People began to manage the family budget a long time ago. Your grandmother probably wrote down expenses in a notebook. Later, your dad entered the expenses in Excel. Fortunately, you are living in a time of technological advancement when you can use handy budgeting apps.
Wealth starts with income and expenses accounting. Financial optimization is what sooner or later comes to those who want to properly plan their budget.
Today, many keep track of expenses, monitor how and what they spend money on. This is part of a person’s general craving for ordering their life. In addition, accounting for personal finances has a great practical meaning – it helps to understand what we spend on and how to save.
Yes, today applications installed on your smartphone make it easy to manage your family budget, plan your travel budget, and cope with other similar tasks. If you need one, check out our list of the best money management apps.
Coinkeeper is a simple app, so it’s suitable for those who have never kept track of income and expenses. No complicated Excel tables – just drag the wallet icon onto the icon with the most frequent spending categories and enter the amount. This is how you can record a purchase.
In the application, you can set a goal to make it easier to save up for a trip, a new gadget, or even a car. Coinkeeper will show how much is left to the cherished goal and how regularly you save for it.
Moneon is ideal if you want to keep track of your travel budget. In-app purchases and spending can be recorded in any currency, so you don’t have to manually recalculate anything.
Let’s say you’re planning a road trip to Scotland and want to pick up a hire car from Easirent Edinburgh. A hire car is a fast, easy, and budget-friendly way to move around. You can compare all the available deals, choose the best car hire offer and then enter the corresponding entry into the app.
The same applies to other waste items. That is, you create a label in the application with the name of the country and mark all travel expenses. Then, using this tag, you can track how much money you spent on the trip.
As for the rest of the features, Moneon is similar to the other apps in this collection. You set a budget for a week, a month, or another period and record all expenses by category. You can add your own categories as well, but the application already contains the most needed ones, including clothes, home, travel, groceries, and mobile communications.
This is another simple app for keeping track of income and expenses. You add a transaction and indicate the amount and its type, whether it’s income, expense, or debt. Money Lover makes it possible to set a monthly budget and then view the report at the end of that period. Also, the application offers a separate category for debts and loans. You just need to enter the amount and name into the appropriate line.
Another great feature of Money Lover is the event mode. If you’re planning a wedding, trip, or birthday, create an event and tag all associated expenses. After that, it will be easy for you to track how much you spent in the end.
YNAB stands for You Need A Budget. This is not just an application, but a whole budgeting system with its own principles. The main rule of the YNAB system is that every pound should work. What does it mean? When you receive a salary and add the amount to the application, you need to understand in advance where you will spend the money.
Renting an apartment, transport, food, clothing, vacation – in the application you need to determine where each pound from your budget will go. Then write down the actual expenses and try to follow the established plan.
Spendee helps you stay within your budget. Just set a monthly budget and track daily how much you have already spent and how much you can spend daily. You can add a hashtag to each transaction and view a report on it. This will help you, for example, keep track of how much money you are spending at a particular restaurant or store.
For regular operations, you can set the reminder. Also, Spendee makes it possible to set up automatic money transfers between wallets within the application. This is convenient if, for example, you save 10% of your salary every month in a separate savings account.