Money management apps are packed with many beneficial features that will help you budget properly, track your spending and save effectively. Some money management apps are so effective that you could save thousands of dollars within the first year of use.
By effectively tracking your spending and making you a smarter spender, these budgeting apps can also help you pay off your debt faster you could have done without them.
We have handpicked the best money management apps that can track your expenses and keep your budget in check
The Mint app is a money management app that helps you track your bills, budget, and invest the right way.
Through this app, you can easily track your credit card, rent payments, and utility bills. The app also sends you alerts to inform you of payment due dates and save you from late fee charges.
To budget properly, you get a daily budget tracker and a budgeting template that can help you to manage your daily spending.
You can also use this app to keep track of your investments and find hidden investment fees charged by investment advisors and brokerages.
The Mint app is one of the few effective money management apps that will help you budget, save and get off debt real quick.
What’s more, the Mint app allows you to access all its money management features for free. So, you don’t have to worry about paying monthly fees while using the app to manage your money.
If you’re looking for apps that can help you save more, check your spending and make better budgets that you can stick to, then you need the You Need a Budget app.
You Need a Budget is one of the few budgeting apps that can actually help you save and get off debt really fast by checking your spending and making sure every dollar you spend counts.
The app works with the “Every Dollar has a Job Principle” to help you budget and save properly. You can set and track budgeting goals based on your actual income for a set period of time. This helps you to know just how much you are spending and how much you’re actually earning.
The You Need a Budget App is very effective for budgeting and saving. Many users of the app commented that they have been able to save several thousands of dollars after using the app for a year and you can do so too.
The app offers a free 34-day trial to use all the features in the app. Once the free trial is over, you’ll have to pay $6.99/month (billed annually at $83,99) to use the app.
EveryDollar is the perfect money management app for those with multiple sources of income hoping to track their transactions and get a better understanding of their cash flow.
You can connect the app to your bank account so that it can track your expenses effectively. The app also helps to make better budgets by measuring your monthly income with your expected monthly expenses.
If you plan to save, you should be able to reach your saving goals and even pay off debt while using this app.
EveryDollar offers a free version to all users who wish to budget, save and track their expenses. It also has a premium version EveryDollar Plus. For 129.99/year, you will be given access to more expense tracking and budgeting features on the app.
Qapital is a budgeting app that helps you save money by making you a smarter spender. One of the major reasons why most people fail to meet their spending goals is due to frivolous spending. With the Qapital app, you get to spend on things that really matter and save more money.
The app also allows users to invest without difficulty. You simply provide a timeline and the amount you want to invest and the app will guide you through the investment process.
Qapital has three pricing plans:; Basic, Complete and Master. The prices of the plans are quite affordable when compared to what you’ll be saving per year (an average of $5,000/year).
While Qapital plans allow you to access different finance features, you should be able to spend, save and budget effectively with its Basic plan (billed at $3/month).
If you’re new to budgeting with apps, then you’ll need to try an app that knows how to motivate you to keep your expenses in check.
Digit is the right budgeting app for those who fail to reach their budgeting goals with other budgeting apps.
The app encourages you to keep saving by offer saving bonuses to loyal users who use the app to save for 3 consecutive months. It also offers credit card reduction and unlimited savings templates.
Digit charges its users $5 per month for access to its services but it offers new users a 30-day free trial. When the trial is over, you’ll have to purchase a subscription.
Personal Capital is a pro money management app for people who have multiple income sources and operate multiple bank accounts.
With the app, you can link all your bank accounts in one place and keep track of your expenses and spending. This way you can set a realistic budget and save more. You can also track your investments with the app and keep check of your financials.
Other features you can access on the platform include retirement planner, fee analyzer, portfolio checkup, and net worth calculator.
PocketGuard is a budgeting app that helps you to spend smartly and analyze your money habits to help you save more and build wealth over time.
The app offers super-detailed spending information that’ll help you know exactly where your money goes and point out hidden saving opportunities that could help you reach your saving goals.
When you sign up for the app, you’ll be prompted to link your credit cards, savings and checking accounts, loans, and investments. When done, you can begin to track your financials and make a realistic budget you can actually stick to. Also, the app automatically builds a personalized budget based on your expected income, budget goals, and expenses.
You can also track individual bills, set spending limits, manage ATM withdrawals, and set multiple financial goals.
Pocket Guard offers a free version that can help you save effectively. It also has a premium version that is billed at $3.99/month and $34.99/year.
Dollarbird helps you budget and save based on a calendar system. You get to manage your finances by putting your budget into calendar form. This way you know when the recurring future transactions will happen and you can easily budget or plan ahead.
At the end of each day, month or year, the app automatically calculates your balance so that you can understand your cash flow and make realistic budgets.
You can also partner with your family and friends to manage joints budgets.
Dollarbird offers a free plan that gives you access to 1 calendar and other money management features. To get more calendars, you’ll have to upgrade to its pro plan (billed at $39.99/year).
The pro plan allows you to collaborate with your family, friends or partners to manage joint budgets. It offers you access to 20 calendars and allows only 3 team members.
While Mvelopes does offer one of the best designs when it comes to user interfaces, it also offers one of the most effective budgeting strategies that could help you save big time. Mvelopes allows you to link your bank accounts and provides a monthly income figure based on your transactions for deposits.
