Millennials refer to that generation of adults who grew up and came of age in a digital environment that influenced their social, financial and political views. Described as digital pioneers, they took to using different computer software and mobile applications to help them navigate their way out of the debasing effects of the 2007-2008 financial crisis.


While many among them turned to getting free advice and guidance from Personal Capital, not a few strove to achieve financial independence when they moved toward becoming heads of their own household. Transitioning from being hard working college students into becoming the new breed of able professionals, they managed to come out of the COVID-19 economic recession with a strong sense of resiliency.

It was a feat much easier to accomplish in the digital age, as there’s an abundance of free resources to use to help them stay on the right financial path; including ventures into the world of micro-investing.

Yet if there’s one financial app important to every millennial it’s the app that constantly keeps an eye on their respective bank account. Whereas before, it was hard to keep track of all financial transactions, as not all data was provided in real time.

What Makes Financial Apps Important for Millennials?

Today, one’s bank can connect to other banks and other institutions by way of third-party integration using an Application Programming Interface (API). The API provides the secure digital space within which the online banking platform and apps built in external platforms meet and work together to allow processing of financial transactions in real time.


Still, if you’re someone who deals with multiple banking accounts for business and personal purposes, it’s best to have a mobile app that can monitor the recent transactions that created changes in your account balances. That way you can make the necessary fund transfers to pay for bills as they become due; or know beforehand the surplus funds you can use to shop online.

Out of the numerous mobile apps available as free tools to use in carrying on with financial transactions, the typical millennials are inclined to use a budgeting app that also offers investment services and financial products.

Citing The Money Patrol As Concrete Example of a Highly Useful App

One such app to cite as an example is The Money Patrol, introduced to us by the Alternative to Personal Capital website. This app uses advanced secure systems for tracking, monitoring, alerting and budgeting financial accounts to help the user manage his or her personal finances.

The Money Patrol app can do financial plans for an entire household. The idea is to help users include saving for the future as part of the family’s financial plans: such as setting aside money for college education, medical emergency funds, and retirement plans.


Knowing that there’s a tool that will let you know if you have to improve or correct your earning capabilities and spending habits can make you feel less anxious and even more relaxed. According to surveys, about 83% of millennials feel better as they go to bed at night, by using an app with a more relaxed view of the future.