Fortunately, there are convenient mobile apps that will help you get a handle on your finances without demanding that you take too much time out of your busy schedule. Here are eight of them that you may find useful:
Mint
Mint is a budgeting program that connects with your bank accounts to incorporate your data without your having to manually enter everything yourself. Break your budget down into categories, and then observe, in real time, how your expenditures line up with your projections. As you near the limit in a specific area, that category will change color as a warning.
Expensify
You can scan in your receipts using the Expensify interface and keep a copy of them without storing myriad pieces of paper. Now you won’t mysteriously find out that you spent $100 with no recollection of what you bought. Compare your daily income against your expenditures to see where you can make improvements.
Credit.com
Credit can be a powerful tool for financial independence, but it’s easy to become overwhelmed by taking on too much ill-considered debt. The app from Credit.com will give you information on your credit, including a free credit score, and educate you on the impact that major financial decisions can have on it. You’ll receive free, individually tailored advice from experts based upon your current credit report.
BillGuard
Protect yourself from unauthorized transactions with the free BillGuard app, which interfaces with your bank and credit card accounts. Every purchase you make with your cards will show up for your review, and you’ll be able to tag any of them that appear suspicious. With the payment of an annual fee of $83.88, you’ll unlock additional protections, like credit monitoring and identity theft insurance.
Fudget
This list-based app requires you to enter your relevant financial information manually, but it’s great for those who love spartan, to-the-point displays. It’s ideal if you’re looking to track a few key costs but don’t wish to get involved in setting up and managing a more complicated piece of software.
mvelopes
Putting money in envelopes labeled for specific, recurring expenses and only spending from the appropriate envelope is an old-school way of doing things, but it can be surprisingly effective. With mvelopes, this tried-and-true method of budgeting enters the digital era. It links to your bank accounts to import your transactions, but you can also enter figures manually.
Pocket Expense
Instead of creating a budget first and then trying to spend within it, Pocket Expense lets you do everything in reverse order. Once you enter your expenses and carefully go over them, you’ll be able to more accurately set up your budgetary levels. Group your purchases by color-coded categories to gain a firmer grasp on what you’re actually spending your money on.
Goodbudget
Goodbudget uses an envelope-based system similar to that employed by mvelopes. This app is popular among freelancers and others with variable streams of income and expenses because it allows them to set up irregular envelopes that don’t appear every single month. It saves your history for one year, but you can upgrade to the Pro version by paying $45 annually to keep a five-year history and access the app from up to five separate devices.
Smartphones are indispensable modern tools for communication and entertainment, but they can also be instrumental in your financial life. Download and install powerful apps so that you can act as the master of your own budgets, spending levels and overall economic well-being.
Maricel Tabalba is a freelance contributor for Credit.com who is interested in writing about personal finance advice for Millennials and college students. She earned her Bachelor of Arts in English with a minor in Communication from the University of Illinois at Chicago.
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