You’ll admit that keeping track of your finances is no easy task. You need to manage endless debit orders, unplanned purchases and financial obligations.
Knowing how much funds are going in and out of your bank account on a daily basis is definitely a full time job. You could request for a copy of your bank statement, but who has the time to do so daily?
Fortunately, technology is in your favor. Downloading a personal finance app is a smart and convenient solution to your problem. This app will certainly make life easy for you with regards to budgeting, monitoring spending and saving. Depending on the app you download, you can even access investment services. Helpful, right?
But not every personal finance app is worth downloading. And it doesn’t help that there are endless options at your disposal. To make life easier for you, we’ll list a few recommendations and give you advice regarding some of the best personal finance apps on the market today. Simply compare the features to decide which app will be serve you best.
Free or Paid
This is the app to pick if you want to learn how to budget effectively. In fact, the Mint personal finance app is considered the best budgeting tool on the market. And the best part is you can also use it to manage your investment activities.
You can view your bank—and investment accounts—in one place saving you time. No need to switch from one window to the next looking for a specific account.
All your transactions are automatically categorized so you can keep track of your spending. Categories include food, clothing and entertainment. Over time it’ll give you a rough estimation of your average spending money within each category. This makes it easy for you to learn which areas you need to cut back on financially.
It’s impossible to keep track of all the bills you need to pay monthly. Mint allows you to set up bill reminders via email so that you don’t miss a payment. The app is also designed to notify you if your cash is running low or if credit card balances are skyrocketing so you can better manage your finances.
You Need a Budget (YNAB)
Are you constantly wondering where your hard earned money is disappearing to every month? Do you find yourself in debt most of the time? Download the YNAB app to regain control of your finances.
The concept behind it is pretty simple; with just a few tweaks to your spending lifestyle, you can definitely find ways to save money. And that’s the main purpose of this app; to teach you how to effectively manage your money.
How? With this app you can get an accurate picture of your day to day spending. The app is designed to provide you with detailed reports of your expenses. In addition, it also reveals areas where you can be more frugal.
This app has a free trial for 34 days, after which will be USD$84/year.
Wally is a money management tool best suited for the user who doesn’t want an app that automatically links to his or her bank account. With Wally you need to manually insert this information yourself giving you total control of your budgeting.
Here you insert your:
- Preferred spending categories
- Accounts be it saving, current or loan
- Payments (With the option of attaching your receipts)
- Daily budgets and savings target for the month
Wally helps you keep track of your bank accounts and cards. This way you can better monitor your expenses.
Because it’s not linked to your bank account, you don’t have to worry about funds disappearing. All you need to worry about is your spending behavior. Even so, all the data you input in the app is password protected.
This is the app to download if you’re looking to spend, save and invest effectively. The Acorns app is less of a budgeting app and more of a saving tool.
Acorns is designed to automatically round off amounts each time you make a purchase. The change is immediately redirected to your investment portfolio. Sure, it only saves cents per transaction but you’ll be smiling when you discover how much you’ve saved in dollars come end of year. Think of it as your very own piggy bank.
You also have the option to invest lump sums manually. Alternatively, you can set it up to perform recurring deposits on either a weekly or monthly basis.
The Personal Capital App is yet another tool you can consider if you want to effectively manage your investment accounts. Here you have the option to invest your assets but at a fee. As a result, you have access to a wide range of financial and investment check-up tools. Both are aimed at helping you better evaluate your investments.
These tools will analyze the asset allocation in your investment accounts and recommend a target allocation.
Do you want to plan for your retirement? Pick this app that provides you with a retirement planner.
Download this Clarity app if you want to budget and save. Like most financial apps, users can link their bank, loan and investment accounts to this app.
After consolidating all your financial information, the app creates a pie chart which outlines your balances and what products you’re paying for. Here you can identify the areas where you’re overspending and adjust accordingly.
The same app is also designed to identify your recurring expenses such as your gym memberships or Netflix accounts. Using this content, you can decide to cancel any unwanted accounts depending on your budget.
Aside from helping you keep track of your spend, Clarity gives you the option to save. You can determine the amounts you want to save including the preferred timeframes. Do you prefer to save on weekly or monthly terms?
If you find yourself struggling to keep track of your payments this is the app for you. Never miss a bill if you pick this app which is designed to send you reminders regarding impending due dates.
With this app, you can view your income in relation to your expenses. This app will help you better organize your finances by helping you set up weekly or monthly bill payments. Basically, you have the option to pay your bills when you want to. You’ll also receive payment confirmations after each transaction.
If convenience is what you’re after pick this app that allows you to view your income and expense balances in one place. It’s ideally suited for shared expenses for your household budget. You can use the same app to create specific categories depending on your spending needs.
With this app, you have to manually link your bank accounts to the app. Only after doing so will your transactions be automatically imported to the app. You also have the option to add your E-wallet and cash expenses. This way you can track your expenses and identify which areas you’re overspending.
Spendee allows you to see exactly where your money comes from and how you spend it. Did the money come from a salary or regular deposit? Here you’re better able to keep track of who paid money into your account to effectively monitor your debtors.
The same app will also help you save the extra money for your future plans.
When it comes to financial discipline, every dollar counts. And that’s the premise upon which this app is built. The app uses the zero-based budget method recommended by financial experts designed to give every dollar a purpose.
