Managing your income and expenses can be overwhelming, especially if you have a variety of bills and sources of income coming in on different dates. However, any struggling self-financier can be comforted by the five most blessed words of the 21st century: “There’s an app for that.” Here is a list of the best money management apps that can organize your life and save you some unnecessary stress.
This app is widely used and has enjoyed high reviews from users with a variety of incomes. It allows you to manage your income and spending so that you save more successfully by more consciously following a budget. It can sync up all of your accounts from bank accounts and mutual funds to 401(k) or IRA accounts, allowing you to get a comprehensive look at your budgetary needs.
Mint sends you updates that remind you of past transactions and show you how you’ve been using your accounts. You can also see overviews of your account totals, monthly budget, credit score (you can get one free with your sign up), categories of spending, and alerts regarding when you went over budget. It can also tell you when your balance is dangerously low, a marker which you can set to your personal taste.
Basically, Mint logs your cash flow in real time and even analyzes your spending habits, allowing you to take note of areas where you can potentially save more money.
This app is slightly less comprehensive than Mint, but great for people who simply want to create a budget based on their cash flow and attribute certain amounts of money to certain categories.
Spending areas are separated into different “envelopes” which the user can create to his or her personal taste. Recurring budgets can be monthly, weekly, semi-monthly or biweekly based on personalized starting dates. The app is said to be optimal for people whose pay schedules vary. Freelancers and the like can opt into the “irregular” option that allows less routine spending to be tracked accordingly.
Ideal for vacationers splitting funds, the Expense Manager app allows users to add expenses and fill in details about the amount, payee and payment category. Pre-written vendors and category terms can be selected for easy set-up. Expense Manager also has an “auto fill” feature for even easier inputs; terms for commonly used expenses like “gas” and “eating out” can be only a tap or two away.
That’s not all for this app’s bells and whistles; it also has multiple account support, photo-storing capability, and home screen widgets.
Some complaints have been made regarding the app’s design, but functions can be googled and found if the user has any trouble. In addition, the app is free assuming the user is open to it being ad supported. It’s only $5.00 without ads, which may be a worthy expenditure for those who find ads a headache.
So there you have it, there truly are ways to organize your finances and keep track of where you’re spending and how you can save.