Five Budgeting Apps To Help You Manage Your Finances
Budgeting allows you to take control of your money which ensures you have enough for everything you need. Following a budget will prevent you from getting in debt or getting out of it. Here are the five best budgeting apps to help you achieve a bright financial future.
Do you want to make the most of your money? It’s not just you, but almost everyone who suffered from the challenges of budgeting especially when they’re starting their career. With that being said, it’s the stage where you’re struggling to pay your monthly rent, bills, college loans, etc.
On the other hand, technology can help you significantly. Thanks to budgeting apps, they will help you evaluate your situation, establish a budget, identify the best deals, help you save, and keep you from making unnecessary spendings.
Are you ready to take control of your budget? Check our six budgeting apps to help you lead a brighter future.
YOU NEED A BUDGET (YNAB)
Best budgeting app for planning your monthly expenses
YNAB is a relatively simple platform. It allows you to assign your money to a category. This includes savings, daily expenses, and monthly bills. The tool is flexible that you can customize according to your unique needs.
Sort your salary into categories This includes recurring bills such as rent, food, transport, etc. You can also assign a portion for savings. The leftover amount is yours for guilt-free spending on tech, video games, even beer.
For American users, it offers automated transactions when you connect it to your accounts. Unfortunately, this isn’t available for UK users. But don’t fret. It can work around with Monzo, which is a UK-based bank with a mobile app.
You can also download a.QIF file with all your transactions from your bank accounts. It also lets you import them into the YNAB which allows you to create a budget for next month. With this budgeting, you’ll be able to make wise choices and let you take control of your future spendings.
In addition, it has a simple and clean interface. It automatically keeps a tab of your average monthly spending while carrying over your unspent budget. All-in-all, you get very minimum work for all your budgeting activities.
Best budgeting app to help you track your spending
Tracking your spending is one of the most challenging tasks in budgeting. It takes a lot of time and it involves a lot of spreadsheets. Unfortunately, some people opt to manually track their spending. However, using a budgeting tool will make the task a lot easier.
Furthermore, MINT offers a bird’s-eye-view of all your spending and total assets. Likewise, this app offers a monthly budget which is one of its attractive features. As with benefits, this includes a lot of things such as rent, charity, groceries, etc. It gives a green progress bar that turns yellow or bright red when you’re going over your budget.
The transaction section lets you know your current financial state. This gives you a good view of all the lists of where your money comes and goes. As a result, you get your spending chart that is much easier to understand and attractive to the eyes.
Often, budget breakdown along with spending charts is extremely helpful, embarrassing at times, but all of these depend on your course of action. Also, it lets all your accounts and loans gathered into a single place is much efficient to monitor your spendings as well as your savings.
In addition, it also helps create savings goals, debt payments, spendings, track your bills, see your credit score, as well as suggest credit cards and current banking offers. Above all, it’s a good budgeting app knowing that the app is free. Despite it being free, it’s still a great app for tracking and priority spending.
The DIY budgeting
Google Sheet can be a good tool if you want to do everything yourself. Likewise, most people prefer it this way and it works for them. Google Sheet lets you create categories for all your expenses. You can even add an income tracker.
Unfortunately, it involves a lot of work to put the spreadsheet together. That’s mainly because of the tinker and different functions and formulas. Although this is a little bit old-fashioned, it still offers exactly what you need.
Best tool to set up fund for emergency
Budgeting boils down to saving more money than you spend. Unfortunately, it’s easier said than done. Most of the time, we only throw money into a single savings account and forget about it. Seldom do we assign a goal to that account a portion for emergency or last-minute travel decision.
And then there’s Digit. It’s an app that’s specially designed to save money thanks to its goal-setting feature. It has a simple, attractive, and motivating interface. This makes saving as easy as connecting your bank account and setting a financial goal simultaneously. Likewise, the app will help you monitor your spending which allows you to save as much as you can.
You can even split your savings into different goals. Another notable feature of the app is watching your progress by using the tracker. It allows you to complete the goal or tell you to withdraw the money. But the best thing of all, Digit has a new feature called Overdraft Prevention and Overdraft Reimbursement.
The best all-around accounting app
The accounting app lets you check your expenses and clear everything at the end of the month. This allows you to pay your bills ahead of time and all you have to do is enter them before the payments are actually made. This gives you a clearer view of how much money is available each month.
Buxfer, on the other hand, is personal accounting software that’s easy-to-use, learnable, and flexible. It also gives you easy access to your data for download. It also lets you enter your expenses and income manually. The app does almost everything that every popular accounting software does.
It lets you save for your home, pay for your credit card, and even set goals. You can also split bills with your wife, husband, roommate, etc. More importantly, you can track who pays for this and that. Buxfer is free, however, if you want more advanced tools, we suggest you subscribe to the “Pilot” account for $2 a month.
This gives you features like automatic syncing for utilities, mortgage, bank and credit card tagging, etc. Moreover, it offers a clean and intuitive interface.