Use Your Apple Watch to Help You Stay on Budget

Download an app to keep your spending in check

If a new budget is on your agenda, then your Apple Watch can be a powerful tool in helping you meet your goals, particularly with the use of one of the best budgeting apps for the iPhone and Apple Watch called Mint. With Mint, you can keep up with how much money you’re spending each day, and see at a glance what funds you can reasonably use that day for “fun” spending. That way you can stay on track without having to constantly pull up your bank account and figure out what money you need to allocate to where in the future.

For those of us that have a little difficulty telling the difference between the funds we might have to purchase a pair of new shoes that are on sale and the money we need to pay our cell phone bill, the app can also serve as that little birdie in your ear explaining that $50 could be better spent elsewhere, or inversely, that you have plenty of extra cash right now and could pick up two pairs if you'd like.

Mint app on Apple Watch.

Mint App

Mint for the Apple Watch is designed more to be used as a companion app for the iPhone experience rather than something you might use on its own. Mint’s iPhone app is also capable of doing things like tracking your credit score, viewing your account balances, and working on your budget. For stuff like that, you’ll still want to pull out your iPhone or iPad.

Apple Watch is an exciting new platform for Mint,” said Barry Saik, senior vice president and general manager of Intuit’s Consumer Ecosystem Group. “Mint for Apple Watch revolutionizes how consumers will interact with their money and furthers our commitment to provide consumers anytime, anywhere access to their money and financial insights.

How It Works

  1. Download or update Mint on your iPhone (available on iPhone 5 or greater) and log in with your existing credentials.
  2. After you pair your Apple Watch with your iPhone, choose to Display Mint, and turn on Glances.
  3. Once set up, Mint reviews your spending for the past 3 months in 18 “fun” categories like dining, shopping, entertainment and more. From there, Mint then encourages you to set a monthly fun spending goal, which can easily be adjusted by the user.
  4. Mint will also send you personalized weekly spending summary notifications to help you stay on track. That means you'll be able to pay attention to how you're doing as the month progresses, rather than get stuck with sticker shock at the end of the month when you unexpectedly go over budget.

Apps for Being on a Budget

If you’re looking to work on your budget in the coming year, then it can make an excellent tool to get started on the process without a ton of legwork having to be done on your part.

In addition to Mint, several financial institutions have also released apps for the Apple Watch that help you track your account. Those will let you know basics like how much cash you have in your account, or when a big deposit or debit happens. None of those options allow you to work on budgeting on the fly, making Mint’s offering a bit unique in that regard. 

Regardless of how much money you have (or don't have) budgets are important things to have. It can be difficult to build out a budget from scratch, but the Mint app can certainly be a great place to start that process, especially if you're not entirely sure where to begin.

Another popular money-related app, Cash App (formerly Square Cash), came to Apple Watch shortly after its launch. That app allows you to send cash to your friends with just a few taps. In most cases, funds are available immediately in your recipient’s bank account, making it an excellent choice doing things like splitting the check for a group dinner ​or paying your friend back for a concert ticket.