Tracking our finances is one difficult task, and is one of the most common reasons why many people neglect to do it. Fortunately, in this day and age, you don’t have to do it manually anymore. Here are the 5 best apps that should help you budget your money.
- You Need a Budget
You Need a Budget is actually a desktop software with iOS and Android Smartphone integration which you can use when you’re out and about. With You Need a Budget, you can divide your income into several “pots” that correspond to your specific expenses, such as food, rent, etc. Overspending or underspending in a certain pot allows you to move money into another pot. You Need a Budget costs around £3.50 a month or £35 a year.
Originally known as the Easy Envelope Budget Aid, this app is similar to You Need a Budget, but instead of pots, you’ll actually be using envelopes to divide your cash.
With Goodbudget, you can track your bank balances and expenses. Your envelopes and balances can be synced across several platforms and you can also share them with other people. While Goodbudget can be enjoyed for free, the “Plus” version offers more features at £3.50 a month.
Acquired by financial website MoneySuperMarket in 2014, OnTrees allows you to view your bank accounts all in one place, an outstanding feature that often compares it as UK’s version of ‘Mint’. Unlike the other two apps above, OnTrees is more focused on tracking where your money has gone. OnTrees is a free app that is available for desktop and iOS.
One of the most popular financial apps, Wally claims to offer a ‘360 degree’ view of your money, which lets you track what goes in, what goes out, what you have budgeted, and what you have saved. Some cool features of Wally include the ability to photograph your receipts and location based service.
- Money Dashboard
Similar to OnTrees, Money Dashboard
lets you see all of your bank accounts in one place. While this may bother a lot of users, the app is actually read-only (like OnTrees), so that you cannot actually perform bank transactions such as money transfers within the app.
After linking all of your accounts to Money Dashboard, your transactions will be categorised into various tags that lets you have a clearer view of how, when, and where you are spending your money. The app is free and is available for both iOS and Android.