9 April 2013 Comments Off on Top 5 Budgeting Apps for Home Finances

Top 5 Budgeting Apps for Home Finances

Bill-rollMany of us have been there at some point: you go to take money out of your account or make a purchase only to have your request coldly and unceremoniously declined. You panic. You struggle to understand – where did that money go? The truth of the matter is that unless you are financially independent and relatively wealthy, you need a monthly budget to help you understand where your cash is going. Keeping track of your monthly budget used to be a laborious task, which no doubt explains why so many people abandoned their budgeting plan and overspent. However, thanks to the arrival of apps for smartphones, creating and sticking to a budget is not only easy but actually entertaining as well.

Where To Start?

When you are combing through the hundreds of apps available for budgeting and personal finance, you need to keep your own situation in mind. According to a Faster Payday spokesperson there are many different programs available that cover a wide variety of needs, but if they are not applicable to your financial situation and are not easy to use on a regular basis, chances are they’ll sit on your phone untouched. You only want to track expenditures? There’s an app for that. You’re only interested in graphs and pie charts? There’s an app for that too. Luckily, you won’t have to do too much research or spend hours searching iTunes as the following apps are universally agreed upon to be the best available.

IReconcile: Great For In-Depth Financial Analysis

Quick to set up and even quicker to use, the IReconcile program is perfect for those looking for in-depth financial analysis. Including a wide variety of features such as a built-in check register, the option to perform online backup, extensive reports, and monthly budget rollover, this is one of the most comprehensive budgeting apps available. The biggest selling point for this particular app is the budget tracker option, which can break down your budget to yearly, monthly, weekly and even daily budgets. With unlimited categories and subcategories for a fully customizable experience, this $2.99 wonder is a must-have for any money-conscious individual.

Expenditure: All the Detail You Need

If titles and categories aren’t enough for you, you may be more satisfied with the incredibly detail-orientated Expenditure app. The option to take photos of your transactions and add notes rather than just pumping in the monetary value allows visual thinkers to get a better idea of where their money is going. Those who use this app rave about how effortless it is to enter new transactions and review their budget; the program seemingly does all the work for you. If you are not entirely comfortable with calculations, this may well be the perfect budget management solution for you. At just $1.99, this app is one expenditure you can feel confident about.

Moneybook: Graphs and Charts To Make Your Finances Clearer

Moneybook is one of the more pricey personal budgeting apps, at $2.99 for unlimited use. The ideal app for people who are addicted to the convenience of iCloud backup, all entries made are automatically exported to your additional devices. Supported by many features and aesthetically pleasing, Moneybook is one of the only budgeting apps to employ animations to help keep you on track. Again, if you are more of a visual learner you’ll appreciate the graphs, charts and animations that are generated from the information you enter. In addition, the option to protect your information with a password is attractive for those who happen to share phones or other electronic devices.

Toshl: Simple to Use and Free

Free doesn’t necessarily mean poor quality, as evidenced by the user-friendly and stress-free Toshl finance app. If you are looking for a simple expense-tacking program to help keep you aware of how much you are spending, you won’t find a more suitable program. The interface is clean, unintimidating and well thought out, with the option to backup to iCloud or export into Excel, PDF or Google Docs. However, those looking for these more advanced features have to spend $19.99 per year, while those looking for a basic tracking app shouldn’t have to look much further than what is offered free of charge.

Mint: One of the Most Respected and Popular Apps Available

Rounding out this list is perhaps the most respectable personal budgeting app available today. Still making waves and generating extreme loyalty, the Mint app has been receiving rave reviews since its inception years ago. Critics and users agree: there is no better app on the market. After entering your financial information into the secure program, Mint tracks your expenditures for you by communicating independently with your bank. It automatically tracks your spending, categorizes it, and creates in-depth reports on your spending habits. It will even remind you when your bills are due! This is perfect for those who want maximum results with little effort. This fabulous program has a well deserved reputation for quality.

As hard as it might be to face, our spending habits must be examined carefully. Do you put too many purchases on your credit card? Are you stuck in an instant payday loans rut? When analyzed as a whole, it can be shocking to see the habits and purchases that you consider “not a big deal” make up the majority of your expenditures. No one wants to discover that they’re dropping half their paycheck on credit card debt. As most of us are connected to our phone for the majority of the day anyway, having a budget program installed can help us stay on track. These apps can make a massive difference when it comes to creating a positive relationship with money.

Comments are closed.