The mobile revolution is in full swing with its projected 2.6 billion smartphone users by the end of this year. Apps are being used for communication, as a news resource, libraries and also as finance life savers.The majority of us have been there at some point in our life, going through bills and bank statements, trying to organise and figure out where all the money went.
Good news is that apps can help you take better control of your finances.It is just a matter of choosing which one fits your requirements and spending habits.
Here are the top 3 most talked about budgeting apps that we think might be beneficial to your financial life.
Tink provides you with an overview of your finances through automatically categorizing and analyzing your income and expenses. This app lets you connect all your bank accounts into one place and manage your finances from there. You can pay bills, make transfers between banks, create a budget to keep track of all your expenses and set you financial savings goals that you can follow in real time. Available on iOS (free) with over 350,000 users in Sweden, Tink is also expanding through Europe.
Money Dashboard gives you the view of your finances by showing exactly where your money goes across all your online financial accounts. On most accounts, transactions and balances are refreshed daily, so you are up to date with your current financial position at a glance. With a clearer view of how, when and where you are spending your money you will be in a better position to organize your finances more effectively. You can set your own financial goals, whether you want to finally clear your credit card or buy a house. Money Dashboard is available on IOS and Android, for free and currently only in the UK.
With PocketSmith you can categorize, label and annotate your transactions for future reference, create rules that will automatically rename, categorize and label transactions as they arrive and easily keep your accounts up-to-date in one place. The App supports checking, savings, credit cards, loan accounts, and more. You can also schedule your upcoming bills and budgets in a calendar or break your budget down into meaningful periods. All the major banks in the United States, New Zealand, Australia, Canada and the UK are supported. It is available on IOS and Android but you will have to pay for it, depending on if you want a basic or more advanced account.
Budgeting apps can help you save precious time and optimise your budget to identify where you could save more, make smart financial decisions and hit your financial goals.
Besides these three, we have noticed a large number of budgeting apps out there. Which one is your favorite?
Manigo Team, April 2017