Best Budgeting Apps and Tools To Take Back Control of Your Money.
There are a variety of ways to budget your income and expenses on your smartphone. Find a summary and review of them below. These budgeting tolols can also help low to moderate income families, as it is important to have a robust, easy to use app on your phone for monitoring your spending and income, which are the foundations of a budget.
As after all, instead of sleeping in each day, spending time with your kids, or enjoying your day off, you make personal sacrifices and go to work day after day to earn a paycheck. Wouldn’t it be better if you budgeting your income and expenses to make it worthwhile?
Many Americans try their best but are horrible at budgeting and living within their means. Many work hard then realize that they are still short on rent. Or they do not have enough money for the bills or even afford a vacation abroad. Where did all of your hard- earned money go?
Regardless of your paycheck amount, a budget app (which are easy to use) could be the simple solution to your restless thoughts, spending habits, and it will solve some of those financial mysteries. Maybe it will help you live within your means and a more “simple” life. After all, setting a budgeting is very importnant for low income families and those who live check to check.
Do you have a costly cable plan? Overspending money on things you do not need? An app that is used for budging allows you to rethink your spending habits and will help you to prepare for unexpected emergencies, retirement, paying off debt and reaching your financial goals. The apps are critical, yet free and easy to use.
Traditionally, budgeting often means having a pen, paper, calculator and extra time to track your expense. Gone are those days. Now it is simpler. Smartphones are part of daily lives and creating a budget is effortless using an app or a related technology tool.
There are many Android and iOS apps budgeting apps and tools that makes managing money, sticking to a budget and monitoring spending a lot easier. Not all of these apps and tools are worth downloading. Find one that best fits your approach to manage money.
Best apps for budgeting
A personal finance and money management app with over 15 million users. It is free to use and easy to get started.
Mint works by connecting with any US financial institution and the internet. It can be used with major lenders such as Bank of America, Citi, Chase and others. Within seconds you will be able to see where your money is going and your spending habits. This is critical to mamaing your bills, and find a list of other programs and how to get out of debt.
Some basic financial advice is given too. Users can get ideas on how to make your money stretch farther and recommendations on saving accounts based on your financial goals and lifestyle. Mint has a very easy-to-use interface, and your financial data automatically gets updated.
•Bill Tracking: Stay on top of all your bills payments, save time and say goodbye to late fees. Mint will send reminders to your email or mobile phone, so you can plan ahead and never have a missed payment. This is an excellent feature if you are trying to improve your credit score. You will also be informed on suspicious activities and warnings on low funds- so you can accept those overtime hours and find gigs to make extra money.
•Easy Budgeting: Mint will analyze and calculate your spending by category. You will be able to see how much you are spending on shopping, groceries, electronics, rent, food, ATM cash withdrawals, medications, and other spending activities. Mint easy budgeting feature will help you to meet financial goals by cutting back on any category in where you are overspending.
•Free Credit Score: Is your credit score is preventing you from getting a loan, credit card, insurance or renting your dream apartment? Mint offers free credit report summary within minutes to know where you stand, explanation and suggestions on improving your credit score and free monitoring alerts.
•Weekly personalized alerts and advice: With mint, you will receive weekly summary of your spending habits to understand where your money went. It allows you to have visibility so you can start to save money on bills.
•Simple Categorization: Unlike bank statements that list activities as "C0245 GBH CA" $30.25, Mint uses plain English and will automatically suggest the right category for your spending. There are hundreds of default categories, and you are also able to rename or re-categorize any transaction, which will apply to all future charges.
YNAB (You Need A Budget)
A personal budgeting software for iOS, Android, Windows, and Mac. YNAB was created by two married college couples with a meager income. They used the tool to help them pay off debt, saved their marriage, eliminated stress and rediscovered peaceful sleep. YNAB is available for a free 34-day trial then a small fee per month.
•Paying off debts
•Achieving long-term financial goals
•Bank Syncing: Connect all of your accounts and cards to increase awareness of your monthly spending and expenses.
•On the Go: It is simple and easy to access real-time info from any devices, and you can also share finances with a partner.
•Debt Paydown: Sure, life can become uncomfortable with limited food, electricity, and shelter, However being debt-free without financial obligations such as loan payments is fantastically freeing. After all paying down debt is the first step to financial freedom. This means better credit score for loans, credit cards, low car insurance rates and for potential landlords. Your savings will also increase from not paying interest fees and debt payments. YNAB offers tools and will help teach financial literacy. In addition, find other car title loan help.
