5 apps that make tracking expenses easy

For those who want to track their expenses more efficiently – there’s an app for that. (Rawpixel pic)

Keeping track of personal finances is easier said than done. With hectic schedules and fast-paced lives, it can be tough being diligent about keeping track of your finances.

For those who want to track their expenses more efficiently, as the saying goes, “There’s an app for that!”

After scouring the internet and app store reviews, here is a list of five expense tracking apps that could make one’s financial life a whole lot easier. Thanks, technology!

1. Spendee

Apps like Spendee can help users track expenses easily and quickly. (Spendee official website pic)

• Price: Free seven-day trial and free for the basic plan; paid plans for multiple wallets (users) start at RM6.90 per month or RM52.90 per year.
• Availability: App Store, Google Play.
• Each user is given the options to track cash flow (income and expenses) in the currency of their choice, set and maintain budgets and get a look at where the money goes on easy-to-understand charts.

All of this data can then be synced and backed up across devices for household-wide accountability and transparency.

• The apps come with paid plans that support multiple users. Users can also pick different currencies.
• It has a modern and colourful yet uncluttered design.

2. Monefy

Monefy is not just a practical tool to track expenses, it’s fun too. (Monefy official website pic)

• Price: Free with limited features, RM12 per month
• Availability: App Store, Google Play
• There is no need to take pen to paper in order to record expenses because Monefy will do it far more easily. Open the app, fill in the amount and tap “Add”.

This data can then be safely synced between all devices (smartphones and tablets included) using the user’s personal Dropbox account, and/or sorted using Monefy’s default categories for expert-level organisation. (The user can also add their own categories as well.)

• As the cherry on top of this practical functionality is that Monefy just looks really nice. It uses fun typefaces, vivid colours, and whimsical icons in a fresh, clean way that enhances (rather than distracts from) its use.
• It has graphs to visualise expenses and supports multiple currencies.
• Syncing information across devices requires a Dropbox account.

3. You Need A Budget (YNAB)

You Need A Budget also offers users support and teaching tools to deal with debt. (YNAB Apple Store page pic)

If one can get past its price, it is wonderfully supportive in ways most personal finance apps are not.

• Price: Free 34-day trial, then RM52.18 per month or RM365.54 per year
• Availability: App Store, Google Play
• YNAB takes things a step further than most other apps of its kind by offering users helpful support and teaching tools for dealing with debt (among other financial woes) via instructional videos, newsletters, podcasts, workshops, help documents and support forums. It tracks progress in paying off debt in colourful graphs and charts.
• On the technical side, a practical budgeting tool serves as the focal point of YNAB’s interface; the user lays out their income and expenses in detail to determine how much debt they can realistically pay off each month, making sure everything they do with their money is intentional.
• The apps are updated regularly based on customer feedback and make a point of teaching users how to reach and maintain their financial goals.

4. Mobills

Mobills’ planning app indicates how much is left to spend in each category of the budget. (Mobills Apple Store page pic)

• Price: Free with limited features, RM108.75 yearly, RM65.23 quarterly

Availability: App Store, Google Play

• Mobills organises expenses in categories in order to make sure spending is progressing toward the budgeted amount.

The amount left to spend in each budget category is shown so the user can rein in spending as needed.

The budget-planning app includes interactive charts that allow analysis of the user’s financial life that can be used to make adjustments as needed to reach the larger financial goals.

• Credit cards can be added to the app to keep track of the current balance and spending limits all in one place. Keeping track of bills and the due dates can also be done with this app.
• The free version of the app has limited functionality while upgrading to the premium version provides full access to all the app’s features.

5. Wally

Wally’s free expense tracker can be augmented with extra features through premium subsriptions. (Wally official website pic)

• Price: Free
• Availability: App Store, Google Play
• Budget tracking app Wally provides a free expense tracker that can be augmented with extra features available through premium subscriptions.

Users sign in with their email address and can then set a savings target and daily budget, log expenses and income, track expenses over time, set reminders for bills and more, all presented in a timeline feed or in a calendar.

This article first appeared in MyPF. Follow MyPF to simplify and grow your personal finances on Facebook and Instagram.

from Free Malaysia Today https://ift.tt/31X09KB
via IFTTT