I have always been haphazard when it comes to managing expenses and following a budget. I forget where I spend and how much cash I have left on me. When the month ends, and I sit down to calculate, I am clueless as to where half of the money goes. Is it in my closet in the shape of a new jacket? Is it the new cushions on the couch? Is it the car insurance? Or did it simply disappear into thin air? In short, it is a disaster.
To be honest, nobody really likes budgeting. It is time-consuming, stressful and ends up giving you a killer headache. When a family sits down to have the budgeting talk, secrets come out, accusations are made, and nothing gets solved.
Well, there is a wonderful way out – mobile apps! We are glued to our smartphone 24/7. We use our phones to send important emails, capture pictures, transfer money then why aren’t we using it to make a budget? There are several smartphone applications devoted to budgeting. They will make your life easy! Download them right now and save money, manage expenses, and avoid late payments.
Here they are:
Are you always scampering to pay your bills at the last moment? Are you always losing track of your money? If your answer is in affirmative, then this awesome budgeting app will be a lifesaver for you. Available for iOS and Android platforms, Mint keeps your financial life in one place. Connect it to your bank account within minutes and let it help you maintain a personalized budget.
From sending you alerts about upcoming bills and fees to tracking your credit score, Mint keeps you up to date. The app also has an online component which you can access through a computer. If you have any concerns about security, then let me tell you that Mint is developed by the makers of TurboTax®, an American tax preparation software package trusted by millions of people. Overall, Mint is a neat app that will vanish your budgeting woes.
When I receive my paycheck, I am over the moon. I imagine myself surrounded by huge bundles of money and how I can use it for retail therapy. Well, PocketGuard gave me a reality check. If you are like me and tend to go overboard, this app will tell you how much you can afford to spend each day. It connects to your credit cards, checking and savings accounts, investments and loans, utility bills, subscriptions, and categorizes your finances and transactions. It used a secure encrypted, read-only connection to access your data. In my eyes, PocketGuard is a personal money god-fairy stopping you to go to extremes.
3. Unsplurge (iOS)
For all the spendthrifts in the world, Unsplurge is a magical platform to help you save money. It is all about resisting little temptations, saving a lot, and splurging only on what you really deserve or desire. The app lets you make goals that could be donating money to charity, purchasing an item you longed for, that holiday trip you have been dreaming about or simply to save up a certain amount of money. According to its users, Unsplurge makes budgeting fun and allows you to spend money guilt-free. At the moment, the app is only available for Apple users for free.
Empower is a ‘free’ financial adviser that works personally for you. It helps you make a reasonable budget, advise you on how to make the best financial choices, and boosts your savings. From credit cards to bank accounts, you can see all the information at one place. If you save only leftovers at the end of the month, you can enable its auto save feature that automatically saves 5% of your paycheck. Empower gives you an insight to the best deals, insurance options and lets you smartly negotiate. The app also sends out alerts even if you are logged out of the app.
GoodBudget uses the tried and tested envelope budgeting method in sync with the whole house. With the help of this modern budgeting program, the family can keep track of the money, and where it goes. You can put cash into several envelopes and categorize them such as grocery, entertainment, and utilities. Use money for each category from its allotted envelope. For instance, if your entertainment envelope is empty, don’t use the money from other envelopes. GoodBudget really ‘disciplines’ you with money.
Honeyfi is probably the best budgeting tool for couples. When you run a household together and share expenses, certain frictions can arise if you two are not on the same page. With Honeyfi, you can simplify your budget and spend wisely… together. You can create a household budget, pay bills, and even comment and tag each other on your purchases as yours, mine, or ours. Moreover, Honeyfi is with the couple at various stages of life – from getting engaged to leasing a house and from getting a promotion to having a baby. Isn’t that neat?
7. Wally (Android, iOS) – FREE
Wally is a personal finance app that keeps your financial life organized. Whether it’s your credit card statement, a hospital bill or a scanned receipt, Wally tracks each and every monetary data and adapts to your lifestyle. It will set goals for you to achieve that can range from saving money to paying off bills. In short, Wally is your smart best friend that has your back all the time. It does help that the app is aesthetically pleasing – it makes budgeting a little more tolerable!
This app is sternly telling you that you need a budget, and it’s right. The app is a sleeper hit among tech-savvy people and it has successfully built a cult following. Similar to its name, You Need a Budget is pretty straightforward. It wants you to take better control of your income. To achieve this, YNAB has four rules. It wants you to assign each dollar you earn a job, pay off the priorities like bills and debts, save money and modify your budget according to changes. Here is a catch though; the app is free only for 34 days. After the trial period, that it is $83.99 for the year.
Personal Capital is not your average budgeting app. It is more targeted towards businesspersons and investors. It is one of the best apps out there if you need guidance regarding your investments and managing your wealth. It utilizes robo-advisers to help you make smart monetary choices. Users can connect their banking accounts and track spending, net worth, and portfolio performance. The best part is that it is completely free!
Where does all your money go? Spendee will let you know… every day, every week, and every month. There is a shared manual wallet for all the members of the house. Users can track their savings and spending at one place. It has a unique ‘international’ feature that allows currency change when you are traveling abroad. The basic version is free of cost but there is Spendee Premium version that has more features such as innumerable wallets and synchronization with bank accounts.
Next time you are worried about creating a budget, simply download one of these apps. It means there will be no more stressful sessions with pen and paper or the confusing spreadsheets. The virtual budget planners lets you know where you stand financially and help you stay on top of your bills. For me, the budget app was a life-changer, and it has made my life so much easier. What are you waiting for? Go, and download! You can thank me later!