In the globalised world of today, the consumer faces a peculiar problem: there are lots of product choices that are waiting to take our money away. In such a situation, it becomes important for us to be wise with the way we spend our money. There were days when people used diaries for doing this, but luckily, now we have apps for that. There are a number of apps that could help you manage your personal finances quite efficiently, and they’re free. Here is a list of some great money-managing apps.
Mint
Mint has been the gold standard for budgeting tools for some time, and the app takes the top spot here for a few reasons: It automatically updates and categorizes transactions, creating a picture of spending in real-time. Users can add their own categories, track bills, split transactions and set budgets that alert them when they’re exceeding their maximum spending threshold. The service also provides free credit scores and credit score monitoring.
YNAB
YNAB is for the committed user, no doubt. It’s based on the zero-based budgeting system, and users must make a plan for every dollar they earn. It requires a financial investment after a 34-day free trial. (Students who provide proof of enrollment get an additional 12 months free.) Those who pay this price can benefit from YNAB’s many features. You can connect bank accounts, set goals, contribute to savings and customize spending categories. You can also access resources, like app user guides, budgeting advice and free workshops.
PocketGuard
PocketGuard boils budgeting down to the only thing many users want to know: how much they have for spending. It crunches the numbers to show how much money is available after accounting for bills, spending and savings goal contributions. All users can view how much money is left “in my pocket” for the day, week or month. Those who want to dial down further can track certain categories of spending ” like groceries, clothing or eating out.
Clarity Money
Clarity Money is a comprehensive budgeting and saving app. Users can link financial accounts from thousands of institutions, organize expenses, track spending and bucket their spending into different categories. There are other features, too, like subscription canceling and credit score monitoring, which provide a more inclusive financial picture beyond just transactions.
Every Dollar
EveryDollar is a budgeting app that helps users track their spending and plan for purchases. It’s tailored for zero-based budgeting, which is a method where your expenses equal your income. With the free version of the app, users can create a transaction each time they spend money to account for it in their budget. Or, for a more streamlined experience, upgrade to EveryDollar Plus to connect your bank account and expenses.
