5 Apps to Help You Keep Track of Your Spending and Saving
When you feel like you have control over your budget and expenses it reduces your stress levels. But if you don’t have a money-management system or it involves digging through piles of receipts, it may be time to find a better way. These apps will help you reduce paper clutter as well as give you a better understanding of your daily, weekly, monthly and annual spending habits.
- GoodBudget – Free – Available for iOS and Android
If you’re ready to get started budgeting, this is a great app for you. The envelope system used in this app allows you to allocate amounts of cash to put aside for your expenses each month.
Use the Envelopes to distribute your monthly payments and get a better understanding of your spending habits. For recurring budget items, you can select the date for payment each month, then select when you want to start.
If your pay schedule varies, the “irregular” option lets you track any spending that isn’t on a specific schedule.
- Pocket Expense – Free – Available for iOS
Pocket Expense tracks your spending first then creates a budget that is more in line with your natural spending habits.
It does not sync with your bank accounts so you will need to manually enter all of your transactions. But, if you have security concerns about linking your accounts, this app is a perfect fit for you. Manually enter your account balances and transactions then Pocket Expense will color code them all for you. You can add as many accounts as you’d like.
- Mint.com – Free – Available for iOS, Android and Windows
Here you will find all the tools you need to manage your income, saving, spending, and budgeting. Mint syncs all your accounts together in one place so you can have everything at your fingertips.
Mint shows your cash flow in real time, including all of your deposits, credit card charges, expenses and investments. It will also keep track of cash transactions if you input them manually.
As an added bonus, Mint will also analyze your spending habits and help you find ways to save.
- BillGuard/Prosper Daily – Free – Available for iOS and Android
BillGuard will help you understand your spending habits as well as protect your credit and debit cards from fraud and unauthorized transactions. First it syncs your bank accounts, then it brings up your total balance and the total amount you spent for the current month.
BillGuard asks you to account for every transaction you make so they can be categorized. If you see a transaction that you don’t recognize, it will allow you to investigate and report it. It also provides great analytics to break down your spending by category.
- Mvelopes – Free – Available for iOS and Android
This app will start you off with a few simple questions to guide you through planning your long-term financial goals. Similar to Mint, Mvelopes works directly with all of your financial institutions to keep track of every transaction.
After syncing your accounts, Mvelopes works similar to GoodBudget, using the envelope system, but it will ask you to create a budget before completing the spending envelopes. This will help you to think more realistically about how much you have coming in and what a reasonable budget looks like for you.