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Best Budget Apps For Your Finances

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Written by Nashwaa ShahRukh

I started my career in marketing at the age of 19 and gradually realised my true passion lies in writing. Throughout my life’s journey, I realised one thing... the difference between ‘interest’ & ‘passion’. Stories, I believe, are omnipresent. You knowingly or unknowingly breathe, write, see, & tell stories.

August 31, 2021

The season of spending is here and that means budgeting is everything! You need to get your hands on these budget friendly apps to help you manage your finances as a student!

Dealing with personal finances, especially since it’s not taught in school can be quite hard and confusing. I hope this blog will help you out in the challenges we are facing right now with personal finance, entrepreneurship and adulting in general. Budgeting is where you should start if you’re new to personal finance. 

Best Budget Apps for Your Finances
Best Budget Apps for Your Finances

What I wanted to do with this blog is to help you out and suggest apps that you can try out for your method of budgeting. So with that being said, go ahead and finish reading this piece.

3 Categories Of Best Budget Apps For Your Finances To Be Managed Into Four Kinds. 

Please keep in mind that everyone using these apps will have different opinions and experiences. 

1) Envelope System 

So this method of budgeting is actually great for people who want to develop self-discipline when it comes to managing their finances. So if you are new to finance, this is typically a really good method of budgeting to start out with. If you are unfamiliar with this system then continue reading. 

An envelope system is basically a cash system where an individual divides the cash into different envelopes which are marked with different budgets. 

Example: 

Grocery Budget 100
Rent Budget 300
Utilities Budget 250
Eating Out Budget150

And if you run out of cash from any one of these envelopes, let’s say the eating-out budget, then that means you cannot eat out anymore and usually, this is calculated by month. Keep reading to get that perfect list of the best budget apps you can use to manage your finances.

App #1 Money Lover 

The app that I recommend for the envelope system is called – Money Lover. This budgeting app is available on iOS and Android. This app does have a few ads and pop-ups here and there but It also has a daily reminder feature that a lot of people like and it also has a free pass code feature. You can also connect your bank account. The user interface is very simple to use. With this app, you can keep a track of your everyday expenses and plan a budget wisely in the simplest way possible. 

If you’re an Indian student who requires financial aid and wishes to apply for an education loan, make sure you fill out the form in this blog.

App #2 Good Budget

Another app that is also great for people who want to practice the envelope system is the Good Budget App. This app is great for home budget planning. It is a proactive budget planner that helps you stay on top of your bills and finances. If you are a person who likes simplicity I suggest you go for this app. This app can be synced across 5 devices and gives you a transaction history of 7 years.  

Also Read: This Is Why You Need Student Finance For Postgraduate Studies

2) All-In-One App

Coming to the next category we are going to talk about the All-In-One apps. The apps basically keep a track of all your data and finances in one place. With the help of this, you can easily track all your bank account, your investments, your credit cards, the cash on hand that you have. So basically you can see the entire overview and your net worth on the app. These budget apps are for those people who are not comfortable with using Excel Sheets or Spreadsheets and want their finances in . Let’s go ahead and take a look at those top picks. 

App #3 Wallet – Finance Tracker & Budget Planner

This app is highly recommended and is all about getting things under control. It is built to help you save money, plan for the future, and keep track of all your finances. The Wallet app can help you track your daily spending automatically with bank synchronization, dive into weekly reports, and share specific features and data with your loved ones. This app helps you track your money your way. Anywhere, any time. You will be sent insightful reports, easy-to-understand graphs and financial overviews. The best feature about this app is that you can customize your dashboard depending upon what you want to see when you open the app.

App #4 Money Manager Expense & Budget 

The next app we have is the money manager app which I will say is a little overwhelming to look at when you first start using it but once you get to know that app it’s simple and comprehensive. This app will help you out with budget and management expenses, credit/debit card management functions, you have an option for a pass code lock, you have access to Instant Statistics and also comes with a bookmark function. 

3) Supplementary Apps

Next, we have the supplementary apps. This category of apps is best with a good old fashioned spreadsheet or excel sheet. These types of apps can be very similar to the All-In-One apps but they are less extensive and less comprehensive and it is best for you to track the very simple but very important daily expenses. It is very straightforward and works best because you just have to input income and expenses. Now let’s check out some supplementary budget apps to manage your finances. 

App #5 Monefy 

So, each time you buy a coffee, pay a bill or make a daily purchase, you only need to add each expense you have – that’s it! The user interface is super simple and the best part about this app is that you get to see a pie-chart with all your information easily summarized every time you open the app and see the homepage. The colors are very simple to understand. You get to also see your daily expenses, weekly expenses, monthly expenses and yearly expenses.

Well, that’s about it with all those apps let’s now wrap this up! When it comes to looking for a budgeting app of course you want to look for something that works for you. Some people preferred other apps and that’s okay because personal finance is personal. It is not a cookie-cutter for everyone. It is great if these apps can help you start your financial journey. 

Let me know what you think is the best app to use for budget management in the comments below!

Thank you for reading this blog on the Best Budget Apps for Your Finances. If you’d like to read more, here are some blogs that might be of interest to you:

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