The first step to spending your money wisely is by creating an effective budget. And that’s where this app comes in. It’s designed for the individual who is new to budgeting and wants to create a realistic budget in just a few minutes.
You first need to manually insert your income including the extra money you’re likely to make that month. Then you carefully plan your expenses by making use of the customizable template provided. Here’s how it works: each time you spend money, you must create a transaction and track it onto your budget.
As you can see, using this app calls for utmost discipline to keep it updated. You won’t be doing yourself any favors by skipping a few entries. This will only result in an incorrect representation of your spending habits which defeats the purpose.
Alternatively, you can connect your bank accounts to the app. This way you’re in a position to get your income and expenses balances directly from your bank to keep track of your spending.
The Mobills app is best suited for people looking for an effective budgeting app. It’s designed to categorize your expenses so you can track your expenses in relation to the budgeted amount. This way you can tell when you’re overspending and make the necessary adjustments.
You can connect your credit cards to this app so you can view your spending limits and balances in one place. The same app will also help you manage your bills. Add your bills including their due dates so you don’t miss a payment.
While the app comes with a free version, note that it will have limited features. To enjoy all the features mentioned above, you must upgrade your subscription to a premium account.
If you find yourself running out of money before the end of each month consider this app. As the name suggests, it will help you keep track of how much is in your pocket.
By using this app, you can significantly lower your expenses. It’s not uncommon for unauthorized charges to occur on your bank accounts. But keeping track of each and every error is almost impossible—unless you use Pocket Guard. It’s designed to pick up any unauthorized debits, hidden fees, billing errors as well as fraud.
For this to be possible, you need to link your credit cards, loan, bank and investment accounts to the app. All transactions are then updated in real time. As a result you can see where your money goes at all times.
Are you tired if making bad financial decisions? This is the app for you. Albert is specifically designed for people who are easily frustrated by the math involved in budgeting.
The app is designed to do all the hard calculations for you. It works by analyzing your income, spending and overall financial status. Using the information gathered, the app will calculate how much you must save each month and automatically transfer that amount into the Albert Savings accounts.
Transfers are performed at least twice or three times a week and may range from as little as $5 per transfer.
If you prefer to be actively involved in your savings, you can set aside the exact amount you want to save on a weekly basis. The icing on the cake is you’re rewarded for saving with this app. Albert pays subscribers a small reward for saving money.
This is the app for users who want to manage their finances from wherever they are. This is because information can be synced onto your mobile platforms be it Andriod or iOS for easy online access. Quicken allows you to enter every transaction as you spend. You even have the option to scan receipts.
View and read balances up close with this app. And also get a better idea of your spending patterns so you know which areas to improve on. If you have any query regarding a particular transaction, simply search on the transaction history.
Aside from budgeting, the same app can be used to manage your investment accounts. Here you can regularly check on your investment activities.
This is the app to pick if you want a user friendly app that helps you with managing your expenses. Monefy is extremely easy to sign up and use & makes the process of entering transactions quick and effortless.
You have the option to add your spending categories. Any time you spend some money, simply insert the amount and click add. It’s that simple.
At the end of the month you can analyze your spending patterns as shown on the distribution chart created by the app. From there you can decide which areas you need to cut back on if necessary.
This is for the individual who wants to maximize the rewards on their credit cards. Many people tend to forget claiming rewards linked to their credit cards after each transaction. Even if you don’t forget, you might find the process time consuming. That’s where Birch comes in to automatically redeem your rewards.
Like most finance apps, you must first link your credit cards to the app. Birch works by analyzing your spending patterns and giving you suggestions based on those patterns.
You need to first input the rewards you want from each credit card onto the app. These can be perks like cash rewards or frequent flyer points.
Individuals interested in both saving and investing will appreciate this app. Whether you want to save individually or as a business, try it out. It helps you keep track of each user’s contribution and overall financial goals.
You can either save your cash and earn interest or alternatively you can invest in an investment portfolio. This makes it the ideal app for people who are saving with specific goals in mind such as buying a car or home.
Download Twine App at iOS.
Again, this app is for people who prefer the conventional methods of budgeting. You have the liberty to enter your transactions manually to give you better control of your spending. But using this app will require discipline. Avoid skipping any entries to prevent a false representation of your financial affairs at the end of the month.
The concept is quite simple; you enter the amounts as you make your purchases. If there is any change left in a specific category, it’s carried over to the next month.
Digit is yet another app designed for people who want to save. It works almost the same way as Acorns whereby it automatically saves a certain amount of money each day.
The app automatically links to your checking account and analyzes your spending patterns. Small amounts are saved daily and you’re given a weekly balance of the amount saved.
In the event that you want to withdraw from the savings account, simple send a text message with the instruction.
This app is ideally suited for the user who wants to keep an eye on his or her credit score. With this app you’ll receive your credit reports and score—free of charge.
The app is designed to update your credit score weekly. If you ever want to apply for a loan from a financial institution, having this app is quite handy because it’ll keep you in the loop. You’ll know which type of loan to apply for depending on your credit score, be it high or low.
It helps you plan ahead. If you have bad credit score, you’ll save yourself the trouble of applying for a conventional loan and opt for a bad credit loan.