Using paper and pen for managing a budget is definitely classic. And while that works for some, others swear by using spreadsheets. But the best way to manage expenses, calculate finances, and keep track of everything in one place is by using money apps. That’s why this list of our 6 favorite money apps for on-the-go budgeting is the first place to start your new financial wellness journey.
Why It’s Important to Budget
Ensuring you can pay common expenses like rent, and bills, and then also have extra for entertainment is really what budgeting is all about. It’s simply a proactive approach to organizing your finances by just tracking your income, expenses, and savings. Following a budget is really just about making sure to not spend more than you bring in, while also planning finances for both short and long-term goals.
Budgeting with or without money apps is a sure way to keep your eye on the prize. Not only does it ensure you don’t spend money you don’t have, but budgeting also helps you prepare for emergencies by putting away money for such occasions. And when you get down to it, budgeting also highlights what bad spending habits you may have that you want to improve. After all, good financial wellness comes down to great habits and behaviors.
READ MORE: 5 Helpful Tips For Budgeting This Year
Why Money Apps Are The Best Way
Sure, it’s totally possible to budget perfectly fine without using money apps. Paper and pen, or even a spreadsheet are totally acceptable. But there are also many reasons why using money apps for budgeting works even better.
The best budgeting money apps give maximum control over your money. The better you see your entire financial picture, the better you’ll be at sticking to it. Many budgeting money apps may also connect to your bank account and credit cards to automatically download transactions and categorize your spending to match the budget you choose. No paper and pen or spreadsheets can do that.
READ MORE: 10 of the Best Finance Books for Kids
Plus, when are you doing most of your random, consumer-focused spending? It’s when you’re out and about right? What better way to keep track than with easy, fully accessible money apps right at your fingertips? Money apps give you access, portability, and real-time access on the go on your iPhone, droid, or computer anytime.
Our Top 6 Money Apps Pick
There are plenty of budgeting money apps out on the market today. But they are all unique in their own way. Below you’ll find 6 that we think are worth trying out in your financial wellness journey.
Why this one? Goodbudget offers free courses like Budget Bootcamp to help you get on and stick to a budget.
It’s easy to get into a groove when you have a good budgeting app. Based on the envelope system, you can replace your family’s budget planner, worksheet, or spreadsheet with software that syncs with Goodbudget.
Why this one? Well, the free version is great. But if you’re looking for advanced features, it’s just over $3 per month, so it’s totally budget-friendly.
Track all your cards and cash in one place with Toshl Finance. This beautiful app is visually pleasing but is fewer graphs and charts and more money flow. Connect your accounts and get updates all in one place.
READ MORE: 7 Simple Accounting Basics Everyone Should Know
Why this one? The free version is perfectly budget-friendly. But even better? You can unlock Premium Features as you like by paying for them.
EveryDollar is a clear, easy-to-use budgeting app, that uses the zero-based budgeting method. Created by the group Ramsey Solutions, of the financial guru Dave Ramsey himself, it’s well-known and well-thought-out.
Why this one? We’re a sucker for a beautifully designed app, but the function is there too.
If you’re a visual person, this budgeting app is going to be your favorite. The aesthetically pleasing charts and graphs make seeing your money as a whole easier, and the photo save feature lets you snap receipts painlessly.
Why this one? College students can get the app for free for 12 months.
You Need A Budget, or YNAB is the app for those who want more confidentiality and privacy. By paying for the app you’re ensuring there are no ads, and no data is sold. That said, the downfall is that the trial period is just over a month. Bummer.
Why this one? You can see your complete financial picture just within the app.
There’s definitely something right with the #1 most downloaded personal finance budgeting money apps on the market. Now owned by Intuit, Mint is trusted by over 30 million users, and there are good reasons why. It’s simple, it’s connected, and has been around for quite some time.
Getting your money to work for you and your goals is just great financial wellness. The best way to do that is to stick to a budget, and a money app is definitely the way to go. Whatever app you choose – free or paid – download one of these apps and reach your goals in no time.
WANT TO READ MORE?
Check out Daily Mom’s article on The Importance of Teaching Girls Money Confidence.
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