Everyone can use some help from time to time to keep their spending in check. Most off us think that one more Starbucks frappe, a few beers after work, or Friday nights pizza isn't going to make the difference in meeting our financial goals. But all that haphazard spending can actually wreck havoc on your financial independence both now and in the future.
Maintaining a budget is even more important if you are facing challenges like unforeseen medical bills, or setting a big goal like paying off student loans, saving up for a new car down payment, or buying your first house. Luckily, there are some free ways to reel in your spending and keep more money in your pocket. Here are 5 money management apps we came across on Google Play that can help you see where you are overspending and help manage your finances.
This app is the choice for people who like things simple and minimalist. You simply enter your monthly expenses, tell the app what money you have coming in, and then allocate those funds to each bill. Fudget then deducts that money from your available budget. A lot of users like this app because it requires a pass code which keeps prying eyes from seeing your accounts. Developers are active in replying to user reviews and continue to update the app. Get it here.
GoodBudget is a unique app and money manger that helps you track expenses by creating 'envelopes' for each of your monthly expenses. You then need to put money into each envelope by a due date to make sure the bill gets paid on time. It might sound old fashioned, but for a lot of people looking to manage their home budget GoodBudget is the go to choice. The best thing about this app is that you can sync it across all your devices including your home computer, iPhone, and Android for real time money tracking. That means everyone who participates in the family budget can see if you're meeting your planning goals. Click here to download.
Mint is an app you have probably heard of. It's provided by Turbotax - the same service that a lot of us use to pay our taxes. Mint is a great budgeting tool that also includes a free credit tracker. That makes it easy to see if your making progress on your financial goals and building your credit score. Mint also gives you the option to link bank accounts, monthly bills, and even your investments into one place so you can see where to pinch some pennies, and be sure you're paying all your bills on time. The download is free by clicking here.
My Budget Organizer
This is a good choice for the non-native English speaker because the app is available in 20+ languages. MBO is a financial planning and personal asset management app that aims to help you save money by keeping an eye on your budget and expenses. My Budget Organizer is great for those of us who like to see visual representations of their finances because the intuitive user interface includes plenty of charts and graphs that are really fun to look at. You can also synchronize data between all your devices. Get it here.
Money Manager Expense & Budget
Maybe the most advanced of the apps we came across, Money Manager Expense & Budget combines just about every feature of other apps in the store. You get budget and expense management, credit and debit card management, bank account transfers, direct debit and recurrence functions, instant statistics, bookmarking, and backup/restore options.
Accounting majors will love this app because you can apply double entry bookkeeping that will automatically deduct funds when an expense is entered. You can also set a pass code to protect your information and add photos of expenses (like dinner out). Money Manager Expense & Budget is the best choice if you want full control of your budget with lots of customization, but new users probably want to start with one of the other apps to get the hang of things first. Download the app by clicking here.
Comment below and tell us:
What methods do you use to stay on track and manage your budget?