You have a stable job that pays every month. You love spending your money on things that give you joy. In fact, you are subscribed to every promotional email of different stores and services.Almost every day, you get an email or a text that you are entitled to a 10% discount to your go-to nail salon, or a 20% discount if you purchase your favorite cosmetics brand before Friday. Just last night, you got a call from a friend asking you to come for a night out in your favorite club and spend money on drinks.And as much as you are determined to save money for the rainy day, you have already fallen to the massive pits of overspending. Most of us, after all, have money goals. Whether it’s repaying all our loans from licensed moneylenders, wanting to retire early and travel the world or even start a business.
Overspending is like a black hole that sucks you right in until you cannot recover. In order for you to prevent that from happening, you must reflect on how you manage your finances. To start making changes in your spending habits and avoid drowning in the sea of debt, you need to track your expenses.Tracking your expenses can be a tedious task. It can be hard to recall where your money went and list it all down at the end of the day. Fortunately, there are different money management apps available that you can download on your phone or tablet.
We have listed down the 5 best mobile apps that you can use to track your expenses
Wally is a free and super convenient app to track your personal finances. This is available for iOS and Android users. By downloading Wally on your smartphone, you can keep track of where you spent your money and you can compare your income versus your expenses.It is easy to plan your future expenses with reminders and lists by using this app. If you are looking for an intuitive app that can help you stay on top of your personal finance, then this app is perfect for you.
If you are the type who has no time to sit down and tabulate your expenses on an app, then Seedly is the best app for you.It is easy to use with its minimalist interface and has a comprehensive overview of everything you need to know about your monthly expenses. Best of all, it can be synced to your bank transactions and tracks everything for you.
Another free app that has the capability to help you take control of your expenses. A great time-saver for people who have a busy lifestyle because it is efficient in organizing your receipts.With its SmartScan feature, there is no need to type in the details on your receipt, this feature enables the app to pick up all the accurate details of your daily expenses for easy tracking. You can also access this app through its web version, too!
Zenmoney is the digital financial assistant that guides you in making the right decision before spending your money. It shows the general overview of your finances, finds out where your money goes, shows you how much money is available and how much money you should allot to pay your bills.This app also has the capability to make you aware of the money you owe others and how much money other people owe you.
Its simple interface makes it easy to use for efficient tracking. A very comprehensive app that allows you to view analytical reports and charts that are easy to understand.A practical personal finance app that can help you create multiple budgets for different categories. The Monny Bunny feature helps you get into challenges that can help you develop a “money brain” and get into the habit of tracking your expenses. This is an excellent app for recording daily income and expenses.Most of the time you don’t know where your money goes each month. And little did you know you haven’t paid your bills as a result of your impulsive spending.
One of the best money tracking app is Mint. It’s tracking all your money in one app may it be your bills, financial accounts and more in just one dashboard. You can create a well-planned budget with easy to follow tips tailored for you.You can calculate your overspending in a specific category. You can see your spending month after month and year after year. It will give you the transparent details tp plan ahead and see where you can make additional savings. And since this is your personal finances up to the last cent, you can sucre your information with a 4 digit PIN. If you are not into mobile phone apps, you can always bring around your trusty pen and paper. But if you tend to forget due dates or you usually juggle various credit cards, it is still best to use a financial tracking app. You will also see your spending on a graph to visualize your spending and see which part you need to lessen your expenses.
Tracking your expenses can do more good in managing your personal finance. Creating a budget is useless unless you track it. There might be hundreds of ways to track your spending which can involve a little math but it can give you a clear insight to help you improve your spending habits. It can be a lot of work at first and may require an extra amount of time to set a daily budget, but if you embrace the habit of tracking where your money goes, you will never find yourself cash-strapped.
It will not be easy if you are new to financial tracking but it will be all worth it. Once you develop it as a habit, it will become easier for you to control your expenses, save and real your money goals.