across the globe.

How it works: Apply for an account and start automating your asset-building. Once your membership gets green-lit, enjoy a plethora of benefits, including exclusive investment opportunities and community-driven education.

Highlight feature: Engage with fellow Breaux Capital members at online and in-person annual events and independently organized meetups.

Cost: Free.

 

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Investing Apps

“Create Black generational wealth” with Stackwell

Stackwell founder and CEO Trevor Rozier-Byrd designed a robo-investing app that focuses on promoting accessibility, education, and support to encourage individuals to participate in investing and building sustainable wealth.

How it works: Begin your investment journey with stress-free stock picking, automated investment portfolios, and more.

Highlight feature: In-app educational content that demystifies investing so users can grow their knowledge and their wealth.

Cost: Free app download. There is a $1 monthly subscription fee and $10 minimum investment.

 

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“A new attitude towards investing” with Wealth8

Co-founders David Fisayo and Bimpe Nkontchou are the masterminds behind UK’s first Black-owned digital investment platform, Wealth8, designed to connect Black and multi-ethnic communities with wealth and investment opportunities.

How it works: Download the app and gain access to global investment funds and diversified funds from the largest global asset manager, BlackRock Asset Management.

Highlight feature: Everyone can get access to traditionally unavailable investment options, including Africans living in major economies on the continent, such as Nigeria, Ghana and Kenya.

Cost: Free.

Banking Apps

“Join the #BankBlack and #BuyBlack Movement,” with OneUnited Bank

OneUnited Bank is the first Black digital bank and the largest Black-owned bank in America, led by Kevin Cohee. 

How it works: Having financed nearly $1 billion in loans, this bank enterprise offers online banking services, personal banking services, business banking, and more. They also promote financial literacy by conducting workshops for adults and children.

Highlight feature: Known as CardSwap, keep track and use your BankBlack Visa Debit Card as your payment option for online subscriptions like Amazon, Netflix, Hulu, Uber, and more, all in one place.

Cost: Free.

 

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“Modern banking for the culture” with Greenwood

Co-founders Andrew Young, Michael “Killer Mike” Render, and Ryan Glover are providing a digital mobile banking experience made for Black and Latino customers.

How it works: With no hidden fees or minimums, a digital bank account empowers you to save, help the community, and get paid early.

Highlight features: When you open an account, feed five meals to a family through Goodr, donate to UNCF and NAACP through spare change round-ups, and earn $10,000 every month for your Black or Latino owned business.

Cost: Free.

 

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