Once your income has been generated, you can create a budget by filling in your expenses and savings into the budget template. The app also offers a category for irregular expenses that are likely to occur. After creating your budget, you’ll have to fund your envelopes by assigning amounts you’re likely to spend.
You’ll have to spend one envelope until all the cash is gone, and then you can move on to the next envelope. This way you can easily keep track of just how much you are spending and what you’re spending it for.
Mvelopes offer different pricing plans including a 30-day free trial. Unlike other money management apps, Mvelopes doesn’t have a free version.
Wally is more of a spending tracker that helps you to track your spending and manage your money. To create a budget on the app, you’ll have to manually enter your financial details (your bank account, a savings account, your income, and some expected expenses). When done, you’ll find your total income, expenses, and budget on your dashboard.
When you spend, the amount is deducted from your budget and added to your expenses (you’ll have to add the transaction to the expense category manually). You can check for the balance of your budget on your dashboard.
You can also set saving goals and analyze your spending habits in the reviews section of the app.
While inputting all your information manually might be inconvenient, you still get to save and track your spending at no cost.
11. Good Budget
GoodBudget is built on a concept similar to that of Mvelopes. It allows you to budget, save and track your spending through an envelope budgeting method. Just like Mvelopes, you’ll have to create envelops, fund them and spend until an envelope is empty.
Most of the features offered by GoodBudget are similar to that of Mvelopes. However, GoodBudget has several advantages over Mvelopes. One of the major advantages is its pricing plans. GoodBudget offers a free version where you get only 10 envelops. To get more envelopes, you’ll have to sign up to upgrade to Plus plan (billed at $6/month). The Plus plan allows you to create unlimited envelopes.
Sometimes the problem with sticking to a budget is the fact that the budget is unrealistic. It could be you didn’t take into account all your monthly expenses or your spending habits are way off. In the end, you will find yourself failing to meet your saving goals.
Albert is a money management app that acts as your financial assistant. The app uses artificial intelligence mixed with human guidance to create a realistic budget for you. You also personalized information about your finances and how to improve it.
The app helps analyze your savings, bills and tells you when you overpay. You also get an effective personal budget that is based on your present income, spending habits, goals, and recurring bills.
One of the advantages of this app over other budgeting apps is that it is completely free of charge. So you get to budget and save without worrying about monthly charges.
Spendee is another amazing money management app to consider. In this app, everything is pretty much automatic. All you have to do is connect your bank accounts to the app and all your transactions will be imported and categorized. You can also connect your crypto wallet and E-wallet to the app.
You can also add your expenses to the app and your account balance will be calculated based on every transaction.
Spendee allows you to set alerts for bill payment and for when you exceed your budget.
While Spendee is a great budgeting app with effective money management features, it does not come free. New users are provided with a 7-day free trial, after that, they will have to pay $22/year to use the app.
14. Pocket Expense
Pocket Expense is quite similar to Mint in the sense that it allows you to track your accounts, manage your budget, and track your bills at no charge.
The app offers most of the features you can find in other money management apps and it does that for free with no hidden charges or additional fees.
Below are some of the features of the app
- Check statistics for daily/weekly/ monthly/yearly spending
- Track balance of each account
- Track your budget
- Track your transactions and bills.
Simple does more than budgeting. It is more of a budgeting and mobile banking app that allows you to perform your everyday banking transactions and still get to create realistic budgets that you can actually work.
The mobile banking features allow you to perform the following actions;
- Online banking transactions
- Make direct deposits
- External account linking
- Instant transfers
- Access third-party payment services like Paypal
- Block your ATM card online if it’s been lost or stolen
Its budgeting features allow you to
- Track your spending and bills
- Create saving goals
The app has a trademarked Safe-to-Spend feature that tells if you are on track with your budgeting targets.
16. Clarity Money
Clarity Money is another free app that offers a lot of money management features that will assist you in making better budgets and saving properly.
When you sign up, you will be required to link all your financial accounts including investments and loans to the app. Then the app will create a pie chart displaying your finances and spending habits. The app helps you create a realistic budget and saving goals by identifying recurring expenses and tracking price increases and reductions.
The biggest advantage this app offers is that it will help you identify and cancel unnecessary expenses. This help to keep your spending habits in check and boost your savings. Also, users can access their credit score for free on the app (courtesy of Experian).
Clarity Money app is one of the best free apps that can help you manage your money effectively. As of now, the app still remains free so you can go right ahead to download it and start budgeting and saving.
Prism offers just about the same features you can find in other money management apps. You can track your bills, add all your accounts in one place and pay your bills at no charge through the app. The best thing about this app is that everything is free of charge.
While it comes free (which is probably the type of app you’re looking for), it also has tens of thousands of positive revises from people who have used the app to budget and save successfully.
If you’re new to budgeting apps and you want something that will help you budget and save, then the prism app might be just perfect for you.
18. My Finances
My Finances is another free budgeting app with tens of thousands of positive reviews and a 4.5 out of 5 stars rating from users. Similar to other apps, My Finances helps you budget and save properly. You can also track all your bills and plan ahead for recurring expenses
This app is just perfect for you if you’re are looking for a budgeting tool that will help you manage a budget for your entire family. You can also try out this tool if you just want it to serve you alone.
My Finances will help you save and spend effectively, however, you’ll have to make several in-app purchases while using the app.
You can get started on any of the management apps we listed above. To help you save and budget properly, we recommend you read several budgeting books that will help you take the right steps towards your finances.