•Goal Tracking: Whether if your goal is to repair your home, go back to school, or a dream trip to Hawaii, budgeting becomes irresistible and motivating with goals. YNAB offers five different goal-tracking features, three for spending categories and two for Credit Card Payments.
•Personal Support: YNAB offers unlimited support with help from the community, weekly newsletter, podcasts, weekly videos and help-docs for technical questions.
A free money and budgeting app that sync all of your accounts, including bank accounts, credit cards, loans, savings and investments in one place. The free app lets you know where you stand and how much money you can safely spend once your bills and expenses are paid. Pocketguard is free to all users, with a minimal monthly and yearly cost for the paid version. In addition, there are other investment apps for low income families.
•Those looking to lower their bills
•Net worth tracking
•Automatic spending limits (which is great for low income families)
•Bill tracking and recurring subscriptions
•Recurring Income: Pocketguard will automatically calculate your regular income. For most people, this may include paycheck, pension, self-employment earnings, side gig jobs, rental income and/or alimony.
•Bills Tracking: Setting up recurring bills on PocketGuard will carve out funds from your income every month to ensure your bills are covered before spending money on non-essentials purchases. Bill payments may include, utility bills, cell phone bills, mortgage/rent, credit card & loan payments, insurance and membership/subscription fees (gym, Netflix, etc.).
•Spending Limits: Pocketguard allows you to set a spending limit if you would like to cut back on a specific kind of expense such as shopping and eating out.
•Savings Goal: Creating a savings goal on PocketGuard is simple and it starts every month.
PocketGuard Plus (paid version feature) Adding customized categories: Pocketguard paid version allows members to add additional and customized categories such as charity donations, parking, gas, pets and hobbies expenses. Emojis are also available with icons to match your category.
•Cash transactions: With Pocketguard plus, you can manually add and adjust cash spending, ATM withdrawals and the ability to edit and delete transactions.
•Cash Bills: This feature is useful if you pay your bills and rent in cash.
A financial service with a team of human experts that provides guidance and answers questions. The app and technology based company tries to resolve the most complex financial questions. As a result of this, the Albert app offers a more human touch to budgeting and financial advice. This app works by using algorithms to analyze your income, expenses and it automatically set aside money for savings or investments, including for a retirement account. The first month of using Albert is free then a few dollars per month for operational costs.
•People with financial questions.
•Motivation to save
•Overview & Budgeting
•Genius Team: Albert has a team of financial experts that can help with all of your financial needs, such as paying off debt, improving score, building wealth, setting up insurance and/ or investment accounts.
•Intelligent spending alerts: You will receive text messages if you are over your budget or overpaying for a service. In addition to that, you will also receive suggestions on lowering your bills.
•Smart Savings: Create a savings goal on Albert then earn 1.00% annual bonus of free money.
A home budget app that is available on the web, iOS and Android app. GoodBudget is a software based on 'enveloping method', which means you can digitally set aside money for groceries, rent, eating out, date nights etc. Goodbudget free version comes with 10 regular envelops on two devices and the paid version is $6 per month or $50 per year for unlimited envelops, accounts, up to five accounts and email support.
•Sharing household expense
•Budget planner: Plan and save in advance for big expenses such as family vacations, a new car or home. The GoodBudget planner makes it easy and organize to save money and keeping track of expenses, which is critical for families living check to check..
•Budget Sharing: Sync your expense sheet your spouse and/or other family members to split household expenses.
•Envelop Budgeting System: This feature makes it easy for families/couples to compartmentalize daily, monthly and yearly expenses and allows you to spend money within your budget.
Debt Tracker is one of the top-rated personal finance apps for iOS and Androi and it has been downloaded hundreds of thousands of times. It offers a free, easy way to track your debt and get ahead of it before it gets out of hand. Track car payment loans, credit cards, medical bills, even personal loans and/or debts with this free applications.
The app connects to your bank account and desktop or laptop computer to show you how much you have paid, what categories of debt you have, when payments are due, where the money is going, and what interest rates are on your various loans. Debt Tracker automates the process.
Every push notification from Debt Tracker Pro tells you how much time until your next payment is due so that you know when to make a big purchase or save up for a big trip. It also offers budgeting tools so that you can figure out how much money you'll need in retirement, as well as financial wellness checklists with tips.