There’s an app for everything.
Keeping track of your finances can sometimes get the better of you. Many people find themselves wondering at the end of the month, “Where did all my money go?”
If you find it difficult to keep up with your finances, first of all, you’re not alone. Many people struggle with this issue. Secondly, thanks to the advent of technology, there are tons of smartphone apps to make budgeting infinitely easier.
When keeping track of my finances, I always find using my iPad or iPhone helps me understand where my money comes from and where it needs to go next.
Here are 15 apps that could save you hundreds in the long run, all from your pocket.
Mint
Available on iTunes and Google Play
Mint is the ultimate money manager that allows you to track your spending, create a budget, receive bill reminders and get customised tips for saving money and reducing your fees.
For example, the app helped grocery store clerk, Francesca, save $100 a week on a bad habit of buying fast food after her shift. Picking up on her habits, Mint alerted her to the amount of money she was wasting on fast food every week.
This helped her save $5200 over the year, which she used to take a short cosmetics course.
The app shows all of your spending, loans, credit cards and bank account so that you can see your net dollar value.
Pro: The app is very user-friendly and allows you to see exactly how you’re tracking with your finances.
Con: Some people might not be comfortable with handing over their bank details to an app.
Acorns
Available on iTunes and Google Play
Acorns is a micro-investment platform that allows users to invest their virtual spare change by rounding up purchases made with a credit or debit card to the nearest dollar.
The difference between the cost of the item and the nearest dollar is then invested into a portfolio of shares in $5 amounts.
Users can choose from five different portfolios offering a range of investments. My portfolio is ever-expanding thanks to the app.
Pro: Acorns acts as a virtual piggy bank that starts off with a very conservative growth portfolio and then goes all the way up to an aggressive portfolio.
Con: The app charges all users a $1.25 monthly account fee for any holding less than $5000.
Digit
Available on iTunes and Google Play
This Google-backed money saving app automatically saves you money by tracking your income and spending patterns.
The app takes out a small portion of your money every two to three days and puts it into a separate Digit account with a partner bank.
The platform still allows you to withdraw your money, but it forces you to save by taking out amounts that you would not even notice.
Pro: The app helps people find the right balance between spending and saving without having to lift a finger.
Con: You do not earn any interest on your savings as this goes to pay Digit operating costs so you don’t pay any fees.
Dollarbird
Available on iTunes and Google Play
This calendar-based app allows you to keep track of expenses so there are no unexpected surprises.
The app was clearly designed with your full financial journey in mind and allowed journalist Alexandria to save up enough money to buy a house by helping her track her income and expenses, and then predict where she would be in 10 years time.
If you are not comfortable with connecting your bank account to an app, and you are willing to input all of the information yourself, then this is the financial app for you.
Pro: The app works for the long-term by projecting cash flow for up to five years, allowing you to plan.
Con: Users still need to input all of the information and sometimes this can fall by the wayside.
Splitwise
Available on iTunes and Google Play
If you live with roommates or find yourself constantly trying to keep track of IOUs when you go out to eat with friends, Splitwise is for you.
The app makes it very easy to keep track of who owes who what so there are no arguments about paying the gas bill or who picked up the coffee last time.
Money is often at the root of relationship breakdowns, so if you want to stay cordial with your friends, it might be time to get Splitwise.
Pro: Splitwise takes a lot of the hassle out of keeping documentation that can be lost about who pays what.
Con: You cannot export contacts over from your phone, so everything has to be input manually.
Pennies
Available on iTunes
Pennies is another platform to track your everyday expenses with a simple to use user interface.
The app tracks daily targets, budgets, one time expenses, and alerts you about your spending health.
Pennies is available on the Apple Watch to take your spending habits to the next level.
Unlike other platforms, it is not concerned with what you’re buying or where the money is coming from, instead it looks at the bigger picture.
Pro: Because it is so streamlined, users don’t become bogged down with the particulars.
Con: On the other hand, this works as a downside because you can’t track where you are wasting money.
HomeBudget with Sync
Available on iTunes and Google Play
This is an integrated expense tracker that includes a family sync feature, which helps everyone in the household stay aware of the budget.
HomeBudget helps you track expenses, income, due bills, account balances, and savings.
The emphasis on the sync function is a great way to keep everyone in the loop when it comes to money.
Pro: The program comes with an extensive manual to help you wrap your head around the features.
Con: Sometimes the sync function fails to work properly.
Splittable
Available on iTunes and Google Play
If you can’t be bothered with spreadsheets and you hate having awkward money talks, Splittable is a great way to keep up with who owes who what and when things need to be paid.
The app has a focus on user experience and helps #HousematesUnite.
Pro: All payments are tracked in real time.
Con: There are still some settings that the developers need to work out and the platform is susceptible to crashes.
Venmo
Available on iTunes and Google Play
If you are big on eating out with friends, you probably find yourself transferring money that takes some time to reach your friends’ bank account.
With Venmo, you can pay anyone instantly by linking your bank account or debit card.
It allows you to connect with people, split dinner or send a birthday gift.
Pro: The platform is free to use with many payment methods including bank accounts or major debit cards. Receiving money is always free.
Con: Some people may have a problem adding in bank details to the app.
Level Money
Available on iTunes and Google Play
Level Money is like a financial GPS letting you know how much you can spend.
By keeping track of your financial situation, it’s easier to make decisions for purchases big and small.
You get a “Spendable” amount, which lets you know what is safely spendable for any day, week or month essentially eliminating the need for budgets.
Pro: Let’s you focus on what you can spend without all of the extra things that clog lots of other finance apps.
Con: Doesn’t include lots of functionality.
MileIQ
Available on iTunes and Google Play
If you are constantly on the go for your job, you are more than likely able to deduct or expense the miles you drive.
With MileIQ, you can track the miles you drive so you have evidence of mileage expenses.
The app can save you thousands every year on unclaimed miles.
Pro: Uses minimal battery and has great functionality.
Con: The system is very sensitive and can sometimes add nonexistent drives.
Square Cash
Available on iTunes and Google Play
This app is perfect if you have a business that relies heavily on cash flow (which is every business).
You can get paid instantly by customers with Square Cash by sharing your cash.me profile.
Most deposits are paid within seconds.
Pro: The app has an affordable pricing plan when compared with other payment methods.
Con: There are some issues still being worked out with the backend.
IRS2Go
Available on iTunes and Google Play
With the official IRS app, you can check the status of your refund, make payments, find free tax preparation assistance and sign up for helpful tax tips.
There are plenty of features to help you make the most of your tax return.
Pro: The app is available in English and Spanish.
Con: There are still some bugs in the current version of the app that may block some people from entering information.
Coinbase
Available on iTunes and Google Play
This is one of the best mobile bitcoin wallets that allows you to send bitcoins to friends or shop with merchants who accept bitcoin.
You can also buy and sell bitcoins directly from your phone by connecting the platform to your bank account.
Pro: Makes the process of using bitcoin extremely simple and easy to understand.
Con: Privacy and functionality are lacking in this app, and bugs are still a big issue.
Circle Pay
Available on iTunes and Google Play
Another payment app, Circle Pay brings in another level of functionality allowing you to send and receive as easy as texting.
Once you enter a friend’s email or contact, you hit send and the money is off.
You can use your debit card to add money, and cashing out is free.
Pro: Should security be breached, any lost or stolen money is fully insured.
Con: There are a few bug issues and some security problems.
