If you are anything like me, then keeping track of finances can be difficult sometimes. You have to handle bills, track receipts, and pay debts while also keeping your financial health in good condition. This can be overwhelming at some points because there is so much to keep track of. However, with today’s technology keeping track of your finances is much easier. Below are the top four apps for you to choose from depending on your needs.
#1: You Need a Budget (YNAB)
This app may have budget in the name, but it is more of a money management application. You Need a Budget actually makes you evaluate how you organize your money. YNAB makes sure every dollar you spend and every dollar you earn is accounted for. This app forces you to create envelopes for each topic you want to dedicate money towards such as bills, restaurants, and movies. If you need to pay off some debts, YNAB helps you track your debt repayments while also helping you manage how you currently spend your money. This app syncs with your checking, savings, and credit accounts to automatically tracks your spending. You can choose to either download this app on your phone or you can access it over the Web. Unfortunately, this app will cost $7 per month once the 34-day free trial ends. If you are a student, you have the ability to sign up for a no cost subscription for one year.
If you are a lover of budgeting, then Mint is the perfect app for you. You can choose from a variety of topics to start your budgets. You also get to set a dollar limit for you to stick to each month. You can easily sync your bank accounts to the app so it can keep track of your transactions automatically. This means Mint will automatically update the budgets you have created in the app to the dollar amount you spend in each category for the month. Syncing your data will also allow Mint to send you notifications when you are over budget for the month. You can also set alerts for future bills. Another function of this app is the ability to set savings goals. The best part about Mint is that it is completely free with no added costs of any king.
Just like YNAB, Goodbudget uses the envelope method to help you save your money. However, Goodbudget gives you the ability to share your budget across an entire household. This makes it easy for you and your spouse to track your finances together. Unfortunately, you will have to manually enter transactions because there is no bank syn option. Goodbudget is free to use if you only have a limited number of accounts, but if you have a large budget then you will be required to pay $6 per month.
#4: Every Dollar
Every Dollar is an app created by finance guru, Dave Ramsey. His approach begins with you building an emergency fund and paying off any debts you have. Once that is complete, then you move to investing for your retirement and your children’s future. This app is extremely easy to use because all you have to do is enter your income and planned expenses. Once you have entered the date, you will get an overview with your financial strengths and weaknesses listed. If you pay for Every Dollar Plus, you can sync your transactions to the app automatically. The Plus version will be $10 per month, but you do have access to a smaller, free version.
Tracking your finances can seem like a daunting task if you don’t know where to start. Hopefully one of these apps will make it easier for you!
Written by: Megan Williams
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