For a lot of people, budgeting, saving money and tracking their finances is difficult. That’s because we are bombarded with a bunch of marketing schemes every day that makes us want to spend rather than save our hard earned money.
With these 15 powerful money apps, you will learn to like budgeting and saving. I think it’s actually fun to challenge yourself and cut spending in order to reach a saving goal. Check out the list below to find an app that suits you best.
Clarity Money is an iOS budget app that helps you control your finances in many ways from canceling wasteful subscriptions to creating a savings account. Aside from that, it also alerts you if you are spending more than your allotted budget in different areas of your finances. For example, if you are buying more groceries than you’re supposed to buy, the app will remind you before you spend.
Clarity Money uses artificial intelligence to analyze your spending habits. It uses the data it acquires to create a financial goal for you with a specific target date. Aside from controlling your spending habits, the app also helps you lower your bills by canceling needless accounts and finding a lower credit card.
Mint is a budgeting app created by the same team who created TurboTax and Quicken. The app is available for both Android and iOS users. Mint creates a personalized budget for you based on the financial data you have. It also notifies you of unusual charges and informs you how to reduce the money you spend on your monthly bills and fees. Most of all, it shows your credit score so that you will know the overall condition of your finances. All you have to do is connect your bank to the Mint app and let it do the dirty work for you.
What makes Mint standout over other apps is its investment tracker feature which helps users compare their portfolio with the market benchmarks as well as track all their asset allocations across all platforms, such as their mutual funds and 401(k).
Mvelopes is a budgeting app that uses the envelope system and is available for iOS and Android users. The developer of Mvelopes believes that financial freedom does not come with a bigger paycheck but from how you manage your money. Therefore, it helps you manage your money by setting up a monthly financial plan for you based on your income. Aside from that, it also helps you manage your credit card spending as well as eliminate all hidden spending you might have.
In case you have difficulty with managing your finances, the Mvelopes team provides financial coaching and education on money management. Get professional advice from their Certified Budgeting Coaches and receive tools that will help you build your savings and eliminate your debts.
Unsplurge is another iOS budget app but works with a different twist, it lets you save for something you love or look forward to. It works on the principle of delayed gratification where you save for something which you can splurge on later, like a vacation in France or a new car. Unsplurge also has a social network where you can share your goals and progress to the community, your family or your friends. These people act as your cheerleaders and motivators as they cheer you up for every goal met or encourage you in case you are lagging behind.
Good Budget is a budget app that uses the envelope system of budgeting. The only difference is that you don’t have to carry a bunch of envelopes with you. Just like the paper envelope system, you start by placing a certain amount of money for each expense that you have, such as groceries, petrol, transportation, eating out, etc.
One of its notable features is it allows you and your spouse to sync your accounts so that both of you stay on the same page of the budget you have set for the family. The app lets you know who’s spending the money, where it is going and how much is left in each envelope. Good Budget is available on iOS and Android.
You Need A Budget or YNAB allows you to create a budget based on a four-step plan: use last month’s income, monitor infrequent expenses, make every dollar work for you and prevent overspending. If you are looking for an easy way to change how you budget, YNAB is your go-to app. If you want to try how it performs, it has a 34-day free trial period and after that, it’s $50 a year. YNAB is available on both iOS and Android.
Some of YNAB’s features include bank syncing with thousands of banks and gives you real-time info about the condition of your finances on any device including debt pay-down which teaches you how to pay your debts effectively.
Level Money is both an iOS and Android budget app which allows you to save money by telling how much you can spend each day, week and month. It works like a GPS for your finances because it lets you know exactly where you are and gets you where you want to go financially.
Instead of just tracking your expenses and budget, it analyzes how much money you have in your budget and does the calculating how much you can spend. If you have to purchase something bigger than your given budget, the app helps you plan how to do that. It also does the same way for your debt repayment.
Qapital is a unique budget app because it charges your guilty pleasures and automatically puts the money you don’t use to your savings. It also enables you to set rules for your savings and identify the triggers of your expenses. For example, it reminds you to set aside a certain percentage of your income every time you receive payment from a client, an essential feature, especially for freelancers.
