Wondering where all your money goes by the end of each month? Managing finances can be tricky. We look at the top 6 money management apps that can help you manage and track your finances better.
Apps now run our world. Can you imagine being able to find the next place to eat without a review app and your trusty maps? Today, you think of a problem and there will be an app that’s got your back.
Of course, there exist apps whose sole purpose is to prank your friends or entertain you in the form of transforming your picture into an old man, a zombie or a blemish-free you. Besides that, 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.
This all-rounder app lets you make payments, track expenses, check balances as well as give timely investment advice. The app also sends automatic payment reminders for various bills 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: As the app stores all your passwords, there is a security concern. However, it assures that your data is absolutely secure through a VeriSign encryption.
Pricing & Compatibility: The basic app is free, 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 while 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 the money-splitting woes and acts as the perfect bill-tracking tool for you.
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.
This is 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, 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 for planning 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. 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 net banking 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 the 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, making it safe to use.
Downside: This app is not available for iOS users.
Pricing and Compatibility: Money View Financial Planning app is available only at the Google Play store and is available for free.
- The BankBazaar Mobile App
The list is incomplete without the BankBazaar Mobile App. If you’re somebody who is constantly worried about late Credit Card bill payments or finding 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 a track of multiple bank accounts without any hassle.
It doesn’t stop 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 make sure you are up to date and learn all about finance on the go.
Where all your money went could have been a constant question at the end of the month, but with the help of these easy-to-use money management app, 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.