Managing personal finances and keeping spending in check can be daunting in today’s world. Luckily, several mobile apps on the market have changed the way that we can approach finance. They are convenient tools that allow users to track their expenses, easily create monthly budgets, and monitor individual financial goals.
In this article, we’ll explore the best five mobile apps that will get your spending under control and help you save money for the future. In our experience, these apps provide enough resources to help spenders become more diligent with their money.
1. Mint
Mint is one of the best mobile apps on the market that can help get your spending under control.
It’s a popular personal finance option that allows you to track your expenses, create budgets, and monitor budgetary goals. When you use Mint, you’ll link your various financial accounts, providing you with an overview of your finances all in one place.
One of the app’s key features is its ability to securely connect to your bank accounts, credit cards, loans, and other financial institutions. They’re owned by Intuit—the same people behind TurboTax, Credit Karma, and Mailchimp.
By linking your various accounts, Mint can automatically track and categorize your transactions, giving you an overview of your income and expenses in real-time. This entirely automated process saves you a great deal of time and effort since you won’t have to manually input your financial details.
The app also provides visual representations of your budget progress, making it easy to see how much you’ve spent and how much you have left for each of your chosen categories. For instance, you’ll be able to selectively see how much you’ve spent on eating out, food delivery, coffee, or clothing. This can easily help you to stick to your budget.
Mint can also send you reminders to pay your bills and schedule autopayments across platforms. It’s our top choice because it’s really an all-in-one application.
2. YNAB
YNAB is another great financial app that you might want to try out if you want to budget successfully. The app’s name stands for “You Need a Budget” and is used to help individuals and households gain control over their finances. It uses something known as the “Four Rules” to help users allocate their income in an informed way.
The app has been around since 2004 and was listed by Wirecutter and Lifehacker as one of the best personal finance software options.
The app encourages you to assign every dollar you make to a purpose. This means you’ll create extensive categories for every place your money goes, from shopping to savings to groceries.
You’ll also be able to plan for the future with YNAB. It helps you budget for long-term or periodic expenses like car payments, college funds, or subscriptions. We should mention that YNAB functions strictly as a budgeting tool.
Pricing starts at $8.25 if you opt for an annual payment upfront, or $14.99 if you prefer to pay monthly. Thankfully, they offer an extensive 34-day free trial.
3. Wally
Wally is another great financial app you might be interested in testing out. It is designed to help users track their expenses and improve their financial management. It’s available for iOS and Android devices and offers several different features.
One of the key features of the app is its intuitive expense-tracking capabilities. Users can manually enter their expenses, such as dining out and groceries, and add notes to these expenses. It also allows you to scan receipts to upload expenses, making it easy to keep track of every penny you spend.
The app is capable of categorizing all your purchases into different categories, providing you with an interesting and clear breakdown of your expenses across categories. You’ll know, with a glance, where exactly your money is going.
Perhaps shockingly, the app is presented as the world’s first GPT-Powered finance app. WallyGPT can talk to you about your finances, and automate many processes you would otherwise have to manually handle yourself.
4. Goodbudget
Goodbudget is another fantastic application that allows you to track your expenses. It enables users to set up their budgets and allocate money to the respective areas. If there is an unexpected expense, users can record that as well, deducting it from the amount they’ve allocated to that area.
Goodbudget is known for its easy-to-use interface and the clarity of its layout. It’s quite easy to navigate the app, allowing you to stay informed about how your expenses are changing from month to month. This can be quite helpful for households where individuals want to coordinate their spending and track their budgets together.
The app is also capable of providing reports and insights into your spending patterns. You can analyze your expenses across various time frames, allowing you to identify areas where you may need to reduce spending.
5. PocketGuard
PocketGuard is another great way to take control of your finances. It’s a mobile app that makes expense tracking and budgeting easy. One of its most important features is its ability to track all your finances, from credit cards to bank accounts, in one place. This way, there’s no need to manually input expenses.
The app categorizes your transactions into different spending categories, such as groceries, dining out, transportation, and entertainment, allowing you to see exactly where your money is being spent and areas where you may need to cut back.
Take Control of Your Finances
Comprehensive budgeting app or intuitive expense tracker—all of these apps offer a wide range of features that are designed to enhance financial management, while also promoting a healthy relationship with money.
From Mint to YNAB and PocketGuard to Goodbudget, any of these five apps on our list are sure to help you get your spending under control while saving for the future.