Aside from that, it rewards you every time you spend less than your budget or resist buying things you want to cut back by putting that unconsumed money straight into your account. On the other hand, if you spend more, it penalizes you which is also a plus for your savings.
All you need to do is open free savings account through Qapital. You don’t have to worry about it because the account is FDIC-insured. After that, create a savings goal and a trigger for your automatic savings. Lastly, link your bank account so that you can easily transfer money every time the rules and triggers are activated. Qapital is available for both iOS and Android users.
Halfdollar is an interactive budgeting app that touts itself as a budgeting app for “couples, individuals and businesses.” That’s because you can input multiple sources of income you have no matter how much the amount is. Aside from that, it allows you to easily track down your expenses in different areas every month.
There are two things that make Halfdollar great, its easy-to-use interface which is ideal for those who simply want to manage their money without the frills and it is forever free to use.
Digit is an iOS and Android app which you can link to your bank account like most other budget apps. But what makes Digit exceptional is that once you link it to your savings or checking account, it studies your spending habits as well as your income history to predict your cash flow. Then, it looks for opportunities for you to save your money daily.
It also sets aside some of your money that you don’t really need or use for your day to day expenses without you noticing it. Savings are then put directly into your FDIC-insured Digit account. After that, it sends you an SMS message to inform you how much money you’ve saved. If you want to withdraw money from your Digit account, just send them an SMS message and it will be transferred to your bank.
How many subscriptions have you been paying without knowing it? That won’t be a problem anymore with Truebill, an app that tracks and cancels all the paid subscriptions you are not using. It uses a sophisticated algorithm to track down all the usage data. In terms of security, the app uses 256-SSL encryption to ensure that your account is highly secured.
According to the app’s website, their average user saves as much as $500 after Truebill cancels all these unnecessary subscriptions. That’s a lot of savings from your subscriptions alone. Truebill is available on both iOS and Android.
Budgt is an iOS budgeting app that makes it easier for you to manage your money on a daily basis. It makes budget adjustments on how much money you have left for your monthly budget. It tells you how much you can afford to spend during the month.
Budgt lets you see the bigger picture of your finances as well as the breakdown so you know where you’re spending the most and whether you are losing or saving money. The app is protected with a codelock only you know so that your finances are protected from other people even when you lose your phone.
Spendee is an iOS and Android budget app that gives people a flexible option whether they want to connect to their bank or not. That means if you are not comfortable with connecting your bank with Spendee, you have a choice. The only downside is that you have to input everything manually since it is not connected to your bank account. On the other hand, the data is more accurate since you personally track your money.
Create multiple wallets and sync accounts with your spouse in order to track your finances together. It supports all currencies making it easier for you to track your finances even when you’re traveling abroad.
Prosper Daily is a budget app that allows you to create and view multiple accounts in one place. You can view your credit score from it as well as optimize your money. It has spending analytics that allows you to see which area you are spending the most on allowing you to plan your budget wiser.
It alerts you immediately if unauthorized or fraudulent charges are made in your account. In fact, the app has already identified $75 billion worth of suspicious charges. Prosper Daily is available on both iOS and Android devices.
Pennies is one of the simplest budget apps out there for iOS users. Don’t expect any frilly features like diagrams, charts and graphs, but a straight-to-the-point budget app which allows you track your money using a color-coded indicator. It easily lets you transfer money when you need it between budgets. It also tracks your payday and updates the app once you receive your salary. It also considers holidays and weekends when creating the budget for you.
What’s noteworthy about Pennies is that it tells you exactly how your spending habit today will affect your budget tomorrow. This makes you think twice before spending your precious money. Aside from that, Pennies is also compatible with major currencies worldwide.
These budget apps are great tools to help you save and track your finances. However, these tools are useless without the discipline and the will to make your finances healthier. More so, it is also advisable to take small steps building your financial self-control until it becomes a natural thing to do.