Are you interested in getting a better handle on your money, or simply finding an easier way to track your income, expenses, and savings? In today’s world, there are apps for just about everything, and that includes budgeting. The best budgeting apps on the market today help you manage many of the aspects of your money, and all at an affordable price.
The following is a post by Laurie Blank. Laurie is a blogger, freelance writer and mother of four. She’s psyched about teaching others how to create passive income sources like she’s done, so they can live the dream too. She shares powerful insights on her blog, Great Passive Income Ideas, that will show you how you can create passive income sources of your own.
Everyone has different budgeting and money management needs. Each of the budgeting apps mentioned here works a bit differently.
Check out the details for each and choose the app that’s best for you. Then watch your money grow.
1. Personal Capital
Personal Capital has long been a favorite of budgeting nerds everywhere. I think their main benefit is their attractive, at-a-glance dashboard. And of course, their price.
When you sign up for Personal Capital’s free budgeting tools, you can see your entire financial picture in one place:
- Income and expenses
- Savings, investment, and retirement
- Budget breakdown by expenditure
And more. They even show you your net worth as a whole. And if you want to take it a step further and start investing with them, Personal Capital charges fees of less than 1% annually; much lower than most investment firms.
2. Mint
Mint is another top favorite in the budgeting app world. Like Personal Capital, Mint is free. They help you track your income and spending by category.
They help you track savings, investments, and debts as well. One cool feature of Mint is that they’ll recommend the best financial tools for you based on your overall financial picture.
For instance, they’ll show you which banks have the highest interest yield on savings, or where you can get a lower rate credit card.
Mint is a bit less detailed than Personal Capital, and they don’t offer a wealth management feature, but it’s still a terrific basic budgeting app that’s attractive and easy to use.
3. YNAB
YNAB (short for You Need a Budget) was started by a young married couple with a serious need to manage their money very carefully. They were college students living on a limited income, and they created a 4-step process to better money:
- Give every dollar a job
- Embrace your true expenses
- Roll with the punches
- Age your money
Their 4-step plan helps you get into a financial groove that will mean more money and less stress. YNAB costs about $7 a month, but you can try it for free for the first 34 days. Also, they offer a 100%, no questions asked money-back guarantee if you’re not satisfied with your results.
4. Goodbudget
Goodbudget is kind of like a virtual envelope system for budgeters. If you’ve read any of Dave Ramsey’s stuff, you’ve probably heard about him talk about using envelopes with cash to stay within your budget.
Goodbudget works like that, only from a virtual standpoint. You create a budget that works for you, and the app helps you know that you’re on track – or when you’re getting close to going off track.
Bonus: the app works great for couples: you can each see the information and spending, so you don’t accidentally go over budget.
Goodbudget has a free program and a Plus program that costs $6 a month or $50 annually.
5. PocketGuard
PocketGuard is an app that can show you where you’re spending and how you can save more. They’ll even tell you when your bills are due so you can avoid those pesky late charges.
You can use PocketGuard to set savings goals, and then assess your spending by category to see how you can reach those savings goals. Bonus: They’ll let you know when you’re about to reach a spending limit in a budget category so you can avoid overspending.
PocketGuard has a free plan that will help you with basic budgeting. They also have an advanced program, PocketGuard Plus, for just $3.99 per month (or $34.99 per year).
Summary
You can learn to manage your money better if you have the knowledge and the right tools. Choose one of these budgeting apps to help you add a power-packed boost to your finances.
***Photo courtesy of https://www.flickr.com/photos/sozialhelden/9400289014/in/
