Keeping track of expenses is a crucial step in managing personal finance. Only when a person is aware of where their hard-earned money is going, is it possible to set up budgets and add to savings. While one can choose to track their expenses with the good old way of using notebooks, expense tracking apps make the job easier. Any popular expense tracker app can be installed to keep tabs on expenses on the go.
EveryDollar
This is one of the top budgeting apps to manage expenses and personal finances. It has several features that help users to create customized budgets and reports for accurate expense tracking. EveryDollar has a free plan with limited features like a savings fund and custom budgeting. Other features, such as bank connectivity, budget reports, and goal setting, are available only with the premium plan. Additionally, the app gives access to group financial coaching. The premium version has a 14-day trial period, after which it costs around $18 per month.
YNAB
You Need a Budget or YNAB is a reliable and versatile personal finance app. It offers several features to track a person’s expenses through bank transactions that are directly imported to the app. Along with this, the app has capabilities to provide expense charts that are user-friendly and easy to read for checking where exactly all the money is going. It offers a wide range of features for tracking one’s spending through imported bank transactions and offers easy expense charts to help one see where their money is going. All these features make it a suitable tool for keeping track of basic spending habits on a day-to-day basis. Another great advantage of this app is that it has a subscription-sharing feature that allows it to be shared with friends and family, with a maximum number of people being 6. Plus, it has a loan planner tool that can help with the calculation and management of debt. The app is available for free for about 34 days. Then its cost is around $15 per month.
Simplifi
With its robust expense-tracking features, Simplify is one of the top expense management apps. It is a versatile tool for those who are looking for ways to create customized personal budgets for their everyday use. Simplifi takes things beyond standard budgeting through customized reports of savings and spendings. It has an easy-to-use dashboard that feels quite intuitive while navigating the app. Besides, it can quickly integrate with a user’s bank accounts and credit cards for seamless translation imports. Another notable feature of this app is real-time spending alerts that are sent every time money gets deducted from the bank account or a credit card is swiped. The app costs around $4 per month. There is no free trial available, but users can avail of a complete refund within 30 days of use.
Rocket Money
When looking at financial tracking apps, Rocket Money is a good option to consider. It is one of the top apps for personal finance management. Some of its unique features include looking for an user’s unused subscriptions and canceling them. This is a useful step in curbing unnecessary expenses and increasing one’s savings. The higher-paid planes offer services that can negotiate the bill rates on recurring payments. Along with this, it sends scheduled reminders through its notification system to bank alerts and important bill payment dates. Notifications for upcoming renewals and other expense events are also sent by the app. A free account is available for basic expense tracking. Along with this, users can opt for a premium subscription, which can cost between $4/month and $12/month.
Goodbudget
For those who are just starting out to get their finances in order, Goodbudget is a useful budgeting tool to have. The app uses a digital envelope budgeting method. This way, one’s money is divided into several different categories of spending. Each category has its own envelope. With this, users can track their expenses and see the various types of expenses and how much of their income goes into each type. This can be quite effective in saving some substantial money on a monthly basis and also in keeping track of debt. The app is free to use for 20 envelopes. For unlimited envelope usage, a user must pay around $10 per month or $80 per year.
PocketGuard
This is one of the top money management apps that has been specifically designed to prevent a user from overspending. The app has a built-in notification system that sends alerts to the user whenever any of the spending categories start to go over the limit, giving one a better idea of how much one can afford to take on. This gives a fairly good idea about how much expenses the user can really take on. A free version of the app is viable for those who are not keen to send additional money. But users looking for a premium experience can opt for the paid version which costs around $12.99 per month or $74.99 per year. The notable features of the app include automatic linking to bank accounts and credit cards and the ability to modify the expense categories according to user preferences.