Best Apps to Help You Manage Your Money
Managing money in the current inflation is one of the hardest jobs in the world. It is a skill that everyone needs but it is not something that is taught in school. Eventually, when we step into the real world, our budget gets exhausted on necessities.
To make sure you are using your money the right way, without overspending on luxury items in the name of necessity, budgeting is an essential skill. At the core of money management, you will find tracking money, balancing your account, and paying off your bills. This is where money management apps come in handy.
To make full use of an app, it is better to select a cloud-based app that can keep your data stored and also gets integrated with your account. To download and use money management apps, the first step is to get a good internet and the second step is the willingness to learn about money management.
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Best Apps to Help You Manage Your Money
Generally, most money management apps are boring. The layouts are pretty dry and even if you try to navigate through them, you will find them confusing. These apps will either come with stock investment options or they will offer so many features that someone who is just getting accustomed to budgeting will instantly feel like opting out.
When choosing a good budgeting app, the focus should stay on functionality and user-friendliness. Although as a new user, you will instantly fall for an app that offers you more features, however, with more features, navigation of the app can get quite cumbersome.
For someone who is just stepping into the real world of budgeting, here are some budget planning apps that are super easy to use.
1. Mint
Available on: iOS and android
Pricing: Free
Mint is a very user-friendly all-rounder app. The app has all the basic budgeting features that you can need for tracking your income and expenses. You can also set a reminder for all the bills and the best thing about this app is that it is completely free. Mint also offers a customization feature so you can add certain budgeting categories, prepare invoices and sync them to your bank account as well.
The app is especially popular among freelancers who need to track multiple income streams and client invoices. The only downside of this app is the ads that you will see popping here and there. However, considering that Mint is free for everyone, this little hitch can be ignored.
2. You Need a Budget
Available on: iOS and Android
Pricing: $98.99 annually
As a beginner, you need something simple to navigate and if something goes wrong you need good customer service as well. This is the best overall starter app. As a student or as an adult living alone, if handling your budget is becoming burdensome, this is the only app you will ever need. YNAB comes with account integration so just attach your account and handle your budget on the go.
The app has been designed for future budgeting which means you can plan your whole month ahead or even a year if you want. From setting financial goals to putting money in separate tabs, this app will keep you in check for the long run. The only snag of this app is that it will keep you on your toes with all the reminders. Also, it only comes with 34-days free trial, so you will be paying for the app once the free trial expires.
3. PocketGuard
Available on: iOS and Android
Pricing: Free with limited features
If you are an impulsive buyer, this app will change your life. Most students find it hard to manage their financials. Pocketguard is an exceptional app that will help you become a wise spender. It helps you not only track your income but also your monthly expenses. You can simply set a saving goal for the day or month and track your financial goal.
The Steller feature of this app is that it is free so it is perfect for students with a tight budget. However, you can also upgrade to the beta version with premium features. The only shortcoming is that this app doesn’t come with any support service so you are on your own if anything goes wrong. However, considering that it is free and user-friendly, this small drawback can be ignored.
4. Personal Capital
Available on: iOS and Android
Pricing: Free
As a beginner, if you want to work on wealth building, stocks and investment, this app will be a game changer for you. It is not just a saving app but an investment planning app as well. You can even plan early retirement and side hustle with this app. Personal capital also allows you to track your net worth over time and you can integrate it with your bank accounts as well.
The app comes with multiple features including a retirement plan feature, an education planner tool, net worth tracking, and even fee analysis. Even with so many features, it is completely free and the only downside is that it doesn’t allow you to manually enter anything and focuses less on budgeting.
5. EveryDollar
Available on: iOS and Android
Pricing: Free with limited features
This is one of the bare-bone apps on the list so if you are new to budgeting, this will be your go-to app. You can enter everything manually, and track your saving, income, and expenses. EveryDollar is extremely user-friendly but the only downside is that within its free version you will get very basic features and everything will be manual.
For automated bank integration, you need to upgrade to a premium version. Considering the value of the app, the beta version is pretty expensive so, most people never move to the premium version.
Bottom Line
To sum it up, budgeting is one of the very basic skills that everyone must learn but unfortunately it is never taught. So, as most of us step into adult life we make expensive mistakes all day long. These apps will help you keep track of your wealth so you can save money.
