Best 5 budgeting apps to keep track of your finances

theaccablog —  August 17, 2015 — Leave a comment

Do you find it challenging to keep your daily expenditure in check without stressing yourself out? Well, you are not alone.

Regardless of our employment status or the kind of work we do, we constantly find ways or even short-cuts, to make the whole process easier and more seamless for us.

Luckily, the advent of smartphones have brought some relief.

Smartphones should be renamed sensible-phones with these apps designed to help you keep track of your finances.

'Smart' Budgeting

Even accountants can use a little helping hand when it comes to their own finances!

Home Budget (Android, iOS)
With Home Budget you can intuitively set up a budget and sync income and expenses between different devices, so you can manage your own and your family’s spending over time. It’s easy to categorise different incomes and expenditures and track your habits with smart looking charts, infographics or lists.

Mvelopes (Android, iOS)
This is developed around the envelope method of budgeting. With Mvelopes you can link up four banking accounts and create custom budgets specific to your spending and saving goals, with different categories such as bills, savings, debts etc. The clever part is that the app automatically logs online transactions, plus you can also input your own incomings and outgoings manually.

Wally (Android, iOS)
While Wally doesn’t have the syncing features of some of the other personal finance apps on the market, what distinguishes it is its usability, design and, in particular, social and location tools for expenditure. Once you’ve set up your savings and spending targets, categorised your income/expenditure and set up your attractive viewing dashboard, you can then add where you spent money and who with, so you can get deeper insight into your spending habits over time.

Mint.com Personal Finance (Android, iOS)
This is the daddy of personal finance and budgeting apps. If you want an overload of features so you can have a constant overview of your financial situation, this is the one for you. Like Mvelopes, Mint allows you to sync bank and credit card accounts so you can see a live, secure picture of your spending and income. Coupled with categorising and data representation features, Mint means you can plan and manage your budget, while also learning about your financial habits.

Budgt (iOS)
If you want a lightweight, clean looking app that keeps things simple and does the basics really well, then say hello to Budgt. The app focuses on expense tracking and core budgeting. Create and manage monthly budgets with income and recurring expenses, make your own categories that can be displayed in attractive, colourful expense pie charts. The app is uncluttered and uses clear fonts and simple design, making personal finance management quick to track, without time-consuming input.

*****

This article first appeared on the ACCA Potential e-zine. If you are still not a student with us, but want to keep in touch with us, do subscribe to our monthly ACCA Potential e-zine here.

To find our more about the ACCA Qualification, visit http://www.yourfuture.accaglobal.com

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