Managing your finances can be a tedious, time consuming, and even boring task for most of us. Luckily, there are numerous mobile apps available for making our life easier.
Budgeting mobile apps help you create a spending plan.
Things that may have seemed very difficult at first can be done in a fraction of a second with the press of a button.
Once you get the hang of it, you see yourself saving more money, making the right investment decisions, planning for a better future, and saving a lot of time as well.
Remember not to get overwhelmed with so many apps and their features. The first thing you have to do is define your financial goals. There are free as well as paid applications available which carry out just the right tasks for you.
Once you know exactly what you are looking for, you can go through this list below and choose the one which suits your personal requirements.
These mobile apps are available for literally every single financial goal of yours.
Mobile Apps for Money Management!
1. You Need a Budget
You Need A Budget or YNAB is recommended for people who want to be very detailed in their budgeting.
This app tracks where your income goes with an option to add transactions manually without having to link it to your bank account. However, you can also connect your account if you wish to do so, not just with your bank, but also with local institutions and credit unions.
Unlike other budgeting apps, YNAB does not forecast or create budgets for incoming money in the future.
YNAB gives support for mobile devices and has a bank syncing facility. It is also possible to add your credit cards and set a goal.
2. Personal Capital
Personal Capital is free to use where you can do budgeting, monitoring of investment and goal tracking for retirement, and even for budgeters who are focused on investment.
This app is also best for other long term financial management goals. You have to put your information and then link the accounts which need to be managed. You will be provided with charts that make it easy to track the cash flow and expenses every month.
Personal Capital comes with many free tools. You can import your transactions from various different accounts. You however are not able to create your own categories, unlike some other apps.
Mint is another free budgeting app for both android and iOS devices which also offers to provide your free credit score.
It has a very simple interface that is easy to understand and suitable for in-depth budgeters.
You are able able to connect with your bank and get alerts whenever your bills are due. Mint helps to decide how much to spend on entertainment according to your income. You also have the option to create such decisions yourself by creating your own spending goals and limits.
Mint also provides investment tracking and you can sync it directly with your accounts and helps with allocation, performance, and changes in value. The app also makes recommendations for investments.
Mint analyses your spending by month, quarter, or year. It also gives you a summary of your credit report. It helps to get better control over where you are spending and where there is a possibility of making cuts.
Goodbudget is made for people who prefer a simple, manual budgeting style and need a budgeting tool for their basic household money management. There is also an option for exporting your data.
You have to enter your financial details of all your transactions and a good budget helps to create virtual envelopes. Whenever an envelope gets empty, you have to stop spending or use a different envelope. You get 10 regular envelopes in the free version, and unlimited with the plus plan.
You can do expense and income tracking along with additional tools for budgeting. Goodbudget supports cross-platform for Android and iOS if it is required where you are able to sync everything. Not only that, but you can also create a shared budget in your house. You, however, cannot sync your bank account, you have to add details manually.
PocketGuard is a free budgeting mobile app that is there to help you track your everyday spending and analyze the same. It will help to find savings even in your regular spending.
It analyzes your spending habits and builds a budget around it. You get the record of how much you have saved from whatever is left.
You can set personal savings and investment goals. This app gives visual representations of your data such as pie charts where everything can be seen at a glance such as income, bills, etc.
You can then use that information to help you build a better budget for the future.
Wally is an app for a person who is very organized with tracking his personal expenses. You can just upload a photo of your receipts instead of having to log your expenses every day, every week, or every month. It saves you from the possibility of making mistakes while manually filling the details.
Wally is a completely free app that is extremely easy to use. It does not contain any ads as well.
This app supports almost all foreign currencies. If you travel regularly, spending outside your country becomes a lot easy for you.
You get to know exactly how much money you have and how much amount is left for the month every time you log in.
Empower is a mobile app for budgeting and banking. It makes it easier for you to control your cash flow by tracking your activity by connecting to your other accounts. It tracks your spending patterns and helps in accumulating your savings. Empower also has an autosave feature as well. You can also earn interest on your autosave account.
You can set a savings target for every week, the spending limit for the week or the month, and many different categories of your life. Empower app also helps in renegotiating your cable, phone, and internet bills.
The Empower app has unlimited Human Coaching via SMS where you get guidance regarding any financial query you may have.
An app to rescue you from the awkwardness of asking your roommate, family, partner, or friends to share expenses.
Splitwise keeps track of your shared expenses, who owes who, and balances. With a Pro version of the app, you can get even more organized with receipt scanning currency conversion, charts, and graphs.
An investing app specially designed for women!
Learn more about money and investment through quick tips, workshops, courses, and guides created by a team of financial planners and career coaches.
Ellevest puts women first and offers an algorithm tailored to women’s life by considering factors such as pay gaps and longer life spans. You can create a personalized profile and it will create a portfolio of bonds, stocks, and help you invest based on your goals.
Reach your financial goals with Ellevest.
Now it will be easier for you after comparing the available options to pick one that contains the features you need.
We will be glad to hear your personal experiences regarding which mobile apps you use for budgeting and how it has benefited you.