Losing money without realizing has become a common phenomenon amongst most of the people. Almost everybody claims that when monthly paycheck arrives, it hardly stays in the pocket. There is no other option to keep money in the pocket because your insurance needs to be paid, groceries, gas need to buy, debts need to be settled, and many more other expenses. Money has to go and it leaves you totally oblivious about where it actually goes.
But, there are some people who can manage their paychecks outstandingly without making any extra effort. They can even save money from their paycheck. How do they make it happen? The answer is, with the help of a “personal budget”.
The word “budget” has some magical power that can bring positive changes in your financial life. Yes, following a budget can be tough as it requires some restriction. But, its benefits are numerous and can bring huge differences in your personal finance.
Remember, budgeting is the only option for you when you’re struggling with your paycheck and “saving money” becomes a rare stone to find.
If you think, budgeting means going back to the old school days, doing maths and table all day, then you’re certainly not aware of some intelligent apps, which can do all the task on your behalf. With the help of these apps, you can manage your money in a better way and can stay on top of your finances.
I have compiled some budgeting apps that are free to use and also some apps that are paid. You can choose as per your affordability. These apps are absolutely easy to use and can fit well in your devices like Android, iPhone, and desktop.
5 Free budgeting apps
1. Mint
Mint is an Android, iOS app and perhaps the most popular budgeting app in the market. This software is free for the users and easy to get started. Mint helps you to create a personalized budget and also allows to connect with your bank accounts. It’s a web-based tool that automatically tracks your spending, savings and also alerts you when you’re close to your budget limit. The total system is easy to understand and follow. This budgeting app has many features such as intuitive graphs, charts, and security functions. It also helps to improve your credit score while you focus on your finances.
2. Buxfer
Buxfer is also a free budgeting software and helps you to manage all your accounts in one place. If you follow this app, then it’ll help you to track your money and manage it accordingly. It allows you to tag, which helps to manage the expenses in a better way. Using the tags, you can set weekly, monthly and yearly spending limits. You can manually upload your account on your personal computer. It uses advanced 256-bit encryption to protect your account. You can use its advanced graphics as well.
3. Wally
Wally is an android app, which is simple to understand and use. It helps you keep track your income, spending, and savings easily. You can simplify your monthly budgeting with the help of this software. This app is also free for users.
4. Digit
If you are struggling with money and not doing well with your budget, then this app will be your right pick. This app connects to your bank accounts and evaluates your income and spending to find out ways to set aside some amount of money into your savings account. This app is helpful and free to use and motivates you to save money.
5. Money well
This app is a perfect fit for iPad and comes with Mac software. If you’re accustomed to Mac software, then you can easily use this app to experience better money management and budgeting. This app will help you to manage your accounts and financial activities. The app will review your paycheck and help you to spend within your budget. The app provides a synopsis of your last 12 months spending and income.
3 Paid budgeting apps
1. You need a budget (YNAB)
YNAB comes to mobile for free. But, if you use YNAB for your desktop, then you’ll get a free trial for 34 days and have to pay $60 for a one-time purchase. The app is very helpful for beginners. It gives you the lesson on budgeting and encourage you to execute it in your financial life. This app has cloud syncing feature that helps to keep you up-to-date. With the help of this app, you can easily pay off your financial obligations. This app supports all currencies in the world and gives you a smooth budgeting experience.
2. Quicken
This app has three versions such as Starter Edition ($39.99), Deluxe ($74.99), and Premier ($104.99). With the help of this app, you can easily see all your money in one place. It helps to create a realistic budget and sync your data and financial transactions. It has a program that helps you to get your credit score as well.
3. Spendbook
Spendbook costs $1.99. It comes with some easy to use features to help the users. You can easily track your expenses, add pictures of items you purchased, receipts and so on. You can also categorize your income sources and expenses. It helps you to get a daily or monthly overview of your expenses.
Once you get paid, you have to set aside some amount of money in your savings account. This is quite a tough work, but when you’re treating it like other bills that need to be paid anyhow, then you can make it happen. Paying yourself first is hard as long as you're doing this manually. It becomes easier when the app will do the task on your behalf. With the right app, many more tasks will be easily done. So, don’t wait, get a suitable app and with a few taps of your finger you can get a grip back on your finances.
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