Managing your finances can be challenging. Now that payments are increasingly made through a credit card and cash flows in cash are less and less, it becomes easy to track income and expenses. However, the world of technology did not leave us without a solution even here.
Personal finance apps can connect to your bank account and help you manage your expenses. Apps like these can help you identify areas you’ve spent, keep track of upcoming bill payments (some allow you to pay bills directly through the app), and keep track of your credit score and investment portfolio.
A couple of years ago, Statista published data that 17 percent of Americans were using at least one stand-alone budgeting app. Today the quantity and quality of applications for the personal budget have increased. Let’s take a look at the best ones.
1. YNAB
You Need a Budget offers the ability to sync your bank accounts, import your data from a file, or manually enter each transaction. To work more effectively with the application, the company will first show you a video course and a detailed guide.
With YNAB, you create a kind of proactive approach to budgeting rather than keeping track of what you’ve already spent. Once registered, you make your first budget and assign each dollar a goal, such as renting or paying for a car.
2. PocketGuard
This application has simple navigation and a user-friendly interface. Unlike many similar apps, PocketGuard has an overview of your finances, information on expenses by category, the ability to track money transactions, and other valuable tools. Forbes writes that PocketGuard is designed for consumers looking to control their spending better and save more money every month.
3. Mint
Mint is perhaps one of the most famous free personal finance apps. You can sync your financial accounts in the app or manually add transactions. In the Mint app, you can see all your accounts in one place and track your spending every day.
The app automatically organizes your expenses so you can see the totals by category at a glance. Mint also offers monthly invoice tracking, including payment reminders to avoid late payment penalties. Here you can also try to create and monitor your investments.
4. Personal Capital
Personal Capital is a personal finance and wealth management application that allows you to keep track of your assets and investments along with your day-to-day expenses. You can connect to your bank account to track the costs and create a monthly budget.
The app helps you track and optimize your investments. You can track your portfolio by performance, asset class, or individual security. With built-in analytics available on the tablet and mobile versions of the app, you can unlock opportunities for diversification, manage risk, and uncover any hidden fees you might be paying.
5. Spendee
The advantage of Spendee is that it allows you to create shared wallets with friends and family, which you can use to manage shared expenses for your household budget. You can manually add cash expenses to get a more accurate idea of where your money is going.
The invoice tracking feature ensures you don’t forget to pay each of your bills and avoid late payment penalties. If you’re going on a trip or other special event, you can create a category specifically for that event to keep track of your expenses and stay on budget.
Why do you need a mobile finance app?
Once you download the budgeting app on your mobile device, tablet, or computer, it helps you keep track of your money. Essential budgeting apps show you how much you earn and categorize your expenses to see where and how much you are spending.
Most financial management applications also have additional functions and combined actions. However, if you need your application with unique functions, you can apply to https://mlsdev.com/services/mobile-app-development and order the development of your finance application.
Author’s bio: Anastasiia Lastovetska is a technology writer at MLSDev, a software development company that builds web & mobile app solutions from scratch. She researches the area of technology to create great content about app development, UX/UI design, tech & business consulting.