How to Manage Money As a New Immigrant in the U.S

 

Immigrants to the United States don’t struggle with their money if they know the right finance apps to suit them. 

It takes some time to adjust when you immigrate to the USA. Nothing waits for you when you land on U.S. soil. You must find where to live, shop for groceries, or work. So how do you apply for a credit card without a credit history? 

If you don’t plan your finances, you may be in a difficult situation, especially when you have a tight budget. 

The good news: Pay4Me has listed some websites and finance apps to help new immigrants manage their money in the country. 

Top 6 Finance Platforms for New Immigrants 

Nova Credit

Since you will have no credit history when you come to the United States, you need to find the easiest way to build it. Many newcomers find it strange and challenging to understand why they need good credit to live a normal life in the country.

You may not get a car loan or mortgage easily if you have a bad credit history. As a result, you tend to suffer from high-interest rates on most loan applications. In addition, you may not get employment in some states without a credit history. 

Nova Credit supports newcomers with international credit history to build credit in the United States.

Cost: You don’t pay for the services.

Features

• The app partners with companies to help newcomers build their credit and receive credit cards, loans, cell phone plans, and apartment providers, including apartment guarantors.
• You can easily use the app because of its excellent user interface. In addition, you receive answers to most questions. 
• Nova Credit sells to other businesses and not to the user. 
• You have to build U.S. credit 
• Not all countries support the app 

Finhabits

 

The myth that money grows on trees in the United States fades away when you land in the country. But, unfortunately, it is not as easy as most people paint it at home. The bills run quickly to stack up, and you must clear them monthly.

However, you don’t have to invest or save immediately after you arrive in the United States. With Finhabits, you can manage your money. The app allows you to save or invest in small amounts.

For instance, you can save as little as $5 weekly. The app helps you through the process and offers you a suitable investment plan. You have access to your funds and a

Cost: You must pay $1 monthly if your account has less than $2,500 or 0.05% if your account has over $2,500 annually.

Features

• The app is bilingual ( Spanish and English)
• You conduct your financial transactions online.
• You receive personalized goals 
• You get charged for each fund you invest in.
• Little support for experienced investors

MYRA Wealth

When it comes to financial planning, you will discover that the process is more complex in the United States. With hundreds of individuals andloan companies offering help, you should understand that you will pay tax. 

Myra Wealth helps new immigrants with their financial planning and tax return preparation. In addition, Myra Wealth's "Your Personal Financial Website" prepares you with an overview of your finances and a 360-degree view of your investments and net worth. 

Cost:  You have to pay $250 monthly, depending on your level of financial services. 

Features:

• The platform is a fiduciary company, which means it works in your best interest for a flat fee, not for commission.
• You receive customized assistance, financial management, and tax preparation.
• It has no app
• No flat fee

Remitly

When you start working in the United States, you will always need to send money home. But, whether you want to send money for investments or your loved ones, you don’t have to struggle to make such cross-border transactions.

Remitly offers you a platform to send money home from the United States. You tell them the amount, to whom you want to send the money, and when you want the person to receive it.

Cost: You don’t pay to use the app. However, sending rates depend on the country.

Features:

• Remitlyoffersa transparent pricing framework
• You can use it to send money to many countries
• It provides a user-friendly interface
• You get rewards
• You have a monthly limit, which can be lifted when you make a request

Pay4Me

 

If you want a financial app created for Africans, you can download Pay4Me App for your cross-border transactions. Pay4Me offers a simple, user-friendly platform with clear, transparent pricing.

With the dollar rising against the naira, you can get notification pushes on when you can send more home. In addition, the app offers you a rich blog that will help you learn more about finance and travel abroad tips.

Pay4Me App provides seamless, fast, and reliable cross-border payment services for international students and migrants.

It offers one of the fastest, most reliable ways to make educational and immigration-related payments like SEVIS Fee, WES fees, school fees and deposits, application fees, pocket money, and more.

Costs: Pay4Me is free to use

Features:

 

• It offers a user-friendly interface
• Most competitive exchange rate
• Ability to pay for SEVIS, WES, application, and tuition fees
• You get rewards
• Student loan offers

 Propel

 

You may often face financial difficulties in the United States, but Propel offers tools to help you navigate bureaucratic and technophobic programs such as Medicaid or coupons during your challenges.

You can take advantage of theU.S. government's SNAP benefits like food stamps and Electronic Benefits Transfer (EBT) cards for residents who need food.

With the support of Propel’s “Fresh EBT” app, newcomers can save money using coupons, manage food stamp benefits, and earn income by finding a job.

Cost: You don’t pay to use the app.
 

Features:

• Propel is user-friendly.
• It offers access to key food stamp benefits.
• In addition, the app helps you to track and control spending.
• You can save money with the digital coupons 
• You should seek advice when using public benefits

Conclusion

 With these apps and websites, you can have a great time in the United States as a newcomer. For Pay4Me, you can get up to $100,000 in loans to study abroad in the United States and Canada. Applications are super easy. No cosigners, collateral, or US or Canada credit history is required.