Wondering where all your money goes by the end of each month? Managing finances can be tricky. We look at the top 7 money management apps that can help you manage and track your finances better.
Apps now run our world. Can you imagine looking for the next place to eat without a review app and your trusty maps? Today, there’s an app for just about anything under the sun.
Of course, there are some apps whose sole purpose is to prank your friends or entertain you by transforming your picture into an old man, a zombie or a blemish-free you. But on a more serious note, there are apps that can help you manage your expenses like a pro.
Here are six money management apps that you must have in order to track and manage your finances better.
If you are tired of operating multiple sites and remembering passwords, here’s an all-in-one app to keep everything in one place. You can make transactions through all your accounts here, be it your bank accounts, Credit Card, Mutual Fund, demat account, loan accounts, insurance or utility bills.
This all-rounder app lets you make payments, track expenses, check balances and will even give you timely investment advice. The app also sends automatic payment reminders for various bill payments. Since it is connected to the bank, even an ATM withdrawal will automatically be recorded here.
Upside: With MyUniverse, you don’t have to manually enter any information.
Downside: Since the app stores all your passwords, concerns about security will certainly arise. However, it assures that your data is absolutely secure through a VeriSign encryption.
Pricing & Compatibility: The basic app is free, but you might have to shell out a little for the advanced version. It is available for both Android and iOS users.
Additional Reading: Money Management Skills to Master Before Your Thirties
Concerned over splitting bills with your friends when going on a vacation? Does your roommate keep forgetting to pay his/her part of the rent? Splitwise is there to help you. This money management app resolves money-splitting woes and acts as the perfect bill-tracking tool.
With Splitwise, you no longer need to save a hard copy of each bill. You can simply enter the expenses in it and create a group with your friends to split the bills.
The app will do the math for you and even sends reminder emails to your forgetful friend. You can also view your balance, track spending trends and set up email reminders for bills.
Upside: With this app, tracking and sharing bills is hassle-free.
Downside: You will have to manually enter bill details. The entries in a group can be deleted by any of the users.
Pricing and Compatibility: Splitwise is available for free for both iOS and Android users.
This is an easy to use app that helps you manage all your finances on the go. You can log all your day-to-day expenses as well as earnings. The app generates reports and charts as well as alerts to let you know where you stand.
It is an ideal way to know if you are spending too much on anything particular, like eating out, shopping or fuel. In fact, since February 2017, Spendee has tied up with over 2,500 banks all over the country making it easier for users to track their expenses since they won’t have to manually input transactions anymore.
Upside: You can invite your family or friends to plan finances or expenses together.
Pricing and Compatibility: It is available for free for both Android and iOS users.
As the name suggests, HomeBudget is the perfect app to track how much each member of the house is spending. The app lets you set a budget for the family, generates reports and trend charts based on all your expenses so that you can easily track purchases and learn about your spending habits.
Upside: It offers a ‘family sync’ feature which syncs your budget and expense and allows you to easily coordinate your bills and purchases with family members or friends.
Downside: Each member of the family will have to enter the data manually.
Pricing and Compatibility: The app is available for both iOS and Android users. If you want to try the app first, a lite version is available with limited features. You can buy the full version for Rs. 370.
Additional Reading: 5 Money Management Tips For Married Couples
- Money View: Financial Planning
This is another popular expense tracker and bill-management app. It auto tracks all your card and netbanking spend through SMS tracking. The app even sends personalised reminders to pay bills and finds relevant savings options, making it a perfect financial partner.
With Money View, you can check account balances of multiple accounts without having to log in to each account separately. You can also record your cash spending to make it easier to track your expenses.
Upside: This app never reads your bank login, password or OTP, but works through SMS tracking, thus making it safe to use.
Downside: This app is not available for iOS users.
Pricing and Compatibility: Money View Financial Planning app is available for free at the Google Play store.
This app is an all-rounder and works on the principle of automatically reading your SMS messages. The app sends instant SMS alerts the moment you swipe your card for a purchase or withdraw cash.
It also lets you split and settle bills with your friends by creating a group. It also lets you directly send or receive money to and from bank accounts. You can even set reminders to pay your utility and Credit Card bills on time.
That’s not all though. It also sends you expense reports based on how much you have spent each month.
Upside: The app lets you locate ATMs that dispense cash. This feature was introduced after demonetisation.
Downside: You can’t sync your expenses with another person. It works for one individual only.
Pricing and Compatibility: It is available for both Android and iOS users for free.
- The BankBazaar Mobile App
This list would be incomplete without the BankBazaar Mobile App. If you’re somebody who is constantly worried about late Credit Card bill payments or if you find it difficult to keep a track of all your monthly expenses, the BankBazaar app will help you manage your money like a pro.
The app sends you timely Credit Card bill payment reminders and gives you a real-time update of your bank balance to help you plan your finances in advance and keep track of multiple bank accounts without any hassle.
It doesn’t end there. It also lets you apply for and track your loan and Credit Card applications. You can also open a Fixed Deposit and check your Experian Credit Score for free. Besides this, you also get regular gold, silver and fuel rate alerts.
The app also has a ‘Finance 101’ section to help you learn all about finance on the go and makes sure you are up to date with the latest in the world of finance.
Wondering where all your money went may be something you constantly think about at the end of every month, but with the help of these easy-to-use money management apps, you don’t have to worry about that anymore.
Saving and investing go hand-in-hand. Don’t forget to check out your investment options.
Hello, I am from Spendee app, thanks for mentioning us, we appreciate it.
I noticed that you were using incorrect information regarding our features. From February this year, we are supporting bank connection for more than 2500 banks as we believe that there is no need to input transactions manually anymore.
Could you please change this information in an article?
Hi Johana, Thanks for the information. We will update the article soon. Cheers, Team BankBazaar.
Thank you so much for sharing with us. The article is really helpful to track expenses. I used almost all the app, But they don’t have all the functions or features in a single app. When I used Walnut for expense tracking, I am happy with other features like track your spends, Split money, Transfer money to friends, Bank Balances, credit card payments, etc.
Can you add this app to your list, so people can get all the benefits from Walnut App?
Hi Samadhan, Thanks for the suggestion. We’ll consider adding the Walnut app to the list. Cheers, Team BankBazaar