Keeping your finances properly managed is always a good idea but the world we are living in, it has become a necessity. Finances have become a complicated part of life with everyday upgrades adding in to the quality of life. Since the world has been hit by pandemic, economies collapsing have a direct impact on an ordinary man’s wage and lifestyle.
At this time managing your finances is important more than ever before. You are supposed to keep a close look on the money you earn and your everyday expenses. Luckily with a lot of challenges we are living in the era which facilitate us too in handling those problems. There so many daily finance management apps are available to make your task easy. We have compiled a list of 3 of these apps of 2021 for you. So, let’s get started:
Mint is a completely free of cost app. You just have to download it on your phone and it is ready to serve you. Mint requires you to sync all of your accounts in the app. It keeps a close eye on your spending behaviours. This app is a saviour if you are going through financial troubles.
It helps you make a budget and you can also take its help to create financial goals you want to achieve such as savings. You can sync your mint app with your credit cards, bank, loan accounts , savings and let it do its work . There are multiple options available in the app to make budgeting easy for you. You can divide all the transactions and keep a track of how much money you spend on different kinds of things. It will remind you to pay your bill on time and save you from late bills. Mint also helps you evaluate your credit score on a weekly basis. This weekly evaluation feature is fairly new in the app and is yet to be applied by other competitor finance management apps .
The best thing about Mint is the more you use it the more the app knows about you and works according to your habits instead of some default features. Another option in the app which makes it really user friendly is that you can split the transaction you are spending on things. For example, you do grocery shopping and some medicine shopping too, the app will help you split these transactions. So you can have a clear idea about how much you spent on each necessity. This feature is available on some other apps too but not for free as it is in Mint. If some unforeseen expense comes your way you can make a category for it too.
You can have questions about how safe this app is to put all your banking and finance details in it. The answer to your questions is that the app has been around for more than a decade now. It has millions of satisfied users all over the globe.
As interesting as the name of the app, it is also very user friendly. The app is really amazing for the people who want to keep calculation of every penny they spend. The app gives you an option to link all your accounts and credit cards with it to keep a track of your savings and expenses. What makes this app different from other apps is you get an option to manually add your expenses too. If you are not comfortable with syncing your bank accounts and private card details with the app you can simply add all your expenses manually and the app will help you go through your budget. YNAB also helps you reach your set financial goals. Whatever money you list in the app you have to assign it a job. The money which does not have any given purpose goes to the savings. You can make categories of emergencies or parties. You can list some of the money as a retirement fund too.
YNAB does not just assist you with keeping a track of your money but also facilitates you daily budgeting which is a free feature. You can use YNAB for free for a 34 days trial period. After that you have two options, you can pay yearly 84 dollars or monthly 11 dollars. This seems like a lot of money but this app is trusted by thousands of people. According to them the amount you pay to use the app is totally worth it.
If you do not have big finances to manage and all you want is a simple app to help you around with daily day to day expenses then Goodbudget is for you. If you like to handle your finances manually and don’t want to get into the technical complicity you should have it on your phone.
This app is really helpful for management of household money. It is old school budgeting the difference is you don’t have to go through keeping charts on paper and carry around them. All the little and big expenses from kitchen to garage are in your pocket all the time. This is old school budgeting with the twist of technology. You can keep ticking the daily toll of how much you spent on things.
Goodbudget gives you a choice to make envelopes. You enter all your finance and budget details in the app then create envelopes which essentially are the categories to sort all expenses. There is no need to link anything to your bank. Because the app doesn’t have any private bank account details, your other family members can have the app on their phones and sync it with each other. This way the whole family can contribute in having the accurate total amount spent.
The app’s mostly major features are available in the free version. But if you want to enjoy the full blown version of the app, you can upgrade it for 5 dollars monthly or 50 dollars yearly. You get 10 basic envelopes with the free app and by buying upgrades you can make unlimited envelopes.