If you are looking for a budget app, then there is a good opportunity that you have come to Pocketguard in your search. This has been since 2015, and it has received a lot of fans over the last few years, equally with the high praise of Android and iPhone users.
Like rocket money, Pocketguard is a great fit for average intelligence, with a series of features, ease of use and an inexpensive price. Where it is the most, it is accompanied by its debt plan facility, which can help you make a strategy to pay your outstanding balance.
Is Pocketguard the right budget tool for you? We took it for a test drive to help you decide.
8.8
Potcar
Like
- Loan payment scheme
- Added security layer
- Bill -interaction
- Individual finance education
Do not like
- Limited testing period
- No membership canceled
- Consideral data privacy and marketing policies
How does Pocketguard works?
Pocketguard works like most budget apps: you can link your checking, savings, investment and credit card accounts using plaid and finance to import your data in a few seconds, without sharing your account number or sensitive information.
Pocketguard automatically sorts some of your transactions in categories, but I had to manually sort in many ways. It is not necessarily a bad thing, though. Taking extra time to think about where your cash is going, can help you manage your money better.
You can also label your recurring charges, set saving goals and perform all general budget activities that come with most other budget applications.
The most valuable feature of Pocketguard is its debt payment tool, which can help you make a payment plan, it can calculate how much interest you will pay and track your progress.
I was disappointed that the app did not encourage me to see if I could set even more to pay my credit card balance. If you want an app that can challenge you to be a better bedgator – and can hold you accountable to your goals – then you can consider Cleo.
What do we like
- Loan repayment scheme: The loan can be heavy, and Pocketguard can help you create a strategy to deal with yourself. Many budget applications do not offer this facility.
- Additional Security Layer: Pocketguard requires a unique pin to reach your account, and it also provides facial and fingerprint recognition to sign in. It can give you peace of mind that your financial information will not slip in the wrong hands – even if you lose your phone.
- Bill interaction services: Pocketguard will automatically try to save something on recurring bills such as your cable, home security and mobile phones. If the company successfully reduces your bill, it will take 40% savings. (Rocket money also offers this service and charges 30% to 60% of your first year savings.)
- Personal Finance Education: The app includes a free, 20-minute, self-directed tutorial that covers different approaches for budget, debt management, target setting and more. While the information is very basic, it is helpful for anyone in the initial stages of making money plan.
What did we not like
- Limited test period: The free testing period of the pocketguard is only seven days, which is not a tonne time to see if the app corresponds to your needs. If you decide to pay for the app, I initially recommend selecting a monthly billing option. Although it is more expensive at $ 12.99 per month, you do not want to lock yourself at $ 74.99 annual cost, without confidence that you will actually use the app. There is a free version of Pocketguard, but it is very naked.
- No membership cancellation service: The app can show you your recurring membership and provide instructions to cancel them, but you will need to do legwork. On the other hand, rocket money, can identify and cancel your membership for you.
- Conscious data privacy and marketing policies: Pocketguard says, “We don’t sell your data, we do not show advertisements and we earn especially by selling membership and better service.” However, the company’s privacy policy involves discretion about using your financial information from its marketing partners to generate offers for products and services. When I started using the app, I had to ask that it should not track its activity on other websites.
Is Pocketguard safe?
When it comes to keeping your data safe, the pocketguard examines all boxes. The company uses a 256-bit SSL encryption, and it is a step beyond many other budget apps, asking you to make a unique pin for account access. You can also enable the face and fingerprint recognition for an additional layer of safety.
Who is the most suitable for Pocketguard?
If you are juggling several credit cards balance and want an easy way to make payment plans and monitor your progress, then Pocketguard is a solid pick.
Options for Pocketguard Budget App
If you are considering Pocketguard, make sure you also see rocket money, which was CNET Editors choice pick for the best overall budget app in 2024. Using rocket money is equally easy, its price is low and provides all the basic budget facilities required for you. It offers a free membership cancellation service and credit score surveillance, but it lacks the loan payment equipment of Pocketguard.
See our best budget application roundup to search for other options
Manage your money easy with pocketguard.
Pocketguard has two pricing levels, one for $ 12.99 per month or another $ 74.99 per year.
If you want to help plan to get out of debt, pocketguard may be worth the cost. According to the company’s data, it helps users to pay more than $ 90 million in loans. And if you have a cycle of bills and membership, the app can help you interact on some of those costs or shows you how to completely cancel the service.
It depends on what you need from the budget app. Both apps have similar features and pricing models, although rocket money is a bit cheaper. However, Pocketguard has an edge to users who want to help pay loans.