Tracking your expenses determines in exact terms the inflow of income and how it is being apportioned. This in turn curbs overspending and unnecessary debt. Making and sticking to a budget could be a difficult task that requires immense discipline, but it is one of the most effective ways to manage finances. Fortunately, there are online and mobile apps that guide financial prudence.
1. GoodBudget
Goodbudget is a powerful money manager app for budget planning that embraces the envelope style. It simulates the traditional budgeting method, where each envelope is allocated a specific amount for a purpose. The app organizes money into envelope categories in order to have a clearer view of the expenses then alerts the user if he is spending above his current budget for a certain category.
1. GoodBudget
Goodbudget is a powerful money manager app for budget planning that embraces the envelope style. It simulates the traditional budgeting method, where each envelope is allocated a specific amount for a purpose. The app organizes money into envelope categories in order to have a clearer view of the expenses then alerts the user if he is spending above his current budget for a certain category.
Image source: goodbudget.com
2. Mvelopes Personal Finance
Mvelopes, like Goodbudget, uses the same envelope style system to track the user’s expenses. However, this app has an added feature that captures receipts from over 14,000 financial institutions and attaches them to the database for every transaction, saving time and avoiding many hassles. Real time budgeting updates are also available when a purchase is made.
3. Pocket Expense
Pocket Expense is a simple but attractive budgeting app for iOS users. This app visualizes spending through color coding and then fast-tracks how much spending is done to come up with better financial decisions. This app also supports multiple accounts, a feature that is ideal for users with more than one bank account.
Mvelopes, like Goodbudget, uses the same envelope style system to track the user’s expenses. However, this app has an added feature that captures receipts from over 14,000 financial institutions and attaches them to the database for every transaction, saving time and avoiding many hassles. Real time budgeting updates are also available when a purchase is made.
3. Pocket Expense
Pocket Expense is a simple but attractive budgeting app for iOS users. This app visualizes spending through color coding and then fast-tracks how much spending is done to come up with better financial decisions. This app also supports multiple accounts, a feature that is ideal for users with more than one bank account.
Image source: appxy.com
Washington-based Linda O. Foster assists clients in making the best choices to enhance their financial plans. For more finance-related articles, subscribe to this blog.