If you are tech saavy or like having everything on your phone, an app on how to budget would be ideal for you. Luckily, there are free money tracking apps to do just that. You can manage your money in your account, save money, invest and pay bills all from just using money tracking apps.
Greg and I have used paper and a pen for years. I started using an app also as a way to keep me accountable on the go and I find it really helpful. The money tracking apps listed below have free and paid versions available.
5 of The Best Money Tracking Apps
Most people have their cell phone with them at all times. If you are out running errands and need to check on how you are doing with your budget, you can do that. If you want to figure out how much is in your investing portfolio while you are at soccer practice, you can do that. The world we live in is so technologically evolved that there is literally an app for just about everything. Budgeting is no different. I will walk you through the best money tracking apps I have found so far. I have done my research on all of them. As I mentioned above, we still use pen and paper, but I have a couple of the money tracking apps that are listed below on my phone as a way to keep track of numbers for me also.
This is a money tracking app made by my man Dave Ramsey. I think it is a great idea that he created the app. He is a finance guru so why not create an app that helps people budget. If you haven’t read the Total Money Makeover yet, I highly suggest you read it. It will help you on your path to financial freedom. I promise you it will.
With this app, you simply plug in how much you make and deduct the bills that need to come out. You start a new budget every month which is really great because your budget will change monthly. You basically plug in the numbers and you have the option to add other payments if you need to. It is an easy way to keep track of spending. It is very basic compared to over budget apps which can be helpful if you aren’t used to tracking your finances through an app.
You also have the option to work through the baby steps online. (That is part of the Total Money Makeover book).
You can sign up Every Dollar free by clicking here. If you want to upgrade to the Plus package, the cost is $99 per year.
Mint gives you the complete financial picture in one place. You can start a budget, have access to your credit score, and keep an eye on your investments. Mint gives you the option to organize your finances in a way that you understand by using tags. So if you want a tag for groceries to see how much you are spending on groceries every month, you can do that. It makes it easier to have a quick glance at how you are doing with your budget.
You also have the option for alerts. If you are over budget, you can set an alert to let you know. You can set it to let you know when your account is below a certain dollar amount so you have an alert. There are a total of 20 different alerts you can set up based upon your preference.
They also have a goal setting feature which is pretty nice. It can help you stay on track with paying off debt or whatever your goals may be.
Perosonal Capital is another budgeting app that I really like. When you first sign up for it, you will need to connect your bank account or accounts. It then will automatically give you an overall look at your finances. I signed up for Personal Capital and the really nice thing is it automatically calculates your expenses for you. For example, it tracks how much you are eating out, your grocery and gas costs, checks education and uncategorized expenses. I personally like Personal Capital better for tracking as it is easy to use. It is easy to look at the program and figure out where you can improve.
Like Mint, you have the option to track all of your investments as well. There is also the Advisor Tool section which has the investment checkup, retirement planner and more.
You can sign up for Personal Capital here. It is free to sign up and the site is very user friendly.
Mvelopes is basically the envelope system on an app. You put in how much you get paid each month, then create envelopes for each category and then you can track how much you are spending from each of your categories. You can see how you are doing with each on of your envelopes from the convenience of your phone. The benefits are that the app is an on the go, real time budget so you can track your budget anywhere. Mvelopes also offers personalized financial coaching services.
Mvelopes also tracks your net worth. If you need help formulating a debt management plan, the Premier version would be the right fit for you. If you are looking to budget your money and track it on the go, the free version would be just fine.
There is a free version, a Premier version and the Mvelopes coaching program. The Premier version is $95 per year. You can sign up for Mvelopes here.
So this app isn’t specifically to manage the day to day budgeting, but I thought it was important enough to mention here because it is a great app to help you with financial investments. I know it can be confusing to talk about investing and that will have to be for another post, but if you are actively investing and have your own portfolio, I recommend Motif Investing. It is only $9.95 to trade an entire portfolio of up to 30 stocks. You can also do dollar based trading which is handy. Instead of having to buy shares of stocks, you can actually buy in dollar amounts.
You can sign up for Motif Investing here. It is free to open an account with Motif.
This app is another one that isn’t really to specifically manage the day to budget, but if you have trouble saving money, Digit can help. If you sign up for Digit, the app takes money out of your account in a way that is easy for you to save. They look at your spending habits and gently take money out a little at a time and put it into a Digit savings account. You have access to the account at any time and Digit is FDIC insured up to $250,000. You can control how much they take out with a few simple commands (in case you want more or less taken out).
So there ya have it. These are the best financial apps I recommend for budgeting, saving and keeping track of your money.
Do you use a money tracking app? Which one?
Learn to budget like a ROCKSTAR!
Learn how to set up a budget that rocks, stay motivated, reduce your monthly expenses, and leverage your money like a boss! You will learn how to master and create the life you want. There is no need to be stressed about money! Sign up today!