It is always a good idea to keep an eye on your cash flow; To see what you are spending, where you are spending unnecessarily and where you can start saving money. While it is a common desire to start spending judiciously, not everyone has the discipline when it comes to maintaining a budget or managing expenses. There are many different apps out there that help you manage your personal budget and in this guide, we have identified the best apps to help you manage your money better.
To do this, we looked at several different criteria and after doing a shortlist, tested the app to pull up the list and choose your favorites. Our top choice is based on what we personally like the most, and the needs of other people may be a little different, so we’ve included our list below to help you find the best app for you. The runner-up and their strong points are also included. . We tested the application on Android, but checked to make sure that there is no significant difference between the Android and iOS versions of the app where both are available.
How we chose the best money manager app
After going through a lot of research and many apps, we decided to narrow it down based on the following criteria:
- ease of use – A simple user interface that can be navigated in a simple way. We also looked for ease of operation and where the data and graphs displayed were incomprehensible.
- Authenticity of application – Since budgeting apps require a lot of details about your finances and, in some cases, coordinating your bank account details, the authenticity of the application was important. App Store ratings and user reviews were also considered to determine authenticity.
- Cross platform compatibility and data synchronization – We considered apps that provided the option to synchronize your data and were available on both Ios And Android Platforms.
Our number one pick, Wallet is a very visual money manager that gives you quick and easy information, and includes both free and paid features. The free account requires you to manually update your expenses, but you get a two-week free trial. This allows you to bring all your different accounts in one place, to track your expenses by adding your bank accounts (HDFC, SBI, ICICI and Axis are supported), as well as accounts like Amazon Pay, CoinSesses. Spend automatically. And PayPal, as well as some additional features such as sharing your details and more visual customization options.
Not only does it record your income and expenses, it also allows you to allocate money towards your goals, take care of your debts, be it borrowed or borrowed. You can set a budget for shopping lists so that you don’t go overboard and take care of your warranty, loyalty card, etc. It also has a very good visual design which makes it highly shinable. There is also a fun game called Was It Worth It, which builds a score for purchases based on your inputs to help you see if you’re spending money.
Wallet is the go-to budget budget app for any lover of statistics. It takes your money in six different categories starting from ‘Balance Trend Chart’ to ‘Cash Flow Table’, giving you a detailed analytical understanding of your spending habits. To link bank accounts to wallet you need to have a premium account. The premium plan is priced at Rs. 210 per month or Rs. 1,050 per year. A lifetime plan can also be taken for Rs. 2,700. On the bright side, features such as dark mode and security pins for your data are included in the free version.
While the wallet was our top choice, your needs and preferences may be slightly different. That is why we have suggested a few more of the various apps that we have tried, among which we think they are worth your time and money. Read on to see the rest of the pics.
With its bright colors, Money Manager makes keeping track of your expenses an interesting activity and is a great app for beginners. This allows you to add photos to entries, which is handy when you need to provide a receipt for the work, and it only supports manual entry. Account syncing has made the wallet more attractive to us, people who do not want to give access to their details to third party companies will appreciate the privacy.
The application is simple with several sub-categories under both income and expenditure. You can get a holistic view of your expenses and income with a pie chart, and a detailed analysis of each of your expenses and income through a line graph. Money Manager is a free application without ads, and there are no limitations on features. The app is available on both iOS and Android.
A Rs. The 390 paid version unlocks additional features from your PC such as managing, removing ads, and adding unlimited accounts, while the free version is limited to ten accounts.
For those who want a very fast and easy experience, Monefi is a great option. It has a simple user interface that makes a piece of cake through the app. This is another great budget app of choice for beginners. It is an ideal app to keep track of your expenses and income. Each time you enter your income or expenses a calculator automatically pops up. Expenses can be viewed in different time frames, starting from daily to annual or you can manually set custom time frames using the ‘Interval’ option.
There are 15 categories of spending, three categories of income, and a colorful pie chart of both, so you can track where most of your money is going. If you are spending too much on entertainment or dine-outs and want to change your way, then this pie chart is enough to make you feel guilty.
There is a premium version available for Rs. 199 which will additionally let you implement a dark theme, use the password protection feature, synchronize your data and add more expense and income categories. The free option is sufficient with features that allow you to backup data, set monthly budget limits, etc.
YNAB (You Need a Budget) is a personal budget software that is popular on desktop, but there are mobile apps for the same. The interface of YNAB is quite different. It seems more serious and corporate than the others on the list. The YNAB has a budget section that helps us plan your spending ahead of time, thus reducing the possibility of overspeeding. Even the categories that require a budget are divided into: ‘immediate liabilities’,’ rightful expenses, ‘debt payments,’ ‘quality of life goals,’ and ‘just for fun’ ‘, So that you know how, why and where you are spending your money. This is a great app but it can be a bit intimidating, and we would recommend YNAB to those who really want to spend time and dig deep into their budget.
If you are stuck or have a problem with the app, you can ‘send in diagnostics’ or send your questions to the support team, which usually comes within 24 hours in my experience. The only downside to YNAB is that you cannot directly link a bank account unless it is in the US or Canada. As a result, transactions have to be entered manually here.
But YNAB needs to be on this list otherwise it provides for amazing budget experience. There is a 34-day free trial after which you will have to pay to continue using it. It costs $ 11.99 (approx. Rs. 880) per month or $ 83.99 (approx. Rs. 6,150) per year.
It is always a good decision to start making a budget. If you had not thought about it by now, there is no better time than the present. These budget apps should let you manage your money with relative ease.
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