Top 4 Budgeting Apps to Manage Your Money
Do you wish to achieve your financial goals with high accuracy?
Are you looking for some of the best budgeting apps to help you manage money digitally? You have certainly landed on the right webpage. We listed the four best budgeting apps you can use to achieve all your targets in time.
Four Best Budgeting Apps
1. Mint: Budget Tracker and Planner
With over 20 million users, Mint is the choice of millennials. It is entirely free. Intuit–a is behind it.
Using Mint, you can link all your accounts, such as Cash Accounts, Credit Cards, investments, bills, loans, etc. It allows you to control your finances, and you plan better personal finance strategies.
A complete portfolio view allows determine whether you have met the asset allocation targets.
Mint presents you with all the financial information lucidly in visually appealing, informative, and attractive charts and graphs.
It also organizes your money and even prepares an ideal budget for you.
This app regularly checks your credit score and keeps intimating you the same.
We often forget bill payments and then bear late fees – This app reminds you of the overdue bill payments.
It alerts about fraud and suspicious activities to you so that you can take early action.
A few drawbacks
Mint may be the best, but not perfect. It has a few flaws and issues. Below is a list of issues the users have reported:
The customer service offered by Mint is not up to the mark and leaves many customers dissatisfied.
This app requires access to all your banking information. Hence, if you are uncomfortable giving access to Mint, look for alternatives.
The network of this app is still not that big and leaves certain smaller banks and credit unions. As a result, you cannot link them.
2. YNAB (You Need a Budget)
Do you wish to gain total control over your money? Well, the YNAB is here. It is how the founder company advertises this app.
Based on the envelope method, it is an American budgeting app that operates on the four-rule system. These are:
Rule 1
You must make better buying choices and think before buying. Haphazard buying is detrimental to financial health and might delay your financial goals.
Rule 2
Rather than postpone your bills, pay them immediately. It will prevent you from the burden of late fees and associated interest on late payments (if applicable)
Rule 3
Be flexible and adjust your budget. It will help you in meeting contingencies. The pandemic was a one-off event, but anything similar can happen again.
Rule 4
Savings is the only way in which you can achieve your goals. So, save money, and let it age. It will help you enjoy the benefits of compounding.
It differs from other budgeting apps and even educates its users about different financial skills, good spending habits, managing debt, and even ways to create perfect budgets.
If you wish to use this app, you will get a 34-day trial period. It is free but will charge you USD 6.99 per month–billed annually.
3. Wallet
Next on our list is the mobile app–Wallet. It is like most of its counterparts and provides a financial overview appealingly.
If you use the paid version, Wallet will automatically get linked with your bank account and fetch data from it. Free users get an option to upload data on the app. You can also add your family members to this app and make it a single place for managing the money of all the family members.
Let us have a look at some of its distinct features:
It allows you to make personalized budgets and manage your debt
The app takes pictures of your receipts. You can archive them.
It also takes care of all your rewards and loyalty cards.
This app guides its users on how to set financial goals. Post this, track your expenses and try to achieve that goal in the assigned time.
It comes in both free and paid versions, which come to:
- USD 4.99 monthly
- USD 28.99 annually
4. Pocket Guard
Uncomplicated–Simple–But loaded with the best features. The pocket guard allows you to link all your accounts but easily.
It has an easy-to-understand interface that allows you to have a real-time track of your bank accounts and credit cards. It makes you spend money smartly, and you are always aware of the red zone you cannot cross.
This app presents an overall financial view of what you have after paying essential bills and saving money.
You can use this app for USD 3.99 monthly or pay USD 34.99 annually.
