We recently talked about why a budget is such a great tool to control your finances. That information isn’t as helpful to you without the practical application of creating a budget. There are so many budgeting apps and programs available to you that can help you with this task. Below are some apps that you can download on your computers or phone to help you create your budget. This blog post is not a promotion for any of the apps discussed. This blog is for informational purposes only. I find that creating my budget in Excel is far better for me. A budget is personal, so you will have to find what works best for you.
The list below is in no particular order.
Mint Budgeting App (Free)
As you can see from the picture above, this app is a pretty comprehensive tool. What I like about this app is that it can give you an excellent picture of where you stand financially. You can connect the Mint App to your bank account. By doing this you will be able to track those incidental expenses that we seem never to count, but a dollar here and there throughout the month can add up.
Don’t be too concerned with security when using this app. This app has the same security as your bank. But you MUST apply due diligence nonetheless. Make sure you are checking on your account to ensure that the expenditures you are taking on are your expenses.
Another useful feature of this app is that it will send you alerts to unusual charges. It will also give you tips on how to stay on budget. Mint does include your credit score. I think it is crucial to know this information. You need to know your financial status.
You can get the Mint apps for iPhone, iPad, and Android. By downloading this app, you can see your budget whenever you want to at the push of a button (or a few buttons). There is also a way for you to connect to your account via online access. A feature that I found was quite interesting is the bill pay component. Bill pay will help you manage and pay your bills in one place.
PocketGaurd Budget App (FREE App)
The PocketGaurd budget app also connects to your bank accounts. A feature that lets you connect your account provides you with current transactions and balances.
Take a look at the picture above. You will be able to see figures that will let you know what the spendable amount is currently in your pocket. I will also let you know how much income you have in your account versus how much you have spent. With PocketGaurd you will be able to do financial analyses of your spending to produce a clear picture of your cash flow.
You will get simple charts that are easy to understand and shows you exactly where you are spending your money. A Starbucks coffee here-and-there might not be such an issue. However, this app will let you know for sure if you are buying Starbucks in a way that lets you know if it is truly a problem for your budget. These charts will help you to decide where you can cut back.
You Need a Budget (FREE 34 day Trial)
You Need A Budget (YNAB) app gives you a bit more control. It helps you to create a budget you can follow.
YNAB focuses on four aspects of spending:
- It gives every dollar you have a function or a job to do in your budget
- It helps you to plan for infrequent expenses, like that here-and-there Starbucks Coffee purchase
- It helps you when or if you over spend
- It helps you learn how to live with less financial stress
YNAB provides learning incentives through their app with classes that helps you get started. These classes are a free feature that comes with the service.
This app does come with a charge. You can try it out for 34 days for free on a trial membership. At the end of the trial, you can pay $50 a year of $5 a month. Just like a budgeting company to give you options that will fit into your finances.
Good Budget (FREE with Pay upgrade)
Are you aware of the envelope method to budget your money? Many people have had great success with this method. Good Budget has taken the premise of the envelope method and created an app. You can leave your envelopes at home with this budget app.
This app helps you to sync your budgets across all of your devices from iPhone to Android. In my family, I am an Apple “head,” and my husband is an Android Athlete. With an app like Good Budget, we can both use the same app and the same account. Talk about collaborative budgeting; Good Budget makes it easy for everyone to participate in the family finances.
Good Budget is available on iPhone and Android for free. However, you can obtain a pro subscription for $15 (three-month use) or $24 (for six-month use). Personally, I find their pro subscription rather expensive for the features that you get compared to what you get with some of the other free apps.
Wally is more comparable to an expense tracker than to a budget tracker. Wally will let you let you log your expenses manually or with a picture of your receipt. You will get notifications with this App. This app is useful for students who don’t have a lot of extensive financial considerations.
Level Money (FREE)
Level money helps you stick to your budget. This app is useful for those who frequently overspend during the month. The Level Money app lets you know what you can spend on a daily. It can also help you with a savings plan for big purchases or to pay down your debts.
Bank account connection is also a feature of Level Money. You can create goals for yourself. You can make plans with this app that will help you stick to your goals even without a budget.
I could go on and on about different apps that can help you budget, however, at some point, I will start to become redundant. I think these first six apps can get you started. However, you can also look into these apps if the above apps are not sufficient for you, your budget and your financial goals.
- Spendee free on iPhone and Android
- Budgt $1.99 for theiPhone.
- Unsplurge freeiPhone app.
- Digit Bot free and available foriPhone and Android.
I hope this was helpful information. The research I did for this blog also helped me to look into one of these apps for my personal use.