Everyone has had an instance in their life where they just received their income and in a couple of days they start wondering where all their money went. It is far too easy to lose track of your spending every month.
There are many budgeting apps that can help you not lose track of your money. Budgeting apps make it easier for you to identify exactly where your income is going and how you are spending it. Having more control over your income has so many benefits, budgeting apps let you track spending and even categorize those expenses.
If you are someone that is struggling a bit financially then a budgeting app can help you avoid unnecessary spending, especially when you do not have any extra money. Being able to track your finances is a huge steppingstone in gaining more financial stability. Companies that provide IT services in London recommend budgeting apps to all their clients because it’s the smart way to manage your finances. There are so many budgeting apps, but we have narrowed it down to just a few of the best ones.
1. Mint
Mint comes highly recommended by many people as it has been used the most compared to other budgeting apps. The main reason being that its free and can be linked with various accounts such as checking, savings, credit cards, loans and bills. The app itself is extremely user friendly, this can be seen as soon as you use it. Mint arranges your spending into budget categories for you and if you would like to alter anything you can. You can even go as far as to set a certain spending limit for each category so that you never overspend. Just when you thought the app couldn’t do any more it does, Mint shows its customers their credit score and net worth.
2. You Need a Budget (YNAB)
YNAB is not your basic budgeting app, it has been designed to help its users actually escape their debt. The app actually tells its users that it can help them save $600 within the first two months of using the app and an incredible $6000 after their first year. The app is able to sync with your bank accounts and credit cards to help customize your spending according to what your ambitions are. Of course you are using the app because you have no idea what to do with your money. Well, YNAB has you covered as you receive budgeting advice through a variety of workshops which can be used on a weekly basis. They take their customer service very seriously and show them that they are appreciated through personal customer support. Their security features are world-class as it includes encrypted data, accredited data centres and third-party edits. This is a paid app but if you would like to give it a try then there is a free 34 day trial.
3. Goodbudget
If you are looking for a more personalized experience then Goodbudget is right for you. This app is more focused on your future rather than your past. This experience is a lot more personalised because you have to add your bank accounts manually. Your debts and income are not measured by the app. You are in control of everything, and you can allocate money wherever you like as you create different categories. Goodbudget is free, and you can use it on both your phone or via the web.
4. PocketGuard
When it comes to simplicity with budgeting apps there isn’t many that can compete with PocketGuard. This app lets you connect your bank accounts, credit cards, loans and investments to it. Through linking them the app determines what are your necessities and how to spend your income more wisely. There is no app that does as much as PocketGuard does for its customers you never have to plan your budget. The app goes as far as tracking your net worth to provide a greater breakdown of your spending. If you would still like the more hands-on experience then it caters for that as well. You have the options of whether or not you would like to link your accounts, if you choose not to then you can track your finances manually.
Read Also: Budgeting Tips for Lower-income Seniors
