Trying to stick to a budget can be tough. You have to keep track of everything you spend and subtract it from your income each week. If you don’t stay on top of it, you can quickly find yourself in debt. One of the best ways to manage your money is by using an app on your phone. Your smartphone can be used for a lot more than playing games or checking social media, and managing your money with it is a great idea. There are many apps out there for you to choose from, but the ones listed below are some of the best we have seen.
- Mint – This app, available for every smartphone platform, is one of the best out there. It can sync up to all of your different accounts, including your 401k and your bank accounts. It tracks your spending when you use a credit or debit card, or you can input the expenses in yourself. The app gives you a clean interface so you can easily see how much money you have spent over a given period of time, and where you currently stand with your budget. There are a ton of tools built in that make managing your money a breeze. Best of all, this app is completely free to use.
- GoodBudget – Another free app, this one is available for both Android and iOS systems. This app is ideal for people who are looking to create a budget based on their cash flow. The app follows an “envelop” system, in which you sort your monthly budget into different categories. Then, as the month goes on, you input your expenses into the different envelops. It keeps track of what you have spent, and then deducts it from your budget. It is a great app for visualizing your spending and keeping track of everything through the month.
- Mvelopes – Mvelopes tries to give you a simplified version of a financial planner by asking you basic questions about your goals. It will guide you through different ways to think about your money long term. Much like other apps, this one will sync up with your bank accounts (don’t worry, it’s very secure) and then help you to create a budget. If you want an app that is simple to use and has long term goals in mind, then this is the one for you.
- BillGuard – There are two main goals of this app. This first is to help you understand your spending habits so that you can better plan out your finances, and the second is to keep you from being a victim of fraud or unauthorized transactions. When you open it, your inbox will show you a full list of transactions, and you must swipe to the right if it was made by you. If it was not made by you, then options come up to help you deal with the problem. This two step process helps you to remember everything you spent money on, while also checking to make sure they were in fact purchased by you.
- Pocket Expense – Our last app on the list is Pocket Expense. This free app is only available to iOS users, so Android and Windows users are out of luck. It focuses on tracking your spending while providing you with a visual outlook to help you create a budget. This app will not sync with any of your accounts, meaning all expenses need to be entered in manually. While this may sound like a hassle, it can actually be a blessing. By having to enter everything in, you are reminding yourself of the money you spent. This will help you to remain aware and only spend money when you have it.