We all want to track and manage our money. Whether it is checking your balance once a month, or analyzing every single transaction you make, there is always a desire to know the exact state of your bank account.
But it’s not always so easy.
There are plenty of apps on the market that claim to help you manage and save money, but it is super hard to know which one to use. Especially because we all like to analyze our spending in different ways. We thought we’d highlight 5 of the best, and explain exactly how they work.
1. BillGuard / Prosper Daily
This app has personally saved me a lot. It is a rather simple concept – link with your bank account and review every transaction that happens. The interface makes it super simple to navigate and it takes no time to check all your transactions. It even groups transactions into those it recognizes from previous occasions, those that are new, and those that look suspicious (for example, duplicate transactions).
Reviewing transactions can really help you see where your money is going. If you’re like me, seeing so many transactions at brunch places made me realize I needed to eat in a bit more often. It also helps you check for fraudulent, unauthorized, and error charges. It makes these super easy to research and report. If a certain transaction is often flagged by other app users, then you’ll get a notification encouraging you to check it.
This app really helps you keep on top of your transactions.
Dollarbird is super clever. It allows you to plan your finances ahead of time. You can add past and future income and expenses, and the app calculates future balances. This can be super useful to determine when and when not to spend money. For example, whether you want to book a holiday now, or wait for a month, to make sure you can make rent this week.
Dollarbird is super helpful for those of us who love (or need) to plan.
Mint has become extremely popular over recent years. It is advanced budgeting made super simple. After setting up categories and goals, you can easily monitor where your money is going in comparison to where you actually want it to go. For me, I always come close on my alcohol budget! Mint has helped millions of people reduce and repurpose their spending in a very easy, often subliminal, way.
If you fancy giving budgeting a go, you can use Mint here.
With probably one of the coolest user interfaces, Penny is your personal finance assistant. Just text her and she’ll return some nice graphs and statistics about the state of your finances. She is full of great banter, and plenty of super useful tips.
Get Penny here.
5. Personal Capital
Perhaps a slightly more advanced app, Personal Capital is a long term financial planner. It helps you plan things like investments and college funds long into the future. In fact, this nifty piece of software can set you up perfectly for retirement. This is useful for anyone, whether you’re a student, or grandparent.
And you can check it out here.